REGISTERED NUMBER: OC347082 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

UNITED FIRST PARTNERS LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

M Hadjedj

United First Partners UK Limited

United First Management Limited

REGISTERED OFFICE:

4th Floor

100 Cannon Street

London

EC4N 6EU

REGISTERED NUMBER:

OC347082 (England and Wales)

ACCOUNTANTS:

Platt Rushton LLP

Sutherland House

1759 London Road

Leigh on Sea

Essex

SS9 2RZ

FIXED ASSETS

Investments

4

155,350

155,350

CURRENT ASSETS

Debtors

5

-

10,243,968

Cash at bank

92

237,574

92

10,481,542

CREDITORS

Amounts falling due within one year

6

64,074

9,506,211

NET CURRENT (LIABILITIES)/ASSETS

(63,982

)

975,331

TOTAL ASSETS LESS CURRENT LIABILITIES

91,368

1,130,681

CREDITORS

Amounts falling due after more than one year

7

-

1,120,681

NET ASSETS ATTRIBUTABLE TO MEMBERS

91,368

10,000

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

91,367

-

MEMBERS' OTHER INTERESTS

Capital accounts

1

10,000

91,368

10,000

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

91,367

-

Members' other interests

1

10,000

Amounts due from members

5

-

(6,906,294

)

91,368

(6,896,294

)

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 31st 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 15th September 2025 and were signed by:

United First Management Limited - Designated member

1.	STATUTORY INFORMATION

United First Partners LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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.

Significant judgements and estimates

In the application of the LLP's accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

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

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financing liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective rate of interest.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment due within one year or less. If not they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method

Foreign currencies

Transactions passing through the Profit & Loss Account are converted to Sterling at the spot rate on the last day of the relevant month. Transactions on the Balance Sheet are converted into Sterling at the spot rate at the end of the month.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - 6 ).

4.	FIXED ASSET INVESTMENTS

Fixed asset investments are held in a variety of start-up companies. The fair value of these investments cannot be measured reliably and so fixed asset investments are measured at cost less impairment.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

-

60,031

Amounts owed by group undertakings

-

3,000,001

Other debtors

-

7,183,936

-

10,243,968

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

-

63,261

Amounts owed to group undertakings

64,074

9,142,830

Taxation and social security

-

945

Other creditors

-

299,175

64,074

9,506,211

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

-

1,120,681

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up, loans and other debts due to members rank behind preferential and other debts.

No restrictions or limitations exist on the ability of the members to reduce the amount of Members other interests.

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.