TRUE NORTH REAL ASSET PARTNERS LIMITED

Company Registration Number:
05313493 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

TRUE NORTH REAL ASSET PARTNERS LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Directors report
Balance sheet
Additional notes
Balance sheet notes

TRUE NORTH REAL ASSET PARTNERS LIMITED

Directors' report period ended 31 December 2023

The directors present their report with the financial statements of the company for the period ended 31 December 2023

Directors

The directors shown below have held office during the whole of the period from
1 January 2023 to 31 December 2023

HW Humble
J Jackson


The director shown below has held office during the period of
1 January 2023 to 19 December 2023

R Wilson


The director shown below has held office during the period of
19 December 2023 to 31 December 2023

K Lukas


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
31 December 2024

And signed on behalf of the board by:
Name: HW Humble
Status: Director

TRUE NORTH REAL ASSET PARTNERS LIMITED

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 59,955 31,225
Investments: 4 15,803 14,752
Total fixed assets: 75,758 45,977
Current assets
Debtors: 5 98,389 116,517
Cash at bank and in hand: 35,451 160,623
Total current assets: 133,840 277,140
Creditors: amounts falling due within one year: 6 ( 216,474 ) ( 321,235 )
Net current assets (liabilities): (82,634) (44,095)
Total assets less current liabilities: (6,876) 1,882
Total net assets (liabilities): (6,876) 1,882
Capital and reserves
Called up share capital: 1 1
Profit and loss account: (6,877 ) 1,881
Total Shareholders' funds: ( 6,876 ) 1,882

The notes form part of these financial statements

TRUE NORTH REAL ASSET PARTNERS LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 31 December 2024
and signed on behalf of the board by:

Name: HW Humble
Status: Director

The notes form part of these financial statements

TRUE NORTH REAL ASSET PARTNERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Income is recognised when fees for investment advisory services are raised and apportioned over the agreed period to which they relate.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives as follows: Computer equipment 4 years Fixtures & fittings 4 years Plant & machinery 4 years Motor vehicles 4 years

TRUE NORTH REAL ASSET PARTNERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 4 3

TRUE NORTH REAL ASSET PARTNERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 1,806 12,624 4,936 17,648 37,014
Additions 1,021 2,263 36,591 39,875
Disposals
Revaluations
Transfers
At 31 December 2023 2,827 12,624 7,199 54,239 76,889
Depreciation
At 1 January 2023 289 2,017 1,998 1,485 5,789
Charge for year 537 3,156 1,515 5,937 11,145
On disposals
Other adjustments
At 31 December 2023 826 5,173 3,513 7,422 16,934
Net book value
At 31 December 2023 2,001 7,451 3,686 46,817 59,955
At 31 December 2022 1,517 10,607 2,938 16,163 31,225

TRUE NORTH REAL ASSET PARTNERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Fixed assets investments note

Investment in subsidiaries consists of an investment in a wholly owned subsidiary True North (EREP) Guernsey Limited, a company registered in Guernsey. Other investments consists of an investment in an irrevocable discretionary trust registered in Guernsey namely The True North Employee Benefit Trust 2021 for the benefit of the employees (but not directors of the company). Maximum commitment to the Trust by the Company amounts to £25,000.

TRUE NORTH REAL ASSET PARTNERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Debtors

2023 2022
£ £
Trade debtors 0 0
Prepayments and accrued income 79,797 89,943
Other debtors 18,592 26,574
Total 98,389 116,517

TRUE NORTH REAL ASSET PARTNERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 11,887 74,897
Taxation and social security 50,733 40,417
Accruals and deferred income 123,511 204,416
Other creditors 30,343 1,505
Total 216,474 321,235