Silverfin false 31/03/2024 01/04/2023 31/03/2024 J R Curtis 04/05/2020 T E Curtis 04/05/2020 29 November 2024 OC431649 2024-03-31 OC431649 bus:Director1 2024-03-31 OC431649 bus:Director2 2024-03-31 OC431649 2023-03-31 OC431649 core:CurrentFinancialInstruments 2024-03-31 OC431649 core:CurrentFinancialInstruments 2023-03-31 OC431649 core:Non-currentFinancialInstruments 2024-03-31 OC431649 core:Non-currentFinancialInstruments 2023-03-31 OC431649 2023-04-01 2024-03-31 OC431649 bus:FullAccounts 2023-04-01 2024-03-31 OC431649 bus:SmallEntities 2023-04-01 2024-03-31 OC431649 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 OC431649 bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC431649 bus:Director1 2023-04-01 2024-03-31 OC431649 bus:Director2 2023-04-01 2024-03-31 OC431649 2022-04-01 2023-03-31 OC431649 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: OC431649 (England and Wales)

N17 H2I PORTFOLIO LLP

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

N17 H2I PORTFOLIO LLP

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

N17 H2I PORTFOLIO LLP

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
N17 H2I PORTFOLIO LLP

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 4,585,000 4,585,000
4,585,000 4,585,000
Current assets
Debtors 4 79,727 70,500
Cash at bank and in hand 77,269 116,236
156,996 186,736
Creditors: amounts falling due within one year 5 ( 571,743) ( 516,644)
Net current liabilities (414,747) (329,908)
Total assets less current liabilities 4,170,253 4,255,092
Creditors: amounts falling due after more than one year 6 ( 3,209,500) ( 3,209,500)
Net assets attributable to members 960,753 1,045,592
Represented by
Loans and other debts due to members within one year
Other amounts 494,037 578,876
494,037 578,876
Members' other interests
Members' capital classified as equity 12 12
Revaluation reserve 466,704 466,704
466,716 466,716
960,753 1,045,592
Total members' interests
Loans and other debts due to members 494,037 578,876
Members' other interests 466,716 466,716
960,753 1,045,592

For the financial year ending 31 March 2024 the LLP 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.

Members' responsibilities:

The financial statements of N17 H2I Portfolio LLP (registered number: OC431649) were approved and authorised for issue by the Board of Directors on 29 November 2024. They were signed on its behalf by:

J R Curtis
Designated member
N17 H2I PORTFOLIO LLP

RECONCILIATION OF MEMBERS' INTERESTS

For the financial year ended 31 March 2024
N17 H2I PORTFOLIO LLP

RECONCILIATION OF MEMBERS' INTERESTS (continued)

For the financial 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) Revaluation reserves Other reserves Total Other amounts Total
£ £ £ £ £ £
Amounts due to members 588,056
Balance at 01 April 2022 12 466,704 (2,349) 464,367 588,056 1,052,423
Members' remuneration charged as an expense, including employment and retirement benefit costs 0 0 0 0 32,199 32,199
Members' interest after result for the financial year 12 466,704 (2,349) 464,367 620,255 1,084,622
Division of result 0 0 2,349 2,349 (2,349) 0
Drawings 0 0 0 0 (39,030) (39,030)
Amounts due to members 578,876
Balance at 31 March 2023 12 466,704 0 466,716 578,876 1,045,592
Members' remuneration charged as an expense, including employment and retirement benefit costs 0 0 0 0 (70,350) (70,350)
Members' interest after result for the financial year 12 466,704 0 466,716 508,526 975,242
Drawings 0 0 0 0 (14,489) (14,489)
Amounts due to members 494,037
Balance at 31 March 2024 12 466,704 0 466,716 494,037 960,753

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

N17 H2I PORTFOLIO LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
N17 H2I PORTFOLIO LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

N17 H2I Portfolio LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Langley House, Park Road, London, N2 8EY, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the members, on an open market value for existing use basis.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the LLP during the year 5 5

3. Investment property

Investment property
£
Valuation
As at 01 April 2023 4,585,000
As at 31 March 2024 4,585,000

4. Debtors

2024 2023
£ £
Prepayments 9,227 0
Other debtors 70,500 70,500
79,727 70,500

5. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 571,743 516,644

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 3,209,500 3,209,500

There are no amounts included above in respect of which any security has been given by the small entity.