Disruptive Capital Finance LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC358623 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2018 TO 31 MARCH 2019

FOR

DISRUPTIVE CAPITAL FINANCE LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DESIGNATED MEMBERS:

Curzon Park Capital Ltd

L Jopp

B P Proffitt

L Webster

I Edward

Melaganic Investments SA

Disruptive Capital Limited

The Truell Conservation Foundation

REGISTERED OFFICE:

Vestry House

Laurence Pountney Hill

London

EC4R 0EH

REGISTERED NUMBER:

OC358623 (England and Wales)

AUDITORS:

CBHC Limited

Suite 3, The Hamilton Centre

Rodney Way

Chelmsford

Essex

CM1 3BY

FIXED ASSETS

Tangible assets

4

30,833

51,620

Investments

5

96,417

-

127,250

51,620

CURRENT ASSETS

Debtors

6

2,499,588

1,846,399

Cash at bank and in hand

17,089

488,653

2,516,677

2,335,052

CREDITORS

Amounts falling due within one year

7

946,701

773,984

NET CURRENT ASSETS

1,569,976

1,561,068

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,697,226

1,612,688

LOANS AND OTHER DEBTS DUE TO MEMBERS

1,672,226

1,587,688

MEMBERS' OTHER INTERESTS

Capital accounts

25,000

25,000

1,697,226

1,612,688

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

1,672,226

1,587,688

Members' other interests

25,000

25,000

Amounts due from members

6

(244,946

)

(212,487

)

1,452,280

1,400,201

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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP on 23 December 2019 and were signed by:

Curzon Park Capital Ltd - Designated member

1.	STATUTORY INFORMATION

Disruptive Capital Finance LLP is registered in England and Wales. The LLP's registered number and

registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

The LLP's auditors, CBHC Limited, have reported on the financial statements for the year ended 31

December 2017. Their report was unqualified. It contained the following emphasis of matter

paragraph:

"In forming our opinion on the financial statements, which is not modified, we have considered the

adequacy of the disclosure made in note 1 to the financial statements concerning the LLP's ability

to continue as a going concern.

Management fees of £1,240,372 due from Sustainable Technology Partnership LP remain

outstanding at the date of signing these accounts. The LLP expects this amount to be settled within

the next year and has sufficient inflows and cash resources to continue trading. In the event that

cash resources are utilised before the amount is settled, it may be necessary for the members to

inject additional capital in order for the LLP to continue to trade and meet its regulatory capital

requirements.

The members do not believe that any additional capital injection to the business will be necessary,

however these conditions indicate the existence of a material uncertainty which may cast doubt

about the LLP's ability to continue as a going concern. The financial statements do not include the

adjustments that would result if the LLP was unable to continue as a going concern."

The Senior Statutory Auditor was Peter Sartain.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's

pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The designated members have assessed the likelihood of receiving the investment management

fees already invoiced. Based on their assessment of these factors and the financial requirements

for the foreseeable future, the going concern assumption is considered appropriate.

3.	EMPLOYEE INFORMATION

The average number of employees during the period was 12 (2017 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

359,928

Additions

14,041

At 31 March 2019

373,969

DEPRECIATION

At 1 January 2018

308,308

Charge for period

34,828

At 31 March 2019

343,136

NET BOOK VALUE

At 31 March 2019

30,833

At 31 December 2017

51,620

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

Additions

1

96,416

96,417

At 31 March 2019

1

96,416

96,417

NET BOOK VALUE

At 31 March 2019

1

96,416

96,417

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2017

£

£

Trade debtors

81,115

1,271,239

Other debtors

2,418,473

575,160

2,499,588

1,846,399

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2017

£

£

Trade creditors

38,357

43,397

Taxation and social security

26,177

27,915

Other creditors

882,167

702,672

946,701

773,984

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Peter Sartain FCCA (Senior Statutory Auditor)

for and on behalf of CBHC Limited

9.	RELATED PARTY DISCLOSURES

The following amounts are due from / to related parties:

2017

2016

Income

Debtor / (creditor)

Income

Debtor / (creditor)

£

£

£

£

Disruptive Capital Advisory Limited

345,000

(52,500

)

-

-

Disruptive Capital Investments Limited

50,000

-

50,000

(758,401

)

Disruptive Capital Limited

-

7,987

-

3,156

STV GP Limited

-

35,096

-

17,318

These entities are under common control or are associated entities due to E Truell having

significant control over them.

Management fees of £255,503 (2016: £341,998) were received from Sustainable Technology

Partnership LP, also an entity under common control, during the year and as at 31 December 2017

£1,240,372 (2016: £984,869) was outstanding.

10.	ULTIMATE CONTROLLING PARTY

The LLP was under control of the designated members throughout the year.

As owner of Curzon Park Capital Limited, the ultimate controlling party of the LLP is the Truell

Conservation Foundation.