REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
NEXT WAVE PARTNERS III GP LLP |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
NEXT WAVE PARTNERS III GP LLP |
NEXT WAVE PARTNERS III GP LLP (REGISTERED NUMBER: OC414168) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
NEXT WAVE PARTNERS III GP LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
4th Floor Tuition House |
27-37 St George's Road |
Wimbledon |
London |
SW19 4EU |
NEXT WAVE PARTNERS III GP LLP (REGISTERED NUMBER: OC414168) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors |
CREDITORS |
Amounts falling due within one year | 5 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET LIABILITIES ATTRIBUTABLE TO MEMBERS |
- |
- |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
- |
- |
TOTAL MEMBERS' INTERESTS |
Amounts due from members | (10,878 | ) | (10,878 | ) |
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. |
The financial statements were approved by the members of the LLP and authorised for issue on |
NEXT WAVE PARTNERS III GP LLP (REGISTERED NUMBER: OC414168) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Next Wave Partners III GP 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 |
Preparation of consolidated financial statements |
The LLP is a General Partner of the Next Wave branded limited partnership investment funds (the "Funds"). In accordance with the Limited Partnership Agreement the LLP has delegated the operation and management of the Funds to Next Wave Partners LLP (the "Manager"). As a result, the LLP does not consolidate the financial results of the Funds, and the accounts have been prepared for the LLP on a standalone, single entity basis. |
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. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2023 - NIL). |
4. | FIXED ASSET INVESTMENTS |
The LLP's investments at the Balance sheet date in the share capital of companies include the following: |
Next Wave Partners III LP & Next Wave Partners III A LP |
The LLP is the General Partner of the Next Wave branded limited partnership investment funds (the "Funds"). In accordance with the Limited Partnership Agreements the LLP has delegated the operation and management of the Funds to Next Wave Partners LLP (the "Manager"). The LLP performs these activities in a fiduciary capacity and does not exercise control for its own benefit. |
The majority of the economic interests in the Funds are held by the limited partner investors in those funds, and the LLP's economic interest in those Funds is £nil and is limited to an indirect entitlement to receive a management fee from the respective Funds. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |