Total Capital Partners LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC337648 (England and Wales)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

Total Capital Partners LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DESIGNATED MEMBERS:

N J Eastham

E Magnusson

M P Brown

M Buttler

REGISTERED OFFICE:

33 Cavendish Square

London

W1G 0PW

REGISTERED NUMBER:

OC337648 (England and Wales)

AUDITORS:

Cansdales Chartered Accountant & Statutory Auditor

Bourbon Court

Nightingales Corner

Little Chalfont

Buckinghamshire

HP7 9QS

FIXED ASSETS

Tangible assets

4

1,517

1,256

Investments

5

1

1

1,518

1,257

CURRENT ASSETS

Debtors

6

15,798

99,230

Cash at bank

492,217

113,349

508,015

212,579

CREDITORS

Amounts falling due within one year

7

37,405

86,331

NET CURRENT ASSETS

470,610

126,248

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

472,128

127,505

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

422,128

77,505

MEMBERS' OTHER INTERESTS

Capital accounts

50,000

50,000

472,128

127,505

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

422,128

77,505

Members' other interests

50,000

50,000

472,128

127,505

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs.

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 19 July 2018 and were signed by:

N J Eastham - Designated member

1.	STATUTORY INFORMATION

Total Capital Partners 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 financial statements are prepared under the historical cost convention, in accordance with

applicable accounting standards in the United Kingdom and with the requirements of the Companies

Act 2006. The financial statements have also been prepared in accordance with the Statement of

Recommended Practice (SORP) for Limited Liability Partnerships issued by the Institute of Chartered

Accountants in England and Wales.

These financial statements are presented in Sterling, which is the functional currency of the LLP, and

rounded to the nearest £1.

Preparation of consolidated financial statements

The financial statements contain information about Total Capital Partners LLP as an individual LLP

and do not contain consolidated financial information as the parent of a group. The LLP has taken the

option under Section 398 of the Companies Act 2006 as applied to LLPs by the Limited Liability

Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 not to

prepare consolidated financial statements.

The group includes a subsidiary that is the General Partner of private equity limited partnerships.

The nature of these limited partnerships is such that, although the General Partner frequently has a

de minimis of less than 1% economic interest in the limited partnership, they are under the control of

the General Partner. Therefore they are technically subsidiaries of the group.

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

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling

at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

Financial instruments

The group's principal financial instruments comprise bank balances, trade creditors and trade

debtors. The main purpose of these instruments is to finance the group's operations.

Due to the nature of the financial instruments used by the group there is no exposure to price risk.

The group's approach to managing other risks applicable to the financial instruments concerned is

shown below.

In respect of bank balances the liquidity risk is managed by prudent monitoring of cash requirements

and cash forecasting.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit

offered to customers and the regular monitoring of amounts outstanding for both time and credit

limits.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts

due.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

4,863

Additions

1,453

Disposals

(2,909

)

At 31 March 2018

3,407

DEPRECIATION

At 1 April 2017

3,607

Charge for year

1,185

Eliminated on disposal

(2,902

)

At 31 March 2018

1,890

NET BOOK VALUE

At 31 March 2018

1,517

At 31 March 2017

1,256

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2017

and 31 March 2018

1

NET BOOK VALUE

At 31 March 2018

1

At 31 March 2017

1

The LLP's investments at the Balance Sheet date in the share capital of companies include the

following:

TCP General Partner Limited

Registered office: Guernsey

Nature of business: Investment Management

%

Class of shares:

holding

Ordinary

100.00

31.3.18

31.3.17

£

£

Aggregate capital and reserves

288,668

104,258

Profit/(loss) for the year

184,409

(34,391

)

The company acquired one Ordinary share in TCP General Partner Limited (formerly TCP Manhattan

GP Limited), a Guernsey registered company incorporated on 7th October 2013. The amount paid for

the share was £1.

TOTAL CAPITAL PARTNERS MANHATTAN INVESTMENT LP

A Guernsey limited partnership whose principal place of business is at Heritage Hall, Le Marchant

Street, St Peter Port, Guernsey, GY1 4HY. A subsidiary undertaking of TCP General Partner Limited

(formerly TCP Manhattan GP Limited).

TCP MANHATTAN FOUNDER PARTNER LP

A Guernsey limited partnership whose principal place of business is at Heritage Hall, Le Marchant

Street, St Peter Port, Guernsey, GY1 4HY. A subsidiary undertaking of TCP General Partner Limited

(formerly TCP Manhattan GP Limited).

TOTAL CAPITAL PARTNERS DORY INVESTMENT LP

A Guernsey limited partnership whose principal place of business is a Heritage Hall, Le Marchant

Street, St Peter Port, Guernsey, GY1 4HY. A subsidiary undertaking of TCP General Partners

Limited.

TCP DORY FOUNDER LP

A Guernsey limited partnership whose principal place of business is a Heritage Hall, Le Marchant

Street, St Peter Port, Guernsey, GY1 4HY. A subsidiary undertaking of TCP General Partners

Limited.

TOTAL CAPITAL PARTNERS CALIFORNIA INVESTMENT LP

A Guernsey limited partnership whose principal place of business is a Heritage Hall, Le Marchant

Street, St Peter Port, Guernsey, GY1 4HY. A subsidiary undertaking of TCP General Partners

Limited.

TCP CALIFORNIA FOUNDER LP

A Guernsey limited partnership whose principal place of business is a Heritage Hall, Le Marchant

Street, St Peter Port, Guernsey, GY1 4HY. A subsidiary undertaking of TCP General Partners

Limited.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

7,075

-

Other debtors

8,723

99,230

15,798

99,230

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade creditors

3,611

45,671

Other creditors

33,794

40,660

37,405

86,331

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

No restrictions apply with regard to the ability of the members to reduce the amount of members or

other interests.

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

The Report of the Auditors was unqualified.

Nicholas Evans FCA (Senior Statutory Auditor)

for and on behalf of Cansdales Chartered Accountant & Statutory Auditor

10.	RELATED PARTY DISCLOSURES

The LLP is controlled by the members.

The LLP has a related party relationship with it's subsidiary, TCP General Partner Limited. During the

year, the LLP earned revenues of £800,574 (2017: £149,000) from the subsidiary which owed the

LLP £0 (2017: £95,000) at 31 March 2018.

The key management are N Eastham, E Magnusson, P Brown and M Buttler.