Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-02-28falseThe principal activities of the LLP are investment managementfalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false3true OC446032 2023-02-27 OC446032 2023-02-28 2024-03-31 OC446032 2022-02-28 2023-02-27 OC446032 2024-03-31 OC446032 c:CurrentFinancialInstruments 2024-03-31 OC446032 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC446032 d:FRS102 2023-02-28 2024-03-31 OC446032 d:AuditExemptWithAccountantsReport 2023-02-28 2024-03-31 OC446032 d:FullAccounts 2023-02-28 2024-03-31 OC446032 d:LimitedLiabilityPartnershipLLP 2023-02-28 2024-03-31 OC446032 d:PartnerLLP1 2023-02-28 2024-03-31 OC446032 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC446032 e:PoundSterling 2023-02-28 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC446032









1991 VENTURES LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
1991 VENTURES LLP
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF 1991 VENTURES LLP
FOR THE PERIOD ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), we have prepared for your approval the financial statements of 1991 Ventures LLP for the period ended 31 March 2024 which comprise  the Balance sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the members in accordance with the terms of our engagement letter dated 15th March 2023Our work has been undertaken solely to prepare for your approval the financial statements of 1991 Ventures LLP and state those matters that we have agreed to state to the 1991 Ventures LLP's members in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 1991 Ventures LLP and its members for our work or for this report. 

It is your duty to ensure that 1991 Ventures LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and result of 1991 Ventures LLP. You consider that 1991 Ventures LLP is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of 1991 Ventures LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Calder & Co
 
30 Orange Street
London
WC2H 7HF
7 October 2024
Page 1

 
1991 VENTURES LLP
REGISTERED NUMBER: OC446032

BALANCE SHEET
AS AT 31 MARCH 2024

2024
Note
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
72,086

Cash at bank and in hand
 5 
36,476

  
108,562

Creditors: Amounts Falling Due Within One Year
 6 
(77,890)

Net current assets
  
 
 
30,672

Total assets less current liabilities
  
30,672

  

Net assets
  
30,672


Represented by:
  

Loans and other debts due to members within one year
  

Members' capital classified as a liability
  
100

Other amounts
 7 
30,572

  
30,672

  

  
30,672


Total members' interests
  

Loans and other debts due to members
 7 
30,672

  
30,672


Page 2

 
1991 VENTURES LLP
REGISTERED NUMBER: OC446032
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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.

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 statement of comprehensive income 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 on 7 October 2024.




Denys Gurskyy
Designated member

The notes on pages 5 to 7 form part of these financial statements.

1991 Ventures LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.

Page 3

 
1991 VENTURES LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE PERIOD ENDED 31 MARCH 2024





DEBT
Loans and other debts due to members less any amounts due from members in debtors
Members' capital (classified as debt)
Other amounts
Total

£
£
£

Balance at 27 February 2023
-
-
-

Members' remuneration charged as an expense
-
55,572
55,572

Members' interests after profit for the period
-
55,572
55,572

Amounts introduced by members
100
-
100

Drawings on account and distribution of profit
-
(25,000)
(25,000)

Amounts due to members
100
30,572
30,672

Balance at 31 March 2024 
100
30,572
30,672

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 4

 
1991 VENTURES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

1991 Ventures LLP is a Limited Liability Partnership incorporated in England and
Wales, registration number OC446032. The address of the registered office is 33 Handley House, 19 Glenthorne Road, London, United Kingdom, W6 0EF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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. 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:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

 
2.3

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits discretionarily. Discretionary divisions of profits are recognised as amounts due to members, although may be used to offset amounts which have been drawn by members, which are recognised as loan assets repayable.

 
2.4

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.

 
2.5

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.

Page 5

 
1991 VENTURES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

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.


3.


Employees

The average monthly number of employees, including directors, during the period was 3.


4.


Debtors

2024
£


Other debtors
72,086

72,086



5.


Cash and cash equivalents

2024
£

Cash at bank and in hand
36,476

36,476



6.


Creditors: Amounts falling due within one year

2024
£

Accruals and deferred income
77,890

77,890


Page 6

 
1991 VENTURES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

7.


Loans and other debts due to members


2024
£



Members' capital treated as debt
100

Other amounts due to members
30,572

30,672

Loans and other debts due to members may be further analysed as follows:

2024
£



Falling due within one year
30,672

30,672



 
Page 7