ACCOUNTS - Final Accounts

G.P. PRIVATE EQUITY LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-312022-05-24true22021-01-01falseNo description of principal activity2falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04680828 2021-01-01 2021-12-31 04680828 2020-01-01 2020-12-31 04680828 2021-12-31 04680828 2020-12-31 04680828 2020-01-01 04680828 c:Director1 2021-01-01 2021-12-31 04680828 d:CurrentFinancialInstruments 2021-12-31 04680828 d:CurrentFinancialInstruments 2020-12-31 04680828 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 04680828 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 04680828 d:ShareCapital 2021-12-31 04680828 d:ShareCapital 2020-12-31 04680828 d:ShareCapital 2020-01-01 04680828 d:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 04680828 d:RetainedEarningsAccumulatedLosses 2021-12-31 04680828 d:RetainedEarningsAccumulatedLosses 2020-01-01 2020-12-31 04680828 d:RetainedEarningsAccumulatedLosses 2020-12-31 04680828 d:RetainedEarningsAccumulatedLosses 2020-01-01 04680828 c:FRS102 2021-01-01 2021-12-31 04680828 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 04680828 c:FullAccounts 2021-01-01 2021-12-31 04680828 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 04680828

G.P. PRIVATE EQUITY LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021


G.P. PRIVATE EQUITY LIMITED REGISTERED NUMBER:04680828

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2021

		2021		2020
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	33,000		49,000
Cash at bank and in hand	5	57,058		39,756
		90,058		88,756
Creditors: amounts falling due within one year	6	(32,439)		(40,920)
Net current assets			57,619		47,836
Total assets less current liabilities			57,619		47,836

Net assets			57,619		47,836

Capital and reserves
Called up share capital	1,000	1,000
Profit and loss account	56,619	46,836
	57,619	47,836

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

G.R. Power

Director

Date: 24 May 2022

The notes on pages 3 to 5 form part of these financial statements.

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G.P. PRIVATE EQUITY LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2021

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2020	1,000	633	1,633
Comprehensive income for the year
Profit for the year	-	46,203	46,203

At 1 January 2021	1,000	46,836	47,836
Comprehensive income for the year
Profit for the year	-	105,027	105,027
Dividends: Equity capital	-	(95,244)	(95,244)
At 31 December 2021	1,000	56,619	57,619

The notes on pages 3 to 5 form part of these financial statements.

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G.P. PRIVATE EQUITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1.	General information

G P Private Equity Limited is a private company, limited by shares, registered in England and Wales, registration number 04680828. The registered office is Hyde Park House, 5 Manfred Road, United Kingdom, SW15 2RS.
The functional currency of the company is GBP Sterling (£).
The principal activity of the company is corporate advice to overseas private equity businesses.

2.Accounting policies

2.1

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.4

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

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G.P. PRIVATE EQUITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.5

Creditors

Short term creditors are measured at the transaction price.

2.6

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.7

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).

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G.P. PRIVATE EQUITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Debtors

					2021	2020
					£	£


Trade debtors	30,000	-
Other debtors	3,000	49,000

5.	Cash and cash equivalents
		2021	2020
		£	£

	Cash at bank and in hand	57,058	39,756

6.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Corporation tax	24,634	9,323
Other taxation and social security	-	844
Other creditors	3,265	2,421
Accruals and deferred income	4,540	28,332
	32,439	40,920

7.	Related party transactions
	Included within other creditors is £3,265 (2020: £2,421) due to Earth Capital UK Limited (ECUK), Mr Power is a Director of ECUK. The loan is provided interest free.

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