1 false false false false false false false false false false false false false false false false false No description of principal activity 2024-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,344 750 3,094 221 939 1,160 1,934 2,123 xbrli:pure xbrli:shares iso4217:GBP OC440974 2024-04-01 2025-03-31 OC440974 2025-03-31 OC440974 2024-03-31 OC440974 2023-03-01 2024-03-31 OC440974 2024-03-31 OC440974 2023-02-28 OC440974 bus:Director3 2024-04-01 2025-03-31 OC440974 core:WithinOneYear 2025-03-31 OC440974 core:WithinOneYear 2024-03-31 OC440974 bus:SmallEntities 2024-04-01 2025-03-31 OC440974 bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 OC440974 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 OC440974 bus:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC440974 bus:FullAccounts 2024-04-01 2025-03-31 OC440974 core:ComputerEquipment 2024-04-01 2025-03-31 OC440974 core:ComputerEquipment 2024-03-31 OC440974 core:ComputerEquipment 2025-03-31
REGISTERED NUMBER: OC440974

Pact Venture Partners LLP

Filleted Unaudited Financial Statements

31 March 2025

Pact Venture Partners LLP

Statement of Financial Position

31 March 2025

| 2025 | 2024
Note | £ | £

Fixed assets

Tangible assets | 5 | 1,934 | 2,123

Current assets

Debtors | 6 | 171,693 | 28,387
Cash at bank and in hand | 19,450 | 31,431
| --------- | --------
| 191,143 | 59,818

Creditors: amounts falling due within one year | 7 | 106,241 | 386
| --------- | --------
Net current assets | 84,902 | 59,432
| -------- | --------
Total assets less current liabilities | 86,836 | 61,555
| -------- | --------
Net assets | 86,836 | 61,555
| -------- | --------

Represented by:
Loans and other debts due to members

Other amounts | 8 | 86,836 | 61,555
| -------- | --------

Members' other interests

Other reserves | – | –
| -------- | --------
| 86,836 | 61,555
| -------- | --------

Total members' interests

Loans and other debts due to members | 8 | 86,836 | 61,555
Members' other interests | – | –
| -------- | --------
| 86,836 | 61,555
| -------- | --------

These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.
For the 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) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .

Pact Venture Partners LLP

Statement of Financial Position (continued)

31 March 2025
These financial statements were approved by the members and authorised for issue on 21 November 2025 , and are signed on their behalf by:

Monik Pham
Designated Member

Registered number: OC440974

Pact Venture Partners LLP

Notes to the Financial Statements

Year ended 31 March 2025

1. | General information

The LLP is registered in England and Wales.

2. | Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP 2022).

3. | Accounting policies

Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The members have considered the basis of preparation of the financial statements and have concluded that it is appropriate to prepare these on the going concern basis. This assessment is due to the LLPs' results and projected earnings demonstrating sufficient funds and cash flows to to be able to manage its liabilities as they fall due for a period of not less than 12 months of the approval of the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax. Turnover reflects amounts due to the company for private equity fund management services. This includes amounts invoiced and amounts accrued, but not yet invoiced.
Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Computer Equipment | - | 33% straight line

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the LLP are assigned to those units.
Financial instruments
Financial assets Financial assets are recognised when the Company becomes a party to the contractual provisions of the financial instrument. The Company does not hold any third party financial assets. Loans and receivables Trade receivables and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are initially recognised at fair value and are subsequently measured using the effective interest method less provision for any impairment. Financial liabilities and equity instruments Financial liabilities and equity are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Other financial liabilities (including borrowing and trade and other payables) are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. | Employee numbers

The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 1 (2024: 1 ).

5. | Tangible assets

| Equipment
| £
Cost |
At 1 April 2024 | 2,344
Additions | 750
| -------
At 31 March 2025 | 3,094
| -------
Depreciation |
At 1 April 2024 | 221
Charge for the year | 939
| -------
At 31 March 2025 | 1,160
| -------
Carrying amount |
At 31 March 2025 | 1,934
| -------
At 31 March 2024 | 2,123
| -------

6. | Debtors

| 2025 | 2024
| £ | £
Trade debtors | 101,264 | –
Amounts owed by group undertakings and undertakings in which the LLP has a participating interest | 62,134 | 17,164
Other debtors | 8,295 | 11,223
| --------- | --------
| 171,693 | 28,387
| --------- | --------

7. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Social security and other taxes | 1,139 | 386
Other creditors | 105,102 | –
| --------- | ----
| 106,241 | 386
| --------- | ----

8. | Loans and other debts due to members

| 2025 | 2024
| £ | £
Amounts owed to members in respect of profits | 86,836 | 61,555
| -------- | --------

9. | Other financial commitments

As at the reporting date, the partnership had no financial or other commitments or contracts for capital expenditure in place.

10. | Related party transactions

During the period there were no transactions that took place with related parties requiring disclosure under FRS102 1A.

11. | Controlling party

The LLP is controlled by the members.