REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
ICG-Longbow Partners Investments NO4 LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
ICG-Longbow Partners Investments NO4 LLP |
ICG-Longbow Partners Investments NO4 LLP (Registered number: OC397158) |
Contents of the Financial Statements |
for the year ended 31 December 2023 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
ICG-Longbow Partners Investments NO4 LLP |
General Information |
for the year ended 31 December 2023 |
Designated members: |
Registered office: |
Registered number: |
ICG-Longbow Partners Investments NO4 LLP (Registered number: OC397158) |
Balance Sheet |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investments | 4 |
Current assets |
Cash at bank |
Creditors |
Amounts falling due within one year | 5 |
Net current assets |
Total assets less current liabilities |
and |
Net assets attributable to members | 795,775 | 1,705,725 |
Loans and other debts due to members | 6 | 791,525 | 1,701,475 |
Members' other interests |
Capital accounts | 4,250 | 4,250 |
795,775 | 1,705,725 |
Total members' interests |
Loans and other debts due to members | 6 | 791,525 | 1,701,475 |
Members' other interests | 4,250 | 4,250 |
795,775 | 1,705,725 |
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 |
ICG-Longbow Partners Investments NO4 LLP (Registered number: OC397158) |
Notes to the Financial Statements |
for the year ended 31 December 2023 |
1. | Statutory information |
ICG-Longbow Partners Investments NO4 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 |
The presentational currency of the financial statements is the Pound Sterling (£). |
Amounts in these financial statements are rounded to the nearest £. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover is measured on the accruals basis of accounting. |
Financial instruments |
Financial assets and liabilities are recognised when the LLP becomes party to the contractual provisions of the financial instrument. The firm only holds basic financial instruments which comprise cash and cash equivalents, trade and other receivables, trade and other payables. The LLP has chosen to apply the provisions of Section 11 Basic Financial Instruments in full. |
Financial assets - classified as basic financial instruments |
(i) Cash and cash equivalents |
Cash and cash equivalents include 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 using 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 firm 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 firm 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 the Income Statement. |
(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. Amounts that are payable within one year are measured at the undiscounted amount of the cash expected to be paid. |
Administrative expenses |
The LLP has not employed any staff in the period. |
Investments |
Fixed asset investments are stated at cost less provision for diminution in value. |
Taxation |
Tax payable on the profits of the partnership is the liability of the Members. |
ICG-Longbow Partners Investments NO4 LLP (Registered number: OC397158) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
2. | Accounting policies - continued |
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 members 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 members consider that the LLP 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 LLP's assets are assessed for recoverability on a regular basis, and the members consider that the LLP is not exposed to losses on these assets which would affect their decision to adopt the going concern basis. |
The Members have a reasonable expectation that the LLP 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 LLP's ability to continue as a going concern. Thus the members have continued to adopt the going concern basis of accounting in preparing these financial statements. |
3. | Employee information |
The average number of employees during the year was NIL (2022 - NIL). |
4. | Fixed asset investments |
Unlisted |
investments |
£ |
Cost |
At 1 January 2023 |
Disposals | ( |
) |
Impairments | ( |
) |
At 31 December 2023 |
Net book value |
At 31 December 2023 |
At 31 December 2022 |
5. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Accrued expenses |
6. | Loans and other debts due to members |
In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors. |