Limited Liability Partnership Registration No. SO307687 (Scotland)
RYSE SPECIAL OPPORTUNITIES I GP LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
RYSE SPECIAL OPPORTUNITIES I GP LLP
LIMITED LIABILITY PARTNERSHIP INFORMATION
Designated members
RYSE Health Ltd
RYSE Healthcare Ltd
Limited liability partnership number
SO307687
Registered office
c/o Johnston Carmichael
Bishop's Court
29 Albyn Place
Aberdeen
AB10 1YL
Accountants
Johnston Carmichael LLP
227 West George Street
Glasgow
G2 2ND
RYSE SPECIAL OPPORTUNITIES I GP LLP
CONTENTS
Page
Members' report
1
Members' responsibilities statement
2
Statement of comprehensive income
3
Balance sheet
4
Reconciliation of members' interests
5 - 6
Statement of cash flows
7
Notes to the financial statements
8 - 9
RYSE SPECIAL OPPORTUNITIES I GP LLP
MEMBERS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -

The members present their annual report and financial statements for the year ended 30 September 2024.

Principal activities

The limited liability partnership has not traded in the period from incorporation to the reporting date.

Members' drawings, contributions and repayments

The members' drawing policy allows each member to draw a proportion of their profit share, subject to the cash requirements of the business.

 

A member's capital requirement is linked to their share of profit and the financing requirement of the limited liability partnership. There is no opportunity for appreciation of any capital subscribed. Just as incoming members introduce any capital at "par", so the retiring members are repaid any capital at "par".

Designated members

The designated members who held office during the year and up to the date of signature of the financial statements were as follows:

RYSE Health Ltd
RYSE Healthcare Ltd
Approved by the members on 15 July 2025 and signed on their behalf by:
S Chowdhary (for and on behalf of)
S Chowdhary (for and on behalf of)
RYSE Health Ltd
RYSE Healthcare Ltd
Designated Member
Designated Member
RYSE SPECIAL OPPORTUNITIES I GP LLP
MEMBERS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -

The members are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the limited liability partnership and of the profit or loss of the limited liability partnership for that period.

 

In preparing these financial statements, the members are required to:

 

 

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the limited liability partnership’s transactions and disclose with reasonable accuracy at any time the financial position of the limited liability partnership and enable them to ensure that the financial statements comply with the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008). They are also responsible for safeguarding the assets of the limited liability partnership and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

RYSE SPECIAL OPPORTUNITIES I GP LLP
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
Year
Period
ended
ended
30 September
30 September
2024
2023
Notes
£
£
Profit for the financial year before members' remuneration and profit shares available for discretionary division among members
-
0
-
0
Members' remuneration charged as an expense
3
-
-
Result for the financial year available for discretionary division among members
-
-

The statement of comprehensive income has been prepared on the basis that all operations are continuing operations.

RYSE SPECIAL OPPORTUNITIES I GP LLP
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 4 -
2024
2023
£
£
Net assets attributable to members
-
-
Represented by:
Other reserves classified as equity
-
-
Total members' interests
Members' other interests
-
-

For the financial year ended 30 September 2024 the limited liability partnership was entitled to exemption from audit under section 480 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to dormant limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

The financial statements were approved by the members and authorised for issue on 15 July 2025 and are signed on their behalf by:
15 July 2025
S Chowdhary (for and on behalf of)
S Chowdhary (for and on behalf of)
RYSE Health Ltd
RYSE Healthcare Ltd
Designated member
Designated Member
Limited Liability Partnership Registration No. SO307687
RYSE SPECIAL OPPORTUNITIES I GP LLP
RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
Current financial year
TOTAL
MEMBERS'
INTERESTS
Total
2024
£
Members' interests at 1 October 2023
-
Result for the financial year available for discretionary division among members
-
Members' interests after result for the year
-
Members' interests at 30 September 2024
-
RYSE SPECIAL OPPORTUNITIES I GP LLP
RECONCILIATION OF MEMBERS' INTERESTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
Prior financial year
TOTAL
MEMBERS'
INTERESTS
Total
2023
£
Members' interests at 20 December 2022
-
Result for the financial year available for discretionary division among members
-
Members' interests after result for the period
-
Members' interests at 30 September 2023
-
RYSE SPECIAL OPPORTUNITIES I GP LLP
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
Year
Period
ended
ended
30 September
30 September
2024
2023
Notes
£
£
Cash flows from operating activities
Cash generated by operations
6
-
-
Net cash flow from operating activities
-
-
Net cash flow from investing activities
-
-
Net cash flow from financing activities
-
-
Net increase in cash and cash equivalents
-
-
Cash and cash equivalents at beginning of year
-
-
Cash and cash equivalents at end of year
-
-
RYSE SPECIAL OPPORTUNITIES I GP LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 8 -
1
Accounting policies
Limited liability partnership information

RYSE Special Opportunities I GP LLP is a limited liability partnership incorporated in Scotland. The registered office is c/o Johnston Carmichael, Bishop's Court, 29 Albyn Place, Aberdeen, AB10 1YL.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the members have a reasonable expectation that the limited liability partnership has adequate resources to continue in operational existence for the foreseeable future. Thus the members continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Reporting period

These financial statements cover the year ended 30 September 2024. The previous financial statements covered the period from the LLP's incorporation on 20 December 2022 to 30 September 2023.

1.4
Members' participating interests

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, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

2
Employees

The limited liability partnership had no employees during the current or prior financial periods.

RYSE SPECIAL OPPORTUNITIES I GP LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 9 -
3
Information in relation to members
2024
2023
Number
Number
Average number of members during the year
2
2

No members received remuneration from the limited liability partnership during the current or prior financial periods.

4
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors. There were no loans and other debts due to members at the reporting date.

5
Ultimate controlling party

The limited liability partnership's immediate and ultimate parent undertaking is RYSE Asset Management LLP.

 

The ultimate controlling party is S Chowdhary.

6
Cash generated by operations
2024
2023
£
£
Result for the year
-
-
Cash generated by operations
-
-
7
Analysis of changes in net funds
1 October 2023
Cash flows
30 September 2024
£
£
£
Cash at bank and in hand
-
-
-
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