Company No:
Contents
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investments | 3 |
|
|
|
| 3,583,643 | 1,221,841 | |||
| Current assets | ||||
| Debtors | 4 |
|
|
|
| Cash at bank and in hand |
|
|
||
| 26,244,546 | 20,519,421 | |||
| Creditors: amounts falling due within one year | 5 | (
|
(
|
|
| Net current assets | 12,408,137 | 6,119,626 | ||
| Total assets less current liabilities | 15,991,780 | 7,341,467 | ||
| Net assets attributable to members |
|
|
||
| Represented by | ||||
| Loans and other debts due to members within one year | ||||
| Members' capital classified as a liability | 6 | 10 | 10 | |
| Other amounts | 15,991,770 | 7,416,637 | ||
| 15,991,780 | 7,416,647 | |||
| Members' other interests | ||||
| Other reserves | 0 | (75,180) | ||
| 0 | (75,180) | |||
| 15,991,780 | 7,341,467 | |||
| Total members' interests | ||||
| Amounts due from members (included in debtors) | (4,995) | (132,937) | ||
| Loans and other debts due to members | 15,991,780 | 7,416,647 | ||
| Members' other interests | 0 | (75,180) | ||
| 15,986,785 | 7,208,530 |
Fusion Global Investments LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.
Members' responsibilities:
The financial statements of Fusion Global Investments LLP (registered number:
|
A Cohen on behalf of
Hayden Investment Limited |
| EQUITY Members' other interests |
DEBT Loans and other debts due to members less any amounts due from members in debtors |
Total members' interests | |||
|---|---|---|---|---|---|
| Other reserves | Members' capital (classified as debt) | Other amounts | Total | Total | |
| £ | £ | £ | £ | £ | |
| Amounts due to members | 10 | 7,416,637 | 7,416,647 | ||
| Amounts due from members | (132,937) | (132,937) | |||
| Balance at 01 September 2022 | 0 | 10 | 7,283,700 | 7,283,710 | 7,283,710 |
| Loss for the financial year available for discretionary division among members | (75,180) | 0 | 0 | 0 | (75,180) |
| Members' interest after loss for the financial year | (75,180) | 10 | 7,283,700 | 7,283,710 | 7,208,530 |
| Amounts due to members | 10 | 7,416,637 | 7,416,647 | ||
| Amounts due from members | (132,937) | (132,937) | |||
| Balance at 31 August 2023 | (75,180) | 10 | 7,283,700 | 7,283,710 | 7,208,530 |
| Members' remuneration charged as an expense, including employment and retirement benefit costs | 0 | 0 | 10,932,010 | 10,932,010 | 10,932,010 |
| Profit for the financial year available for discretionary division among members | 75,180 | 0 | 0 | 0 | 75,180 |
| Members' interest after profit for the financial year | 0 | 10 | 18,215,710 | 18,215,720 | 18,215,720 |
| Drawings | 0 | 0 | (16,323,295) | (16,323,295) | (16,323,295) |
| Introduced by members | 0 | 0 | 14,094,360 | 14,094,360 | 14,094,360 |
| Amounts due to members | 10 | 15,991,770 | 15,991,780 | ||
| Amounts due from members | (4,995) | (4,995) | |||
| Balance at 31 August 2024 | 0 | 10 | 15,986,775 | 15,986,785 | 15,986,785 |
There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Fusion Global Investments LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.
The principal activity of the LLP during the financial year was that of property investment through its investment in subsidiary companies and LLPs.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
The Company only enters into basic financial instruments and 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, loans to and from related parties and investments in non-puttable ordinary shares.
Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.
Financial assets and liabilities are offset and 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.
Associates and Joint Ventures are held at cost less impairment.
| 2024 | 2023 | ||
| Number | Number | ||
| The entity has no employees. |
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| 2024 | 2023 | ||
| £ | £ | ||
| Subsidiary undertakings |
|
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| Participating interests |
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| 3,583,643 | 1,221,841 |
Investments in subsidiaries
| 2024 | |
| £ | |
| Cost | |
| At 01 September 2023 |
|
| At 31 August 2024 |
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| Carrying value at 31 August 2024 |
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| Carrying value at 31 August 2023 |
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| Investments in associates | Total | ||
| £ | £ | ||
| Cost or valuation before impairment | |||
| At 01 September 2023 |
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| Additions |
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| At 31 August 2024 |
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| Carrying value at 31 August 2024 |
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| Carrying value at 31 August 2023 |
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| 2024 | 2023 | ||
| £ | £ | ||
| Amounts owed by Group undertakings |
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| Amounts owed by members |
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| Other debtors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Trade creditors |
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| Amounts owed to Group undertakings |
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| Accruals |
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| Other creditors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Members' capital treated as debt | (10) | (10) | |
| Other amounts due to members | (15,991,770) | (7,416,637) | |
| (15,991,780) | (7,416,647) |
Loans and other debts due to members may be further analysed as follows:
| 2024 | 2023 | ||
| £ | £ | ||
| Falling due within one year | (15,991,770) | (7,416,637) |
Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.