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REGISTERED NUMBER: OC408134 (England and Wales)















REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

AFRICA PLATFORM CAPITAL LLP

AFRICA PLATFORM CAPITAL LLP (REGISTERED NUMBER: OC408134)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

General Information 1

Report of the Members 2

Chartered Accountants' Report 4

Income Statement 5

Balance Sheet 6

Notes to the Financial Statements 8


AFRICA PLATFORM CAPITAL LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: S N Rowlands
Ms C M Lawton





REGISTERED OFFICE: United House
9 Pembridge Road
Notting Hill
London
W11 3JY





REGISTERED NUMBER: OC408134 (England and Wales)





ACCOUNTANTS: Harold Sharp Limited
Chartered Accountants
5 Brooklands Place
Brooklands Road
Sale
Cheshire
M33 3SD

AFRICA PLATFORM CAPITAL LLP (REGISTERED NUMBER: OC408134)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2024


The members present their report with the financial statements of the LLP for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of investing in emerging and developed markets

DESIGNATED MEMBERS
The designated members during the year under review were:

S N Rowlands
Ms C M Lawton

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £122,125 (2023 - £65,503 loss).


AFRICA PLATFORM CAPITAL LLP (REGISTERED NUMBER: OC408134)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2024

MEMBERS' INTERESTS
Following due allowance for any costs or liabilities owed by the LLP, the remaining profits of the LLP shall be distributed as determined by the Members by Resolution.

The Members are not entitled to make drawings under the current LLP Agreement.

Each of the Members shall contribute to the LLP up to the amount of Capital Contributions set out against his name in the LLP Agreement as may be requested by the LLP in writing from time to time.

Each of the Members may be required to make such additional Capital Contributions as determined by Unanimous Resolution from time to time. No Member shall be required to advance any amounts to the LLP save for the amount of such Capital Contributions made or as otherwise agreed or determined in accordance with the provisions of this Agreement.

No Member is entitled to receive interest on their Capital Contribution.

The Members by Resolution shall determine the allocation of a Member's Capital Contribution between Other Capital and Regulatory Capital from time to time provided that no reduction shall be made to the aggregate amount allocated as Regulatory Capital in any circumstances except where a reallocation or repayment of Regulatory Capital is permitted in accordance with the LLP Agreement. The Members may, by Resolution from time to time, request Members to contribute additional capital to the LLP which may be contributed as Other Capital or as Regulatory Capital.

A Member's Regulatory Capital Contribution shall be reallocated as Other Capital or repaid only in the following circumstances:

(a) on the winding up of the LLP;

(b) if a Member ceases to be a Member, and one or more Members, as soon as is reasonably practicable, contributes further capital to their Regulatory Capital Account in an aggregate amount equal to the amount to be reallocated or repaid; or

Repayments of Other Capital may be made by Resolution provided the majority of the Members are satisfied that following such repayment and any other repayments, the LLP will continue to have sufficient financial resources to meet working capital needs..

A Member's Other Capital Contribution shall be repaid only on the winding up of the LLP.

ON BEHALF OF THE MEMBERS:





S N Rowlands - Designated member


12 November 2024

CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
AFRICA PLATFORM CAPITAL LLP



In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs 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 Africa Platform Capital LLP for the year ended 31 March 2024 which comprise the Income Statement, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of Africa Platform Capital LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Africa Platform Capital LLP and state those matters that we have agreed to state to the members of Africa Platform Capital LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Africa Platform Capital LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Africa Platform Capital 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 profit of Africa Platform Capital LLP. You consider that Africa Platform Capital LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Africa Platform Capital 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.






