REGISTERED NUMBER: OC353966 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

GENICH 2 LLP

Page

General Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Miss G L Donaldson

C J Donaldson

Miss N M Donaldson

REGISTERED OFFICE:

1 Dartmouth Drive

Windle

St Helens

Merseyside

WA10 6BP

REGISTERED NUMBER:

OC353966 (England and Wales)

ACCOUNTANTS:

Fairhurst

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

FIXED ASSETS

Investment property

4

848,793

710,000

CURRENT ASSETS

Debtors

5

2,719

2,732

Cash at bank

23,569

87,880

26,288

90,612

CREDITORS

Amounts falling due within one year

6

13,584

1,200

NET CURRENT ASSETS

12,704

89,412

TOTAL ASSETS LESS CURRENT LIABILITIES

861,497

799,412

CREDITORS

Amounts falling due after more than one year

7

78,448

-

NET ASSETS ATTRIBUTABLE TO MEMBERS

783,049

799,412

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

780,049

796,412

MEMBERS' OTHER INTERESTS

Capital accounts

3,000

3,000

783,049

799,412

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

780,049

796,412

Members' other interests

3,000

3,000

783,049

799,412

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2023.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 2 October 2023 and were signed by:

C J Donaldson - Designated member

1.	STATUTORY INFORMATION

Genich 2 LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

These financial statements have been prepared in accordance with the Statement Of Recommended Practice, accounting for Limited Liability Partnerships.

Investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through profit and loss. No depreciation is provided in respect of investment properties.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2022 - NIL).

4.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 April 2022

710,000

Additions

138,793

At 31 March 2023

848,793

NET BOOK VALUE

At 31 March 2023

848,793

At 31 March 2022

710,000

Cost or valuation at 31 March 2023 is represented by:

£

Valuation in 2012

(33,883

)

Valuation in 2017

128,632

Valuation in 2022

231,368

Cost

522,676

848,793

In the opinion of the members, there has been no change in the market value of the properties and a revaluation has not therefore been carried out in the current year.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

2,719

2,732

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other creditors

6,034

-

Accruals and deferred income

7,550

1,200

13,584

1,200

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Other creditors

78,448

-

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2023

2022

£

£

Amounts owed to members in respect of profits

780,049

796,412

Falling due within one year

780,049

796,412

Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.