IRIS Accounts Production v24.3.2.46 OC424770 designated member 31.3.23 30.3.24 30.3.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC4247702023-03-30OC4247702024-03-30OC4247702023-03-312024-03-30OC4247702022-03-31OC4247702022-04-012023-03-30OC4247702023-03-30OC424770ns15:EnglandWales2023-03-312024-03-30OC424770ns14:PoundSterling2023-03-312024-03-30OC424770ns10:PartnerLLP12023-03-312024-03-30OC424770ns10:LimitedLiabilityPartnershipLLP2023-03-312024-03-30OC424770ns10:SmallEntities2023-03-312024-03-30OC424770ns10:AuditExempt-NoAccountantsReport2023-03-312024-03-30OC424770ns10:SmallCompaniesRegimeForAccounts2023-03-312024-03-30OC424770ns10:LimitedLiabilityPartnershipsSORP2023-03-312024-03-30OC424770ns10:FullAccounts2023-03-312024-03-30OC424770ns5:CurrentFinancialInstruments2024-03-30OC424770ns5:CurrentFinancialInstruments2023-03-30OC424770ns5:Non-currentFinancialInstruments2024-03-30OC424770ns5:Non-currentFinancialInstruments2023-03-30OC424770ns5:CapitalRedemptionReserve2024-03-30OC424770ns5:CapitalRedemptionReserve2023-03-30OC424770ns5:FurtherSpecificReserve3ComponentTotalEquity2024-03-30OC424770ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-30OC424770ns10:RegisteredOffice2023-03-312024-03-30OC424770ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-30OC424770ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-30OC424770ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-03-30OC424770ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-30OC424770ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-30OC424770ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-312024-03-30
REGISTERED NUMBER: OC424770 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2024

FOR

I G C P INVESTMENTS LLP

I G C P INVESTMENTS LLP (REGISTERED NUMBER: OC424770)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


I G C P INVESTMENTS LLP (REGISTERED NUMBER: OC424770)

STATEMENT OF FINANCIAL POSITION
30 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 4,561,891 3,713,046

CURRENT ASSETS
Debtors 5 38,774 16,788
Cash at bank 105,238 573,882
144,012 590,670
CREDITORS
Amounts falling due within one year 6 32,215 17,413
NET CURRENT ASSETS 111,797 573,257
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,673,688

4,286,303

CREDITORS
Amounts falling due after more than one year 7 2,314,791 2,299,501
NET ASSETS ATTRIBUTABLE TO MEMBERS 2,358,897 1,986,802

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

2,409,128

2,037,033

MEMBERS' OTHER INTERESTS
Other reserves (1,088,185 ) (286,231 )
Fair value reserve 10 1,037,954 236,000
2,358,897 1,986,802

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 2,409,128 2,037,033
Members' other interests (50,231 ) (50,231 )
2,358,897 1,986,802

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 30 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.

I G C P INVESTMENTS LLP (REGISTERED NUMBER: OC424770)

STATEMENT OF FINANCIAL POSITION - continued
30 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 Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 10 February 2025 and were signed by:





I S Symeou - Designated member

I G C P INVESTMENTS LLP (REGISTERED NUMBER: OC424770)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024

1. STATUTORY INFORMATION

I G C P Investments LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number: OC424770

Registered office: 1 Kings Avenue
London
N21 3NA

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.

Significant judgements and estimates
In the application of the LLP's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources.The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

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 where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods.

Revenue
Revenue represents the value of rental income chargeable in respect of the LLP's investment property. Revenue is recognised when services are rendered to the customers.

Investment property
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously

I G C P INVESTMENTS LLP (REGISTERED NUMBER: OC424770)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2024

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 March 2023 3,713,046
Additions 276,891
Revaluations 571,954
At 30 March 2024 4,561,891
NET BOOK VALUE
At 30 March 2024 4,561,891
At 30 March 2023 3,713,046

Fair value at 30 March 2024 is represented by:
£   
Valuation in 2023 236,000
Valuation in 2024 571,954
Cost 3,753,937
4,561,891

If Investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 3,753,937 3,477,046

Investment property was valued on an open market basis on 30 March 2024 by the designated members .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 15,591 7,208
Other debtors 17,938 7,330
Accrued income 2,336 -
Prepayments 2,909 2,250
38,774 16,788

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 12,204 13,993
Other creditors 14,617 -
Deferred income 1,950 -
Accrued expenses 3,444 3,420
32,215 17,413

I G C P INVESTMENTS LLP (REGISTERED NUMBER: OC424770)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans more 5 yrs non-inst 2,314,791 2,299,501

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 2,314,791 2,299,501

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 2,314,791 2,299,501

The bank and other loans are secured by way of fixed and floating charge on the properties and other assets of the company and contains a negative pledge.

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.

10. RESERVES
Fair
value
reserve
£   
At 31 March 2023 236,000
Movement in the year 801,954
At 30 March 2024 1,037,954

11. ULTIMATE CONTROLLING PARTY

The controlling party is I S Symeou.