AVENIDA INVESTMENTS (REAL ESTATE) LLP

Company Registration Number:
OC422778 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2024

Period of accounts

Start date: 01 July 2023

End date: 30 June 2024

AVENIDA INVESTMENTS (REAL ESTATE) LLP

Contents of the Financial Statements

for the Period Ended 30 June 2024

Balance sheet
Notes

AVENIDA INVESTMENTS (REAL ESTATE) LLP

Balance sheet

As at 30 June 2024


Notes

2024

2023


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 209,000 294,000
Investments: 4 591,000 877,000
Total fixed assets: 800,000 1,171,000
Current assets
Stocks: 0 0
Debtors: 5 712,000 1,239,000
Cash at bank and in hand: 639,000 529,000
Investments:   0 0
Total current assets: 1,351,000 1,768,000
Creditors: amounts falling due within one year: 6 (277,000) (495,000)
Net current assets (liabilities): 1,074,000 1,273,000
Total assets less current liabilities: 1,874,000 2,444,000
Creditors: amounts falling due after more than one year:   (157,000) (236,000)
Provision for liabilities: (103,000) (83,000)
Total net assets (liabilities): 1,614,000 2,125,000
Capital and reserves
Called up share capital: 4,861,000 4,861,000
Share premium account: 0
Revaluation reserve: 00
Other reserves: (2,736,000) (2,628,000)
Profit and loss account: (511,000) (108,000)
Shareholders funds: 1,614,000 2,125,000

The notes form part of these financial statements

AVENIDA INVESTMENTS (REAL ESTATE) LLP

Balance sheet statements

For the year ending 30 June 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 26 June 2025
and signed on behalf of the board by:

Name: Andres Gomez
Status: Director

The notes form part of these financial statements

AVENIDA INVESTMENTS (REAL ESTATE) LLP

Notes to the Financial Statements

for the Period Ended 30 June 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

AVENIDA INVESTMENTS (REAL ESTATE) LLP

Notes to the Financial Statements

for the Period Ended 30 June 2024

2. Employees

2024 2023
Average number of employees during the period 18 27

AVENIDA INVESTMENTS (REAL ESTATE) LLP

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Tangible Assets

Total
Cost £
At 01 July 2023 642,000
Additions 0
Disposals 0
Revaluations 0
Transfers 0
At 30 June 2024 642,000
Depreciation
At 01 July 2023 348,000
Charge for year 118,000
On disposals 0
Other adjustments (33,000)
At 30 June 2024 433,000
Net book value
At 30 June 2024 209,000
At 30 June 2023 294,000

AVENIDA INVESTMENTS (REAL ESTATE) LLP

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Fixed investments

There were no movements in investments in subsidiaries held by the LLP during the year. Investments in subsidiaries are measured at cost less impairment. During fiscal year 2024, the majority interest of the Group was sold (note 22). The pricing incorporated a detailed analysis of the subsidiaries' cash-generating capability, which served as the basis for recognizing an impairment of $3,720. The financial statements consolidate the results and financial position of the Group, including all subsidiary undertakings, which are listed in note 21. Non-controlling interests in subsidiary undertakings The Group held a 16.7% non-controlling interest in Avenida Colombia Member LLC. The non-controlling interest profits attributable to the members of Avenida Colombia Member LLC are shown as non-controlling interests in the consolidated financial statements. Subsidiaries dissolved Ashmore Avenida Devco Holding Company Limited was dissolved on 26 of September 2023. In addition, Colombian subsidiaries Ashmore Avenida Back Office S.A.S., and Ashmore Avenida DP General Partner S.A.S., were dissolved in December 2023. The Group’s financial assets measured at fair value comprise seed capital investments in funds managed by subsidiary entities. Seed capital is contributed into a fund in order to provide initial scale and facilitate marketing of the funds to third-party investors. The Group has an established control framework with respect to the measurement of fair value. This framework includes committees that have overall responsibility for all significant fair value measurements. Each committee regularly reviews significant inputs and valuation adjustments. If third-party information is used to measure fair value, the committee assesses and documents the evidence obtained from the third parties to support such valuations. There are no material differences between the carrying amounts of financial assets and their fair values at the balance sheet date.

AVENIDA INVESTMENTS (REAL ESTATE) LLP

Notes to the Financial Statements

for the Period Ended 30 June 2024

5. Debtors

2024 2023
££
Debtors due after more than one year: 0 0

AVENIDA INVESTMENTS (REAL ESTATE) LLP

Notes to the Financial Statements

for the Period Ended 30 June 2024

6. Creditors: amounts falling due within one year note

Trade and other payables are measured at amortised cost, and are primarily related to amounts owed to funds and creditors for services received up to 30 June 2024.

AVENIDA INVESTMENTS (REAL ESTATE) LLP

Notes to the Financial Statements

for the Period Ended 30 June 2024

7. Financial commitments

The Group had undrawn seed capital commitments to two Avenida funds as follows: 2024 - 302,000 2023 - 315,000

AVENIDA INVESTMENTS (REAL ESTATE) LLP

Notes to the Financial Statements

for the Period Ended 30 June 2024

8. Related party transactions

Name of the related party: Launch 11 LLC
Relationship:
Key management compensation
Description of the Transaction: Key management personnel include one executive members of the Group who have authority and responsibility for planning, directing and controlling the activities of the Group.
£
Balance at 01 July 2023 0
Balance at 30 June 2024 0
Name of the related party: Avenida Colombia Real Estate Fund I, LLC, Avenida Colombia Real Estate Fund II, LP and Avenida Colombia PEF II compartimento B
Relationship:
Funds (3) Under Management
Description of the Transaction: As at 30 June 2024, the Group received US$2,3 million (2023: US$2.5 million) of gross management fees from the 3 funds it manages and which are classified as related parties. As at 30 June 2023, the Group had receivables due from funds of US$158,000 (30 June 2022: US$168,000).
£
Balance at 01 July 2023 132,000
Balance at 30 June 2024 125,000

Group transactions with subsidiaries of Ashmore Group plc The Group has an arrangement to receive certain administrative support services from Ashmore Group plc and its subsidiaries. During the year, total services worth $65,000 were received from Ashmore Group plc in relation to the middle office and IT services. As at 30 June 2024 the Group recognised amounts due to other group subsidiaries in relation to these services totalling $20,000.

AVENIDA INVESTMENTS (REAL ESTATE) LLP

Notes to the Financial Statements

for the Period Ended 30 June 2024

9. Post balance sheet events

The Company's previous office was delivered on 26 July 2024. During the same month, the LLP signed a new lease agreement and moved into the new office on 20 August 2024.