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REGISTERED NUMBER: OC353966 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

GENICH 2 LLP

GENICH 2 LLP (REGISTERED NUMBER: OC353966)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GENICH 2 LLP

GENERAL INFORMATION
for the Year Ended 31 March 2024







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 Accountants Ltd
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

GENICH 2 LLP (REGISTERED NUMBER: OC353966)

STATEMENT OF FINANCIAL POSITION
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 848,793 848,793

CURRENT ASSETS
Debtors 5 - 2,720
Cash at bank 13,791 23,569
13,791 26,289
CREDITORS
Amounts falling due within one year 6 23,029 13,585
NET CURRENT (LIABILITIES)/ASSETS (9,238 ) 12,704
TOTAL ASSETS LESS CURRENT
LIABILITIES

839,555

861,497

CREDITORS
Amounts falling due after more than one
year

7

62,821

78,448
NET ASSETS ATTRIBUTABLE TO
MEMBERS

776,734

783,049

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

773,734

780,049

MEMBERS' OTHER INTERESTS
Capital accounts 3,000 3,000
776,734 783,049

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 773,734 780,049
Members' other interests 3,000 3,000
776,734 783,049

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 2024.

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.

GENICH 2 LLP (REGISTERED NUMBER: OC353966)

STATEMENT OF FINANCIAL POSITION - continued
31 March 2024


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 3 December 2024 and were signed by:





C J Donaldson - Designated member

GENICH 2 LLP (REGISTERED NUMBER: OC353966)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

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 (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 848,793
NET BOOK VALUE
At 31 March 2024 848,793
At 31 March 2023 848,793

Cost or valuation at 31 March 2024 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
2024 2023
£    £   
Other debtors - 2,720

GENICH 2 LLP (REGISTERED NUMBER: OC353966)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 15,598 6,035
Accruals and deferred income 7,431 7,550
23,029 13,585

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 62,821 78,448

8. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 773,734 780,049

Falling due within one year 773,734 780,049

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