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Registered number: OC447317
CARBON13 I GP LLP
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024
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CARBON13 I GP LLP
REGISTERED NUMBER: OC447317
BALANCE SHEET
AS AT 31 DECEMBER 2024
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Creditors: Amounts Falling Due Within One Year
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Other reserves classified as equity
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Loans and other debts due to members
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CARBON13 I GP LLP
REGISTERED NUMBER: OC447317
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.
The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.
The financial statements were approved and authorised for issue by the members and were signed on their behalf by:
NJ Dee on behalf of
Carbon13 Group Limited
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The notes on pages 4 to 6 form part of these financial statements.
Carbon13 I GP LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.
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CARBON13 I GP LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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EQUITY
Members' other interests
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DEBT
Loans and other debts due to members less any amounts due from members in debtors
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Loss for the year available for discretionary division among members
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MEMBERS' INTERESTS AFTER PROFIT FOR THE YEAR
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Amounts introduced by members
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BALANCE AT 31 DECEMBER 2023
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Loss for the year available for discretionary division among members
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MEMBERS' INTERESTS AFTER PROFIT FOR THE YEAR
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Amounts introduced by members
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BALANCE AT 31 DECEMBER 2024
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The notes on pages 4 to 6 form part of these financial statements.
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There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.
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CARBON13 I GP LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Carbon13 I GP LLP (the "LLP") is incorporated in England and Wales. Its registered office is Salisbury House, Station Road, Cambridge, CB1 2LA. The principal activity of the LLP was to provide an investment vehicle for the Carbon13 Group.
The LLP's functional and presentational currency is GBP.
2.ACCOUNTING POLICIES
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BASIS OF PREPARATION OF FINANCIAL STATEMENTS
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the LLP's accounting policies (see note 4).
The following principal accounting policies have been applied:
In light of the net liabilities position on the Balance Sheet at the year end, the Members have assessed the appropriateness of the going concern basis of accounting in preparing these financial statements. Given the LLP has full support of the Carbon13 Group, the Members have assessed it appropriate to prepare these financial statements on the going concern basis.
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DIVISION AND DISTRIBUTION OF PROFITS
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A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.
An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.
The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .
Profits of the LLP which are not yet divided among the members are shown under 'Other reserves' on the Balance Sheet, pending a discretionary decision to divide the profits.
In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.
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CARBON13 I GP LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.ACCOUNTING POLICIES (CONTINUED)
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IMPAIRMENT OF FIXED ASSETS AND GOODWILL
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Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.
Investments in unlisted shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The entity has no employees.
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JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY
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The preparation of the financial statements requires management to make significant judgements, estimates and assumptions that affect the application of accounting policies and reported amounts of assets, liabilities, income and expenses. Actual results may be different from these estimates.
Information about assumptions and estimation uncertainties that have significant risk of resulting in material adjustment within the next financial year are included below. Critical judgements that management has made in the process of applying accounting policies disclosed herein and that have a significant effect on the amounts recognised in the financial statements relate to the following:
Valuation of fixed asset investments
The valuation of fixed asset investments is assessed by management at each period end as all investments are reviewed for impairment. In making this assessment, management has taken into consideration the performance of the investment and the other funding that it has raised.
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CARBON13 I GP LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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CREDITORS: Amounts falling due within one year
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During the year, the Members identified that certain amounts paid on the LLP's behalf by Members were treated in the LLP's accounting records as being paid by group undertakings. The comparatives in the Balance Sheet have been restated for this error, with the effect as follows:
Amounts owed to group undertakings as at 31 December 2023 have decreased by £1,847,891; and
Members' Interests amounts introduced in the year to 31 December 2023 have increased by £1,847,891.
There was no impact on the Statement of Comprehensive Income for the year ended 31 December 2023 and nor was there any impact on opening reserves as at 16 May 2023.
The immediate parent undertaking is Carbon13 Capital Limited, a private company registered in England and Wales. The ultimate parent undertaking is Carbon13 Group Limited, a private company registered in England and Wales. Carbon13 Group Limited is controlled by NJ Dee.
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 29 September 2025 by James Burrett (Senior Statutory Auditor) on behalf of PEM Audit Limited.
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