Earlsfield Capital Partners First LLP

Registered number

OC438132

Filleted Accounts

31 March 2025

Earlsfield Capital Partners First LLP
Registered number:		OC438132
Balance Sheet
as at 31 March 2025
Notes		2025		2024
£			£
Fixed assets
Investments	3	1,539,432		1,696,064
Current assets
Cash at bank and in hand		23,214		38,280

Creditors: amounts falling due within one year	4	(22)		(3,292)

Net current assets		23,192		34,988

Total assets less current liabilities		1,562,624		1,731,052



Net assets attributable to members		1,562,624		1,731,052

Represented by:

Members' other interests
Members' capital classified as equity		1,771,019		1,771,019
Revaluation reserve		49,963		93,497
Other reserves		(258,358)		(133,464)
		1,562,624		1,731,052

		1,562,624		1,731,052

Total members' interests
Members' other interests		1,562,624		1,731,052

		1,562,624		1,731,052

For the year ended 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.

These accounts were approved by the members on 20 September 2025 and signed on their behalf by:




Mitesh Gupta
Designated member

Earlsfield Capital Partners First LLP
Notes to the Accounts
for the year ended 31 March 2025

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.

	Division of profits
	Each Member shall be allocated a proportion of the Net Profits or Losses (as the case may be) set out in the Annual Accounts on the basis that the Net Profits or Losses (as the case may be) are allocated as closely as possible to reflect the Members’ entitlements to distributions of Proceeds in accordance with Clause 10 of the LLP Agreement. The relevant Net Profits or Losses (as the case may be) shall be debited or credited (as the case may be) to each Capital Member’s Current Account in accordance with Clause 10 of the LLP Agreement.

	Taxation
	Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Members' capital
	Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.




	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.


2	Employees	2025		2024
Number			Number

	Average number of persons employed by the LLP	0		0

3	Fixed asset investments
Other
investments
£
	Fair value
	At 1 April 2024			1,696,064
	Revaluation			(38,297)
	Disposals			(118,335)

	At 31 March 2025			1,539,432

	Historical cost
	At 1 April 2024			1,696,064
	At 31 March 2025			1,539,432

	Investment transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period these transactions are translated at the closing rate of exchange. Exchange differences arising have been recognised in profit or loss.

4	Creditors: amounts falling due within one year	2025		2024
£			£

	Trade creditors	6		3,276
	Other creditors	16		16
		22		3,292




5	Revaluation reserve	2025		2024
£			£

	At 1 April 2024	93,497		138,367
	Other movements	(43,534)		(44,870)

	At 31 March 2025	49,963		93,497


6	Other information

	Earlsfield Capital Partners First LLP is a limited liability partnership incorporated in England. Its registered office is:
	Garden House
	Rookery Road, Downe,
	Orpington
	BR6 7JQ