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REGISTERED NUMBER: 11391330 (England and Wales)















ICG-Longbow Partners Development
Investments B Limited

Financial Statements

for the Year Ended 31 May 2023






ICG-Longbow Partners Development
Investments B Limited (Registered number: 11391330)

Contents of the Financial Statements
for the year ended 31 May 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ICG-Longbow Partners Development
Investments B Limited

Company Information
for the year ended 31 May 2023







Directors: K P Cooper
G S Troll
M R Wheeler





Registered office: Procession House
55 Ludgate Hill
London
EC4M 7JW





Registered number: 11391330 (England and Wales)






ICG-Longbow Partners Development
Investments B Limited (Registered number: 11391330)

Balance Sheet
31 May 2023

2023 2022
Notes £ £ £ £
Fixed assets
Investments 4 87,500 87,500

Current assets
Debtors 5 70,000 3

Creditors
Amounts falling due within one year 6 91,100 91,100
Net current liabilities (21,100 ) (91,097 )
Total assets less current liabilities 66,400 (3,597 )

Capital and reserves
Called up share capital 7 70,000 3
Retained earnings 8 (3,600 ) (3,600 )
Shareholders' funds 66,400 (3,597 )

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the Company 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 relating to financial statements, so far as applicable to the Company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 April 2024 and were signed on its behalf by:





G S Troll - Director


ICG-Longbow Partners Development
Investments B Limited (Registered number: 11391330)

Notes to the Financial Statements
for the year ended 31 May 2023


1. Statutory information

ICG-Longbow Partners Development Investments B Limited (the "Company") is a private company, limited by shares, registered in England and Wales. The Company's registered number and registered office address can be found on the Company 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts are presented in Sterling (£).

Amounts in these financial statements are rounded to the nearest £.

Related party exemption
The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Investment income
Investment income is recognised in the period in which it relates when the Company is entitled to the risk and rewards generated from its investments

Significant judgements and estimates
In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

Critical judgements in applying the Company's accounting policies
The critical judgement that the directors have made in the process of applying the Company's accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below:

(i) Assessing indicators and impairment
In assessing whether there have been any indicators or impairment assets, the directors have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience of recoverability. There have been no indicators or impairments identified during the current financial period.

Key sources of estimation uncertainty
The key assumptions concerning the future, and other key sources of estimation uncertainty that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next
financial year are discussed below.

(i) Recoverability of receivables
The Company establishes a provision for receivables that are estimated not to be recoverable. When assessing recoverability the directors consider factors such as the aging of the receivables, past experience of recoverability, and the credit profile of individual or groups of customers are made, and are based on historical experience and other factors that are considered to be applicable.

ICG-Longbow Partners Development
Investments B Limited (Registered number: 11391330)

Notes to the Financial Statements - continued
for the year ended 31 May 2023


2. Accounting policies - continued

Investments
Fixed asset investments are stated at cost less provision for diminution in value.

Financial instruments
Financial assets and liabilities are recognised when the Company becomes party to the contractual provisions of the financial instrument. The Company holds financial instruments which comprise cash and cash equivalents, trade and other receivables, trade and other payables, loans and borrowings. The Company has chosen to apply the provisions of Section 11 Basic Financial Instruments in full.

Financial assets / liabilities - classified as basic financial instruments

(i) Cash and cash equivalents
This includes cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.

(ii) Trade and other receivables
Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.

At the end of each reporting period, the Company assesses whether there is objective evidence that a receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in profit or loss.

(iii) Trade and other payables and loans and borrowings
Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method.

Going concern
These financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the directors have carefully considered these risks including an assessment on uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on assessment, the directors consider that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations and external debt liabilities.

In addition, the Company's assets are assessed for recoverability on a regular basis, and the directors consider that the Company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis.

The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubts upon the Company's ability to continue as a going concern. Thus the directors have continued to adopt the going concern basis of accounting in preparing these financial statements.

3. Employees and directors

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

ICG-Longbow Partners Development
Investments B Limited (Registered number: 11391330)

Notes to the Financial Statements - continued
for the year ended 31 May 2023


4. Fixed asset investments
Interest in
other
participating
interests
£
Cost
At 1 June 2022
and 31 May 2023 87,500
Net book value
At 31 May 2023 87,500
At 31 May 2022 87,500

5. Debtors: amounts falling due within one year
2023 2022
£ £
Other debtors 70,000 3

6. Creditors: amounts falling due within one year
2023 2022
£ £
Amounts owed to participating interests 90,800 90,800
Accruals and deferred income 300 300
91,100 91,100

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
70,000 Ordinary shares £1 70,000 3

69,997 Ordinary shares shares of £1 each were allotted and fully paid for cash at par during the year.

8. Reserves
Retained
earnings
£

At 1 June 2022 (3,600 )
Profit for the year -
At 31 May 2023 (3,600 )

9. Ultimate controlling party

There is no ultimate controlling party.