REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 5 April 2024 |
for |
Hungerford Investments LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 5 April 2024 |
for |
Hungerford Investments LLP |
Hungerford Investments LLP (Registered number: OC300846) |
Contents of the Financial Statements |
for the Year Ended 5 April 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 4 |
Hungerford Investments LLP (Registered number: OC300846) |
Balance Sheet |
5 April 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
Current assets |
Debtors | 7 |
Cash at bank |
Creditors |
Amounts falling due within one year | 8 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
9 |
Net assets attributable to members | 4,250,479 | 6,380,103 |
Hungerford Investments LLP (Registered number: OC300846) |
Balance Sheet - continued |
5 April 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Loans and other debts due to members | 11 | 581,209 | 1,233,269 |
Members' other interests |
Capital accounts | 131,055 | 131,055 |
Revaluation reserve | 12 |
4,250,479 | 6,380,103 |
Total members' interests |
Loans and other debts due to members | 11 | 581,209 | 1,233,269 |
Members' other interests | 3,669,270 | 5,146,834 |
Amounts due from members | 7 | (65,960 | ) | (10,278 | ) |
4,184,519 | 6,369,825 |
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. |
Hungerford Investments LLP (Registered number: OC300846) |
Balance Sheet - continued |
5 April 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
Hungerford Investments LLP (Registered number: OC300846) |
Notes to the Financial Statements |
for the Year Ended 5 April 2024 |
1. | Statutory information |
Hungerford Investments LLP is registered in England and Wales. The LLP's registered number and registered office address are as below: |
Registered number: |
Registered office: |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover represents amounts receivable for the sale of properties, consultancy fees and rental income net of VAT. |
Tangible fixed assets |
Fixtures and fittings | - |
Investment property |
Investment properties are valued by the designated members on an open market value basis. Depreciation is not provided on these investment properties, apart from fixtures and fittings (see below). |
Fixed asset investments |
Fixed asset investments are stated at their value with any gain or loss taken to the revaluation reserve. |
Taxation |
The LLP is not liable for taxation as tax is the individual responsibility of members. Accordingly no provision is made for tax or deferred taxation. |
3. | Employee information |
The average number of employees during the year was NIL (2023 - NIL). |
Hungerford Investments LLP (Registered number: OC300846) |
Notes to the Financial Statements - continued |
for the Year Ended 5 April 2024 |
4. | Tangible fixed assets |
Fixtures |
and |
fittings |
£ |
Cost |
At 6 April 2023 |
and 5 April 2024 |
Depreciation |
At 6 April 2023 |
and 5 April 2024 |
Net book value |
At 5 April 2024 |
At 5 April 2023 |
5. | Fixed asset investments |
Unlisted |
investment |
£ |
Cost or valuation |
At 6 April 2023 |
Revaluations | ( |
) |
At 5 April 2024 |
Net book value |
At 5 April 2024 |
At 5 April 2023 |
Cost or valuation at 5 April 2024 is represented by: |
Unlisted |
investment |
£ |
Valuation in 2024 | (250,000 | ) |
Valuation in 2023 | (1,000,000 | ) |
Valuation in 2017 | 2,500,000 |
Cost | 2,000,000 |
3,250,000 |
Hungerford Investments LLP (Registered number: OC300846) |
Notes to the Financial Statements - continued |
for the Year Ended 5 April 2024 |
6. | Investment property |
The investment property was valued on an open market basis by RJ Grievson, a designated member, at 5 April 2023 based on valuations prepared by independent third parties. |
Fair value at 5 April 2024 is represented by: |
£ |
Valuation in 2024 | (405,000 | ) |
Valuation in 2023 | (210,552 | ) |
Valuation in 2022 | (17,877 | ) |
Valuation in 2015 | 257,746 |
Valuation in 2014 | 985,449 |
Valuation in 2013 | 122,933 |
Valuation in 2012 | 631,162 |
Valuation in 2011 | 379,939 |
Valuation in 2010 | 544,415 |
Cost | 2,431,785 |
4,720,000 |
7. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Amounts owed by associates |
Amounts due from members | 65,960 | 10,278 |
Other debtors |
VAT |
Prepayments |
8. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Amounts owed to associates | 1,164,708 | 1,245,448 |
Other creditors |
Accrued expenses |
9. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Bank loans due after 5 years | 2,000,000 | 2,000,000 |
Hungerford Investments LLP (Registered number: OC300846) |
Notes to the Financial Statements - continued |
for the Year Ended 5 April 2024 |
9. | Creditors: amounts falling due after more than one year - continued |
2024 | 2023 |
£ | £ |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans due after 5 years |
10. | Secured debts |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
The loan is secured by a mortgage debenture over the assets of the LLP. |
11. | Loans and other debts due to members |
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up. |
12. | Reserves |
Revaluatio |
reserve |
£ |
At 6 April 2023 |
Revaluation in the period | ( |
) |
Realised in the period | (822,564 | ) |
At 5 April 2024 |
13. | Related party disclosures |
Southern Properties (London) Limited FURBS |
CP Barrow, RJ Grievson and RJ Nevill are beneficiaries |
2024 | 2023 |
£ | £ |
Amount due to related party at the balance sheet date | 79,718 | 79,718 |
Hungerford Investments LLP (Registered number: OC300846) |
Notes to the Financial Statements - continued |
for the Year Ended 5 April 2024 |
13. | Related party disclosures - continued |
Hungerford Management Limited |
A company in which the designated members all have an interest. |
2024 | 2023 |
£ | £ |
Amount due to related party at the balance sheet date | 51,048 | 132,048 |
Southern Management Limited |
A company in which the designated members all have an interest |
2024 | 2023 |
£ | £ |
Amount due to related party at the balance sheet date | 882,135 | 882,135 |
Risehill Limited |
A company in which the designated members all have an interest |
The LLP paid rent collection fees of £3,766 (2023 - £7,499) to the related party. |
2024 | 2023 |
£ | £ |
Amount due to related party at the balance sheet date | 151,626 | 151,295 |
14. | Ultimate controlling party |
There is no ultimate controlling party. |