Silverfin false false 30/08/2024 31/08/2023 30/08/2024 Jon Robert Jenkins 13/08/2021 Luke Oliver Johnson 13/08/2021 22 May 2025 OC438730 2024-08-30 OC438730 bus:Director1 2024-08-30 OC438730 bus:Director2 2024-08-30 OC438730 2023-08-30 OC438730 core:CurrentFinancialInstruments 2024-08-30 OC438730 core:CurrentFinancialInstruments 2023-08-30 OC438730 core:CostValuation 2023-08-30 OC438730 core:CostValuation 2024-08-30 OC438730 core:ProvisionsForImpairmentInvestments 2023-08-30 OC438730 core:ImpairmentLossProvisionsForImpairmentInvestments 2024-08-30 OC438730 core:ProvisionsForImpairmentInvestments 2024-08-30 OC438730 2023-08-31 2024-08-30 OC438730 bus:FilletedAccounts 2023-08-31 2024-08-30 OC438730 bus:SmallEntities 2023-08-31 2024-08-30 OC438730 bus:AuditExemptWithAccountantsReport 2023-08-31 2024-08-30 OC438730 bus:LimitedLiabilityPartnershipLLP 2023-08-31 2024-08-30 OC438730 bus:Director1 2023-08-31 2024-08-30 OC438730 bus:Director2 2023-08-31 2024-08-30 OC438730 2022-08-31 2023-08-30 iso4217:GBP xbrli:pure

Company No: OC438730 (England and Wales)

RISK CAPITAL PARTNERS HOLDINGS LLP

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 AUGUST 2024
PAGES FOR FILING WITH THE REGISTRAR

RISK CAPITAL PARTNERS HOLDINGS LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 AUGUST 2024

Contents

RISK CAPITAL PARTNERS HOLDINGS LLP

BALANCE SHEET

AS AT 30 AUGUST 2024
RISK CAPITAL PARTNERS HOLDINGS LLP

BALANCE SHEET (continued)

AS AT 30 AUGUST 2024
Note 2024 2023
£ £
Restated - note 2
Fixed assets
Investments 4 1,825,534 2,189,946
1,825,534 2,189,946
Current assets
Cash at bank and in hand 38 68
38 68
Creditors: amounts falling due within one year 5 ( 16,678) ( 6,379)
Net current liabilities (16,640) (6,311)
Total assets less current liabilities 1,808,894 2,183,635
Net assets attributable to members 1,808,894 2,183,635
Represented by
Loans and other debts due to members within one year
Members' capital classified as a liability 1,925,866 2,290,228
Other amounts (116,972) (106,643)
1,808,894 2,183,585
Members' other interests
Members' capital classified as equity 0 50
0 50
1,808,894 2,183,635
Total members' interests
Loans and other debts due to members 1,808,894 2,183,585
Members' other interests 0 50
1,808,894 2,183,635

For the financial year ending 30 August 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 Risk Capital Partners Holdings LLP (registered number: OC438730) were approved and authorised for issue by the Board of Directors on 22 May 2025. They were signed on its behalf by:

Jon Robert Jenkins
Designated member
RISK CAPITAL PARTNERS HOLDINGS LLP

RECONCILIATION OF MEMBERS' INTERESTS

FOR THE FINANCIAL YEAR ENDED 30 AUGUST 2024
RISK CAPITAL PARTNERS HOLDINGS LLP

RECONCILIATION OF MEMBERS' INTERESTS (continued)

FOR THE FINANCIAL YEAR ENDED 30 AUGUST 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) Members' capital (classified as debt) Other amounts Total Total
£ £ £ £ £
Amounts due to members 2,348,684 (1,256) 2,347,428
Balance at 31 August 2022 50 2,348,684 (1,256) 2,347,428 2,347,478
Members' remuneration charged as an expense, including employment and retirement benefit costs 0 0 (105,387) (105,387) (105,387)
Members' interest after result for the financial year 50 2,348,684 (106,643) 2,242,041 2,242,091
Amounts written down 0 (58,456) 0 (58,456) (58,456)
Amounts due to members 2,290,228 (106,643) 2,183,585
Balance at 30 August 2023 (restated - note 2) 50 2,290,228 (106,643) 2,183,585 2,183,635
Members' remuneration charged as an expense, including employment and retirement benefit costs 0 0 (10,329) (10,329) (10,329)
Members' interest after result for the financial year 50 2,290,228 (116,972) 2,173,256 2,173,306
Transfers (50) 50 0 50 0
Amounts written down 0 (364,412) 0 (364,412) (364,412)
Amounts due to members 1,925,866 (116,972) 1,808,894
Balance at 30 August 2024 0 1,925,866 (116,972) 1,808,894 1,808,894

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

RISK CAPITAL PARTNERS HOLDINGS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 AUGUST 2024
RISK CAPITAL PARTNERS HOLDINGS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 AUGUST 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

Risk Capital Partners Holdings 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 31 North Row, London, W1K 6DA, 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 LLP 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 note that the business has net assets of £1,808,894. The LLP is supported through loans from the members. The members have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the members will continue to support the LLP. Given the current position, the members believe that any foreseeable debts can be met 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.

Prior year adjustment

The 2023 financial statements have been updated to show the profits/losses as members remuneration charged as an expense rather than being available for discretionary division. The updated presentation more accurately reflects the terms of the LLP agreement.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Fixed asset investments

Investments are initially recognised at cost. Subsequently, they are measured at cost less impairment, with any impairment charged through the profit or loss.

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 LLP becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the LLP after deducting all of its liabilities.

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 LLP 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the LLP transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the LLP, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at cost.

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.

Financial liabilities are derecognised when the LLP’s contractual obligations expire or are discharged or cancelled.

Members' participation rights

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 the statement of comprehensive income.

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. Prior year adjustment

The 2023 financial statements have been updated to show the profits/losses as members remuneration charged as an expense rather than being available for discretionary division. The updated presentation more accurately reflects the terms of the LLP agreement.

As previously reported Adjustment As restated
Year ended 30 August 2023 £ £ £
Members' remuneration charged as an expense 0 105,387 105,387
Loans and other debts due to members within one year - other amounts 0 (106,643) (106,643)
Members' other interests - other reserves (106,643) 106,643 0
Total members' interests - loans and other debts due to members 2,290,228 (106,643) 2,183,585
Members' other interests (106,593) 106,643 50

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the LLP during the year 0 0

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 31 August 2023 2,788,684 2,788,684
At 30 August 2024 2,788,684 2,788,684
Provisions for impairment
At 31 August 2023 598,738 598,738
Impairment 364,412 364,412
At 30 August 2024 963,150 963,150
Carrying value at 30 August 2024 1,825,534 1,825,534
Carrying value at 30 August 2023 2,189,946 2,189,946

During the year, there was a novation of an unlisted investment for a total of £394,036.

5. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 16,678 6,379