ACCOUNTS - Final Accounts

VESPA CAPITAL III GP COINVEST LLP - Company Information

Registered number: OC430701

Vespa Capital III GP Coinvest LLP

Report And Financial Statements

INFORMATION FOR FILING WITH THE REGISTRAR

31 March 2021


Vespa Capital III GP Coinvest LLP Registered number:OC430701

BALANCE SHEET

as at 31 March 2021

		2021
Note		£

Fixed assets
Investments	4		20,181
			20,181
Current assets
Cash at bank and in hand		94
		94
Total assets less current liabilities			20,275

Net assets attributable to members			20,275

Represented by:
Loans and other debts due to members within one year
Members' other interests
Members' capital classified as equity	20,281
Other reserves classified as equity	(6)
		20,275
		20,275

Total members' interests
Members' other interests			20,275
			20,275

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Vespa Capital III GP Coinvest LLP Registered number:OC430701

BALANCE SHEET (CONTINUED)

as at 31 March 2021

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.

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 12 November 2021.

M H Lester

Designated member

The notes on pages 3 to 4 form part of these financial statements.

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Vespa Capital III GP Coinvest LLP

NOTES TO THE FINANCIAL STATEMENTS

for the period ended 31 March 2021

1.	General information

Vespa Capital III GP Coinvest LLP is a limited liability partnership registered in the United Kingdom.
The registered address of the LLP is North Cottage, Langton Road, Langton Green, Tunbridge Wells, Kent, United Kingdom, TN3 0BB.
The principal activity of the LLP is to act as a co-investment vehicle.

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 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" published in December 2018.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies.

2.2

Going concern

The financial statements have been prepared on a going concern basis as the members believe the partnership has sufficient resources to meet its liabilities as and when they fall due.

2.3

Foreign currency translation

Functional and presentation currency

The LLP'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.

2.4

Valuation of investments

Investments held as fixed assets are shown at fair value.

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Vespa Capital III GP Coinvest LLP

NOTES TO THE FINANCIAL STATEMENTS

for the period ended 31 March 2021

2.Accounting policies (continued)

2.5

Financial instruments

The LLP does not trade in financial instruments and all such instruments arise directly from operations. All trade and other debtors are initially recognised at transaction value, as none contain in substance a financing transaction. Thereafter trade and other debtors are reviewed for impairment where there is objective evidence based on observable data that the balance may be impaired. The LLP does not hold collateral against its trade and other receivables so its exposure to credit risk is the net balance of trade and other debtors after allowance for impairment. The LLP's cash holdings comprise on demand balances. All cash is held with banks with strong external credit ratings. Trade and other creditors and accruals are initially recognise at transaction value as none represent a financing transaction. They are only derecognised when they are extinguished. As the LLP only has short term receivables and payables, its net current asset position is a reasonable measure of its liquidity at any given time.

2.6

Members' remuneration and profit allocation

A members' non-discretionary profit allocation is accounted for as remuneration charged as an expense in the statement of comprehensive income after arriving at "profit for the year before members' remuneration and profit shares".
A members' discretionary share in the profit or loss for the period is accounted for as an allocation of profits.

Employees

	The LLP has no employees.

4.	Fixed asset investments

		Unlisted investments
		£
	Valuation
	Additions	20,181
	At 31 March 2021	20,181

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