IRIS Accounts Production v24.2.0.383 OC349910 designated member 1.1.23 31.12.23 31.12.23 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC3499102022-12-31OC3499102023-12-31OC3499102023-01-012023-12-31OC3499102021-12-31OC3499102022-01-012022-12-31OC3499102022-12-31OC349910ns15:EnglandWales2023-01-012023-12-31OC349910ns14:USDollar2023-01-012023-12-31OC349910ns10:PartnerLLP12023-01-012023-12-31OC349910ns10:LimitedLiabilityPartnershipLLP2023-01-012023-12-31OC349910ns10:SmallEntities2023-01-012023-12-31OC349910ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-31OC349910ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-31OC349910ns10:LimitedLiabilityPartnershipsSORP2023-01-012023-12-31OC349910ns10:FullAccounts2023-01-012023-12-31OC349910ns10:PartnerLLP22023-01-012023-12-31OC349910ns10:RegisteredOffice2023-01-012023-12-31OC349910ns5:CurrentFinancialInstruments2023-12-31OC349910ns5:CurrentFinancialInstruments2022-12-31OC349910ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-31OC349910ns5:WithinOneYearns5:CurrentFinancialInstruments2022-12-31OC349910ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-12-31OC349910ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2022-12-31
REGISTERED NUMBER: OC349910 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

PV Sales LLP

PV Sales LLP (Registered number: OC349910)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PV Sales LLP

General Information
for the Year Ended 31 December 2023







DESIGNATED MEMBERS: Edmonton Vallarta SA
Mission Bay Directors Ltd.





REGISTERED OFFICE: Ground Floor, 123 Pall Mall
St James's
London
SW1Y 5EA





REGISTERED NUMBER: OC349910 (England and Wales)






PV Sales LLP (Registered number: OC349910)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes $ $
CURRENT ASSETS
Debtors 4 60,013,924 47,312,863
Cash at bank 542,636 170,905
60,556,560 47,483,768
CREDITORS
Amounts falling due within one year 5 47,220,715 31,499,336
NET CURRENT ASSETS 13,335,845 15,984,432
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

13,335,845

15,984,432

LOANS AND OTHER DEBTS DUE
TO MEMBERS

6

13,335,704

15,984,291

MEMBERS' OTHER INTERESTS
Members' capital classified as equity 141 141
13,335,845 15,984,432

TOTAL MEMBERS' INTERESTS
Loans and other debts due to
members

6

13,335,704

15,984,291
Members' other interests 141 141
13,335,845 15,984,432

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 December 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

PV Sales LLP (Registered number: OC349910)

Statement of Financial Position - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the members of the LLP and authorised for issue on 21 August 2024 and were signed by:





Mission Bay Directors Ltd. - Designated member

PV Sales LLP (Registered number: OC349910)

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

1. STATUTORY INFORMATION

PV Sales LLP is incorporated in England and Wales as a limited liability partnership under the Limited Liability Partnerships Act 2000. The LLP's registered number and registered office address can be found on the General information page.
The LLP's principal place of business is:
Av. Paseo de las Palmas 239, Lomas de Chapultepec V Secc,11000 Ciudad de México, Mexico.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

The LLP's functional and presentation currency is US dollars.

Going concern disclosure for accounting policies:
The LLP transferred its trade, to a related entity on 1st August 2019 and has ceased trading. As required by UK accounting standards, the members have prepared the financial statements on the basis that the company is no longer a going concern. No material adjustments arose as a result of ceasing to apply the going concern basis.

Significant judgements and estimates
In the preparation of the financial statements, management has made no judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year.

PV Sales LLP (Registered number: OC349910)

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

2. ACCOUNTING POLICIES - continued

Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the Statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the Statement of financial position.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the Statement of comprehensive income and are equity appropriations in the Statement of financial position.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the Statement of financial position within 'Loans and other debts due to members' and are charged to the Statement of comprehensive income within 'Members' remuneration charged as an expense'.
Amounts due to members that are classified as equity are shown in the Statement of financial position within 'Members' other interests'.

Taxation
Taxation on all LLP's profits is solely the personal liability of individual members and is not dealt with in these financial statements.

PV Sales LLP (Registered number: OC349910)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and financial liabilities are recognised in the LLP's statement of financial position when the LLP becomes a party to the contractual provisions of the instrument.

Financial assets and financial liabilities are initially measured at transaction price. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the transaction price of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in profit or loss.

Trade and other receivables are initially measured at transaction price and are subsequently measured at amortised cost, using the effective interest rate method.
For the purpose of the statement of cash flows, cash and cash equivalents comprise cash at bank.

Trade and other payables are initially measured at transaction price and are subsequently measured at amortised cost, using the effective interest rate method.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2022 - NIL).

4. DEBTORS
31.12.23 31.12.22
$ $
Amounts falling due within one year:
Other debtors - 622,136

Amounts falling due after more than one year:
Other debtors 60,013,924 46,690,727

Aggregate amounts 60,013,924 47,312,863

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
$ $
Trade creditors 6,991 1,372
Other creditors 47,213,724 31,497,964
47,220,715 31,499,336

6. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of winding up, loans and other debts due to members rank behind creditors.

PV Sales LLP (Registered number: OC349910)

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

7. CONTINGENT LIABILITIES

The LLP has guaranteed a bank loan given to PVD INVESTMENT, S. DE R. L. DE C. V. which is a related party as disclosed in note 14. At the 31st December 2023 the maximum liability under this loan is $Nil (2022: $66,827,863). The members do not consider any liability will arise.

8. RELATED PARTY DISCLOSURES

Amounts owed by connected parties: falling due within than one year
31.12.23 31.12.22

Nature of relationship
Nature of
transaction

$   

$   
Entity under joint control/significant
influence of

Finance

-

622,136
related persons
- 622,136
Amounts owed by connected parties: falling due after more than one year
31.12.23 31.12.22

Nature of relationship
Nature of
transaction

$   

$   
Entity under joint control/significant
influence of related persons

Finance

60,013,924

46,690,727
60,013,924 46,690,727


Amounts owed to connected parties falling due within one year
31.12.22 31.12.22

Nature of relationship
Nature of
transaction

$   

$   
Entity under joint control/significant
influence of related persons

Finance

47,213,724

31,496,207
47,213,724 31,496,207

Amounts receivable are due for repayment by 16 December 2021 and are interest free until 27 December 2019. The monthly interest rate of LIBOR+2% is applicable on outstanding amounts after that date.