Henley Property Investments (USA) LLP Filleted accounts for Companies House (small and micro)

HENLEY PROPERTY INVESTMENTS (USA) LLP - Company Information

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REGISTERED NUMBER: OC400489

Henley Property Investments (USA) LLP

Filleted Unaudited Financial Statements

31 March 2018

Henley Property Investments (USA) LLP

Statement of Financial Position

31 March 2018

	2018	2017
Note	£	£

Fixed assets

Investments	4	3,449,780	3,249,182

Creditors: amounts falling due within one year	5	3,451,820	3,250,422
		------------	------------
Net current liabilities		3,451,820	3,250,422
		------------	------------
Total assets less current liabilities		( 2,040)	( 1,240)
		-------	-------
Net liabilities		( 2,040)	( 1,240)
		-------	-------

Represented by:

Loans and other debts due to members

Other amounts	–	–

Members' other interests

Other reserves	(2,040)	(1,240)
	-------	-------
	(2,040)	(1,240)
	-------	-------

Total members' interests

Loans and other debts due to members	–	–
Members' other interests	(2,040)	(1,240)
	-------	-------
	(2,040)	(1,240)
	-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.

For the year ending 31 March 2018 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) relating to small LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .

Henley Property Investments (USA) LLP

Statement of Financial Position (continued)

31 March 2018

These financial statements were approved by the members and authorised for issue on 20 December 2018 , and are signed on their behalf by:

Stuart Savidge (Rep of Henley Property Investments (UK) LLP)	Andrew J Brandon (Rep. HPI (UK) LLP)
Designated Member	Designated Member

Registered number: OC400489

Henley Property Investments (USA) LLP

Notes to the Financial Statements

Year ended 31 March 2018

1.	General information

The principal activity of the company during the year was investing directly or indirectly in commercial and residential real states. The LLP is registered in England and Wales. The address of the registered office is 1 Christchurch Way, Woking, Surrey, GU21 6JG, United Kingdom .

2.	Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in January 2017 (SORP 2017).

3.	Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements does not require management to make judgements, estimates and assumptions that affect the amounts reported .

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4.	Investments

	Loans to group undertakings
	£
Cost
At 1 April 2017	3,249,182
Other movements	200,598
	------------
At 31 March 2018	3,449,780
	------------
Impairment
At 1 April 2017 and 31 March 2018	–
	------------

Carrying amount
At 31 March 2018	3,449,780
	------------
At 31 March 2017	3,249,182
	------------

5. Creditors: amounts falling due within one year

	2018	2017
	£	£
Amounts owed to group undertakings and undertakings in which the LLP has a participating interest	3,450,270	3,249,672
Other creditors	1,550	750
	------------	------------
	3,451,820	3,250,422
	------------	------------

6.	Related party transactions

HPI(USA)LLP owes £3,450,269 to HPI(UK)LLP which is a related party of the entity.