Harold Sharp Limited
Chartered Accountants
5 Brooklands Place
Brooklands Road
Sale
Cheshire
M33 3SD


12 November 2024

AFRICA PLATFORM CAPITAL LLP (REGISTERED NUMBER: OC408134)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
£    £   

TURNOVER 311,024 74,721

Administrative expenses (188,696 ) (140,221 )
OPERATING PROFIT/(LOSS) 122,328 (65,500 )

Interest receivable and similar income 1 9
122,329 (65,491 )

Interest payable and similar expenses (204 ) (12 )
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR BEFORE MEMBERS'
REMUNERATION AND PROFIT
SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS





122,125





(65,503





)

AFRICA PLATFORM CAPITAL LLP (REGISTERED NUMBER: OC408134)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,285 -

CURRENT ASSETS
Debtors 5 861,928 967,545
Cash at bank 166,571 55,777
1,028,499 1,023,322
CREDITORS
Amounts falling due within one year 6 2,830 13,160
NET CURRENT ASSETS 1,025,669 1,010,162
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,026,954

1,010,162

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 1,026,954 1,010,162
1,026,954 1,010,162

TOTAL MEMBERS' INTERESTS
Members' other interests 1,026,954 1,010,162
Amounts due from members 5 (838,800 ) (960,925 )
188,154 49,237

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 year 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.

AFRICA PLATFORM CAPITAL LLP (REGISTERED NUMBER: OC408134)

BALANCE SHEET - continued
31 MARCH 2024


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

The financial statements were approved by the members of the LLP and authorised for issue on 12 November 2024 and were signed by:





S N Rowlands - Designated member

AFRICA PLATFORM CAPITAL LLP (REGISTERED NUMBER: OC408134)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Africa Platform Capital 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

After considering the limited liability partnership's future prospects, and ongoing support from the members, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. The LLP therefore continues to adopt the going concern basis in preparing its financial statements.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

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.

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.

AFRICA PLATFORM CAPITAL LLP (REGISTERED NUMBER: OC408134)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Members' drawings and the subscription and repayment of members' capital
In accordance with the LLP agreement, each Member shall have a Capital Account, which shall reflect the capital contributed by such Member to the LLP. Repayments of capital shall be debited to such Capital Account.

Each Member shall also have an income account.

The income of the LLP shall first be applied to pay the expenses, costs and/or liabilities of the LLP. After payments of any of the above amounts, and after setting aside such amounts as the Members by Resolution may deem necessary as a reserve against any future or contingent expenses or liabilities, the remaining income of the LLP shall be distributed as determined by the Members by Resolution. Allocated profit is included within 'loans and other debts due to members' on the Balance Sheet. Allocated and unallocated losses are included within 'amounts due from members'.

The Members are not entitled to make drawings under the current LLP Agreement.

The capital requirements of the LLP are determined by the Members and are reviewed regularly. No interest is paid on capital.

On leaving the partnership, a Member's capital is repaid within a timescale set by the Members.

Taxation
Tax to be paid on the profits arising in the LLP are a personal tax liability of the members of the LLP and therefore are not included as a tax charge or provision within these financial statements.

Deferred tax is recognised in respect of all material timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. Deferred tax assets and deferred tax liabilities are offset only if:

- the LLP has a legally enforceable right to set off current tax assets against current tax liabilities, and
- the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 3 (2023 - 2 ) .

AFRICA PLATFORM CAPITAL LLP (REGISTERED NUMBER: OC408134)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 3,529
Additions 1,454
At 31 March 2024 4,983
DEPRECIATION
At 1 April 2023 3,529
Charge for year 169
At 31 March 2024 3,698
NET BOOK VALUE
At 31 March 2024 1,285

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 1,646
Amounts due from members 838,800 960,925
Other debtors 11,842 40
VAT 2,523 1,952
Prepayments and accrued income 8,763 2,982
861,928 967,545

The amounts due from members represent the losses for the year including start up costs. These amounts have been fully funded by the members capital contribution of £1,026,954 (2023: £1,010,162).

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,432 869
Social security and other taxes - 2,216
Other creditors 398 413
Accrued expenses - 9,662
2,830 13,160

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

2020 2019
£ £
Amounts due to members - -

Loans and other debts due to members are unsecured and would rank pari passu with other unsecured creditors in the event of a winding up.

AFRICA PLATFORM CAPITAL LLP (REGISTERED NUMBER: OC408134)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. ULTIMATE CONTROLLING PARTY

The controlling party is S N Rowlands.