Veloce Cap Fund 1 LP
10/08/2024 | Press release | Distributed by Public on 10/08/2024 14:11
Special Semiannual Financial Report under Regulation A Form 1 SA
VELOCE CAP FUND 1, LP
AUDITED FINANCIAL STATEMENTS
PERIOD ENDED JUNE 30, 2024
F-1
VELOCE CAP FUND 1, LP
TABLE OF CONTENTS
PERIOD ENDED JUNE 30, 2024
| Page | |
| Financial Statements: | |
| Balance Sheet | F-3 |
| Statements of Operations | F-4 |
| Statements of Changes in Members' Equity | F-5 |
| Statements of Cash Flows | F-6 |
F-2
| VELOCE CAP FUND 1, LP |
| BALANCE SHEET |
| JUNE 30, 2024 |
| ASSETS | ||||||||
| CURRENT ASSETS | ||||||||
| Cash and cash equivalents | $ | 159,410 | ||||||
| Accounts receivable | 53,182 | |||||||
| Organization costs, net | 15,000 | |||||||
| Trust deed notes receivable | 2,025,000 | |||||||
| TOTAL ASSETS | $ | 2,252,592 | ||||||
| LIABILITIES AND MEMBERS' DEFICIT | ||||||||
| CURRENT LIABILITIES | ||||||||
| Management fees payable | $ | 13,058 | ||||||
| Admin fees payable | 9,750 | |||||||
| Audit fees payable | 18,000 | |||||||
| Organization costs payable | 25,000 | |||||||
| TOTAL CURRENT LIABILITIES | $ | 65,808 | ||||||
| MEMBERS' EQUITY - PER ACCOMPANYING STATEMENT | 2,186,784 | |||||||
| TOTAL LIABILITIES AND MEMBERS' EQUITY | $ | 2,252,592 |
F-3
| VELOCE CAP FUND 1, LP |
| STATEMENT OF INCOME AND EXPENSE |
| JUNE 30, 2024 |
| REVENUE | ||||||||
| Interest Income | $ | 264,717 | ||||||
| TOTAL REVENUE | 264,717 | |||||||
| OPERATING EXPENSES | ||||||||
| Operating expenses | $ | 40,594 | ||||||
| TOTAL OPERATING EXPENSES | 40,594 | |||||||
| NET INCOME | $ | 224,123 |
F-4
| VELOCE CAP FUND 1, LP |
| STATEMENT OF CHANGES IN PARTNERS' EQUITY |
| JUNE 30, 2024 |
| PARTNERS' | ||||
| EQUITY | ||||
| DECEMBER 31, 2023 | $ | 1,537,661 | ||
| Net income | 224,123 | |||
| Partner Contributions | 425,000 | |||
| June 30, 2024 | $ | 2,186,784 |
F-5
| VELOCE CAP FUND 1, LP |
| STATEMENT OF CASH FLOWS |
| JUNE 30, 2024 |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||
| Net income | $ | 224,123 | ||
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||||
| Amortization of organization costs | 2,500 | |||
| Increase in accounts receivable | (49,750 | ) | ||
| Increase in management fee payable | (8,564 | ) | ||
| Increase in incentive fee payable | (43,167 | ) | ||
| Increase in other payables | 10,500 | |||
| NET CASH PROVIDED BY OPERATIONS | 135,642 | |||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||
| Trust deed notes received | 1,575,000 | |||
| Trust deed notes receivable - funded | (2,025,000 | ) | ||
| NET CASH USED IN INVESTING | (450,000 | ) | ||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||
| Capital contributions | 425,000 | |||
| NET CASH PROVIDED BY FINANCING | 425,000 | |||
| NET INCREASE IN CASH AND CASH EQUIVALENTS | 110,642 | |||
| CASH AND CASH EQUIVALENTS - DECEMBER 31, 2023 | 48,768 | |||
| CASH AND CASH EQUIVALENTS - JUNE 30. 2024 | 159,410 |
F-6