IRIS Accounts Production v24.3.2.46 OC437908 designated member designated member 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC4379082023-03-31OC4379082024-03-31OC4379082023-04-012024-03-31OC4379082022-06-30OC4379082022-07-012023-03-31OC4379082023-03-31OC437908ns15:EnglandWales2023-04-012024-03-31OC437908ns14:PoundSterling2023-04-012024-03-31OC437908ns10:PartnerLLP12023-04-012024-03-31OC437908ns10:PartnerLLP22023-04-012024-03-31OC437908ns10:LimitedLiabilityPartnershipLLP2023-04-012024-03-31OC437908ns10:SmallEntities2023-04-012024-03-31OC437908ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-31OC437908ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31OC437908ns10:LimitedLiabilityPartnershipsSORP2023-04-012024-03-31OC437908ns10:FullAccounts2023-04-012024-03-31OC437908ns10:RegisteredOffice2023-04-012024-03-31OC437908ns5:CurrentFinancialInstruments2024-03-31OC437908ns5:CurrentFinancialInstruments2023-03-31OC437908ns5:ComputerEquipment2023-04-012024-03-31OC437908ns5:ComputerEquipment2024-03-31OC437908ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-31OC437908ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-31
REGISTERED NUMBER: OC437908 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Rai Investment Group LLP

Rai Investment Group LLP (Registered number: OC437908)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Rai Investment Group LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: Parveen Kaur Rai
Jatinder Singh Rai





REGISTERED OFFICE: 70 Upper Holly Walk
Leamington Spa
Warwickshire
England
CV32 4JL





REGISTERED NUMBER: OC437908 (England and Wales)





ACCOUNTANTS: SKS Justa & Co Ltd
Justa House
206-208 Holbrook Lane
Coventry
CV6 4DD

Rai Investment Group LLP (Registered number: OC437908)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,966 -
Investment property 5 6,819,100 6,889,400
6,821,066 6,889,400

CURRENT ASSETS
Debtors 6 211,258 97,072
Cash at bank 84,071 104,349
295,329 201,421
CREDITORS
Amounts falling due within one year 7 (1,261 ) (2,472 )
NET CURRENT ASSETS 294,068 198,949
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

7,115,134

7,088,349

Rai Investment Group LLP (Registered number: OC437908)

Balance Sheet - continued
31 March 2024

2024 2023
Notes £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

26,785

-

MEMBERS' OTHER INTERESTS
Capital accounts 7,088,349 7,088,349
7,115,134 7,088,349

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 26,785 -
Members' other interests 7,088,349 7,088,349
Amounts due from members 6 (188,455 ) (97,072 )
6,926,679 6,991,277

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2024.

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.

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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 5 March 2025 and were signed by:





Parveen Kaur Rai - Designated member

Rai Investment Group LLP (Registered number: OC437908)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Rai Investment Group LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of consideration received or receivable excluding discounts, rebates for the services provided in the normal course of business.

TANGIBLE FIXED ASSET
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less residual values over the useful life on the following basis:

Fixtures and fittings 20% WDV
Computer Equipment 15% WDV.
Investment property 1% SLM

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

INVESTMENT PROPERTY
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less residual values over the useful life on the following basis:

Investment properties 1% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Rai Investment Group LLP (Registered number: OC437908)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

CASH AND CASH EQUIVALENTS
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements ,when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

BASIC FINANCIAL ASSETS
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

CLASSIFICATION OF 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 company after deducting all of its liabilities.

BASIC FINANCIAL LIABILITIES
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Rai Investment Group LLP (Registered number: OC437908)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

EQUITY INSTRUMENTS
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
In the application of the limited liability partnership’s accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

MEMBERS' PARTICIPATING INTERESTS
Members' participation rights are the rights of a member against the LLP that arise under the m embers' 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. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

Profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment and the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense and presented as members remuneration charged as an expense in arriving at the result for the relevant year. To the extent that they remain unpaid at the period end, they are shown as liabilities.

Losses are automatically divided as they arise giving the LLP the right to seek payment from members. Therefore they are presented within members’ remuneration charged as an expense and, to the extent they remain unpaid and are considered recoverable, shown as debtors in the Statement of Financial position and as amounts due from members within members’ interests.] [Losses are divided only after a decision by the LLP or its representative and therefore remain in equity until such a decision is made.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 4 (2023 - 4 ) .

Rai Investment Group LLP (Registered number: OC437908)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 2,010
At 31 March 2024 2,010
DEPRECIATION
Charge for year 44
At 31 March 2024 44
NET BOOK VALUE
At 31 March 2024 1,966

5. INVESTMENT PROPERTY
Total
£   
COST
At 1 April 2023
and 31 March 2024 7,030,000
DEPRECIATION
At 1 April 2023 140,600
Charge for year 70,300
At 31 March 2024 210,900
NET BOOK VALUE
At 31 March 2024 6,819,100
At 31 March 2023 6,889,400

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 211,258 97,072

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 1,261 2,472

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members rank ahead of other creditors in a liquidation.