US3 Partnership LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC353180 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

US3 Partnership LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Renown Pharma Limited

R A B Stewart

REGISTERED OFFICE:

10 Station Road

Henley on Thames

Oxfordshire

RG9 1AY

REGISTERED NUMBER:

OC353180 (England and Wales)

ACCOUNTANTS:

Ridgefield Consulting Ltd

2 Hinksey Court

Church Way

Oxford

Oxfordshire

OX2 9SX

FIXED ASSETS

Intangible assets

4

-

36

CREDITORS

Amounts falling due within one year

5

156,361

154,861

NET CURRENT LIABILITIES

(156,361

)

(154,861

)

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET LIABILITIES ATTRIBUTABLE TO
MEMBERS

(156,361

)

(154,825

)

LOANS AND OTHER DEBTS DUE TO
MEMBERS

6

225

MEMBERS' OTHER INTERESTS

Capital accounts

1,500

Other reserves

(158,086

)

(156,550

)

(156,361

)

(154,825

)

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

6

225

Members' other interests

(156,586

)

(155,050

)

(156,361

)

(154,825

)

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 December 2024.

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 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 22 September 2025 and were signed by:

R A B Stewart - Designated member

1.	STATUTORY INFORMATION

US3 Partnership 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of fifteen years.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future and at least the next 12 months from the signing of the financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEE INFORMATION

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

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

4,237

AMORTISATION

At 1 January 2024

4,201

Charge for year

36

At 31 December 2024

4,237

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

36

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade creditors

-

1,440

Amounts owed to group undertakings

153,421

151,981

Other creditors

2,940

1,440

156,361

154,861

6.

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.

7.	RELATED PARTY DISCLOSURES

Ricanto Limited is a related party in which R. Stewart is a director and shareholder. At the start of the year, the partnership owed Ricanto Limited £151,981, it paid expenses of £1,440 on behalf of the partnership and the amount owed to Ricanto at the year end was £153,421.