REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
NEXT WAVE PARTNERS FP III GP LLP |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
NEXT WAVE PARTNERS FP III GP LLP |
NEXT WAVE PARTNERS FP III GP LLP (REGISTERED NUMBER: SO305845) |
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 FP III GP LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DESIGNATED MEMBERS: |
Next Wave Partners LLP |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
4th Floor Tuition House |
27-37 St George's Road |
Wimbledon |
London |
SW19 4EU |
NEXT WAVE PARTNERS FP III GP LLP (REGISTERED NUMBER: SO305845) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors |
CREDITORS |
Amounts falling due within one year | 4 |
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 | (18,094 | ) | (16,631 | ) |
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 FP III GP LLP (REGISTERED NUMBER: SO305845) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Next Wave Partners FP III GP LLP is registered in Scotland. 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 |
The financial statements have been prepared under the going concern principle. The members believe that this is appropriate because the company has sufficient working capital to meet its creditors as they fall due and receives support from the parent entity. |
Preparation of consolidated financial statements |
The Partnership is a General Partner of Next Wave FP III LP (the "Partnership"). In accordance with the Limited Partnership Agreement, the Partnership has delegate the operation and management of the Partnership to Next Wave Partners LLP (the "Manager"). As a result, the Partnership does not consolidate the financial results of the Partnership, and the accounts have been prepared for the Partnership on a standalone, single entity basis. |
Related party exemption |
The Partnership 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. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2023 - NIL). |
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |
Accrued expenses |