CHARLES II REALISATION LLP

• ⚠

  Material uncertainty over going concern

  The LLP was remunerated from the profits of InfraRed Partners LLP for the services provided by the Members. On 1 July 2024 the LLP exercised its option to sell its remaining investment in InfraRed Partners LLP to Sun Life Financial Inc which completed on 22 August 2024. From 22 August 2024, the LLP will no longer receive any income from Infrared Partners, but will receive interest income on deposits. It will continue in existence for a number of years to distribute deferred consideration to members, before ceasing trading. Consequently, the Company has not prepared these financial statements on a going concern basis. There have been no changes to the amounts recognised in the financial statements as a result of this change.

1. CHARLES II REALISATION LLP 2020-07-04 → present
2. INFRARED CAPITAL PARTNERS (MANAGEMENT) LLP 2010-12-15 → 2020-07-04
3. HACKREMCO (NO. 1) LLP 2010-11-17 → 2010-12-15

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The LLP was remunerated from the profits of InfraRed Partners LLP for the services provided by the Members. On 1 July 2024 the LLP exercised its option to sell its remaining investment in InfraRed Partners LLP to Sun Life Financial Inc which completed on 22 August 2024. From 22 August 2024, the LLP will no longer receive any income from Infrared Partners, but will receive interest income on deposits. It will continue in existence for a number of years to distribute deferred consideration to members, before ceasing trading. Consequently, the Company has not prepared these financial statements on a going concern basis. There have been no changes to the amounts recognised in the financial statements as a result of this change.”

Group structure

1. CHARLES II REALISATION LLP · parent
   1. InfraRed Partners LLP · Investment partnership

Significant events

• “On 1 July 2020, the LLP sold 80% of its interest in InfraRed Partners LLP to Sun Life Financial, Inc. At the same time the LLP entered into an Put Agreement with Sun Life Finanical for the remaining 20% of InfraRed Partners LLP which was exercisable form 1 July 2024.”
• “On 30 June 2024, the LLP had the option but not the obligation to sell its remaining 20% investment in InfraRed Partners LLP. It exercised that option with an effective date of 1 July 2024 with completion occurring on 22 August 2024, at which point the LLP ceased to have an interest in InfraRed Partners LLP.”
• “All the remaining restricted capital of £3.2m was released to Members in the year.”
• “Both the members' contributions and restricted capital were fully repaid in the year.”
• “There were no events post the statement of financial position date requiring disclosure in these financial statements.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

7

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -5.1%

  £15,302,492 → £14,526,783

• Cash

  +511.7%

  £2,751,527 → £16,831,473

• Net assets

  +194.3%

  £5,718,302 → £16,826,181

• Employees

  -10.3%

  29 → 26

• Operating profit

  -5.5%

  £15,069,747 → £14,233,910

• Profit before tax

  +384.6%

  £15,589,546 → £75,548,673

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers