REGISTERED NUMBER: OC444746 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SPECTRUM EQUITY UK, LLP

Page

General information

1

Balance sheet

2

Notes to the financial statements

3

Designated members:

P Khandelwal

Spectrum Equity Management UK, LLC

Spectrum Equity Management UK, Ltd

Registered office:

Suite 1, 7th Floor

50 Broadway

London

SW1H 0DB

Registered number:

OC444746 (England and Wales)

Auditors:

Fuller & Roper Limited

Chartered Accountants and Statutory Auditors

12 Old Mills Industrial Estate

Paulton

BS39 7SU

FIXED ASSETS

Tangible assets

4

25,317

22,034

CURRENT ASSETS

Debtors

5

1,396,267

205,771

Cash at bank and in hand

339,056

629,772

1,735,323

835,543

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

6

(860,351

)

(414,178

)

NET CURRENT ASSETS

874,972

421,365

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

900,289

443,399

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

900,289

443,399

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

900,289

443,399

Amounts due from members

5

(431,981

)

-

468,308

443,399

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 12 September 2025 and were signed by:

P Khandelwal - Designated member

1.	STATUTORY INFORMATION

Spectrum Equity 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Tangible assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

No Depreciation is charged on Artwork.

Computer Equipment - 33.33% on straight line basis.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to Income statement on a straight line basis over the period of the lease.

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 Income statement in the period to which they relate.

Going concern

The LLP's ultimate parent company, Spectrum, Equity Management, LP, is contributing cash to cover the costs the LLP incurs and has entered into a management service agreement with the LLP. Spectrum, Equity Management, LP has agreed to support the company financially for at least 12 months from the date the financial statements are signed.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 4 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Computer Equipment

Artwork

£

£

Cost

At 1 January 2024

13,821

9,943

Additions

9,255

-

At 31 December 2024

23,076

9,943

Depreciation

At 1 January 2024

1,731

-

Charge for the year

5,972

-

At 31 December 2024

7,702

-

Net book value

At 31 December 2024

15,374

9,943

At 31 December 2023

12,091

9,943

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

149,518

-

Other debtors

1,246,749

205,771

1,396,267

205,771

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

71,727

15,819

Amounts owed to group undertakings

-

4,346

Other creditors

788,624

394,013

860,351

414,178

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

The aggregate amount of money owed to members by the LLP in respect of profits is £147,518 (2023 - £133,000).

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.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the auditors was unqualified.

Simon Roper (Senior Statutory Auditor)

for and on behalf of Fuller & Roper Limited

9.	FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £778,299 (2023 - £1,250,910).

10.	ULTIMATE CONTROLLING PARTY

The immediate parent undertaking is Spectrum Equity Management UK, Ltd a company incorporated in England & Wales. The ultimate parent company is considered to be Spectrum Management GP LLC, a company formed under the laws of Delaware, USA.