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Hout Bay LLP
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Notes to the financial statements
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for the year ended 31 October 2025
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1
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General information
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Hout Bay LLP is a limited liability partnership registered in England and Wales. Its registered number is OC439701. Its registered office is 7 Bell Yard, London, London, WC2A 2RJ.
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2
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Accounting policies
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Basis of preparing the financial statements
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These financial statements have been prepared in accordance with Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” including the provisions of Section 1A “Small Entities” and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships and the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. The financial statements have been prepared under the historic cost convention.
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Going concern
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In preparing these financial statements, the members have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the LLP’s ability to continue as a going concern. In making this assessment, the members take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
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The members consider that the LLP has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
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Turnover
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Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
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Investment property
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Investment property is shown at its most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
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Members' transactions with the LLP
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Profit shares are allocated to members based on the terms of the members’ agreement. Profit allocations that are automatically divided under the agreement are treated as an expense in the profit and loss account under "Members’ remuneration charged as an expense". Discretionary profits—where the LLP has an unconditional right to avoid delivering cash or other assets—are treated as unallocated profits within equity until a formal division decision is made
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3
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Average number of employees
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During the year the average number of employees was Nil (2024 - Nil).
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3
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