REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 |
FOR |
GOLD LION PROPERTY VENTURES LLP |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 |
FOR |
GOLD LION PROPERTY VENTURES LLP |
GOLD LION PROPERTY VENTURES LLP (REGISTERED NUMBER: OC416649) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
Page |
General Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
GOLD LION PROPERTY VENTURES LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31ST MARCH 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
39 St. Annes Road |
London Colney |
St Albans |
Hertfordshire |
AL2 1LQ |
GOLD LION PROPERTY VENTURES LLP (REGISTERED NUMBER: OC416649) |
STATEMENT OF FINANCIAL POSITION |
31ST MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 6 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
177,898 |
177,847 |
GOLD LION PROPERTY VENTURES LLP (REGISTERED NUMBER: OC416649) |
STATEMENT OF FINANCIAL POSITION - continued |
31ST MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
8 |
33,891 |
46,421 |
MEMBERS' OTHER INTERESTS |
Other reserves |
177,898 | 177,847 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | 33,891 | 46,421 |
Members' other interests | 144,007 | 131,426 |
177,898 | 177,847 |
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 were approved by the members of the LLP and authorised for issue on |
GOLD LION PROPERTY VENTURES LLP (REGISTERED NUMBER: OC416649) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
1. | STATUTORY INFORMATION |
Gold Lion Property Ventures 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 |
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 (2023 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st April 2023 |
Improvements costs | 27,419 |
Fair value adjustments | 12,581 |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise. |
Fair value at 31st March 2024 is represented by: |
£ |
Valuation in 2024 | 12,581 |
Cost | 612,419 |
625,000 |
GOLD LION PROPERTY VENTURES LLP (REGISTERED NUMBER: OC416649) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans (see note 7) |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 446,683 | 407,004 |
7. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 446,683 | 407,004 |
8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
In the event of a winding up of the LLP, amounts classified as 'other debts due to members' would rank behind other non-secured creditors. There are no restrictions that exist on the ability of members to reduce the amounts classified as 'members' capital'. |
Members have agreed not to take cash drawings where this would conflict with the adequacy of the working capital of the LLP. |