Flash Investments LLP OC369011 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is that of investing, holding and disposing of or encumbering in any manner shares or other investments or interest in other companies, partnerships and any other legal entities carrying on business outside the United Kingdom. Digita Accounts Production Advanced 6.30.9574.0 true OC369011 2023-05-01 2024-04-30 OC369011 2024-04-30 OC369011 core:WithinOneYear 2024-04-30 OC369011 bus:SmallEntities 2023-05-01 2024-04-30 OC369011 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 OC369011 bus:FilletedAccounts 2023-05-01 2024-04-30 OC369011 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 OC369011 bus:RegisteredOffice 2023-05-01 2024-04-30 OC369011 bus:PartnerLLP1 2023-05-01 2024-04-30 OC369011 bus:PartnerLLP3 2023-05-01 2024-04-30 OC369011 bus:LimitedLiabilityPartnershipLLP 2023-05-01 2024-04-30 OC369011 countries:AllCountries 2023-05-01 2024-04-30 OC369011 2022-05-01 2023-04-30 OC369011 2023-04-30 OC369011 core:WithinOneYear 2023-04-30 xbrli:pure iso4217:USD

Registration number: OC369011

Flash Investments LLP

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Flash Investments LLP

Contents

Limited liability partnership information

1

Financial Statements

2 to 5

Balance Sheet

2

Notes to the Financial Statements

3

 

Flash Investments LLP

Limited liability partnership information

Designated members

Somerset Nominees Limited

Donald Peter Graber
 

Registered office

Unit 12
Old Mills Industrial Estate
Paulton
Bristol
BS39 7SU

Accountants

Fuller & Roper Limited
Unit 12 Old Mills Industrial Estate
Paulton
Bristol
BS39 7SU

 

Flash Investments LLP

(Registration number: OC369011)
Balance Sheet as at 30 April 2024

Note

2024
 $

2023
 $

Fixed assets

 

Investments

3

21,973,018

18,039,356

Current assets

 

Cash and short-term deposits

 

2,865

2,864

Creditors: Amounts falling due within one year

4

-

(73,000)

Net current assets/(liabilities)

 

2,865

(70,136)

Net assets attributable to members

 

21,975,883

17,969,220

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

2,200,001

2,200,001

Other amounts

5

19,775,882

15,769,219

 

21,975,883

17,969,220

   

21,975,883

17,969,220

Total members' interests

 

Loans and other debts due to members

 

21,975,883

17,969,220

   

21,975,883

17,969,220

For the year ending 30 April 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 and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime. 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.

The financial statements of Flash Investments LLP (registered number OC369011) were approved by the Board and authorised for issue on 11 April 2025. They were signed on behalf of the limited liability partnership by:

.........................................
Somerset Nominees Limited
Designated member

   
 

Flash Investments LLP

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

1

Accounting policies

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in US Dollars which is the functional currency of the LLP and rounded to the nearest $1.

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the inancial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members. The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

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.

Fixed asset investments

Fixed asset investments are revalued at market value at the balance sheet date. Any change in value is taken to the profit and loss account.

 

Flash Investments LLP

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

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.

2

Particulars of employees

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

3

Investments held as fixed assets

2024
$

2023
$

Other investments

21,973,018

18,039,356

Other investments

Other investments
$

Total
$

Cost

At 1 May 2023

18,039,356

18,039,356

Revaluation

3,933,662

3,933,662

At 30 April 2024

21,973,018

21,973,018

Net book value

At 30 April 2024

21,973,018

21,973,018

At 30 April 2023

18,039,356

18,039,356

4

Creditors: Amounts falling due within one year

2024
 $

2023
 $

Other creditors

-

73,000

 

Flash Investments LLP

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

5

Analysis of other amounts

2024
$

2023
$

Money advanced to the LLP by the members by way of loan

73,000

-

Money owed to members by the LLP in respect of profits

19,702,882

15,769,219

19,775,882

15,769,219

In the event of winding up, amounts in ‘Loans and other debts due to members’ would rank after other creditors who are unsecured.

There are no such restrictions or limitations existing on the ability of the members to reduce the amount of ‘Members’ other interests'.
 

6

Control

The ultimate controlling party is considered to be Mr Donald Peter Graber.