Abbreviated Company Accounts - ALPINA PARTNERS LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
Statement of compliance

Alpina Partners Limited was incorporated in England on 21 November 2008. The address of its registered office is 51 Holland Street London W8 7JB.

The Company’s financial statements have been prepared in compliance with FRS 102 Section 1A and the Companies Act 2006 as it applies to the financial statements of the Company for the year ended 31 March 2016. In adopting FRS 102, the Director has determined that it qualifies as a small entity and has applied section 1A of FRS 102 (“FRS 102 1A”). The company as a result has applied the exemptions from certain disclosures as permitted by FRS 102 1A.

Basis of accounting

These accounts have been prepared under the historical cost convention and on a going concern basis.

Statement of cash flows

The Company has taken advantage of the exemption in section 1.12 of FRS 102 1A from the requirement to prepare a statement of cash flows.

Turnover policy
Turnover, which excludes value added tax and is stated net of any rebates, represents the investment advisory fee (payable by Alpina Partners to the Company under the Investment Advisory Agreement between Alpina Partners Limited and the Company dated 28 May 2008 LLP) and is recognised on an accruals basis.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Assets are recognised at the point at which the risks and rewards of ownership of the asset are deemed to have passed to the Company. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:

Office equipment 33.3% straight line
Fixtures, fittings and equipment 25% straight line

Other accounting policies
Expenses

Expenses are recognised on an accruals basis.

Taxation

The current tax expense or credit is based on the taxable profits or losses for the year, after any adjustments in respect of prior years. Tax, including tax relief for losses if applicable, is allocated over profits or losses before taxation and amounts charged or credited to reserves as appropriate.

Provision is made for deferred tax liabilities, or credit taken for deferred tax assets, using the liability method, on all material temporary differences between the tax bases of assets and liabilities and their carrying amounts in the financial statements.

Deferred tax assets are recognised to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Foreign currencies

Transactions denominated in foreign currencies are translated into sterling at the rate of exchange as of the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate ruling as of the balance sheet date. Foreign currency exchange rate gains or losses arising from the above treatment have been included in the profit or loss for the year.

3Fixed assets Investments
The Company has a 100% subsidiary, WHEB Partners (DeCo) GmbH, which is the general partner of three German limited partnerships; WHEB Ventures 2 (DeGP) GmbH & Co. KG, WHEB Partners 3 (DeGP) GmbH & Co. KG (both are general partners of the general partner limited partners of the Funds) and WHEB Partners Private Equity Fund 3 feeder, a feeder fund to Alpina Partners Fund LP.