| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 22 DECEMBER 2023 TO 31 DECEMBER 2024 |
| FOR |
| WEP EUROPE LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 22 DECEMBER 2023 TO 31 DECEMBER 2024 |
| FOR |
| WEP EUROPE LIMITED |
| WEP EUROPE LIMITED (REGISTERED NUMBER: 15368088) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 22 DECEMBER 2023 TO 31 DECEMBER 2024 |
| Page |
| Company information | 1 |
| Balance sheet | 2 |
| Notes to the financial statements | 3 |
| WEP EUROPE LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 22 DECEMBER 2023 TO 31 DECEMBER 2024 |
| Director: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| First Floor, Templeback |
| 10 Temple back |
| Bristol |
| BS1 6FL |
| WEP EUROPE LIMITED (REGISTERED NUMBER: 15368088) |
| BALANCE SHEET |
| 31 DECEMBER 2024 |
| Notes | £ |
| FIXED ASSETS |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) |
| NET CURRENT LIABILITIES | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the director and authorised for issue on |
| WEP EUROPE LIMITED (REGISTERED NUMBER: 15368088) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 22 DECEMBER 2023 TO 31 DECEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| WEP Europe Limited is a |
| The company’s functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about WEP Europe Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Financial instruments |
| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. |
| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
| Financial assets and liabilities are offset, with 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. |
| Classification of financial liabilities |
| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. |
| Basic financial liabilities |
| Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price. |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to income statement in the period to which they relate. |
| WEP EUROPE LIMITED (REGISTERED NUMBER: 15368088) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 22 DECEMBER 2023 TO 31 DECEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Lease commitments |
| Rentals paid under operating leases are charged to income statement on a straight line basis over the period of the lease. |
| Going concern |
| These financial statements have been prepared on a going concern basis. Management has assessed that itis expected to continue operating for the foreseeable future. This assessment is supported by the company’s stable sub-advisory fee income from its parent company, Warren Equity Partners Manager, L.P., which provides a consistent and reliable source of revenue. Additionally, no material uncertainties have been identified that would cast significant doubt on the company’s ability to continue as a going concern. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| 4. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| Cost |
| Additions |
| At 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Amounts owed to group undertakings |
| Other creditors |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal |
| value: | £ |
| Ordinary | £1 | 1 |
| 1 Ordinary share of £1 was allotted and fully paid for |
| 8. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party and the immediate parent is Warren Equity Partners Manager, L.P is registered in the United State of America. The registered address is 3948 3rd Street S., #88, Jacksonville Beach, FL 32250, Florida, USA. |