01 Ventures I GP LLP OC412313 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is acting as the general partner of the 01 Ventures Fund. Digita Accounts Production Advanced 6.30.9574.0 OC412313 2023-07-01 2024-06-30 OC412313 2024-06-30 OC412313 bus:SmallEntities 2023-07-01 2024-06-30 OC412313 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 OC412313 bus:FullAccounts 2023-07-01 2024-06-30 OC412313 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 OC412313 bus:RegisteredOffice 2023-07-01 2024-06-30 OC412313 bus:PartnerLLP1 2023-07-01 2024-06-30 OC412313 bus:PartnerLLP2 2023-07-01 2024-06-30 OC412313 bus:LimitedLiabilityPartnershipLLP 2023-07-01 2024-06-30 OC412313 countries:AllCountries 2023-07-01 2024-06-30 OC412313 2022-07-01 2023-06-30 xbrli:pure

Registration number: OC412313

01 Ventures I GP LLP

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

01 Ventures I GP LLP

Contents

Limited liability partnership information

1

Financial Statements

2 to 6

Balance Sheet

2

Statement of Changes in Members’ Interests

4

Notes to the Financial Statements

5

 

01 Ventures I GP LLP

Limited liability partnership information

Designated members

01 Ventures Nominee II Limited

01 Ventures Nominee I Limited
 

Registered office

74a Station Road East
Oxted
Surrey
RH8 0PG

Accountants

Smart Accounting & Tax Solutions LLP
74A Station Road East
Oxted
Surrey
RH8 0PG

 

01 Ventures I GP LLP

(Registration number: OC412313)
Balance Sheet as at 30 June 2024

Note

2024
 £

2023
 £

Current assets

 

Cash and short-term deposits

 

2

2

Net assets attributable to members

 

2

2

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

2

2

   

2

2

Total members' interests

 

Loans and other debts due to members

 

2

2

   

2

2

 

01 Ventures I GP LLP

(Registration number: OC412313)
Balance Sheet as at 30 June 2024

For the year ending 30 June 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of 01 Ventures I GP LLP (registered number OC412313) were approved by the Board and authorised for issue on 22 March 2025. They were signed on behalf of the limited liability partnership by:

.........................................
01 Ventures Nominee II Limited
Designated member

 

01 Ventures I GP LLP

Statement of Changes in Members’ Interests
At 30 June 2024

 

Loans and other debts due to/(from) members

 

Members' capital classified as a liability
£

Total
2024
 £

Members' interest at 1 July 2023

2

2

At 30 June 2024

2

2

 

01 Ventures I GP LLP

Notes to the Financial Statements for the Year Ended 30 June 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of 01 Ventures I GP LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

 

01 Ventures I GP LLP

Notes to the Financial Statements for the Year Ended 30 June 2024

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 1 (2023 - 1).