Vendian Investment Management LLP OC399710 false 2023-01-01 2023-06-30 2023-06-30 The principal activity of the company is to provide investment advisory services to Clearview Capital Limited and Clearview Financial Holdings Limited. The Members do not see any change in the nature of this activity going forward. The results for the year ended 31 December 2022 and the financial position at 31 December 2022 were considered satisfactory by the Members. Digita Accounts Production Advanced 6.30.9574.0 true false OC399710 2023-01-01 2023-06-30 OC399710 2023-06-30 OC399710 core:CurrentFinancialInstruments 2023-06-30 OC399710 core:WithinOneYear 2023-06-30 OC399710 bus:SmallEntities 2023-01-01 2023-06-30 OC399710 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-06-30 OC399710 bus:FullAccounts 2023-01-01 2023-06-30 OC399710 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-06-30 OC399710 bus:PartnerLLP2 2023-01-01 2023-06-30 OC399710 bus:LimitedLiabilityPartnershipLLP 2023-01-01 2023-06-30 OC399710 countries:AllCountries 2023-01-01 2023-06-30 OC399710 2022-01-01 2022-12-31 OC399710 2022-12-31 OC399710 core:CurrentFinancialInstruments 2022-12-31 OC399710 core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure

Registration number: OC399710

Vendian Investment Management LLP

Annual Report and Unaudited Financial Statements

for the period from 1 January 2023 to 30 June 2023

Pages for Filing with Registrar

 

Vendian Investment Management LLP

(Registration number: OC399710)
Balance Sheet as at 30 June 2023

Note

30 June 2023
 £

31 December 2022
 £

Current assets

 

Debtors

4

-

115,458

Creditors: Amounts falling due within one year

5

-

(17,327)

Net assets attributable to members

 

-

98,131

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

533,746

533,746

Other amounts

(533,746)

(435,615)

   

-

98,131

Total members' interests

 

Amounts due from members

 

-

(150)

Loans and other debts due to members

 

-

98,131

   

-

97,981

 

Vendian Investment Management LLP

(Registration number: OC399710)
Balance Sheet as at 30 June 2023 (continued)

For the year ending 30 June 2023 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships, and the option not to file the Profit and Loss Account has been taken.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of Vendian Investment Management LLP (registered number OC399710) were approved by the Board and authorised for issue on 30 October 2023. They were signed on behalf of the limited liability partnership by:

.........................................
Mr D Tomkin
Designated member

 

Vendian Investment Management LLP

Notes to the Financial Statements for the Period from 1 January 2023 to 30 June 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Vendian Investment Management LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Going concern

The members have decided to close the LLP. Final closing accounts have been prepared for the period ending 30 June 2023. Accordingly, these financial statements have not been prepared on a going concern basis.

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

 

Vendian Investment Management LLP

Notes to the Financial Statements for the Period from 1 January 2023 to 30 June 2023 (continued)

1

Accounting policies (continued)

Financial instruments

The LLP only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Trade debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Members' interests

Amounts due to members after more than one year comprise certain loans from members which are not repayable within twelve months of the balance sheet date.

 

Vendian Investment Management LLP

Notes to the Financial Statements for the Period from 1 January 2023 to 30 June 2023 (continued)

2

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amount reported for assets and liabilities at the balance sheet date and the amounts reported for revenues and expenses during the year. However the nature of estimation means that actual outcomes could differ from those estimates. In the Members' opinon there were no significant judgements or estimation uncertainties in the year.

3

Particulars of employees

The average number of persons employed by the limited liability partnership during the period was 0 (2022 - 0).

4

Debtors

30 June 2023
 £

31 December 2022
 £

Amounts due from members

-

150

Amounts owed by group undertakings

-

69,384

Other debtors

-

29,093

Prepayments and accrued income

-

16,831

-

115,458

5

Creditors: Amounts falling due within one year

30 June 2023
 £

31 December 2022
 £

Trade creditors

-

10,961

Accruals and deferred income

-

6,366

-

17,327

6

Control

The ultimate controlling party is Vadim Jivov. by virtue of his control in the ultimate parent undertaking The Clearview Segregated Trust, a trust incorporated in Jersey.