ACCOUNTS - Final Accounts preparation

Registered number: OC390988

CLEARBELL CAPITAL CIP LLP

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

CLEARBELL CAPITAL CIP LLP

REGISTERED NUMBER: OC390988

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Investments	5		671		526
			671		526
Current assets
Debtors: amounts falling due within one year	6	2		2
		2		2
Creditors: Amounts Falling Due Within One Year	7	(671)		(526)
Net current liabilities			(669)		(524)
Total assets less current liabilities			2		2

Net assets			2		2

Represented by:
Loans and other debts due to members within one year
Members' other interests
Members' capital classified as equity	2		2
		2		2
		2		2

Total members' interests
Members' other interests	2	2
	2	2

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity 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.

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.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

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CLEARBELL CAPITAL CIP LLP

REGISTERED NUMBER: OC390988

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 17 December 2025.

___________________________

Clearbell Capital LLP

Designated member

The notes on pages 4 to 6 form part of these financial statements.

Clearbell Capital CIP LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

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CLEARBELL CAPITAL CIP LLP

RECONCILIATION OF MEMBERS' INTERESTS

FOR THE YEAR ENDED 31 MARCH 2025


	EQUITY Members' other interests
	Members' capital (classified as equity)	Total
	£	£
Members' interests after profit for the year	2	2
Amounts due to members
Amounts due from members
Balance at 31 March 2024	2	2
Members' interests after profit for the year	2	2
Amounts due to members
Amounts due from members
Balance at 31 March 2025	2	2

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.

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CLEARBELL CAPITAL CIP LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

The LLP is registered in England and Wales.

The address of the registered office is 2 Harewood Place, London, W1S 1BX

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 Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 (the 2008 Regulations).

3.Accounting policies

3.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liabilities Partnerships'. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

3.2

Profit allocation

The LLP is entitled to receive 10% of the amounts distributed pari passu with the distributions to two of the Limited Partners in Amberside LP after the Limited Partners have received a 9% IRR on their contributions.

The LLP entitled to receive 10% of the amounts distributed pari passu with the distributions to two of the Limited Partners in Kings Keeley LP after the Limited Partners have received an 8% IRR on their contributions.

The LLP is entitled to receive 10% of distributions from Clearbell UK Strategic Trust over a hurdle of 10% and 20% over a 12% hurdle subject to an aggregate maximum distribution of 15%.

The LLP is also entitled to a £2,000 priority profit allocation of Clearbell Strategic Coinvestment LP. All income and capital gains are to be distributed to all the Limited Partners based on their holding of the Limited Partnership.

At 31 March 2025, the LLP received £2,000 in distributions from Clearbell Strategic Coinvestment LP (2023: £2,000).

3.3

Investments

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

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CLEARBELL CAPITAL CIP LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

3.Accounting policies (continued)

3.4

Members participation rights

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 income and retained earnings 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 income and retained earnings 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 income and retained earnings 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'.

Employees

	The entity has no employees.
	The average monthly number of employees, including directors, during the year was 0 (2024 - 0).

5.	Fixed asset investments

		Investments in associates
		£
	Cost or valuation
	At 1 April 2024	526
	Additions	145
	At 31 March 2025	671

The above represents an investment in All Stars LP, Amberside LP, Kings Keeley LP and Clearbell UK Strategic Trust.

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CLEARBELL CAPITAL CIP LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£


Other debtors	2	2
	2	2

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Amounts owed to group undertakings	671	526
	671	526

8.	Related party transactions
	Under the provisions of Financial Reporting Standard 102 Section 1A, the LLP is exempt from disclosing related party transactions with other group companies as 100% of the voting rights are controlled within the group and ultimate parent, Clearbell Capital LLP ("CCLLP"), is incorporated in the United Kingdom and publishes consolidated accounts that are available from Companies House.

9.	Controlling party

The ultimate and immediate parent undertaking is Clearbell Capital LLP ("CCLLP") which is incorporated in the United Kingdom and registered in England and Wales.

The largest and smallest group of undertakings of which the LLP is a member and for which group accounts are drawn up is CCLLP. Copies of the CCLLP financial statements are available from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ.

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