REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 October 2023 to 31 March 2024 |
for |
Elbrus Capital Partners LLP |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
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 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 were approved by the members of the LLP and authorised for issue on |
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 |
Plant and machinery etc | - |
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 |
DEPRECIATION |
At 1 October 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 30.9.23 |
£ | £ |
Other debtors |
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 |
Other creditors |
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. |