Registration number:
ADG Prefcap Second GP LLP
for the Year Ended 31 March 2025
ADG Prefcap Second GP LLP
Contents
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Limited liability partnership information |
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Members' Report |
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Accountants' Report |
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Financial Statements |
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Profit and Loss Account |
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Balance Sheet |
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Notes to the Financial Statements |
ADG Prefcap Second GP LLP
Limited liability partnership information
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Designated members |
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Registered office |
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Accountants |
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ADG Prefcap Second GP LLP
Members' Report for the Year Ended 31 March 2025
The members present their report and the unaudited financial statements for the year ended 31 March 2025.
Review of the business and future developments
The LLP acts as a general partner to the ADG Prefcap I private fund limited partnership ('the Fund'). It is not remunerated for this and has not incurred any costs to date, its administrative costs being borne without recourse by a designated member. Accordingly the LLP generates neither profit nor loss and does not have any assets or liabilities. Additionally, the LLP does not have a bank account, and does not have any employees. Accordingly, the designated members do not believe an analysis of the LLP's activities by reference to its financial key performance indicators is necessary for an understanding to its business.
Given the above, the LLP is not exposed to significant risks or uncertainties.
Designated members
The members who held office during the year were as follows:
Members' drawings and the subscription and repayment of members' capital
To date the LLP has not called any capital from members. To date the LLP has been dormant, meaning no profit allocations have arisen. To date there have been no drawings by members.
Approved by the
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Chartered Accountants' Report to the Members on the Preparation of the Unaudited Statutory Accounts of ADG Prefcap Second GP LLP
for the Year Ended 31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006, as applied to limited liability partnerships, we have prepared for your approval the accounts of ADG Prefcap Second GP LLP for the year ended 31 March 2025 set out on pages 4 to 6 from the limited liability partnership's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the members of ADG Prefcap Second GP LLP, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of ADG Prefcap Second GP LLP and state those matters that we have agreed to state to the members of ADG Prefcap Second GP LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ADG Prefcap Second GP LLP and its members as a body for our work or for this report.
It is your duty to ensure that ADG Prefcap Second GP LLP has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and results of ADG Prefcap Second GP LLP. You consider that ADG Prefcap Second GP LLP is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of ADG Prefcap Second GP LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Chartered Accountants
London
EC4M 7JU
ADG Prefcap Second GP LLP
Profit and Loss Account for the Year Ended 31 March 2025
The LLP has been dormant since incorporation. It therefore reports neither profit nor loss for the year ended 31 March 2025 and period ended 31 March 2024.
ADG Prefcap Second GP LLP
(Registration number: OC434260)
Balance Sheet as at 31 March 2025
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2025 |
2024 |
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Current assets |
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Cash and short-term deposits |
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Net assets/(liabilities) attributable to members |
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Represented by: |
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Members’ other interests |
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Members' capital classified as equity |
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Other reserves |
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- |
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The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.
The financial statements of ADG Prefcap Second GP LLP (registered number OC434260) were approved by the
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ADG Prefcap Second GP LLP
Notes to the Financial Statements for the Year Ended 31 March 2025
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Accounting policies |
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
General information and basis of accounting
The limited liability partnership is incorporated in England under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency of ADG Prefcap Second GP LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates.
Taxation
The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements.
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Particulars of employees |
The LLP has
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Control |
The LLP is jointly controlled by its designated members: ADG Prefcap LLP, a limited liability partnership incorporated in the United Kingdom and registered in England; ADG Prefcap GP Limited, a private limited company incorporated in the United Kingdom and registered in England; and ADG Corporate Limited, a private limited company incorporated in the United Kingdom and registered in England.
The ultimate parent undertaking is ADG Corporate Limited, which heads the largest and smallest group for which consolidated accounts including the company's position and results are prepared. Copies of those consolidated financial statements are available from Companies House, Crown Way, Cardiff, CF14 3UZ.