Registration number:
EISER Infrastructure Partners LLP
for the Year Ended 31 December 2023
EISER Infrastructure Partners LLP
Contents
Limited liability partnership information |
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Members' Report |
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Statement of Members' Responsibilities |
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Accountants' Report |
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Consolidated Financial Statements |
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Consolidated Statement of Comprehensive Income |
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Consolidated Balance Sheet |
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Balance Sheet |
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Consolidated Statement of Changes in Members’ Interests |
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Statement of Changes in Members’ Interests |
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Consolidated Cash Flow Statement |
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Notes to the Consolidated Financial Statements |
EISER Infrastructure Partners LLP
Limited liability partnership information
Designated members |
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Registered office |
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Solicitors |
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Bankers |
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Accountants |
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EISER Infrastructure Partners LLP
Members' Report for the Year Ended 31 December 2023
The members present their report and the unaudited consolidated financial statements for the year ended 31 December 2023.
These financial statements consolidate the financial statements for EISER Infrastructure Partners LLP (“EIP”, “the partnership”, or “LLP”), EISER Infrastructure Limited (“EIL”), EISER Finance Limited (“EFL”), and EISER Infrastructure GP LLP (“GP LLP”) collectively referred to as the Group, drawn upto 31 December 2023.
Principal activity
The principal activity of the limited liability partnership is holding entity.
Review of the business and future developments
The members conduct monthly members meetings to address both financial and non-financial issues. Financial review includes the complete review of management accounts and detailed forecasts are undertaken to ensure the continued growth of the business.
Principal risks and uncertainties
The principal risks and uncertainties related to the Group are that it ceases to be the appointed investment manager to Fund I, along with the ability of the Group to attract and retain investors for future Funds.
The LLP continues to monitor and improve controls and processes to provide adequate oversight for actively managing the assets of Fund I. Other risks and uncertainties relate to the ability to attract and retain key investment executives.
The LLP is not exposed to any significant price, credit, liquidity or cash flow risk.
Results
The consolidated statement of comprehensive income shows group profits/(losses) available for distribution among members of £141,771 (2022: £ 253,193 profit).
The Group's statement of financial position shows Group members' total interest amount to £1,823,997 (2022: £1,682,226).
The partnership has taken advantage of Section 408 of the Companies Act 2006 as applied by the Limited Liability Partnerships, Partnerships and Groups (Accounts & Audit) Regulations 2016 and has not included its own profit and loss account in these financial statements. Its own profit for the year available for discretionary division among members was £264,393 (2022: £3,766).
Designated members
The members who held office during the year and to the date of this report were as follows:
Mr H R W Meissner
EISER Finance Limited
EISER Infrastructure Partners LLP
Members' Report for the Year Ended 31 December 2023
Members' drawings and the subscription and repayment of members' capital
Policies for members’ drawings, subscriptions and repayment of members’ capital are governed by the amended and restated Limited Liability Partnership Agreement dated 5 March 2014.
Approved by the
......................................... |
EISER Infrastructure Partners LLP
Statement of Members' Responsibilities for the Year Ended 31 December 2023
The members are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
The Limited Liability Partnerships, Partnerships and Groups (Accounts & Audit) Regulations 2016 require the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under Company law as applied to LLPs the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and limited liability partnership and of the profit or loss of the group and limited liability partnership for that year. In preparing these financial statements, the members are required to:
• |
select suitable accounting policies and then apply them consistently; |
• |
make judgements and accounting estimates that are reasonable and prudent; |
• |
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and partnership will continue in business. |
The members are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the limited liability partnership and enable them to ensure that the financial statements comply with the Companies Act 2006, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, and in accordance with the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships (issued January 2017). They are also responsible for safeguarding the assets of the limited liability partnership and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
These responsibilities are exercised by the Board on behalf of the members.
