Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01Asset Managementfalse03falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC423757 2023-04-01 2024-03-31 OC423757 2022-04-01 2023-03-31 OC423757 2024-03-31 OC423757 2023-03-31 OC423757 c:CurrentFinancialInstruments 2024-03-31 OC423757 c:CurrentFinancialInstruments 2023-03-31 OC423757 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC423757 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC423757 d:FRS102 2023-04-01 2024-03-31 OC423757 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC423757 d:FullAccounts 2023-04-01 2024-03-31 OC423757 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC423757 2 2023-04-01 2024-03-31 OC423757 6 2023-04-01 2024-03-31 OC423757 d:PartnerLLP1 2023-04-01 2024-03-31 OC423757 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC423757 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC423757 c:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31 OC423757 c:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31 OC423757 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC423757 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC423757 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC423757 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC423757 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC423757










HARLEX (TIMPERLEY ASSET MANAGEMENT) LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
HARLEX (TIMPERLEY ASSET MANAGEMENT) LLP
 

CONTENTS



Page
Balance sheet
 
 
1 - 2
Reconciliation of members' interests
 
 
3
Notes to the financial statements
 
 
4 - 8


 
HARLEX (TIMPERLEY ASSET MANAGEMENT) LLP
REGISTERED NUMBER: OC423757

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
887,497
198,274

  
887,497
198,274

Current assets
  

Debtors: amounts falling due within one year
 5 
15,580
16,354

Cash at bank and in hand
 6 
9,995
426

  
25,575
16,780

Creditors: Amounts Falling Due Within One Year
 7 
(17,066)
(17,200)

Net current assets/(liabilities)
  
 
 
8,509
 
 
(420)

Total assets less current liabilities
  
896,006
197,854

  

Net assets
  
896,006
197,854


Represented by:
  

Loans and other debts due to members
  

Other amounts
 9 
895,906
(16,708)

  
895,906
(16,708)

Members' other interests
  

Members' capital classified as equity
  
100
100

Members' contributions classified as equity
  
-
150,094

Other reserves classified as equity

  

-
64,368

  
 
100
 
214,562

  
896,006
197,854


Total members' interests
  

Loans and other debts due to members
 9 
895,906
(16,708)

Members' other interests
  
100
214,562

  
896,006
197,854


Page 1

 
HARLEX (TIMPERLEY ASSET MANAGEMENT) LLP
REGISTERED NUMBER: OC423757
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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

The entity 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.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

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

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf by: 




................................................
C A Allen
On behalf of Fiera Real Estate UK Limited
Designated member

Date: 11 November 2024

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
HARLEX (TIMPERLEY ASSET MANAGEMENT) LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2024








Equity
Members' other interests
Debt
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Capital contribution
Other reserves
Total
Other amounts
Total
Total

£
£
£
£
£
£
£

Amounts due to members 

(33,122)
(33,122)


Balance at 1 April 2022 
100
131,040
-
131,140
(33,122)
(33,122)
98,018

Members' remuneration charged as an expense
-
-
-
-
16,414
16,414
16,414

Profit for the year available for discretionary division among members
 
-
-
64,368
64,368
-
-
64,368

Members' interests after profit for the year
100
131,040
64,368
195,508
(16,708)
(16,708)
178,800

Movement in reserves
-
19,054
-
19,054
-
-
19,054

Amounts due to members
(16,708)
(16,708)

Balance at 31 March 2023
100
150,094
64,368
214,562
(16,708)
(16,708)
197,854

Members' remuneration charged as an expense
-
-
-
-
940,360
940,360
940,360

Loss for the year available for discretionary division among members
 
-
-
(64,368)
(64,368)
-
-
(64,368)

Members' interests after profit for the year
100
150,094
-
150,194
923,652
923,652
1,073,846

Profit distributed to members
-
-
-
-
(27,746)
(27,746)
(27,746)

Movement in reserves
-
(150,094)
-
(150,094)
-
-
(150,094)

Amounts due to members
 




895,906
895,906


Balance at 31 March 2024 
100
-
-
100
895,906
895,906
896,006

The notes on pages 4 to 8 form part of these financial statements.

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 3

 
HARLEX (TIMPERLEY ASSET MANAGEMENT) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Harlex (Timperley Asset Management) LLP is a Limited Liability Partnership, registered in England and Wales, registration number OC423757. The address of the registered office is Third Floor Queensberry House, 3 Old Burlington Street, London, United Kingdom, W1S 3AE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover represents fees receivable net of VAT and share of partnership result.
Income is recognised as follows:
(i) Fees receivable - turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.
Where a contract has only been partially completed at the balance sheet date turnover represents the value of the services provided based on a proportion of the total expected consideration at completion.
(ii) Share of partnership result - upon realisation of the profit or loss in the partnership.  

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Investments

The valuation of the investment in the SPV is based on the entity’s entitlement to the proportion of the net assets of the SPV after adjusting for the fair value of the stock held. 

  
2.5

Going concern

The LLP is currently reliant on its members for financial support. The members are commited to the sustainment of the LLP and its activities, and are confident that the LLP has the resources to continue operating for at least 12 months from the date the financial statements are authorised. The members have concluded that it is appropriate that the financial statements be prepared on a going concern basis.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
HARLEX (TIMPERLEY ASSET MANAGEMENT) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the LLP's Balance sheet when the LLP becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

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 LLP after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
 
Page 5

 
HARLEX (TIMPERLEY ASSET MANAGEMENT) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the LLP transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the LLP will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the LLP's contractual obligations expire or are discharged or cancelled.


3.


Members

The average number of members during the year was 3 (2023: 3).



4.


Fixed asset investments





Investments
Fair value movement
Share of results
Loans to investments
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
3
64,368
(1,862)
135,765
198,274


Additions
-
-
-
3,190
3,190


Disposals
-
-
(478,936)
(138,955)
(617,891)


Revaluations
-
(64,368)
-
-
(64,368)


Share of profits
-
-
1,368,292
-
1,368,292



At 31 March 2024
3
-
887,494
-
887,497




Page 6

 
HARLEX (TIMPERLEY ASSET MANAGEMENT) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
13,516
15,000

Other debtors
1,964
1,254

Unpaid share capital
100
100

15,580
16,354



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
9,995
426



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
13,516
15,000

Accruals and deferred income
3,550
2,200

17,066
17,200



8.


Other reserves

Other reserves consist of the fair value gains on investments. This reserve is undistributable. 

Page 7

 
HARLEX (TIMPERLEY ASSET MANAGEMENT) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans and other debts due to members


2024
2023
£
£



Amounts owed to/(by) members in respect of profit/(loss)
895,906
(16,708)

895,906
(16,708)

Total members' interest, including loans and other debts due to members, are unsecured and would rank Pari passu with other unsecured creditors in the event of winding up.



 
Page 8