COMPANY REGISTRATION NUMBER:
SC352848
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Panoramic Growth Equity (General Partner 1) Limited |
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Filleted Unaudited Financial Statements |
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Panoramic Growth Equity (General Partner 1) Limited |
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Statement of Financial Position |
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31 March 2025
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Called up share capital not paid |
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30 |
30 |
|
|
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Fixed assets
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Investments |
5 |
|
580,368 |
290,970 |
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|
|
|
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Current assets
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Debtors |
6 |
205,639 |
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495,336 |
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|
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Creditors: amounts falling due within one year |
7 |
42,642 |
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39,560 |
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--------- |
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--------- |
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Net current assets |
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162,997 |
455,776 |
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--------- |
--------- |
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Total assets less current liabilities |
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743,395 |
746,776 |
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--------- |
--------- |
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Net assets |
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743,395 |
746,776 |
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--------- |
--------- |
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Capital and reserves
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Called up share capital |
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30 |
30 |
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Profit and loss account |
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743,365 |
746,746 |
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--------- |
--------- |
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Shareholders funds |
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743,395 |
746,776 |
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--------- |
--------- |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' 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, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
11 December 2025
, and are signed on behalf of the board by:
Company registration number:
SC352848
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Panoramic Growth Equity (General Partner 1) Limited |
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Notes to the Financial Statements |
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Year ended 31 March 2025
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Suite 7, The Garment Factory, 10 Montrose Street, Glasgow, G1 1RE.
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'.
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. Going concern The financial statements have been prepared on a going concern basis. The directors have assessed the Company's ability to continue as a going concern and have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting the financial statements.
Investments
Investments are valued at cost less provision for permanent diminution in value.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial assets, which include other debtors and cash at bank balances, 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 receipts discounted at the market rate of interest for a similar debt instrument. Basic financial liabilities, which include other creditors, 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 the market rate of interest for a similar debt instrument. At each reporting date the company assess whether there is objective evidence that any financial asset has been impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due. The amount of the provision is recognised immediately in profit or loss.
4.
Average number of employees
During the year the average number of employees was nil (2024: nil).
5.
Investments
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Other investments other than loans |
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£ |
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Cost |
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At 1 April 2024 |
290,970 |
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Additions |
289,398 |
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--------- |
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At 31 March 2025 |
580,368 |
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--------- |
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Impairment |
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At 1 April 2024 and 31 March 2025 |
– |
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--------- |
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Carrying amount |
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At 31 March 2025 |
580,368 |
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--------- |
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At 31 March 2024 |
290,970 |
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--------- |
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6.
Debtors
|
Other debtors |
205,639 |
495,336 |
|
--------- |
--------- |
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7.
Creditors:
amounts falling due within one year
|
Other creditors |
42,642 |
39,560 |
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-------- |
-------- |
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8.
Related party transactions
The total amount payable to Panoramic Growth Equity (Fund Management) LLP at the year end was £36,182 (2024: £33,570). Panoramic Growth Equity (Fund Management) LLP has funds of £199,236 (2024: £482,585) under its management that are due to Panoramic Growth Equity (General Partner 1) Ltd and these are shown in other debtors in the accounts. The company was due £5,381 (2024: £11,730) from PGE (Founder Partner) LLP at the year end, a partnership in which the company and the three directors are also members. Interest of 5% is receivable on funds loaned to PGE (Founder Partner) LLP and during the year this amounted to interest of £374 (2024: £464). The company was also due £1,020 (2024: £1,020) from Panoramic Growth Equity (Carried Interest) LLP, a partnership in which the three directors are also members. The company was also due £1,825 (2024: £1,825) to PGE II (SC) Limited, a company in which the three directors are also directors and shareholders.