Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31falsefalse2trueNo description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.22023-06-01false OC427536 2023-06-01 2024-05-31 OC427536 2022-06-01 2023-05-31 OC427536 2024-05-31 OC427536 2023-05-31 OC427536 c:CurrentFinancialInstruments 2024-05-31 OC427536 c:CurrentFinancialInstruments 2023-05-31 OC427536 c:CurrentFinancialInstruments c:WithinOneYear 2024-05-31 OC427536 c:CurrentFinancialInstruments c:WithinOneYear 2023-05-31 OC427536 d:FRS102 2023-06-01 2024-05-31 OC427536 d:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 OC427536 d:FullAccounts 2023-06-01 2024-05-31 OC427536 d:LimitedLiabilityPartnershipLLP 2023-06-01 2024-05-31 OC427536 d:PartnerLLP1 2023-06-01 2024-05-31 OC427536 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-05-31 OC427536 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-05-31 OC427536 c:FurtherSpecificReserve3ComponentTotalEquity 2024-05-31 OC427536 c:FurtherSpecificReserve3ComponentTotalEquity 2023-05-31 OC427536 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: OC427536









PSSIF CARRIED INTEREST LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
PSSIF CARRIED INTEREST LLP
REGISTERED NUMBER: OC427536

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

  

Current assets
  

Cash at bank and in hand
 4 
2,998
3,478

  
2,998
3,478

Creditors: Amounts Falling Due Within One Year
 5 
(2,040)
(900)

Net current assets
  
 
 
958
 
 
2,578

Total assets less current liabilities
  
958
2,578

  

Net assets
  
958
2,578


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 6 
(7,142)
(5,522)

  
(7,142)
(5,522)

Members' other interests
  

Members' capital classified as equity
  
8,100
8,100

  
 
8,100
 
8,100

  
958
2,578


Total members' interests
  

Loans and other debts due to members
 6 
(7,142)
(5,522)

Members' other interests
  
8,100
8,100

  
958
2,578


Page 1

 
PSSIF CARRIED INTEREST LLP
REGISTERED NUMBER: OC427536
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 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 by: 




Altana Wealth Limited
Designated member

Date: 11 March 2025

The notes on pages 3 to 5 form part of these financial statements.

PSSIF Carried Interest 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 2

 
PSSIF CARRIED INTEREST LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

PSSIF Carried Interest LLP is a limited liability partnership incorporated in the United Kingdom and registered in England and Wales (registered number OC427536). The Partnership's registered office address is 175 Oxford Street, London, W1D 2JS.
The financial statements are presented in Sterling, which is the functional currency of the LLP.

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
PSSIF CARRIED INTEREST LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
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 automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .

In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.

 
2.4

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.

 
2.5

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 year was 2 (2023 - 2).


4.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,998
3,478

2,998
3,478


Page 4

 
PSSIF CARRIED INTEREST LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Accruals and deferred income
2,040
900

2,040
900



6.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
(7,142)
(5,522)

(7,142)
(5,522)

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

2024
2023
£
£



Falling due within one year
(7,142)
(5,522)

(7,142)
(5,522)

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

Page 5