IRIS Accounts Production v24.3.0.553 OC354519 designated member 1.1.23 31.3.24 31.3.24 0 0 true false true false false true false 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC3545192022-12-31OC3545192024-03-31OC3545192023-01-012024-03-31OC3545192021-12-31OC3545192022-01-012022-12-31OC3545192022-12-31OC354519ns15:EnglandWales2023-01-012024-03-31OC354519ns14:PoundSterling2023-01-012024-03-31OC354519ns10:PartnerLLP12023-01-012024-03-31OC354519ns10:LimitedLiabilityPartnershipLLP2023-01-012024-03-31OC354519ns10:SmallEntities2023-01-012024-03-31OC354519ns10:AuditExemptWithAccountantsReport2023-01-012024-03-31OC354519ns10:SmallCompaniesRegimeForAccounts2023-01-012024-03-31OC354519ns10:LimitedLiabilityPartnershipsSORP2023-01-012024-03-31OC354519ns10:FullAccounts2023-01-012024-03-31OC354519ns10:PartnerLLP22023-01-012024-03-31OC354519ns10:PartnerLLP32023-01-012024-03-31OC354519ns10:RegisteredOffice2023-01-012024-03-31OC354519ns5:CurrentFinancialInstruments2024-03-31OC354519ns5:CurrentFinancialInstruments2022-12-31OC354519ns5:PlantMachinery2023-01-012024-03-31OC354519ns5:OwnedAssets2023-01-012024-03-31OC354519ns5:OwnedAssets2022-01-012022-12-31OC354519ns5:PlantMachinery2022-12-31OC354519ns5:PlantMachinery2024-03-31OC354519ns5:PlantMachinery2022-12-31OC354519ns5:CostValuation2022-12-31OC354519ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-31OC354519ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: OC354519 (England and Wales)










Quidnet Capital Partners LLP

Report of the Members and

Unaudited Financial Statements

for the period

1 January 2023 to 31 March 2024






Quidnet Capital Partners LLP (Registered number: OC354519)






Contents of the Financial Statements
for the period 1 January 2023 to 31 March 2024




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Quidnet Capital Partners LLP

General Information
for the period 1 January 2023 to 31 March 2024







DESIGNATED MEMBERS: A Yiannakis
N J G Tribe
R J Tice





REGISTERED OFFICE: 4 More London Riverside
London
SE1 2AU





REGISTERED NUMBER: OC354519 (England and Wales)





ACCOUNTANTS: Walkers Accountants Limited
Aireside House
Aireside Business Centre
Royd Ings Avenue
Keighley
West Yorkshire
BD21 4BZ

Quidnet Capital Partners LLP (Registered number: OC354519)

Report of the Members
for the period 1 January 2023 to 31 March 2024

The members present their report with the financial statements of the LLP for the period 1 January 2023 to 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the period under review was that of real estate investment and asset management.

DESIGNATED MEMBERS
The designated members during the period under review were:

A Yiannakis
N J G Tribe
R J Tice

RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS
The loss for the period before members' remuneration and profit shares was £20,309 (2022 - £15,095 loss).

MEMBERS' INTERESTS
MEMBERS' REMUNERATION

Members are remunerated solely out of the profits of the LLP and are required to make their own provision for pensions.

MEMBERS' CAPITAL

The capital requirements, which all the members are required to subscribe to, are determined by the designated members. On retirement a member's capital is repaid at the value contributed.

Details of changes in members' capital in the year are detailed in note 9 to the financial statements.

MEMBERS' DRAWINGS AND ALLOCATION OF PROFIT

Usually the designated members set the level of interim profit allocations and members' monthly drawings after considering the working capital needs of the LLP. To the extent that interim profit allocations exceed drawings, then the excess profit is included in the balance sheet under loans and other debts due to members. Should drawings exceed the allocated profits, then the excess in included in debtors. The same treatment is used for members who retire during the year.

The final allocation of profits and distribution to members is made after assessing each member's contribution for the year and after the financial statements are approved.

ON BEHALF OF THE MEMBERS:





A Yiannakis - Designated member


9 October 2024

Quidnet Capital Partners LLP (Registered number: OC354519)

Income Statement
for the period 1 January 2023 to 31 March 2024

Period
1.1.23
to Year Ended
31.3.24 31.12.22
Notes £    £   

TURNOVER - -

Administrative expenses (20,309 ) (15,095 )
OPERATING LOSS and
LOSS FOR THE FINANCIAL PERIOD
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




(20,309




)




(15,095




)

Quidnet Capital Partners LLP (Registered number: OC354519)

Balance Sheet
31 March 2024

31.3.24 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 5 - 7,088
Investments 6 1,000 1,000
1,000 8,088

CURRENT ASSETS
Debtors 7 54,988 40,936
Cash at bank 6,005 20,239
60,993 61,175
CREDITORS
Amounts falling due within one year 8 (1,275 ) (1,776 )
NET CURRENT ASSETS 59,718 59,399
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

60,718

67,487

LOANS AND OTHER DEBTS DUE TO
MEMBERS

60,718

67,487

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 60,718 67,487
Amounts due from members 7 (48,002 ) (34,462 )
12,716 33,025

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the period ended 31 March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

Quidnet Capital Partners LLP (Registered number: OC354519)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 9 October 2024 and were signed by:





A Yiannakis - Designated member

Quidnet Capital Partners LLP (Registered number: OC354519)

Notes to the Financial Statements
for the period 1 January 2023 to 31 March 2024

1. STATUTORY INFORMATION

Quidnet Capital Partners LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

All tangible fixed assets are at cost less accumulated depreciation. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Assets held under finance lease are depreciated in the same manner as owned assets.

Renewals, repairs and maintenance are charged to profit and loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using a mixture of methods. The depreciation bases are as detailed above.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are credited or charged to the income statement.

Impairment of fixed assets
At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indications exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less that its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reserves, the carrying amount of the asset is increased to the revised estimate of its recoverable amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in the prior years. A reversal of an impairment loss is recognised as income immediately.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Quidnet Capital Partners LLP (Registered number: OC354519)

Notes to the Financial Statements - continued
for the period 1 January 2023 to 31 March 2024

3. EMPLOYEE INFORMATION

The average number of employees during the period was NIL (2022 - NIL).

4. OPERATING LOSS

The operating loss is stated after charging:

Period
1.1.23
to Year Ended
31.3.24 31.12.22
£    £   
Depreciation - owned assets 2,215 2,362

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 66,261
Disposals (66,261 )
At 31 March 2024 -
DEPRECIATION
At 1 January 2023 59,173
Charge for period 2,215
Eliminated on disposal (61,388 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 December 2022 7,088

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 March 2024 1,000
NET BOOK VALUE
At 31 March 2024 1,000
At 31 December 2022 1,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.12.22
£    £   
Other debtors 54,988 40,936

Quidnet Capital Partners LLP (Registered number: OC354519)

Notes to the Financial Statements - continued
for the period 1 January 2023 to 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.12.22
£    £   
Other creditors 1,275 1,776