Igloo Property Investments LLP - Accounts to registrar (filleted) - small 18.2

Igloo Property Investments LLP - Accounts to registrar (filleted) - small 18.2

IGLOO PROPERTY INVESTMENTS LLP - Company Information

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IRIS Accounts Production v21.4.0.171 OC349275 designated member 1.4.20 31.3.21 31.3.21 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureOC3492752020-03-31OC3492752021-03-31OC3492752020-04-012021-03-31OC3492752019-03-31OC3492752019-04-012020-03-31OC3492752020-03-31OC349275ns16:EnglandWales2020-04-012021-03-31OC349275ns15:PoundSterling2020-04-012021-03-31OC349275ns11:Director12020-04-012021-03-31OC349275ns11:LimitedLiabilityPartnershipLLP2020-04-012021-03-31OC349275ns11:SmallEntities2020-04-012021-03-31OC349275ns11:AuditExempt-NoAccountantsReport2020-04-012021-03-31OC349275ns11:SmallCompaniesRegimeForAccounts2020-04-012021-03-31OC349275ns11:LimitedLiabilityPartnershipsSORP2020-04-012021-03-31OC349275ns11:FullAccounts2020-04-012021-03-31OC349275ns11:Director22020-04-012021-03-31OC349275ns11:Director32020-04-012021-03-31OC349275ns11:Director42020-04-012021-03-31OC349275ns11:RegisteredOffice2020-04-012021-03-31OC349275ns6:CurrentFinancialInstruments2021-03-31OC349275ns6:CurrentFinancialInstruments2020-03-31OC349275ns6:CurrentFinancialInstrumentsns6:WithinOneYear2021-03-31OC349275ns6:CurrentFinancialInstrumentsns6:WithinOneYear2020-03-31


REGISTERED NUMBER: OC349275 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

IGLOO PROPERTY INVESTMENTS LLP
IGLOO PROPERTY INVESTMENTS LLP (REGISTERED NUMBER: OC349275)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IGLOO PROPERTY INVESTMENTS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2021







DESIGNATED MEMBERS: R C Tanner
F Sohail
P S Matthews
K M Matthews





REGISTERED OFFICE: 20 Havelock Road
Hastings
East Sussex
TN34 1BP





REGISTERED NUMBER: OC349275 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP
Page 1
IGLOO PROPERTY INVESTMENTS LLP (REGISTERED NUMBER: OC349275)

BALANCE SHEET
31 MARCH 2021

31.3.21 31.3.20
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,650,000 1,650,000

CURRENT ASSETS
Debtors 5 10,547 13,295
Cash at bank 11,868 10,821
22,415 24,116
CREDITORS
Amounts falling due within one year 6 1,636 3,333
NET CURRENT ASSETS 20,779 20,783
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO MEMBERS 1,670,779 1,670,783

LOANS AND OTHER DEBTS DUE TO
MEMBERS
7
1,195,779
1,195,783

MEMBERS' OTHER INTERESTS
Capital accounts 475,000 475,000
1,670,779 1,670,783

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 1,195,779 1,195,783
Members' other interests 475,000 475,000
1,670,779 1,670,783

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 2021.

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 notes form part of these financial statements

Page 2 continued...
IGLOO PROPERTY INVESTMENTS LLP (REGISTERED NUMBER: OC349275)

BALANCE SHEET - continued
31 MARCH 2021


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 15 November 2021 and were signed by:





R C Tanner - Designated member

The notes form part of these financial statements

Page 3
IGLOO PROPERTY INVESTMENTS LLP (REGISTERED NUMBER: OC349275)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

1. STATUTORY INFORMATION

Igloo Property Investments 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
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.

Turnover
Turnover represents net invoiced rent received excluding value added tax.

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.

Capital subscription and repayment
The capital requirements of the partnership are determined from time to time by the Designated Members. The amount of capital subscribed by each member is linked to the earnings allocated to that member. No interest is paid on capital.

Allocation of profits and drawings
The allocation of profits to those who were members during the year is made by unanimous vote of the Designated Members.

During the year members draw sums as agreed by the Designated Members, taking into account the partnership's cash requirements for operating and investing activities.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2020 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2020
and 31 March 2021 1,650,000
NET BOOK VALUE
At 31 March 2021 1,650,000
At 31 March 2020 1,650,000

Fair value at 31 March 2021 is represented by:
£   
Valuation in 2014 18,818
Valuation in 2015 (446 )
Valuation in 2020 (30,791 )
Cost 1,662,419
1,650,000

Page 4 continued...
IGLOO PROPERTY INVESTMENTS LLP (REGISTERED NUMBER: OC349275)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2021

4. INVESTMENT PROPERTY - continued

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

31.3.21 31.3.20
£    £   
Cost 1,662,419 1,662,419

Investment property was valued on an open market basis on 31 March 2021 by the members .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.21 31.3.20
£    £   
Trade debtors 9,893 11,740
Prepayments 654 1,555
10,547 13,295

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.21 31.3.20
£    £   
Trade creditors 616 2,373
Other creditors 1,020 960
1,636 3,333

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

Unsecured debt due to members will rank equally with debts due to other unsecured creditors in the event of the LLP winding up.

Page 5