H20 Venture Partners (Manager) LLP Filleted accounts for Companies House (small and micro)

REGISTERED NUMBER: OC354840

H20 Venture Partners (Manager) LLP

Filleted Unaudited Financial Statements

31 March 2025

H20 Venture Partners (Manager) LLP

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Investments	5		74,745	74,745

Current assets

Stocks		–	9,836
Debtors	6	29,987	30,163
Cash at bank and in hand		2,911	1,998
		--------	--------
		32,898	41,997

Creditors: amounts falling due within one year	7	57,645		59,494
		--------		--------
Net current liabilities			24,747	17,497
			--------	--------
Total assets less current liabilities			49,998	57,248
			--------	--------
Net assets			49,998	57,248
			--------	--------

Represented by:

Loans and other debts due to members

Members' capital classified as a liability	8	200	200
Other amounts	8	49,798	57,048
		--------	--------
		49,998	57,248
		--------	--------

Members' other interests

Other reserves	–	–
	--------	--------
	49,998	57,248
	--------	--------

Total members' interests

Loans and other debts due to members	8	49,998	57,248
Members' other interests		–	–
		--------	--------
		49,998	57,248
		--------	--------

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 .

H20 Venture Partners (Manager) LLP

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the members and authorised for issue on 2 December 2025 , and are signed on their behalf by:

D W Kelly

Designated Member

Registered number: OC354840

H20 Venture Partners (Manager) LLP

Notes to the Financial Statements

Year ended 31 March 2025

1.	General information

The LLP is registered in England and Wales. The address of the registered office is Sanders Gate, Churchfields, Stonesfield, OX29 8PP, United Kingdom.

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 2018 (SORP 2018).

3.	Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

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 is discretionary on the part of the LLP.

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 income statement 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'.

Where there exists an asset and liability component in respect of an individual member's participation rights, they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts, and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented net.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as 'Loans and other debts due to members' to the extent they exceed debts due from a specific member.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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:

	Plant and machinery	-	33% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the LLP becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4.	Tangible assets

	Plant and machinery	Total
	£	£
Cost
At 1 April 2024 and 31 March 2025	3,309	3,309
	-------	-------
Depreciation
At 1 April 2024 and 31 March 2025	3,309	3,309
	-------	-------
Carrying amount
At 31 March 2025	–	–
	-------	-------
At 31 March 2024	–	–
	-------	-------

5.	Investments

	Shares in group undertakings
	£
Cost
At 1 April 2024 and 31 March 2025	74,745
	--------
Impairment
At 1 April 2024 and 31 March 2025	–
	--------

Carrying amount
At 31 March 2025	74,745
	--------
At 31 March 2024	74,745
	--------

6.	Debtors

	2025	2024
	£	£
Other debtors	29,987	30,163
	--------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	26,577	26,577
Other creditors	31,068	32,917
	--------	--------
	57,645	59,494
	--------	--------

8.	Loans and other debts due to members

	2025	2024
	£	£
Amounts owed to members in respect of profits	49,798	57,048
Other amounts	200	200
	--------	--------
	49,998	57,248
	--------	--------