0 false false false false false false false false false false false false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 344,129 344,129 344,129 xbrli:pure xbrli:shares iso4217:GBP OC414652 2023-04-01 2024-03-31 OC414652 2024-03-31 OC414652 2023-03-31 OC414652 2022-04-01 2023-03-31 OC414652 2023-03-31 OC414652 2022-03-31 OC414652 bus:Director1 2023-04-01 2024-03-31 OC414652 core:AfterOneYear 2024-03-31 OC414652 core:AfterOneYear 2023-03-31 OC414652 core:WithinOneYear 2024-03-31 OC414652 core:WithinOneYear 2023-03-31 OC414652 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 OC414652 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 OC414652 bus:SmallEntities 2023-04-01 2024-03-31 OC414652 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 OC414652 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC414652 bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC414652 bus:FullAccounts 2023-04-01 2024-03-31
REGISTERED NUMBER: OC414652
JAMES HOBDEN INVESTMENTS LLP
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
JAMES HOBDEN INVESTMENTS LLP
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
344,129
344,129
Creditors: amounts falling due within one year
5
1,800
2,360
-------
-------
Net current liabilities
1,800
2,360
----------
----------
Total assets less current liabilities
342,329
341,769
Creditors: amounts falling due after more than one year
6
223,318
223,318
----------
----------
Net assets
119,011
118,451
----------
----------
Represented by:
Loans and other debts due to members
Other amounts
7
23,339
17,471
Members' other interests
Members' capital classified as equity
95,672
100,980
Other reserves
----------
----------
119,011
118,451
----------
----------
Total members' interests
Loans and other debts due to members
7
23,339
17,471
Members' other interests
95,672
100,980
----------
----------
119,011
118,451
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.
For the 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) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .
JAMES HOBDEN INVESTMENTS LLP
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the members and authorised for issue on 24 January 2025 , and are signed on their behalf by:
Mr J Hobden
Designated Member
Registered number: OC414652
JAMES HOBDEN INVESTMENTS LLP
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1.
General information
The LLP is registered in England and Wales. The address of the registered office is First Floor South, Haversham House, 18-22 Boundary Road, Hove, East Sussex, BN3 4EF.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
No material uncertainties that may cast significant doubt about the ability of the LLP to continue as a going concern have been identified by the members.
Revenue recognition
Turnover represents proceeds from property rental income receivable.
Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the income statement and are equity appropriations in the Statement of financial position.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Where the directors are able, investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the LLP are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction. Debt instruments are subsequently measured at amortised cost.
4.
Tangible assets
Freehold property
£
Cost
At 1 April 2023 and 31 March 2024
344,129
----------
Depreciation
At 1 April 2023 and 31 March 2024
----------
Carrying amount
At 31 March 2024
344,129
----------
At 31 March 2023
344,129
----------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
1,800
2,360
-------
-------
6. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
223,318
223,318
----------
----------
The amounts included within bank loans and overdrafts are long term finance mortgages secured against the properties help within fixed assets. The finance mortgages are interest only mortgages. The capital is repayable by the LLP by July 2041.
7.
Loans and other debts due to members
2024
2023
£
£
Amounts owed to members in respect of profits
23,339
17,471
---------
---------