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REGISTERED NUMBER: OC327731 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

GJ PROPERTIES LLP

GJ PROPERTIES LLP (REGISTERED NUMBER: OC327731)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GJ PROPERTIES LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DESIGNATED MEMBERS: Mr G M Iandolo
Mrs C E Iandolo
Express Cabs & Couriers Ltd





REGISTERED OFFICE: 11 -17 Upper Stone Street
Maidstone
Kent
ME15 6EU





REGISTERED NUMBER: OC327731 (England and Wales)





ACCOUNTANTS: George & Co.
Chartered Accountants
44a Joy Lane
Whitstable
Kent
CT5 4LT

GJ PROPERTIES LLP (REGISTERED NUMBER: OC327731)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,203,634 1,203,634

CURRENT ASSETS
Cash at bank 43,709 66,815

CREDITORS
Amounts falling due within one year 5 262,692 423,580
NET CURRENT LIABILITIES (218,983 ) (356,765 )
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

984,651

846,869

LOANS AND OTHER DEBTS DUE TO
MEMBERS

984,651

846,869

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 984,651 846,869

GJ PROPERTIES LLP (REGISTERED NUMBER: OC327731)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2023


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 Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 11 October 2023 and were signed by:





Mr G M Iandolo - Designated member

GJ PROPERTIES LLP (REGISTERED NUMBER: OC327731)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

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

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.

Revenue
Revenue represents the total income earned during the year. The partnership is not registered for value added tax.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3. EMPLOYEE INFORMATION

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 1,203,634
NET BOOK VALUE
At 31 March 2023 1,203,634
At 31 March 2022 1,203,634

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 262,692 260,367
Trade creditors - 163,213
262,692 423,580

6. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 262,692 260,367

The bank loans are secured by mortgages taken out over the property purchased by the partnership, which is included within work in progress. The capital and interest on the loans are being repaid monthly. The loans will be repaid in full on sale of the property.