Registered number: OC382326
KOALA ENERGY CAPITAL LLP
UNAUDITED
MEMBERS REPORT AND FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2023
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KOALA ENERGY CAPITAL LLP
CONTENTS
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Members' Responsibilities Statement
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Reconciliation of Members' Interests
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Notes to the Financial Statements
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KOALA ENERGY CAPITAL LLP
MEMBERS' REPORT
FOR THE YEAR ENDED 31 MARCH 2023
The members present their annual report together with the financial statements of Koala Energy Capital LLP (the "LLP") for the year ended 31 March 2023.
Principal activities
The principal activity of the LLP is is that of an investment business and holds partnership fund interests. These funds are third party private equity investments structured through limited partnerships.
Designated Members
R J Quinlan and V E Quinlan were designated members of the LLP throughout the period.
Members' capital and interests
Each member's subscription to the capital of the LLP is determined by their share of the profit and is repayable following retirement from the LLP.
Details of changes in members' capital in the year ended 31 March 2023 are set out in the Reconciliation of Members' Interests.
No member shall be entitled to exercise their voting right, to receive or be credited with any profits of the LLP or to participate in the management of the LLP if the amount due to be paid for their capital account remains unpaid.
Members are remunerated from the profits of the LLP and are required to make their own provision for pensions and other benefits. Profit & losses shall be allocated to the accounts of the Members such as shall reflect the entitlement of the Members to receive distributions in respect of their Capital Contributions from time to time.
Small LLP Exemption
The financial statements have been prepared in accordance with the special provisions relating to LLPs subject
to the small LLPs regime within Part 15 of the Companies Act 2006, as applied by The Limited Liability
Partnerships (Accounts and Audit) (Application of the Companies Act 2006), Regulations 2008, and in
accordance with FRS 102.
This report was approved by the members and signed on their behalf by:
R J Quinlan
Designated member
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KOALA ENERGY CAPITAL LLP
MEMBERS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023
The members are responsible for preparing the annual report and thefinancial statements in accordance with applicable law and regulations.
Company law, (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law, as applied by the Limited Liability Partnership (Accounts and Audit (Applications of Companies Act 2006) Regulations 2008), the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period.
In preparing these financial statements, the members are required to:
∙select suitable accounting policies for the LLP's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the entity will continue in business.
The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and to enable them to ensure that the financial statements comply with the Companies Act 2006 as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of the Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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KOALA ENERGY CAPITAL LLP
REGISTERED NUMBER: OC382326
BALANCE SHEET
AS AT 31 MARCH 2023
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Debtors: amounts falling due within one year
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Creditors: Amounts Falling Due Within One Year
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Total assets less current liabilities
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Loans and other debts due to members within one year
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Members' capital classified as equity
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Loans and other debts due to members
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KOALA ENERGY CAPITAL LLP
REGISTERED NUMBER: OC382326
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.
The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.
The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The entity has opted not to file the profit and loss account in accordance with the provisions applicable to entities subject to the small LLPs regime.
The financial statements were approved and authorised for issue by the members and were signed on their behalf by:
The notes on pages 6 to 9 form part of these financial statements.
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KOALA ENERGY CAPITAL LLP
RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2023
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EQUITY
Members' other interests
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DEBT
Loans and other debts due to members less any amounts due from members in debtors
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Members' capital (classified as equity)
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Members' interests after profit/loss for the year
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Members' remuneration charged as an expense
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Members' interests after profit for the year
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The notes on pages 6 to 9 form part of these financial statements.
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KOALA ENERGY CAPITAL LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Koala Energy Capital LLP is a Limited Liability Parntership incorporated in England and Wales, The address is 2 Coracle Offices, St Catherine Street, Carmarthen, Carmarthenshire, SA31 1RD. The principal activity of the LLP in the year under review was that of an investment business and holds partnership fund interests. These funds are third party private equity investments structured through limited partnerships.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006 applicable to LLP's subject to the small LLP's regime. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
In accordance with Section 10 of the Limited Liability Partnership Act 2000, any trade, profession or
business carried on by the LLP is treated as though that business were carried on in partnership by
its members. Accordingly, any liability to taxation is that of the members themselves and not of the
LLP. Thus there is no provision for taxation in these financial statements.
The financial statements have been prepared on a going concern basis which assumes that the LLP
will continue in operational existence for the forseeable future. The LLP expects the continued support of its members, which has confirmed that it will provide such financial support as is necessary for the LLP to meet its liabilities as they fall due and continue in operation for a period of at least twelve months from the date of signing of these financial statements.
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KOALA ENERGY CAPITAL LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The LLP's functional and presentational currency is GBP.
Transactions and balances
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 Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Investments in unlisted entities represent investments in limited partnership and are stated at market value at each balance sheet date. Gains and losses on remeasurement are recognised at historic cost less impairment.
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, less any impairment.
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Cash and cash equivalents
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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.
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KOALA ENERGY CAPITAL LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
2.Accounting policies (continued)
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.
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The average monthly number of employees, including members, during the year was 2 (2022 - 2).
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Foreign exchange movement
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Cash and cash equivalents
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KOALA ENERGY CAPITAL LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Loans and other debts due to members
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Loans and other debts due to members may be further analysed as follows:
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Falling due within one year
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Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.
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