Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Emerge Venture Partners (General Partner) Limited 09/04/2019 Emerge Venture Lab Ltd 09/04/2019 17 April 2025 OC426853 2024-12-31 OC426853 bus:Director1 2024-12-31 OC426853 bus:Director2 2024-12-31 OC426853 core:CurrentFinancialInstruments 2024-12-31 OC426853 core:CurrentFinancialInstruments 2023-12-31 OC426853 2023-12-31 OC426853 2024-01-01 2024-12-31 OC426853 bus:FilletedAccounts 2024-01-01 2024-12-31 OC426853 bus:SmallEntities 2024-01-01 2024-12-31 OC426853 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 OC426853 bus:LimitedLiabilityPartnershipLLP 2024-01-01 2024-12-31 OC426853 bus:Director1 2024-01-01 2024-12-31 OC426853 bus:Director2 2024-01-01 2024-12-31 OC426853 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company No: OC426853 (England and Wales)

EMERGE VENTURE PARTNERS I (GP) LLP

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

EMERGE VENTURE PARTNERS I (GP) LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024

Contents

EMERGE VENTURE PARTNERS I (GP) LLP

BALANCE SHEET

AS AT 31 DECEMBER 2024
EMERGE VENTURE PARTNERS I (GP) LLP

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2024
Note 2024 2023
£ £
Current assets
Debtors 3 105 105
Cash at bank and in hand 1,924 1,924
2,029 2,029
Net current assets 2,029 2,029
Total assets less current liabilities 2,029 2,029
Net assets attributable to members 2,029 2,029
Represented by
Members' other interests
Members' capital classified as equity 1 1
Other reserves 2,028 2,028
2,029 2,029
2,029 2,029
Total members' interests
Members' other interests 2,029 2,029
2,029 2,029

For the financial year ending 31 December 2024 the LLP 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.

Members' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Emerge Venture Partners I (GP) LLP (registered number: OC426853) were approved and authorised for issue by the Board of Directors on 17 April 2025. They were signed on its behalf by:

Emerge Venture Partners (General Partner) Limited
Designated member
EMERGE VENTURE PARTNERS I (GP) LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
EMERGE VENTURE PARTNERS I (GP) LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Emerge Venture Partners I (GP) LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Jisc, 15 Fetter Lane, London, EC4A 1BW, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The members have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for management and advice services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities are classified according to the substance of the contractual arrangements entered into.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members’ participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, a financial liability, in accordance with section 22 of FRS 102. A member’s participation rights including amounts subscribed or otherwise contributed by members.

The division of profits are automatically determined by the terms of the LLP agreement. Amounts payable to members are charged to “members remuneration charged as an expense” in the relevant year.

All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'.

2. Employees

2024 2023
Number Number
The LLP has no employees 0 0

3. Debtors

2024 2023
£ £
Amounts owed by related parties 105 105