Chartered Accountants' Report to the Members on the Preparation of the Unaudited Statutory Financial Statements of
EISER Infrastructure Partners LLP
for the Year Ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, as applied to limited liability partnerships, we have prepared for your approval the accounts of EISER Infrastructure Partners LLP for the year ended 31 December 2023 set out on pages 6 to 22 from the limited liability partnership's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the members of EISER Infrastructure Partners LLP, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of EISER Infrastructure Partners LLP and state those matters that we have agreed to state to the members of EISER Infrastructure Partners LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than EISER Infrastructure Partners LLP and its members as a body for our work or for this report.
It is your duty to ensure that EISER Infrastructure Partners LLP has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of EISER Infrastructure Partners LLP. You consider that EISER Infrastructure Partners LLP is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of EISER Infrastructure Partners LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Chartered Accountants
Edgware
Middlesex
HA8 7AB
EISER Infrastructure Partners LLP
Consolidated Statement of Comprehensive Income
for the Year Ended 31 December 2023
Note |
2023 |
2022 |
|
Turnover |
435,216 |
184,742 |
|
Administrative expenses |
(308,373) |
(11,202) |
|
Operating profit |
126,843 |
173,540 |
|
Realised loss on investments in subsidiary |
- |
- |
|
Foreign currency gains/(losses) |
(47,838) |
73,600 |
|
Other interest receivable and similar income |
72,548 |
7,335 |
|
Other income |
- |
- |
|
Interest payable and similar charges |
(790) |
(1,282) |
|
Profit for the year before taxation and members' remuneration charged as an expense |
150,763 |
253,193 |
|
Taxation |
(8,992) |
- |
|
Profit for the year before members' remuneration charged as an expense |
141,771 |
253,193 |
|
Profit for the year available for discretionary division among members |
141,771 |
253,193 |
|
Profit/(loss) attributable to: |
|||
Owners of the parent |
141,771 |
253,193 |
Turnover and operating profit derive wholly from continuing operations.
The limited liability partnership has no recognised gains or losses for the year other than the results above.
EISER Infrastructure Partners LLP
(Registration number: OC349990)
Consolidated Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Tangible assets |
|
|
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Investments |
|
|
|
|
|
||
Current assets |
|||
Debtors |
|
|
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Cash and short-term deposits |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
|
|
|
Net assets attributable to members |
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|
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Represented by: |
|||
Members’ other interests |
|||
Members' capital classified as equity |
872,280 |
872,280 |
|
Other reserves |
|
|
|
1,823,997 |
1,682,226 |
||
1,823,997 |
1,682,226 |
||
Total members' interests |
|||
Equity |
|
|
|
1,823,997 |
1,682,226 |
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 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 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.
These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLP's regime.
EISER Infrastructure Partners LLP
(Registration number: OC349990)
Consolidated Balance Sheet as at 31 December 2023
The financial statements of EISER Infrastructure Partners LLP (registered number OC349990) were approved by the
......................................... |
EISER Infrastructure Partners LLP
(Registration number: OC349990)
Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Investments |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Cash and short-term deposits |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
|
|
|
Net assets attributable to members |
|
|
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Represented by: |
|||
Members’ other interests |
|||
Members' capital classified as equity |
872,280 |
872,280 |
|
Other reserves |
( |
( |
|
696,185 |
431,791 |
||
696,185 |
431,791 |
||
Total members' interests |
|||
Equity |
|
|
|
696,185 |
431,791 |
The partnership profit for the year, available for discretionary division among members, was £264,393 (2022 - £3,766).
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 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 limited liability partnerships by the LLP (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLP's regime.
