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REGISTERED NUMBER: OC330612 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

VALIENT LLP

VALIENT LLP (REGISTERED NUMBER: OC330612)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VALIENT LLP

General Information
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: Dr J S Alderson
Ms E T Vega





REGISTERED OFFICE: The Old Bank
Old Market Place
Altrincham
Cheshire
WA14 4PA





REGISTERED NUMBER: OC330612 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
3rd Floor
St George's House
56 Peter Street
Manchester
M2 3NQ

VALIENT LLP (REGISTERED NUMBER: OC330612)

Balance Sheet
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 145 465
Investment property 5 3,173,298 3,173,298
3,173,443 3,173,763

CURRENT ASSETS
Debtors 6 480 527
Cash at bank 22,808 24,049
23,288 24,576
CREDITORS
Amounts falling due within one year 7 1,347,550 1,269,453
NET CURRENT LIABILITIES (1,324,262 ) (1,244,877 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,849,181

1,928,886

CREDITORS
Amounts falling due after more than one
year

8

1,623,927

1,723,523
NET ASSETS ATTRIBUTABLE TO
MEMBERS

225,254

205,363

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

225,254

205,363

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 225,254 205,363

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 March 2024.

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.

VALIENT LLP (REGISTERED NUMBER: OC330612)

Balance Sheet - continued
31 MARCH 2024


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 by the members of the LLP and authorised for issue on 26 September 2024 and were signed by:





Dr J S Alderson - Designated member

VALIENT LLP (REGISTERED NUMBER: OC330612)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Valient LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

Investment property
Investment property is carried at fair value determined annually by the members with support from external valuers if required and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset.
Changes in fair value are recognised in the Statement of Comprehensive Income. No depreciation is provided.

Going concern
At the time of approving the financial statements, the members have a reasonable expectation that the limited liability partnership has adequate resources to continue in operational existence for the foreseeable future.
Thus the members continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - NIL).

VALIENT LLP (REGISTERED NUMBER: OC330612)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 112,335
DEPRECIATION
At 1 April 2023 111,870
Charge for year 320
At 31 March 2024 112,190
NET BOOK VALUE
At 31 March 2024 145
At 31 March 2023 465

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 3,173,298
NET BOOK VALUE
At 31 March 2024 3,173,298
At 31 March 2023 3,173,298

The members have assessed the market value of the property at 31 March 2023 and consider the open market value to be equal to the cost of the property.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 480 527

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 86,664 73,732
Trade creditors 798 1,131
Taxation and social security 32,428 9,096
Other creditors 1,227,660 1,185,494
1,347,550 1,269,453

VALIENT LLP (REGISTERED NUMBER: OC330612)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 1,623,927 1,723,523

The bank loan is secured by a fixed and floating charge over the undertaking and all property and assets, present and future, owned by the company.

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up the amounts included in "Loans and other debts due to
members" will rank equally with unsecured creditors.

10. RELATED PARTY TRANSACTIONS

During the year, Valient LLP charged rent of £292,800 net of VAT (2023: £216,000) to Informed Solutions Limited, a company in which the members are directors and shareholders. In the same period, Informed Solutions Limited recharged costs of £4,675 (2023: £33,054) to Valient LLP.

At 31 March 2024, Valient LLP owed £1,132,670 (2023: £1,129,257) to Informed Solutions Limited. Valient LLP paid interest of £68,618 (2023: £42,919) on the amount owed.

11. ULTIMATE CONTROLLING PARTY

The controlling party is the members of the limited liability partnership jointly.