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Company No: OC369262 (England and Wales)

FUSION GLOBAL INVESTMENTS LLP

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

FUSION GLOBAL INVESTMENTS LLP

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

FUSION GLOBAL INVESTMENTS LLP

STATEMENT OF FINANCIAL POSITION

As at 31 August 2024
FUSION GLOBAL INVESTMENTS LLP

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 3,583,643 1,221,841
3,583,643 1,221,841
Current assets
Debtors 4 25,015,698 20,518,662
Cash at bank and in hand 1,228,848 759
26,244,546 20,519,421
Creditors: amounts falling due within one year 5 ( 13,836,409) ( 14,399,795)
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 15,991,780 7,341,467
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.

For the financial year ending 31 August 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.

Members' responsibilities:

The financial statements of Fusion Global Investments LLP (registered number: OC369262) were approved and authorised for issue by the Board of Directors on 21 May 2025. They were signed on its behalf by:

A Cohen on behalf of
Hayden Investment Limited
FUSION GLOBAL INVESTMENTS LLP

RECONCILIATION OF MEMBERS' INTERESTS

For the financial year ended 31 August 2024
FUSION GLOBAL INVESTMENTS LLP

RECONCILIATION OF MEMBERS' INTERESTS (continued)

For the financial year ended 31 August 2024
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

FUSION GLOBAL INVESTMENTS LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
FUSION GLOBAL INVESTMENTS LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

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.

General information and basis of accounting

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

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Fixed asset investments

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.

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 creditors: amounts falling due within one year.

Financial instruments

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

Associates and Joint Ventures are held at cost less impairment.

2. Employees

2024 2023
Number Number
The entity has no employees. 0 0

3. Fixed asset investments

2024 2023
£ £
Subsidiary undertakings 112 112
Participating interests 3,583,531 1,221,729
3,583,643 1,221,841

Investments in subsidiaries

2024
£
Cost
At 01 September 2023 112
At 31 August 2024 112
Carrying value at 31 August 2024 112
Carrying value at 31 August 2023 112

Investments in associates Total
£ £
Cost or valuation before impairment
At 01 September 2023 1,221,729 1,221,729
Additions 2,361,802 2,361,802
At 31 August 2024 3,583,531 3,583,531
Carrying value at 31 August 2024 3,583,531 3,583,531
Carrying value at 31 August 2023 1,221,729 1,221,729

4. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 23,550,020 20,361,703
Amounts owed by members 4,995 132,937
Other debtors 1,460,683 24,022
25,015,698 20,518,662

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 3,600 3,420
Amounts owed to Group undertakings 13,427,025 14,042,427
Accruals 174,556 174,556
Other creditors 231,228 179,392
13,836,409 14,399,795

6. Loans and other debts due to members

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.