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REGISTERED NUMBER: OC331080 (England and Wales)















Unaudited Financial Statements

for the Period 1 October 2023 to 31 March 2024

for

Elbrus Capital Partners LLP

Elbrus Capital Partners LLP (Registered number: OC331080)






Contents of the Financial Statements
for the Period 1 October 2023 to 31 March 2024




Page

General Information 1

Statement of Financial Position 2

Reconciliation of Members' Interests 4

Notes to the Financial Statements 6


Elbrus Capital Partners LLP

General Information
for the Period 1 October 2023 to 31 March 2024







DESIGNATED MEMBERS: J Arnoff
J Ostrowsky





REGISTERED OFFICE: 7 Arcadian Place
London
SW18 5JF





REGISTERED NUMBER: OC331080 (England and Wales)





ACCOUNTANTS: Consulting and Accountancy Services Ltd
Unit 6 City Business Centre
Lower Road
London
SE16 2XB

Elbrus Capital Partners LLP (Registered number: OC331080)

Statement of Financial Position
31 March 2024

31.3.24 30.9.23
Notes £    £   
CURRENT ASSETS
Debtors 5 239,565 240,137
Cash at bank 2,819 4,823
242,384 244,960
CREDITORS
Amounts falling due within one year 6 1,320 1,392
NET CURRENT ASSETS 241,064 243,568
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

241,064

243,568

LOANS AND OTHER DEBTS DUE TO
MEMBERS

41,064

43,568

MEMBERS' OTHER INTERESTS
Capital accounts 200,000 200,000
241,064 243,568

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 41,064 43,568
Members' other interests 200,000 200,000
Amounts due from members 5 (239,087 ) (238,637 )
1,977 4,931

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.

Elbrus Capital Partners LLP (Registered number: OC331080)

Statement of Financial Position - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 4 October 2024 and were signed by:





J Arnoff - Designated member

Elbrus Capital Partners LLP (Registered number: OC331080)

Reconciliation of Members' Interests
for the Period 1 October 2023 to 31 March 2024


EQUITY
Members' other interests
Members'
capital
(classified
as Other
equity) reserves Total
£    £    £   
Balance at 1 October 2023 200,000 - 200,000
Members' remuneration charged as an expense,
including employment and retirement benefit costs

-

-

-
Profit for the financial period available for
discretionary division among members

-

-

-
Members' interests after profit for the period 200,000 - 200,000
Repayments of debt (including members' capital
classified as a liability)

-

-

-
Balance at 31 March 2024 200,000 - 200,000

DEBT TOTAL
Loans and other debts due to MEMBERS'
members less any amounts due INTERESTS
from members in debtors
Other
amounts Total
£    £   
Amount due to members 43,568
Amount due from members (238,637 )
Balance at 1 October 2023 (195,069 ) 4,931
Members' remuneration charged as an expense,
including employment and retirement benefit costs

(2,504

)

(2,504

)

Profit for the financial period available for
discretionary division among members

-

-

Members' interests after profit for the period (197,573 ) 2,427
Repayments of debt (including members' capital
classified as a liability)

(450

)

(450

)

Amount due to members 41,064
Amount due from members (239,087 )
Balance at 31 March 2024 (198,023 ) 1,977

Elbrus Capital Partners LLP (Registered number: OC331080)

Reconciliation of Members' Interests
for the Period 1 October 2023 to 31 March 2024

EQUITY
Members' other interests
Members'
capital
(classified
as Other
equity) reserves Total
£    £    £   
Balance at 1 October 2022 200,000 - 200,000
Loss for the financial period available for
discretionary division among members

-

(4,605

)

(4,605

)
Members' interests after loss for the period 200,000 (4,605 ) 195,395
Other divisions of loss - 4,605 4,605
Balance at 30 September 2023 200,000 - 200,000

DEBT TOTAL
Loans and other debts due to MEMBERS'
members less any amounts due INTERESTS
from members in debtors
Other
amounts Total
£    £   
Amount due to members 48,173
Amount due from members (238,637 )
Balance at 1 October 2022 (190,464 ) 9,536
Loss for the financial period available for
discretionary division among members

-

(4,605

)

Members' interests after loss for the period (190,464 ) 4,931
Other divisions of loss (4,605 ) -
Amount due to members 43,568
Amount due from members (238,637 )
Balance at 30 September 2023 (195,069 ) 4,931

Elbrus Capital Partners LLP (Registered number: OC331080)

Notes to the Financial Statements - continued
for the Period 1 October 2023 to 31 March 2024

1. STATUTORY INFORMATION

Elbrus 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.

Elbrus Capital Partners LLP (Registered number: OC331080)

Notes to the Financial Statements - continued
for the Period 1 October 2023 to 31 March 2024

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, 'The Financial Report Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical
accounting estimates. It also requires management to exercise judgement in applying the LLP accounting
policies (see note 3).

The following principal accounting policies have been applied:

2.1 Going concern

The members have undertaken to provide any additional finance necessary to enable the LLP to meet its
liabilities as they fall due for a period of at least twelve months from the date of approval of these financial
statements.

Based on this continuing financial support, the members have a reasonable expectation that the LLP has
adequate resources to continue in operational existence for the foreseeable future. Accordingly, the going
concern basis of accounting has been adopted in the preparation of these financial statements.

However, should adequate financial support not be forthcoming from the members, the going concern basis
used in preparing the LLP's financial statements may be invalid and adjustments would be required to reduce
the value of assets to their realisable amount and to provide for any further liabilities which might arise.

The financial statements do not include any adjustment to the LLP's assets or liabilities that might be
necessary should this basis not continue to be appropriate.

2.2 Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured
initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the
effective interest method, less any impairment.

2.3 Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on
notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than
three months from the date of acquisition and that are readily convertible to known amounts of cash with
insignificant risk of change in value.

2.4 Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are
measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost
using the effective interest method.

2.5 Foreign currency translation

Functional and presentation currency

The LLP's functional and presentational currency is GBP.

Transactions and balances


Elbrus Capital Partners LLP (Registered number: OC331080)

Notes to the Financial Statements - continued
for the Period 1 October 2023 to 31 March 2024
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary
items measured at historical cost are translated using the exchange rate at the date of the transaction and
non-monetary items measured at fair value are measured using the exchange rate when fair value was
determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at
period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are
recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow
hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains
and losses are presented in profit or loss within 'other operating income'.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and
assumptions that affect the amounts reported for assets and liabilities as at the year end date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the opinion of the Designated Members there have been no judgements or estimates which have had a significant effect on amounts recognised in the financial statements.

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 - 33% on a straight line basis

3. EMPLOYEE INFORMATION

The average number of employees during the period was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023
and 31 March 2024 1,403
DEPRECIATION
At 1 October 2023
and 31 March 2024 1,403
NET BOOK VALUE
At 31 March 2024 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 30.9.23
£    £   
Other debtors 239,565 240,137

Elbrus Capital Partners LLP (Registered number: OC331080)

Notes to the Financial Statements - continued
for the Period 1 October 2023 to 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 30.9.23
£    £   
Bank loans and overdrafts - 204
Other creditors 1,320 1,188
1,320 1,392

7. CONTROLLING PARTY

In the opinion of the Designated Members of the LLP, as at 31 March 2024, there was neither an immediate parent company nor an ultimate controlling party during the year.