Registered number
OC401062
ECP Investments LLP
Filleted Accounts
31 March 2024
ECP Investments LLP
Registered number: OC401062
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Investments 2 135,472 135,472
Current assets
Debtors 3 680,844 381,930
Cash at bank and in hand 1,059 58,334
681,903 440,264
Creditors: amounts falling due within one year 4 (4,583) (200)
Net current assets 677,320 440,064
Total assets less current liabilities 812,792 575,536
Creditors: amounts falling due after more than one year 5 (662,622) (662,622)
Net assets/(liabilities) attributable to members 150,170 (87,086)
Represented by:
Loans and other debts due to members 6 618,000 337,200
Members' other interests
Members' capital classified as equity 60 60
Other reserves (467,890) (424,346)
(467,830) (424,286)
150,170 (87,086)
Total members' interests
Loans and other debts due to members 6 618,000 337,200
Members' other interests (467,830) (424,286)
150,170 (87,086)
For the year ended 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 12 November 2024 and signed on their behalf by:
Meraj Alam
Designated member
ECP Investments LLP
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
3 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 1 0
2 Fixed asset investments
Other
investments
£
Cost
At 1 April 2023 135,472
At 31 March 2024 135,472
Historical cost
At 1 April 2023 135,472
At 31 March 2024 135,472
3 Debtors 2024 2023
£ £
Other debtors - Earlsfield Advisors LLP India 242,143 44,510
Other debtors 438,701 337,420
680,844 381,930
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 200
Other taxes and social security costs 1,029 -
Other creditors 3,554 -
4,583 200
5 Creditors: amounts falling due after one year 2024 2023
£ £
1st priority loans 600,002 600,002
Other creditors 62,620 62,620
662,622 662,622
6 Loans and other debts due to members 2024 2023
£ £
Loans from members 636,000 355,200
Amounts due to members in respect of profits (18,000) (18,000)
618,000 337,200
Amounts falling due within one year 618,000 337,200
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
7 Other information
ECP Investments LLP is a limited liability partnership incorporated in England. Its registered office is:
43 Berkeley Square
London
W1J 5AP
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