|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 MARCH 2021 |
|
FOR |
|
AFRICA PLATFORM CAPITAL LLP |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 MARCH 2021 |
|
FOR |
|
AFRICA PLATFORM CAPITAL LLP |
AFRICA PLATFORM CAPITAL LLP (REGISTERED NUMBER: OC408134) |
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2021 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Balance Sheet | 1 |
|
Notes to the Financial Statements | 3 |
|
AFRICA PLATFORM CAPITAL LLP (REGISTERED NUMBER: OC408134) |
|
BALANCE SHEET |
31 MARCH 2021 |
|
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Debtors | 5 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO
MEMBERS |
875,787 |
775,787 |
|
LOANS AND OTHER DEBTS DUE TO
MEMBERS |
7 |
- |
- |
|
MEMBERS' OTHER INTERESTS |
Capital accounts | 875,787 | 775,787 |
875,787 | 775,787 |
|
TOTAL MEMBERS' INTERESTS |
Members' other interests | 875,787 | 775,787 |
Amounts due from members | 5 | (768,860 | ) | (704,851 | ) |
106,927 | 70,936 |
|
|
|
The members acknowledge their responsibilities for: |
(a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements 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 financial statements, so far as applicable to the LLP. |
AFRICA PLATFORM CAPITAL LLP (REGISTERED NUMBER: OC408134) |
|
BALANCE SHEET - continued |
31 MARCH 2021 |
|
|
|
|
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 and authorised for issue on
|
|
|
|
|
|
|
AFRICA PLATFORM CAPITAL LLP (REGISTERED NUMBER: OC408134) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2021 |
|
|
1. | STATUTORY INFORMATION |
|
Africa Platform Capital LLP is registered in England and Wales. The LLP's registered number and registered office address are as below: |
|
Registered number: |
|
|
Registered office: |
|
|
|
|
|
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
After considering the limited liability partnership's future prospects, and ongoing support from the members, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. The LLP therefore continues to adopt the going concern basis in preparing its financial statements. |
|
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 |
|
Computer equipment | - |
|
|
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. |
|
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. |
AFRICA PLATFORM CAPITAL LLP (REGISTERED NUMBER: OC408134) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2021 |
|
|
2. | ACCOUNTING POLICIES - continued |
|
Members' drawings and the subscription and repayment of members' capital |
In accordance with the LLP agreement, each Member shall have a Capital Account, which shall reflect the capital contributed by such Member to the LLP. Repayments of capital shall be debited to such Capital Account. |
|
Each Member shall also have an income account. |
|
The income of the LLP shall first be applied to pay the expenses, costs and/or liabilities of the LLP. After payments of any of the above amounts, and after setting aside such amounts as the Members by Resolution may deem necessary as a reserve against any future or contingent expenses or liabilities, the remaining income of the LLP shall be distributed as determined by the Members by Resolution. Allocated profit is included within 'loans and other debts due to members' on the Balance Sheet. Allocated and unallocated losses are included within 'amounts due from members'. |
|
The Members are not entitled to make drawings under the current LLP Agreement. |
|
The capital requirements of the LLP are determined by the Members and are reviewed regularly. No interest is paid on capital. |
|
On leaving the partnership, a Member's capital is repaid within a timescale set by the Members. |
|
Taxation |
Tax to be paid on the profits arising in the LLP are a personal tax liability of the members of the LLP and therefore are not included as a tax charge or provision within these financial statements. |
|
Deferred tax is recognised in respect of all material timing differences at the reporting date, except as otherwise indicated. |
|
Deferred tax assets are only recognised to the extent that it is probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
|
If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed. |
|
Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. |
|
The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income). |
|
Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. Deferred tax assets and deferred tax liabilities are offset only if: |
|
- the LLP has a legally enforceable right to set off current tax assets against current tax liabilities, and |
- the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously. |
|
3. | EMPLOYEE INFORMATION |
|
The average number of employees during the year was
|
AFRICA PLATFORM CAPITAL LLP (REGISTERED NUMBER: OC408134) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2021 |
|
|
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2020 |
and 31 March 2021 |
|
DEPRECIATION |
At 1 April 2020 |
|
Charge for year |
|
At 31 March 2021 |
|
NET BOOK VALUE |
At 31 March 2021 |
|
At 31 March 2020 |
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
The amounts due from members represent the losses for the year including start up costs. These amounts have been fully funded by the members capital contribution of £875,787 (2020: £775,787). |
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
|
2020 | 2019 |
£ | £ |
Amounts due to members | - | - |
|
Loans and other debts due to members are unsecured and would rank pari passu with other unsecured creditors in the event of a winding up. |
|
8. | ULTIMATE CONTROLLING PARTY |
|
The controlling party is S N Rowlands. |