The financial statements of EISER Infrastructure Partners LLP (registered number OC349990) were approved by the
EISER Infrastructure Partners LLP
(Registration number: OC349990)
Balance Sheet as at 31 December 2023
......................................... |
EISER Infrastructure Partners LLP
Consolidated Statement of Changes in Members’ Interests
At 31 December 2023
Equity |
||||
Members' capital |
Other reserves |
Total |
Total |
|
Members' interest at 31 December 2021 as previously stated |
872,280 |
556,753 |
1,429,033 |
1,429,033 |
Members' interest at 1 January 2022 as restated |
872,280 |
556,753 |
1,429,033 |
1,429,033 |
Profit for the financial year available for discretionary division among members |
- |
253,193 |
253,193 |
253,193 |
At 31 December 2022 |
872,280 |
809,946 |
1,682,226 |
1,682,226 |
Equity |
||||
Members' capital |
Other reserves |
Total |
Total |
|
Members' interest at 1 January 2023 as restated |
872,280 |
809,946 |
1,682,226 |
1,682,226 |
Profit for the financial year available for discretionary division among members |
- |
141,771 |
141,771 |
141,771 |
At 31 December 2023 |
872,280 |
951,717 |
1,823,997 |
1,823,997 |
EISER Infrastructure Partners LLP
Statement of Changes in Members’ Interests
At 31 December 2023
Equity |
||||
Members' capital |
Other reserves |
Total equity |
Total |
|
Members' interest at 1 January 2022 |
872,280 |
(444,255) |
428,025 |
428,025 |
(Profit)/loss for the period available for discretionary division among members |
- |
3,766 |
3,766 |
3,766 |
At 31 December 2022 |
872,280 |
( |
431,791 |
431,791 |
Equity |
||||
Members' capital |
Other reserves |
Total equity |
Total |
|
Members' interest at 1 January 2023 |
872,280 |
(440,489) |
431,791 |
431,791 |
(Profit)/loss for the period available for discretionary division among members |
- |
264,394 |
264,394 |
264,394 |
At 31 December 2023 |
872,280 |
( |
696,185 |
696,185 |
EISER Infrastructure Partners LLP
Consolidated Cash Flow Statement
for the Year Ended 31 December 2023
Note |
2023 |
2022 |
|
Operating profit |
126,843 |
173,540 |
|
Depreciation |
16,318 |
22,097 |
|
Non cash movement - Revaluation of Investments - FVTPL |
(14) |
(494) |
|
Debtors movement |
100,097 |
(96,550) |
|
Creditors movement |
188,627 |
(328,452) |
|
Foreign currency gains/(losses) |
(47,838) |
73,600 |
|
Net cash inflow/(outflow) from operating activities |
384,033 |
(156,259) |
|
Cash flows from investing activities |
|||
Interest received |
72,548 |
7,335 |
|
Cash flows from financing activities |
|||
Interest paid |
(790) |
(1,282) |
|
Net increase/(decrease) in cash and cash equivalents |
455,791 |
(150,206) |
|
Cash and cash equivalents at 1 January |
1,805,513 |
1,955,719 |
|
Cash and cash equivalents at 31 December |
2,261,304 |
1,805,513 |
2023 |
2022 |
|
Reconciliation to cash at bank and in hand: |
||
Cash at bank |
2,261,304 |
1,805,513 |
EISER Infrastructure Partners LLP
Notes to the Consolidated Financial Statements for the Year Ended 31 December 2023
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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and requirements of the Statement of Recommended Practice (SORP) 'Accounting by Limited Liability Partnerships' (2017).
General information and basis of accounting
The limited liability partnership is incorporated in the United Kingdom under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.
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.
Functional currency
The group considers the pound sterling to be the currency that most faithfully represents the economic effect of the underlying transactions, events and conditions. The pound sterling is the currency in which the group measures its performance and reports its results.
Basis of consolidation
The consolidated financial statements comprise the financial statements of the partnership and its subsidiaries, as at 31 December 2023. The subsidiaries are EISER Infrastructure Limited (“EIL”), EISER Finance Limited (“EFL”) and EISER Infrastructure GP LLP (“GP LLP”).
Profit in relation to EIP for the year amounted to £264,393 (2022: £3,766). No statement of comprehensive income is presented for EISER Infrastructure Partners LLP as permitted by section 408 of the Companies Act 2006, Financial Reporting Standard 102, “The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland” (“FRS 102”).
