| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 26 MARCH 2024 TO 31 DECEMBER 2024 |
| FOR |
| WARREN EQUITY PARTNERS UK LLP |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 26 MARCH 2024 TO 31 DECEMBER 2024 |
| FOR |
| WARREN EQUITY PARTNERS UK LLP |
| WARREN EQUITY PARTNERS UK LLP (REGISTERED NUMBER: OC451581) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 26 MARCH 2024 TO 31 DECEMBER 2024 |
| Page |
| General information | 1 |
| Balance sheet | 2 |
| Notes to the financial statements | 3 |
| WARREN EQUITY PARTNERS UK LLP |
| GENERAL INFORMATION |
| FOR THE PERIOD 26 MARCH 2024 TO 31 DECEMBER 2024 |
| Designated members: |
| WEP Europe Limited |
| Registered office: |
| Registered number: |
| Accountants: |
| First Floor, Templeback |
| 10 Temple back |
| Bristol |
| BS1 6FL |
| WARREN EQUITY PARTNERS UK LLP (REGISTERED NUMBER: OC451581) |
| BALANCE SHEET |
| 31 DECEMBER 2024 |
| Notes | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| and |
| NET ASSETS ATTRIBUTABLE TO MEMBERS |
414,868 |
| LOANS AND OTHER DEBTS DUE TO MEMBERS |
7 |
414,868 |
| TOTAL MEMBERS' INTERESTS |
| Loans and other debts due to members | 7 | 414,868 |
| The members acknowledge their responsibilities for: |
| (a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
| The financial statements were approved by the members of the LLP and authorised for issue on |
| WARREN EQUITY PARTNERS UK LLP (REGISTERED NUMBER: OC451581) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 26 MARCH 2024 TO 31 DECEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Warren Equity Partners UK LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
| The LLP’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 results of Warren Equity Partners UK LLP are consolidated into the financial statements of its UK parent, WEP Europe Limited, which is wholly owned by the ultimate US parent entity, Warren Equity Partners Manager, L.P.. |
| Turnover |
| Turnover comprises fees for investment sub-advisory, and related services provided during the period. Turnover is recognised when the service is performed, and it is probable that economic benefits will be received. |
| Tangible fixed assets |
| Leasehold improvements are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Depreciation is recognised on a Straight-line basis over the shorter of the estimated useful life of the asset and the remaining lease term (12 months in this case). |
| Financial instruments |
| The LLP 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 LLP'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, re initially recognised at transaction price. |
| 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 initially recognised at transaction price. |
| 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 LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate. |
| Going concern |
| Warren Equity Partners UK LLP is expected to continue as a going concern, supported by stable sub-advisory fee income from its ultimate controlling party, Warren Equity Partners Manager, L.P., and the absence of any material uncertainties that would significantly impact the LLP's ability to operate for the foreseeable future. |
| WARREN EQUITY PARTNERS UK LLP (REGISTERED NUMBER: OC451581) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 26 MARCH 2024 TO 31 DECEMBER 2024 |
| 3. | EMPLOYEE INFORMATION |
| The average number of employees during the period was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| Cost |
| Additions |
| At 31 December 2024 |
| Depreciation |
| Charge for period |
| At 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Trade creditors | ( |
) |
| Other creditors |
| 7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
| The aggregate amount of money owed to members by the LLP in respect of profits is £607,656. |
| In the event of a winding up, amounts included within 'Loans and other debts due to members' would rank equally with unsecured creditors. |
| There are no restrictions or limitations existing on the ability of the members to reduce the amount of 'Members' other interests'. |
| 8. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is considered to be Warren Equity Partners Manager, L.P., entity incorporated in the United States of America and the immediate parent is WEP Europe Limited is registered in the England and Wales with a registered office at Suite 1, 7th Floor, 50 Broadway, London, SW1H 0DB. |