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REGISTERED NUMBER: OC441906 (England and Wales)














Unaudited Financial Statements for the Year Ended 31 March 2024

for

LIBERTY CO-INVEST II LLP

LIBERTY CO-INVEST II LLP (REGISTERED NUMBER: OC441906)






Contents of the Financial Statements
for the year ended 31 MARCH 2024




Page

General Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


LIBERTY CO-INVEST II LLP

General Information
for the year ended 31 MARCH 2024







DESIGNATED MEMBERS: D N Martinez
S J Hill
M J McDonagh
T C Thomas
S Thomson
J Holland
C Kazab
J Neoh
Y Soh
A Rubio Serrano





REGISTERED OFFICE: 2nd Floor
7 Savoy Court
Covent Garden
London
WC2R 0EZ





REGISTERED NUMBER: OC441906 (England and Wales)





ACCOUNTANTS: Coopers&Co Ltd
Thistledown Barn
204 Holcot Road
Sywell
Northampton
Northamptonshire
NN6 0BG

LIBERTY CO-INVEST II LLP (REGISTERED NUMBER: OC441906)

Abridged Balance Sheet
31 MARCH 2024

2024 2023
£    £   
CURRENT ASSETS
Debtors 712 4,904
Investments 1,313,636 625,000
Cash at bank 3,922 939
1,318,270 630,843
CREDITORS
Amounts falling due within one year 780 843
NET CURRENT ASSETS 1,317,490 630,000
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,317,490

630,000

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 1,317,490 630,000
1,317,490 630,000

TOTAL MEMBERS' INTERESTS
Members' other interests 1,317,490 630,000
Amounts due from members - (4,192 )
1,317,490 625,808

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.

LIBERTY CO-INVEST II LLP (REGISTERED NUMBER: OC441906)

Abridged 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 1 October 2024 and were signed by:





D N Martinez - Designated member

LIBERTY CO-INVEST II LLP (REGISTERED NUMBER: OC441906)

Notes to the Financial Statements
for the year ended 31 MARCH 2024

1. STATUTORY INFORMATION

Liberty Co-Invest II 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

Accounting convention
These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in January 2017, together with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

LIBERTY CO-INVEST II LLP (REGISTERED NUMBER: OC441906)

Notes to the Financial Statements - continued
for the year ended 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial
Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial
instruments.

Financial instruments are recognised in the limited liability partnership's statement of financial position
when the limited liability partnership becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a
net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the
effective interest method unless the arrangement constitutes a financing transaction, where the transaction
is measured at the present value of the future receipts discounted at a market rate of interest. Financial
assets classified as receivable within one year are not amortised.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or
joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are
subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that
investments in equity instruments that are not publicly traded and whose fair values cannot be measured
reliably are measured at cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss , are assessed for indicators of
impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that
occurred after the initial recognition of the financial asset, the estimated future cash flows have been
affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the
present value of the estimated cash flows discounted at the asset’s original effective interest rate. The
impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was
recognised, the impairment is reversed. The reversal is such that the current carrying amount does not
exceed what the carrying amount would have been, had the impairment not previously been recognised.
The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire
or are settled, or when the limited liability partnership transfers the financial asset and substantially all the
risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are
retained but control of the asset has transferred to another party that is able to sell the asset in its entirety
to an unrelated third party.






LIBERTY CO-INVEST II LLP (REGISTERED NUMBER: OC441906)

Notes to the Financial Statements - continued
for the year ended 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the
assets of the limited liability partnership after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference
shares that are classified as debt, are initially recognised at transaction price unless the arrangement
constitutes a financing transaction, where the debt instrument is measured at the present value of the
future payments discounted at a market rate of interest. Financial liabilities classified as payable within one
year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course
of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the limited liability partnership ’s obligations expire or are
discharged or cancelled.

Equity instruments
Equity instruments issued by the limited liability partnership are recorded at the proceeds received, net of
direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no
longer at the discretion of the limited liability partnership.

3. EMPLOYEE INFORMATION

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