Subsidiaries are fully consolidated from the date of acquisition, being the date on which the partnership obtains control, and continue to be consolidated until the date that such control ceases. The financial statements of EFL, GP LLP and EIL are prepared for the same reporting period as the partnership. All intra-group balances, income and expenses, unrealised gains and losses and dividends resulting from intra-group transactions are eliminated in full.
EISER Infrastructure Partners LLP
Notes to the Consolidated Financial Statements for the Year Ended 31 December 2023
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the statement of financial position 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. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of Advisory and
Administration services in the ordinary course of the group’s activities. Turnover is shown net of sales/value added tax, and discounts.
Turnover is accounted for on an accruals basis. Refer note 2 for breakdown of turnover.
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.
Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.
Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.
Profits available for distribution are distributed in accordance with the amended and restated Limited Liability Partnership Agreement.
Foreign currency
Taxation
The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.
EISER Infrastructure Partners LLP
Notes to the Consolidated Financial Statements for the Year Ended 31 December 2023
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible fixed assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Fixtures and fittings |
3 years straight line basis |
Office equipment |
3 years straight line basis |
Motor vehicles |
25% reducing balance method |
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 in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Fixed asset investments
Investment in subsidiaries
Investments in subsidiaries represent the Partnership's interest in EFL, as company incorporated and registered in England and Wales, and GP LLP, a partnership registered in England and Wales. Investments are stated at historical cost less provision for any permanent diminution in value.
Other investments
Financial assets represent the company’s interest in EISER Global Infrastructure Fund, held at fair value through profit and loss.
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.
EISER Infrastructure Partners LLP
Notes to the Consolidated Financial Statements for the Year Ended 31 December 2023
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership 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.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Members' interests
Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.
Pensions and other post retirement obligations
The partnership operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.
Employer Financed Retirement Benefit Schemes ("EFRBS")
In 2012, the partnership established an employer financed retirement benefit scheme for the benefit of its officers, employees and their wider families, The EISER Finance Limited 2012 EFRBS (‘the Scheme’).
In accordance with UITF Abstract 32 ‘Employee Benefit Trusts and other intermediate payment arrangements’, the partnership does not include the assets and liabilities of the Scheme on its statement of financial position to the extent that it considers that it will not retain any future economic benefit from the assets of the Scheme and will not have control of the rights or other access to those future economic benefits.
Turnover |
An analysis of the group's turnover for the year by class of business is as follows:
2023 |
2022 |
|
Advisory and directors' fees |
435,216 |
184,742 |
All income during the year were generated in the United Kingdom.
EISER Infrastructure Partners LLP
Notes to the Consolidated Financial Statements for the Year Ended 31 December 2023
Particulars of employees |
The average number of persons employed by the limited liability partnership (including members) during the year, analysed by category was as follows:
2023 |
2022 |
|
Sales, marketing and distribution |
|
|
|
|
|
|
The aggregate payroll costs were as follows:
2023 |
2022 |
|
Wages and salaries |
33,000 |
(240,765) |
Social security costs |
3,178 |
5,027 |
36,178 |
(235,738) |
|
|
Members' remuneration |
2023 |
2022 |
|
Average number of members during the year |
2 |
2 |
The average profit/(loss) allocation per member in respect of the year's results amounted to £141,770 (2022: £253,193 profit).
Profits are shared among members in accordance with agreed profit sharing arrangements. The average profit per member is calculated in accordance with the requirements of the SORP by dividing the profit for the financial year before members' remuneration and profit shares by the average number of all members.
Directors' emoluments of £23,000 (2022: £23,000) in respect of members who were also directors of subsidiary, are included in staff costs.
The profit/(loss) attributable to the member with the largest entitlement was £141,770 (2022: £253,193 profit).
Allocated profits take in to account pension and annuity payments and include sums allocated as interest, members' motor expenses and capital profits.
