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Company No: OC437120 (England and Wales)

DAVID CAPITAL PARTNERS EUROPE LLP

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

DAVID CAPITAL PARTNERS EUROPE LLP

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

DAVID CAPITAL PARTNERS EUROPE LLP

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
DAVID CAPITAL PARTNERS EUROPE LLP

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Current assets
Debtors 3 36,526 34,934
Cash at bank and in hand 1,714 2,766
38,240 37,700
Creditors: amounts falling due within one year 4 ( 3,240) ( 2,700)
Net current assets 35,000 35,000
Total assets less current liabilities 35,000 35,000
Net assets attributable to members 35,000 35,000
Represented by
Members' other interests
Members' capital classified as equity 35,000 35,000
35,000 35,000
35,000 35,000
Total members' interests
Members' other interests 35,000 35,000
35,000 35,000

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:

The financial statements of David Capital Partners Europe LLP (registered number: OC437120) were approved and authorised for issue by the Board of Directors on 01 May 2025. They were signed on its behalf by:

H Talebali
Designated member
DAVID CAPITAL PARTNERS EUROPE LLP

RECONCILIATION OF MEMBERS' INTERESTS

For the financial year ended 31 December 2024
DAVID CAPITAL PARTNERS EUROPE LLP

RECONCILIATION OF MEMBERS' INTERESTS (continued)

For the financial year ended 31 December 2024
EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity) Other amounts Total
£ £ £
Balance at 01 January 2023 35,000 0 35,000
Members' remuneration charged as an expense, including employment and retirement benefit costs 0 140,820 140,820
Members' interest after result for the financial year 35,000 140,820 175,820
Drawings 0 (140,820) (140,820)
Balance at 31 December 2023 35,000 0 35,000
Members' remuneration charged as an expense, including employment and retirement benefit costs 0 141,004 141,004
Members' interest after result for the financial year 35,000 141,004 176,004
Drawings 0 (141,004) (141,004)
Balance at 31 December 2024 35,000 0 35,000

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

DAVID CAPITAL PARTNERS EUROPE LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
DAVID CAPITAL PARTNERS EUROPE 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

David Capital Partners Europe 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 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, 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 £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Turnover 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 turnover 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the LLP during the year 1 1

3. Debtors

2024 2023
£ £
Other debtors 36,526 34,934

4. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 3,240 2,700