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Registered number: 13259389









BVP UK & EUROPE INVESTORS LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
BVP UK & EUROPE INVESTORS LIMITED
REGISTERED NUMBER: 13259389

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
81,381
22,049

Current assets
  

Debtors: amounts falling due after more than one year
 5 
196,101
-

Debtors: amounts falling due within one year
 5 
895,115
726,114

Cash at bank and in hand
 6 
55,950
5,238

  
1,147,166
731,352

Creditors: amounts falling due within one year
 7 
(324,276)
(271,398)

Net current assets
  
 
 
822,890
 
 
459,954

Total assets less current liabilities
  
904,271
482,003

Creditors: amounts falling due after more than one year
  
(74,201)
-

  
830,070
482,003

Provisions for liabilities
  

Deferred tax
  
(11,084)
(2,452)

Net assets
  
818,986
479,551


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
817,986
478,551

  
818,986
479,551


Page 1

 
BVP UK & EUROPE INVESTORS LIMITED
REGISTERED NUMBER: 13259389
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


S Grippo
Director
Date: 28 March 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
BVP UK & EUROPE INVESTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

BVP UK & Europe Investors Limited (the Company) is a company incorporated in the United Kingdom under the Companies Act.
The Company is a private company limited by shares and is registered in England and Wales under the Companies Act. The registered office is Suite 1, 7th Floor, 50 Broadway, London, SW1H 0DB.
The principal activity of the Company is to provide information, research and analysis to the parent company, Deer Management Co. LLC, regarding the investment, disinvestment and reinvestment of certain assets of funds, primarily in the UK and Europe.

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

Going concern

The directors have received confirmation of continued financial support for the foreseeable future from its parent company, Deer Management Co. LLC.
The directors have a reasonable expectation that the Company and the Group have adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 3

 
BVP UK & EUROPE INVESTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue represents amounts charged to the Company's parent company under an intercompany agreement at cost plus 10%. Revenue is recognised when chargeable costs are incurred.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 4

 
BVP UK & EUROPE INVESTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
36 months
Computer equipment
-
36 months

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

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.

 
2.10

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.

Page 5

 
BVP UK & EUROPE INVESTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2023 - 9).


4.


Tangible fixed assets





Leasehold improvements
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
18,628
10,294
28,922


Additions
38,755
51,222
89,977



At 31 March 2024

57,383
61,516
118,899



Depreciation


At 1 April 2023
4,464
2,409
6,873


Charge for the year on owned assets
14,716
15,929
30,645



At 31 March 2024

19,180
18,338
37,518



Net book value



At 31 March 2024
38,203
43,178
81,381



At 31 March 2023
14,164
7,885
22,049

Page 6

 
BVP UK & EUROPE INVESTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
196,101
-


2024
2023
£
£

Due within one year

Amounts owed by group undertakings
647,014
516,415

Other debtors
110,961
128,784

Prepayments and accrued income
137,140
80,915

895,115
726,114



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
55,950
5,238

Less: bank overdrafts
-
(96)

55,950
5,142



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
96

Trade creditors
47,311
89,143

Corporation tax
130,210
124,045

Other creditors
35,882
-

Accruals and deferred income
110,873
58,114

324,276
271,398


Page 7

 
BVP UK & EUROPE INVESTORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
74,201
-



9.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
217,890
95,030

Later than 1 year and not later than 5 years
378,379
581,040

596,269
676,070


10.


Transactions with directors

Included within other debtors are amounts advanced to A Ferrara amounting to £50,000 (2023: £43,750). These amounts are interest free.


11.


Controlling party

Deer Management Co. LLC, a company incorporated in the United States of America, is regarded by the directors as being the Company's ultimate parent company and controlling party.
The largest and smallest group of undertakings for which group accounts are drawn up and which includes the Company is Deer Management Co. LLC, registered address 80 State Street, Albany, 12207 NY, USA.


12.


Auditor's information

The auditor's report on the financial statements for the year ended 31 March 2024 was unqualified.

The audit report was signed on 28 March 2025 by Karen Cairns (Senior Statutory Auditor) on behalf of Nortons Assurance Limited.

 
Page 8