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No description of principal activity
2023-01-01
Sage Accounts Production Advanced 2023 - FRS102_2023
3,193,073
1,152,541
1,350,277
414,639
3,409,976
3,409,976
3,193,073
xbrli:pure
xbrli:shares
iso4217:USD
OC350902
2023-01-01
2023-12-31
OC350902
2023-12-31
OC350902
2022-12-31
OC350902
2022-01-01
2022-12-31
OC350902
2022-12-31
OC350902
2021-12-31
OC350902
bus:RegisteredOffice
2023-01-01
2023-12-31
OC350902
bus:LeadAgentIfApplicable
2023-01-01
2023-12-31
OC350902
bus:Director1
2023-01-01
2023-12-31
OC350902
bus:Director2
2023-01-01
2023-12-31
OC350902
core:CostValuation
core:Non-currentFinancialInstruments
2022-12-31
OC350902
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2023-12-31
OC350902
core:DisposalsRepaymentsInvestments
core:Non-currentFinancialInstruments
2023-12-31
OC350902
core:Non-currentFinancialInstruments
core:RevaluationsIncreaseDecreaseInInvestments
2023-12-31
OC350902
core:CostValuation
core:Non-currentFinancialInstruments
2023-12-31
OC350902
core:Non-currentFinancialInstruments
2023-12-31
OC350902
core:Non-currentFinancialInstruments
2022-12-31
OC350902
bus:SmallEntities
2023-01-01
2023-12-31
OC350902
bus:AuditExempt-NoAccountantsReport
2023-01-01
2023-12-31
OC350902
bus:SmallCompaniesRegimeForAccounts
2023-01-01
2023-12-31
OC350902
bus:LimitedLiabilityPartnershipLLP
2023-01-01
2023-12-31
OC350902
bus:FullAccounts
2023-01-01
2023-12-31
REGISTERED NUMBER:
OC350902
LOWNDES OVERSEAS INVESTMENTS LLP |
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
LOWNDES OVERSEAS INVESTMENTS LLP |
|
YEAR ENDED 31 DECEMBER 2023
Designated members and professional advisers |
1 |
|
|
Statement of financial position |
2 to 3 |
|
|
Notes to the financial statements |
4 to 6 |
|
|
LOWNDES OVERSEAS INVESTMENTS LLP |
|
DESIGNATED MEMBERS AND PROFESSIONAL ADVISERS |
|
Designated members |
A L Morad |
|
E Pereira Morad |
|
|
Registered office |
St. Martin's Court |
|
10 Paternoster Row |
|
London |
|
England |
|
EC4M 7EJ |
|
|
Accountants |
BSG Valentine (UK) LLP |
|
Chartered accountants |
|
Lynton House |
|
7 - 12 Tavistock Square |
|
London |
|
WC1H 9BQ |
|
|
LOWNDES OVERSEAS INVESTMENTS LLP |
|
STATEMENT OF FINANCIAL POSITION |
|
31 December 2023
FIXED ASSETS
Investments |
4 |
|
3,409,976 |
|
3,193,073 |
|
|
|
|
|
|
CURRENT ASSETS
Cash at bank and in hand |
468,182 |
|
151,710 |
|
|
--------- |
|
--------- |
|
NET CURRENT ASSETS |
|
468,182 |
|
151,710 |
|
|
------------ |
|
------------ |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
3,878,158 |
|
3,344,783 |
|
|
------------ |
|
------------ |
|
|
|
|
|
REPRESENTED BY:
LOANS AND OTHER DEBTS DUE TO MEMBERS
Other amounts |
5 |
|
1,526,995 |
|
993,620 |
|
|
|
|
|
|
MEMBERS' OTHER INTERESTS
Members' capital classified as equity |
|
2,351,163 |
|
2,351,163 |
Other reserves |
|
– |
|
– |
|
|
------------ |
|
------------ |
|
|
3,878,158 |
|
3,344,783 |
|
|
------------ |
|
------------ |
|
|
|
|
|
TOTAL MEMBERS' INTERESTS
Loans and other debts due to members |
5 |
|
1,526,995 |
|
993,620 |
Members' other interests |
|
2,351,163 |
|
2,351,163 |
|
|
------------ |
|
------------ |
|
|
3,878,158 |
|
3,344,783 |
|
|
------------ |
|
------------ |
|
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the income statement has not been delivered.
For the year ending 31 December 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements
.
LOWNDES OVERSEAS INVESTMENTS LLP |
|
STATEMENT OF FINANCIAL POSITION (continued) |
|
31 December 2023
These financial statements were approved by the
members
and authorised for issue on
21 August 2024
, and are signed on their behalf by:
A L Morad |
Designated Member |
|
Registered number:
OC350902
LOWNDES OVERSEAS INVESTMENTS LLP |
|
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31 DECEMBER 2023
The LLP is registered in England and Wales. The address of the registered office is St. Martin's Court, 10 Paternoster Row, London, EC4M 7EJ, England.
2. |
Statement of compliance |
|
|
These financial statements have been prepared in compliance with Section 1A 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' issued in December 2018 (SORP 2018).
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
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).
Foreign currencies
Assets and liabilities in foreign currencies are translated into dollars at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into dollars at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the LLP are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the LLP becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
|
Other investments other than loans |
|
$ |
Cost |
|
At 1 January 2023 |
3,193,073 |
Additions |
1,152,541 |
Disposals |
(
1,350,277) |
Revaluations |
414,639 |
|
------------ |
At 31 December 2023 |
3,409,976 |
|
------------ |
Impairment |
|
At 1 January 2023 and 31 December 2023 |
– |
|
------------ |
|
|
Carrying amount |
|
At 31 December 2023 |
3,409,976 |
|
------------ |
At 31 December 2022 |
3,193,073 |
|
------------ |
|
|
5. |
Loans and other debts due to members |
|
|
|
2023 |
2022 |
|
$ |
$ |
Amounts owed to members in respect of profits |
1,526,995 |
993,620 |
|
------------ |
--------- |
|
|
|
6. |
Related party transactions |
|
|
The LLP is controlled equally by the designated members.