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Registered number: OC451046
SILVER POINT EUROPE, LLP
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 31 DECEMBER 2024
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SILVER POINT EUROPE, LLP
CONTENTS
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Reconciliation of Members' Interests
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Notes to the Financial Statements
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SILVER POINT EUROPE, LLP
REGISTERED NUMBER: OC451046
BALANCE SHEET
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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SILVER POINT EUROPE, LLP
REGISTERED NUMBER: OC451046
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
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Loans and other debts due to members within one year
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Members' capital classified as equity
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Loans and other debts due to members
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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:
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Silver Point Capital Europe, Ltd
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The notes on pages 4 to 9 form part of these financial statements.
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SILVER POINT EUROPE, LLP
RECONCILIATION OF MEMBERS' INTERESTS
FOR THE PERIOD 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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Members' capital (classified as equity)
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Profit for the period available for discretionary division among members
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Members' interests after profit for the period
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Other division of profits
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Amounts introduced by members
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Amounts borrowed from members
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Balance at 31 December 2024
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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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SILVER POINT EUROPE, LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Silver Point Europe, LLP (the "LLP") is a limited liability partnership, registered in England and Wales. The address of the LLP's registered office is Charles House, 5-11 Regent Street Saint James's, London, England, SW1Y 4LR.
The principal activity of the LLP was to act as a sub-advisor to its ultimate parent entity, Silver Point Capital, L.P., which is a SEC registered investment advisor based in the United States. The LLP has been authorised by the FCA as of 07 April 2025.
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.
At the time of approving the financial statements, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. Thus the members continue to adopt the going concern basis of accounting in preparing the financial statements.
In adopting the going concern basis for preparing the financial statements, the members have considered the support the company receives from its parent undertaking to meet its day to day working capital requirements. The members have received confirmation from the parent company that it will continue to provide the necessary financial support until at least 30 September 2026.
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Foreign currency translation
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Functional and presentation currency
The LLP's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss in administrative expenses.
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SILVER POINT EUROPE, LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Services shall be billed in accordance with a Tranfser Pricing Study ("TP Study") prepared by an independent third-party service provider. In the TP Study, several methods are reviewed, and ultimately the transactional net margin method was chosen as the most appropriate method.
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Operating leases: the LLP as lessee
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Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
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Division and distribution of profits
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Any profits are shared among the members in accordance with the terms of the partnership agreement.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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SILVER POINT EUROPE, LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially
measured at their transaction price (adjusted for transaction costs except in the initial measurement
of financial assets that are subsequently measured at fair value through profit and loss) and are
subsequently carried at their amortised cost using the effective interest method, less any provision
for impairment, unless the arrangement constitutes a financing transaction, where the transaction is
measured at the present value of the future receipts discounted at a market rate of interest.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for asset and liabilities at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimations means that actual outcomes could differ from those estimations. The following judgments (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements:
Depreciation, amortisation and residual values
The members have reviewed the asset lives and associated residual values of all fixed asset classes, and have concluded that asset lives and residual values are appropriate.
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The entity has no employees.
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SILVER POINT EUROPE, LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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Charge for the period on owned assets
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Due after more than one year
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Prepayments and accrued income
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SILVER POINT EUROPE, LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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Creditors: amounts falling due within one year
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Amounts owed to group undertakings
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Creditors: amounts falling due after more than one year
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Loans and other debts due to members
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Other amounts due to members
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Loans and other debts due to members may be further analysed as follows:
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Falling due within one year
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Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.
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SILVER POINT EUROPE, LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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Commitments under operating leases
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At 31 December 2024 the LLP had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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The LLP's immediate parent company is Silver Point Capital Europe, Ltd. The members regard Silver Point Capital, L.P., a partnership formed in the State of Delaware, United States, as the ultimate controlling entity. Silver Point Capital, L.P.'s registered address is Two Greenwich Plaza, Greenwich, CT 06830, United States.
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report on the financial statements for the period ended 31 December 2024 was unqualified.
The audit report was signed on 26 September 2025 by Darren Hill FCA (Senior Statutory Auditor) on behalf of Rayner Essex LLP.
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