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REGISTERED NUMBER: OC443565 (England and Wales)










FINANCIAL STATEMENTS

FOR THE PERIOD

18 AUGUST 2022 TO 31 DECEMBER 2023

FOR

NORTH ROAD UK, LLP

NORTH ROAD UK, LLP (REGISTERED NUMBER: OC443565)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 18 AUGUST 2022 TO 31 DECEMBER 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NORTH ROAD UK, LLP

GENERAL INFORMATION
FOR THE PERIOD 18 AUGUST 2022 TO 31 DECEMBER 2023







Designated members: J D Frouman
North Road Opco, LLC





Registered office: 30 Bedford Street
London
WC2E 9ED





Registered number: OC443565 (England and Wales)





Auditors: Hayvenhursts Limited
Fairway House
Links Business Park
St Mellons
Cardiff
CF3 0LT

NORTH ROAD UK, LLP (REGISTERED NUMBER: OC443565)

BALANCE SHEET
31 DECEMBER 2023

Notes £   
FIXED ASSETS
Intangible assets 4 547,059
Tangible assets 5 273,792
820,851

CURRENT ASSETS
Debtors 6 1,975,885
Cash at bank 663,015
2,638,900
CREDITORS
Amounts falling due within one year 7 (3,190,757 )
NET CURRENT LIABILITIES (551,857 )
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

268,994

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

263,994

MEMBERS' OTHER INTERESTS
Capital accounts 5,000
268,994

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 263,994
Members' other interests 5,000
Amounts due from members 6 (1,771,179 )
(1,502,185 )

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 Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 23 October 2024 and were signed by:





North Road Opco, LLC - Designated member

NORTH ROAD UK, LLP (REGISTERED NUMBER: OC443565)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 18 AUGUST 2022 TO 31 DECEMBER 2023

1. STATUTORY INFORMATION

North Road UK, 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 LLP’s functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£).

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.

Related party exemption
The LLP has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents amounts charged to the Company's parent under a sales and marketing agreement, excluding value added tax. Turnover is recognised when chargeable costs are incurred.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Furniture & Fixtures - 84 months on straight line basis.
Leasehold Improvements - 60 months on straight line basis.

Financial instruments
The LLP has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the LLP's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

NORTH ROAD UK, LLP (REGISTERED NUMBER: OC443565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 18 AUGUST 2022 TO 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
All of the LLP's sales are to North Road Company, LLC, the parent company, therefore the LLP is reliant on the ongoing support of the parent company. The parent company will continue to support the LLP financially for at least 12 months from the date of the financial statements.

3. EMPLOYEE INFORMATION

The average number of employees during the period was 5 .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
Cost
Additions 547,059
At 31 December 2023 547,059
Net book value
At 31 December 2023 547,059

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
Cost
Additions 286,583 48,263 334,846
At 31 December 2023 286,583 48,263 334,846
Depreciation
Charge for period 55,308 5,746 61,054
At 31 December 2023 55,308 5,746 61,054
Net book value
At 31 December 2023 231,275 42,517 273,792

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 1,975,885

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Amounts owed to group undertakings 3,136,929
Taxation and social security 2,933
Other creditors 50,895
3,190,757

NORTH ROAD UK, LLP (REGISTERED NUMBER: OC443565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 18 AUGUST 2022 TO 31 DECEMBER 2023

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
£   
Within one year 144,825
Between one and five years 144,825
289,650

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up, amounts included within "Loans and other debts due to members" would rank equally with unsecured creditors.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gareth R Williams (Senior Statutory Auditor)
for and on behalf of Hayvenhursts Limited

11. ULTIMATE PARENT COMPANY

The immediate parent company is North Road Opco, LLC., the company incorporated in the United States of America.

The ultimate parent company is CE Parent, LP., the partnership registered in the United States of America.