EISER Infrastructure Partners LLP
Notes to the Consolidated Financial Statements for the Year Ended 31 December 2023
Taxation |
Tax charged/(credited) in the income statement
2023 |
|
Current taxation |
|
UK corporation tax for the period |
|
Profit of the partnership |
The partnership has taken advantage of Section 408 of the Companies Act 2006 as applied by the Limited Liability Partnerships, Partnerships and Groups (Accounts & Audit) Regulations 2016 and has not included its own profit and loss account in these financial statements. Its own profit for the year available for discretionary division among members was £264,393 (2022 - £3,766).
Tangible fixed assets |
Group
Motor vehicles |
Office equipment |
Total |
|
Cost |
|||
At 1 January 2023 |
102,428 |
5,776 |
108,204 |
At 31 December 2023 |
102,428 |
5,776 |
108,204 |
Depreciation |
|||
At 1 January 2023 |
40,011 |
5,062 |
45,073 |
Charge for the year |
15,604 |
714 |
16,318 |
At 31 December 2023 |
55,615 |
5,776 |
61,391 |
Net book value |
|||
At 31 December 2023 |
46,813 |
- |
46,813 |
At 31 December 2022 |
62,417 |
714 |
63,131 |
EISER Infrastructure Partners LLP
Notes to the Consolidated Financial Statements for the Year Ended 31 December 2023
LLP
Total |
|
Cost |
|
At 1 January 2023 |
- |
At 31 December 2023 |
- |
Depreciation |
|
At 1 January 2023 |
- |
At 31 December 2023 |
- |
Net book value |
|
At 31 December 2023 |
- |
Investments held as fixed assets |
Group
2023 |
2022 |
|
Other investments |
|
|
Other investments
Listed investments |
Total |
|
Cost |
||
At 1 January 2023 |
9,831 |
9,831 |
Revaluation |
14 |
14 |
At 31 December 2023 |
9,845 |
9,845 |
Net book value |
||
At 31 December 2023 |
9,845 |
9,845 |
At 31 December 2022 |
9,831 |
9,831 |
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:
EISER Infrastructure Partners LLP
Notes to the Consolidated Financial Statements for the Year Ended 31 December 2023
Undertaking |
Country of incorporation |
Holding |
Proportion of voting rights and shares held |
Principal activity |
Subsidiary undertakings |
||||
|
England and Wales |
Ordinary Shares |
|
Holding company |
|
England and Wales |
Ordinary shares |
|
General Partner |
|
England and Wales |
Partnership interest |
|
General Partner |
Debtors |
Group |
Partnership |
|||
2023 |
2022 |
2023 |
2022 |
|
Amounts owed by group undertakings |
|
|
|
|
Other debtors |
|
|
- |
|
Prepayments and accrued income |
|
|
- |
- |
|
|
|
|
Creditors: Amounts falling due within one year |
Group |
Partnership |
|||
2023 |
2022 |
2023 |
2022 |
|
Trade creditors |
4,278 |
3,455 |
- |
- |
Amounts owed to group undertakings |
956,583 |
805,007 |
418,915 |
418,915 |
Other taxes and social security |
1,454 |
927 |
- |
- |
Other creditors |
334 |
216,411 |
- |
216,528 |
Accruals and deferred income |
517,031 |
265,253 |
- |
- |
Corporation tax payable |
8,992 |
- |
- |
- |
1,488,672 |
1,291,053 |
418,915 |
635,443 |
EISER Infrastructure Partners LLP
Notes to the Consolidated Financial Statements for the Year Ended 31 December 2023
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
Group |
Partnership |
||
2023 |
2023 |
2022 |
|
- |
- |
- |
Pension and other schemes |
Defined contribution pension scheme
The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £Nil (2022 - £Nil).
Contributions totalling £334 (2022 - £334) were payable to the scheme at the end of the year and are included in creditors.
Related party transactions |
Group
Summary of transactions with other related parties
As at 31 December 2023, £0 (2022: £67,486) was receivable by the group from Fund I
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.