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Registration number: OC414269

Hayrish Partners LLP

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Hayrish Partners LLP

Members' Report for the Year Ended 30 June 2024

The members present their report and the unaudited financial statements for the year ended 30 June 2024.

Designated members

The members who held office during the year were as follows:

Elliott Associates L.P.

Poseidon (Europe) Investments LLC

Members' drawings and the subscription and repayment of members' capital

The members are entitled to draw monthly, on account of profit, such sums as may from time to time be mutually agreed.

The capital requisite for carrying on the business of the LLP shall be agreed and contributed by the members from time to time. The total amount of and the relating contributions of the members to the fixed capital of the LLP shall be in the shares in which they are entitled to the net profits of the LLP. Partners moving up in relative profit sharing will contribute the relevant proportion of additional capital before being entitled to more shares.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, as applied to limited liability partnerships.

Approved by the Board on 27 March 2025 and signed on its behalf by:

.........................................
Elliott Associates L.P.
By: Elliott Investment Management L.P., as
attorney-in-fact
Designated member

 

Hayrish Partners LLP

(Registration number: OC414269)
Balance Sheet as at 30 June 2024

Note

2024
 € 000

2023
 € 000

Fixed assets

 

Investments

4

150,057

137,252

Current assets

 

Debtors

5

63,131

59,904

Cash and short-term deposits

 

378

4,510

 

63,509

64,414

Creditors: Amounts falling due within one year

6

(143)

(140)

Net current assets

 

63,366

64,274

Total assets less current liabilities

 

213,423

201,526

Creditors: Amounts falling due after more than one year

7

(63,166)

(59,938)

Net assets attributable to members

 

150,257

141,588

Represented by:

 

Members’ other interests

 

Members' capital classified as equity

 

86,924

104,476

Other reserves

 

63,333

37,112

 

150,257

141,588

   

150,257

141,588

Total members' interests

 

Amounts due from members

 

(63,131)

(59,904)

Equity

 

150,257

141,588

   

87,126

81,684

For the year ending 30 June 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

 

Hayrish Partners LLP

(Registration number: OC414269)
Balance Sheet as at 30 June 2024

The financial statements of Hayrish Partners LLP (registered number OC414269) were approved by the Board and authorised for issue on 27 March 2025. They were signed on behalf of the limited liability partnership by:

.........................................
Elliott Associates L.P.
Designated member

 

Hayrish Partners LLP

Statement of Changes in Members’ Interests
At 30 June 2024

 

Equity

   

Members' capital
€ 000

Other reserves
€ 000

Total equity
€ 000

Total
2024
 € 000

Members' interest at 1 July 2023

104,476

37,112

141,588

141,588

Profit for the financial year available for discretionary division among members

-

11,005

11,005

11,005

Members' interests after total comprehensive income

104,476

48,117

152,593

152,593

Allocated (losses)/profits in respect of the prior year

(15,216)

15,216

-

-

Members’ capital introduced

4,150

-

4,150

4,150

Drawings (including tax payments)

(6,486)

-

(6,486)

(6,486)

At 30 June 2024

86,924

63,333

150,257

150,257

 

Hayrish Partners LLP

Statement of Changes in Members’ Interests
At 30 June 2024

 

Equity

   

Members' capital
€ 000

Other reserves
€ 000

Total equity
€ 000

Total
2023
 € 000

Members' interest at 1 July 2022

90,969

97,458

188,427

188,427

Loss for the financial year available for discretionary division among members

-

(15,216)

(15,216)

(15,216)

Members' interests after total comprehensive income

90,969

82,242

173,211

173,211

Allocated profits/(losses) in respect of the prior year

45,130

(45,130)

-

-

Members’ capital introduced

2,832

-

2,832

2,832

Drawings (including tax payments)

(34,455)

-

(34,455)

(34,455)

At 30 June 2023

104,476

37,112

141,588

141,588

 

Hayrish Partners LLP

Notes to the Financial Statements for the Year Ended 30 June 2024

1

General information

Hayrish Partners LLP (LLP number:OC414269) is a limited liability partnership incorporated in England and Wales. Its registered office is Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY.

The financial statements have been prepared under the historical cost convention in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006 and in accordance with the Statement of Recommended Practice ‘Accounting for Limited Liability Partnerships’ issued in December 2018.

The presentation currency of the financial statements is the Euros (€).


Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

2

Accounting policies

Going concern

The financial statements have been prepared on a going concern basis.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Fixed asset investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Hayrish Partners LLP

Notes to the Financial Statements for the Year Ended 30 June 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

Financial instruments

The LLP only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 0 (2023 - 0).

 

Hayrish Partners LLP

Notes to the Financial Statements for the Year Ended 30 June 2024

4

Investments held as fixed assets

2024
€ 000

2023
€ 000

Other investments

150,057

137,252

Other investments

Unlisted investments
€ 000

Total
€ 000

Cost

At 1 July 2023

137,252

137,252

Revaluation

11,501

11,501

Additions

3,234

3,234

Disposals

(1,930)

(1,930)

At 30 June 2024

150,057

150,057

Net book value

At 30 June 2024

150,057

150,057

At 30 June 2023

137,252

137,252

 

Hayrish Partners LLP

Notes to the Financial Statements for the Year Ended 30 June 2024

5

Debtors

2024
€ 000

2023
€ 000

Other debtors

63,131

59,904

Total current trade and other debtors

63,131

59,904

6

Creditors: Amounts falling due within one year

2024
€ 000

2023
€ 000

Accruals and deferred income

143

140

7

Creditors: Amounts falling due after more than one year

2024
€ 000

2023
€ 000

Other creditors

63,166

59,938

8

Financial instruments

Categorisation of financial instruments

2024
 € 000

2023
 € 000

Investments

150,057

137,252

Financial assets measured at fair value

Investment Fund
The investments held are unlisted. The basis of fair value is equivalent to the market value.

The fair value is €150,057,429 (2023 - €137,252,257) and the change in value included in profit or loss is €11,501,444 (2023 - (€14,436,657)).

9

Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the Elliott investors, Poseidon Investments (Europe) LLC and Elliott Associates L.P. by virtue of their share of the voting rights.