Silverfin false false 31/03/2025 01/04/2024 31/03/2025 C Blackbourn 30/10/2017 A Gelley 30/10/2017 E Mosafi 30/10/2017 29 August 2025 The principal activity of the LLP during the financial year was that of making and holding investments in debt instruments and corporate bonds. OC419686 2025-03-31 OC419686 bus:Director1 2025-03-31 OC419686 bus:Director2 2025-03-31 OC419686 bus:Director3 2025-03-31 OC419686 core:CurrentFinancialInstruments 2025-03-31 OC419686 core:CurrentFinancialInstruments 2024-03-31 OC419686 2024-03-31 OC419686 2024-04-01 2025-03-31 OC419686 bus:FilletedAccounts 2024-04-01 2025-03-31 OC419686 bus:SmallEntities 2024-04-01 2025-03-31 OC419686 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 OC419686 bus:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC419686 bus:Director1 2024-04-01 2025-03-31 OC419686 bus:Director2 2024-04-01 2025-03-31 OC419686 bus:Director3 2024-04-01 2025-03-31 OC419686 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: OC419686 (England and Wales)

# GQSF LLP

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

GQSF LLP

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

GQSF LLP

## STATEMENT OF FINANCIAL POSITION

As at 31 March 2025
GQSF LLP

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Current assets |  |  |  |
Debtors | 4 | 1,449,455 |  | 1,037,123
Cash at bank and in hand |  | 119 |  | 1,919
|  | 1,449,574 |  | 1,039,042
Creditors: amounts falling due within one year | 5 | ( 2,748) |  | ( 2,100)
Net current assets |  | 1,446,826 |  | 1,036,942
Total assets less current liabilities |  | 1,446,826 |  | 1,036,942
Net assets attributable to members |  | 1,446,826 |  | 1,036,942
Represented by |  |  |  |
Loans and other debts due to members within one year |  |  |  |
Other amounts |  | 1,446,826 |  | 1,036,942
|  | 1,446,826 |  | 1,036,942
Members' other interests |  |  |  |
|  | 0 |  | 0
|  | 1,446,826 |  | 1,036,942
Total members' interests |  |  |  |
Loans and other debts due to members |  | 1,446,826 |  | 1,036,942
|  | 1,446,826 |  | 1,036,942

For the financial year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

- The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of GQSF LLP (registered number: OC419686) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

E Mosafi Designated member |

29 August 2025

GQSF LLP

## RECONCILIATION OF MEMBERS' INTERESTS

For the financial year ended 31 March 2025
GQSF LLP

## RECONCILIATION OF MEMBERS' INTERESTS (continued)

For the financial year ended 31 March 2025

| DEBT Loans and other debts due to members less any amounts due from members in debtors | Total members' interests
--- | --- | ---
| Other amounts | Total
| £ | £
Amounts due to members | 674,626 |
Balance at 01 April 2023 | 674,626 | 674,626
Members' remuneration charged as an expense, including employment and retirement benefit costs | 1,202,316 | 1,202,316
Members' interest after result for the financial year | 1,876,942 | 1,876,942
Drawings | (840,000) | (840,000)
Amounts due to members | 1,036,942 |
Balance at 31 March 2024 | 1,036,942 | 1,036,942
Members' remuneration charged as an expense, including employment and retirement benefit costs | 409,884 | 409,884
Members' interest after result for the financial year | 1,446,826 | 1,446,826
Amounts due to members | 1,446,826 |
Balance at 31 March 2025 | 1,446,826 | 1,446,826

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

GQSF LLP

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
GQSF LLP

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

GQSF LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is 41-44 Great Queen Street, London, WC2B 5AD, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the LLP and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is 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.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the LLP during the year | 0 |  | 0

#### 3. Members' remuneration

Profits are shared among the members in accordance with agreed profit sharing arrangements. Members are required to make their own provision for pensions from their profit shares.

| 2025 |  | 2024
| Number |  | Number
Average number of members during the financial year | 3 |  | 3

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Accrued income | 1,449,453 |  | 1,037,121
Other debtors | 2 |  | 2
| 1,449,455 |  | 1,037,123

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Accruals | 2,100 |  | 2,100
Other creditors | 648 |  | 0
| 2,748 |  | 2,100