Igloo Property Investments LLP - Accounts to registrar

REGISTERED NUMBER: OC349275 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

IGLOO PROPERTY INVESTMENTS LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

6

DESIGNATED MEMBERS:

R C Tanner

F Sohail

P S 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

FIXED ASSETS

Investment property

3

1,680,791

CURRENT ASSETS

Debtors

4

1,444

-

Cash at bank

9,829

6,599

11,273

6,599

CREDITORS

Amounts falling due within one year

5

961

37,284

NET CURRENT ASSETS/(LIABILITIES)

10,312

(30,685

)

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,691,103

1,650,106

LOANS AND OTHER DEBTS DUE TO
MEMBERS

1,197,731

1,156,734

MEMBERS' OTHER INTERESTS

Capital accounts

475,000

Fair value reserve

6

18,372

1,691,103

1,650,106

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

1,197,731

1,156,734

Members' other interests

493,372

1,691,103

1,650,106

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 2017.

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 have been prepared and delivered in accordance with the provisions of Part 15 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 small LLPs.

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 on 23 August 2017 and were signed by:

R C Tanner - Designated member

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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2016

and 31 March 2017

1,680,791

NET BOOK VALUE

At 31 March 2017

1,680,791

At 31 March 2016

1,680,791

Cost or valuation at 31 March 2017 is represented by:

£

Valuation in 2014

18,818

Valuation in 2015

(446

)

Cost

1,662,419

1,680,791

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

31.3.17

31.3.16

£

Cost

1,662,419

Investment property was valued on an open market basis on 31 March 2017 by the members .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

Prepayments

1,444

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

Trade creditors

1

Other creditors

960

37,283

961

37,284

6.

RESERVES

Fair

value

reserve

£

At 1 April 2016

and 31 March 2017

18,372

7.	ULTIMATE CONTROLLING PARTY

The three partners have equal control.

The following reproduces the text of the report prepared for the members in respect of the LLP's annual

unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to

file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Members are not required to be filed with the Registrar of Companies.

In accordance with our terms of engagement we have prepared for your approval the attached financial statements from

the business accounting records and from information and explanations you have given to us.

The financial statements have been compiled using the going concern and historical cost basis. It is not intended to

achieve full compliance with the provisions of UK Generally Accepted Accounting Principles.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to

its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to you, in accordance with the terms of our engagement. Our work has been undertaken solely

to prepare for your approval the financial information and state those matters that we have agreed to state to you in this

report in accordance with the guidance of ICAEW as detailed at icaew.com/compilation and for no other purpose. To the

fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the person to whom this

report is addressed for our work or for this report.

You have approved the financial statements for the period described above, and have acknowledged your responsibility

for them, for the appropriateness of the financial reporting framework adopted and for providing all information and

explanations necessary for their compilation.

We have not verified the accuracy or completeness of the accounting records or information and explanations you have

given to us and we do not, therefore, express any opinion on the financial statements.

Ashdown Hurrey

Chartered Accountants & Business Advisers

20 Havelock Road

HASTINGS

East Sussex

TN34 1BP

30 August 2017

Igloo Property Investments LLP - Accounts to registrar - small 17.2

Igloo Property Investments LLP - Accounts to registrar - small 17.2