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Registration number: OC437834

Riverhive Properties LLP

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Riverhive Properties LLP

Contents

Limited liability partnership information

1

Financial Statements

2 to 6

Balance Sheet

2

Statement of Changes in Members’ Interests

3

Notes to the Financial Statements

4

 

Riverhive Properties LLP

Limited liability partnership information

Designated members

KH V Properties 123 Limited

Riverhive Limited
 

Members

Swale Capital Management Ltd

Registered office

10 Wrens Court
48 Victoria Road
Birmingham
B72 1SY

Accountants

PLW Advisors Limited
Regus Building
Central Boulevard
Blythe Valley Park
Solihull
B90 8AG

 

Riverhive Properties LLP

(Registration number: OC437834)
Balance Sheet as at 31 December 2023

Note

2023
 £

2022
 £

Fixed assets

 

Investments

3

100

100

Creditors: Amounts falling due within one year

4

(100)

(100)

Net assets/(liabilities) attributable to members

 

-

-

Represented by:

 

Total members' interests

 

-

-

For the year ending 31 December 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. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

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 Riverhive Properties LLP (registered number OC437834) were approved by the Board and authorised for issue on 31 July 2024. They were signed on behalf of the limited liability partnership by:

.........................................
N P Mellor as authorised officer of
Riverhive Limited
Designated member

 

Riverhive Properties LLP

Statement of Changes in Members’ Interests
At 31 December 2023

   

Total
2023
 £

Members' interest at 1 January 2023

-

Profit/(loss) for the financial year available for discretionary division among members

-

At 31 December 2023

-

   

Total
2022
 £

Members' interest at 1 January 2022

-

Profit/(loss) for the financial year available for discretionary division among members

-

At 31 December 2022

-

 

Riverhive Properties LLP

Notes to the Financial Statements for the Year Ended 31 December 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 England 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 Riverhive Properties 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

With continued support extended by its related parties, the company’s directors have a reasonable expectation that the company will be able to continue in operational existence for the foreseeable future and therefore consider that it remains appropriate to prepare the financial statements on the going concern basis.

Judgements

Preparation of the financial statements requires management to make significant judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the change takes place if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the LLP in exchange for control of the acquired, plus any costs directly attributable to the business combination.

 

Riverhive Properties LLP

Notes to the Financial Statements for the Year Ended 31 December 2023

Fixed asset investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

2

Particulars of employees

The average number of persons employed under contracts of employment by the limited liability partnership during the year was 0 (2022 - 0).

3

Investments held as fixed assets

2023
£

2022
£

Shares in group undertakings and participating interests

100

100

Shares in group undertakings and participating interests

Subsidiary undertakings
£

Total
£

Cost

At 1 January 2023

100

100

At 31 December 2023

100

100

Net book value

At 31 December 2023

100

100

At 31 December 2022

100

100

 

Riverhive Properties LLP

Notes to the Financial Statements for the Year Ended 31 December 2023

Details of undertakings

Details of the investments in which the limited liability partnership holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Holding

Proportion of voting rights and shares held

Principal activity

Subsidiary undertakings

Riverstone Developments (Hive) Limited

Ordinary £1 shares

100%

property development

All subsidiaries are incororated in England.

Subsidiaries

The profit for the financial period of Riverstone Developments (Hive) Limited was £60,154 and the aggregate amount of capital and reserves at the end of the period was £955,668.

4

Creditors: Amounts falling due within one year

Note

2023
 £

2022
 £

Amounts owed to group undertakings and undertakings in which the limited liability partnership has a participating interest

5

100

100

5

Related party transactions

Loans from related parties

Unsecured, interst-free loan, repayable on demand
 

2023

Subsidiary
£

At start of period

100

2022

Subsidiary
£

At start of period

100

6

Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.