Limited Liability Partnership registration number OC356211 (England and Wales)
PANGEA INVESTORS LLP
Annual report and unaudited financial statements
For the year ended 5 April 2026
Pages for filing with registrar
PANGEA INVESTORS LLP
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
PANGEA INVESTORS LLP
STATEMENT OF FINANCIAL POSITION
As at 5 April 2026
- 1 -
2026
2025
Notes
£
£
£
£
Current assets
Trade and other receivables
-
(1)
Cash and cash equivalents
41,804
6,334
41,804
6,333
Current liabilities
4
(2,670)
(2,670)
Net current assets
39,134
3,663
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
38,075
2,605
Members' other interests
Members' capital classified as equity
3,653
3,652
Other reserves classified as equity
(2,594)
(2,594)
39,134
3,663
Total members' interests
Loans and other debts due to members
38,075
2,605
Members' other interests
1,059
1,058
39,134
3,663

T he members of the limited liability partnership have elected not to include a copy of the income statement within the financial statements.

For the financial year ended 5 April 2026 the limited liability partnership 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 limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act as applied to limited liability partnerships with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

PANGEA INVESTORS LLP
STATEMENT OF FINANCIAL POSITION (CONTINUED)
As at 5 April 2026
- 2 -
The financial statements were approved by the members and authorised for issue on 17 July 2026 and are signed on their behalf by:
17 July 2026
Mr J Hueffer
Designated member
Limited Liability Partnership Registration No. OC356211
PANGEA INVESTORS LLP
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 5 April 2026
- 3 -
1
Accounting policies
Limited liability partnership information

Pangea Investors LLP is a limited liability partnership incorporated in England and Wales. The registered office is Connect House, 133-137 Alexandra Road, London, SW19 7JY.

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in May 2024, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Revenue

The turnover and profit before taxation is attributable to the one principal activity of the limited liability partnership.

If, at the statement of financial position date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the statement of financial position date are carried forward as work in progress.

1.3
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the m embers' 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. M ember s' participation rights, including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

Profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment and the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense and presented as members remuneration charged as an expense in arriving at the result for the relevant year. To the extent that they remain unpaid at the period end, they are shown as liabilities.

Whilst the members’ agreement does not differentiate between profits and losses for profit sharing purposes, it does stipulate that the LLP cannot demand additional contributions from members, and as a result the LLP does not have an unconditional right to demand payment from members for losses. Therefore, to the extent that losses exceed the balance on capital and current accounts, they are not recognised as a recoverable asset and so remain within equity until such time as [ profits are generated to set them against ] [ or detail other conditions as appropriate ].

PANGEA INVESTORS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 5 April 2026
1
Accounting policies
(Continued)
- 4 -

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.

The members’ participation rights that are classified as liabilities are repayable upon demand or at short notice (eg upon termination of membership), and as such whilst they are financing transactions, the effect of discounting is considered immaterial and so they are not discounted to present value.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments 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 limited liability partnership after deducting all of its liabilities.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6

Members' remueration

A member's share in the profit or loss for the year is accounted for as an allocation of profits.

PANGEA INVESTORS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 5 April 2026
1
Accounting policies
(Continued)
- 5 -
1.7

Taxation

Income tax payable on the LLP's profits is solely the personal tax liability of the individual members and consequently is not dealt with in these financial statements.

2
Judgements and key sources of estimation uncertainty

In the application of the limited liability partnership’s accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average number of persons (excluding members) employed by the partnership during the year was 0 (2025 - 0).

2026
2025
Number
Number
Total
0
0
4
Current liabilities
2026
2025
£
£
Other payables
2,670
2,670
5
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

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