ACCOUNTS - Final Accounts

VENREX 2014 CARRIED INTEREST LLP - Company Information

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Registered number: OC392274

VENREX 2014 CARRIED INTEREST LLP

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

VENREX 2014 CARRIED INTEREST LLP

INFORMATION

Designated Members

M. L. V. Esiri

T. Fleming

LLP registered number

OC392274

Registered office

First Floor Office, St James House, 13 Kensington Square, London, W8 5HD

VENREX 2014 CARRIED INTEREST LLP

CONTENTS

	Page
Members' report	1 - 2
Accountants' report	3
Profit and loss account	4
Balance sheet	5 - 6
Reconciliation of members' interests	7

VENREX 2014 CARRIED INTEREST LLP

MEMBERS' REPORT

FOR THE YEAR ENDED 31 MARCH 2021

The members present their annual report together with the financial statements of Venrex 2014 Carried Interest LLP (the "LLP") for the year ended 31 March 2021.

Principal activities

The principal object of the LLP is to act as carried interest partner to the Venrex 2014 Fund.

Designated Members

M. L. V. Esiri and T. Fleming were designated members of the LLP throughout the year.

Members' capital and interests

Each member's subscription to the capital of the LLP is determined by their share of the profit and is repayable following retirement from the LLP.

Details of changes in members' capital in the ended 31 March 2021 are set out in the Reconciliation of members' interests.

Members are remunerated from the profits of the LLP and are required to make their own provision for pensions and other benefits. Profits are allocated and divided between members after finalisation of the financial statements. Members draw a proportion of their profit shares monthly during the year in which it is made, with the balance of profits being distributed after the year, subject to the cash requirements of the business.

Members' responsibilities statement

The members are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law, (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period.

In preparing these financial statements, the members are required to:

∙select suitable accounting policies and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business.

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and to enable them to ensure that the financial statements comply with the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of the Companies Act 2006) Regulations 2008). They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 1

VENREX 2014 CARRIED INTEREST LLP

MEMBERS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

This report was approved by the members on 14 May 2021 and signed on their behalf by:

M. L. V. Esiri

Page 2

VENREX 2014 CARRIED INTEREST LLP

CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF VENREX 2014 CARRIED INTEREST LLP
FOR THE YEAR ENDED 31 MARCH 2021

In order to assist you to fulfil your duties under the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), we have prepared for your approval the financial statements of Venrex 2014 Carried Interest LLP for the year ended 31 March 2021 which comprise the Profit and loss account and the Balance sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the members in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Venrex 2014 Carried Interest LLP and state those matters that we have agreed to state to the Venrex 2014 Carried Interest LLP's members in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Venrex 2014 Carried Interest LLP and its members for our work or for this report.

It is your duty to ensure that Venrex 2014 Carried Interest LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Venrex 2014 Carried Interest LLP. You consider that Venrex 2014 Carried Interest LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Venrex 2014 Carried Interest LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Calder & Co

Chartered Accountants

30 Orange Street

London

WC2H 7HF

14 May 2021

Page 3

VENREX 2014 CARRIED INTEREST LLP

PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2021

	2021	2020
Note	£	£

Turnover		9,848	-
Profit for the financial year before members' remuneration and profit shares		9,848	-

Profit for the financial year before members' remuneration and profit shares	9,848	-
Members' remuneration charged as an expense	(9,848)	-
Profit for the financial year available for discretionary division among members	-	-

The notes on page 7 form part of these financial statements.

Page 4

VENREX 2014 CARRIED INTEREST LLP

REGISTERED NUMBER: OC392274

BALANCE SHEET

AS AT 31 MARCH 2021

	2021	2020
Note	£	£


	-	-
Total assets less current liabilities	-	-
	-	-
Net assets attributable to members	-	-

Total members' interests		-	-

Notes

General information

Venrex 2014 Carried Interest LLP is a Limited Liability Partnership incorporated in England and Wales, registration number OC392274. The address of the registered office is First Floor Office, St James House, 13 Kensington Square, London, W8 5HD.

Average number of employees

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

These financial statements have been prepared in accordance with the provisions applicable to entities subject to the micro-entities' 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.

Page 5

VENREX 2014 CARRIED INTEREST LLP

REGISTERED NUMBER: OC392274

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2021

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 14 May 2021.

M. L. V. Esiri

Designated member

The notes on page 7 form part of these financial statements.

Venrex 2014 Carried Interest LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.

Page 6

VENREX 2014 CARRIED INTEREST LLP

RECONCILIATION OF MEMBERS' INTERESTS

FOR THE YEAR ENDED 31 MARCH 2021


	Debt Loans and other debts due to members less any amounts due from members in debtors

	£
Balance at 31 March 2020	-
Members' remuneration charged as an expense	9,848
Members' interests after profit for the year	9,848
Drawings	(9,848)
Balance at 31 March 2021	-

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 7