Registered number
OC420612
Hamilton Portfolio 1 LLP
Filleted Accounts
31 January 2024
Hamilton Portfolio 1 LLP
Registered number: OC420612
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 653,329 653,329
Current assets
Debtors 4 16,579 11,210
Cash at bank and in hand 72 100
16,651 11,310
Creditors: amounts falling due within one year 5 (8,307) (7,855)
Net current assets 8,344 3,455
Total assets less current liabilities 661,673 656,784
Net assets attributable to members 661,673 656,784
Represented by:
Loans and other debts due to members 6 (982) (5,243)
Members' other interests
Members' capital classified as equity 710,619 709,991
Other reserves (47,964) (47,964)
662,655 662,027
661,673 656,784
Total members' interests
Loans and other debts due to members 6 (982) (5,243)
Members' other interests 662,655 662,027
661,673 656,784
For the year ended 31 January 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 16 April 2024 and signed on their behalf by:
Miah Mohammed
Designated member
Hamilton Portfolio 1 LLP
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings Nil
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP - -
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 February 2023 653,329
At 31 January 2024 653,329
Depreciation
At 31 January 2024 -
Net book value
At 31 January 2024 653,329
At 31 January 2023 653,329
4 Debtors 2024 2023
£ £
Trade debtors 5,245 -
Other debtors 11,334 11,210
16,579 11,210
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 8,307 7,418
Other creditors - 437
8,307 7,855
6 Loans and other debts due to members 2024 2023
£ £
Amounts due to members in respect of profits (982) (5,243)
Amounts falling due within one year (982) (5,243)
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
7 Other information
Hamilton Portfolio 1 LLP is a limited liability partnership incorporated in England. Its registered office is:
Twelve Quays House
Egerton Wharf
Wirral
CH41 1LD
Hamilton Portfolio 1 LLP OC420612 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts October 2023 release 2 Miah Mohammed No description of principal activity OC420612 2022-02-01 2023-01-31 OC420612 core:WithinOneYear 2023-01-31 OC420612 1 2023-01-31 OC420612 core:ShareCapital 2023-01-31 OC420612 core:RetainedEarningsAccumulatedLosses 2023-01-31 OC420612 2023-02-01 2024-01-31 OC420612 bus:LimitedLiabilityPartnershipLLP 2023-02-01 2024-01-31 OC420612 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 OC420612 bus:PartnerLLP20 2023-02-01 2024-01-31 OC420612 3 2023-02-01 2024-01-31 OC420612 1 2023-02-01 2024-01-31 OC420612 2 2023-02-01 2024-01-31 OC420612 4 2023-02-01 2024-01-31 OC420612 countries:England 2023-02-01 2024-01-31 OC420612 bus:FRS102 2023-02-01 2024-01-31 OC420612 bus:FullAccounts 2023-02-01 2024-01-31 OC420612 2024-01-31 OC420612 core:WithinOneYear 2024-01-31 OC420612 1 2024-01-31 OC420612 core:ShareCapital 2024-01-31 OC420612 core:RetainedEarningsAccumulatedLosses 2024-01-31 OC420612 core:LandBuildings 2024-01-31 OC420612 2023-01-31 OC420612 core:LandBuildings 2023-01-31 iso4217:GBP xbrli:pure