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REGISTERED NUMBER: OC389566 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

SECG Properties LLP

SECG Properties LLP (Registered number: OC389566)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SECG Properties LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: West Country (Holdings) Limited
Seek Holdings Limited





REGISTERED OFFICE: 1st Floor
314 Regents Park Road
Finchley
London
N3 2LT





REGISTERED NUMBER: OC389566 (England and Wales)





ACCOUNTANTS: Wolfson Associates Limited
1st Floor
314 Regents Park Road
Finchley
London
N3 2LT

SECG Properties LLP (Registered number: OC389566)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 4,265,947 4,079,553

CURRENT ASSETS
Debtors 5 359,255 121,256
Cash at bank 38,888 75,030
398,143 196,286
CREDITORS
Amounts falling due within one year 6 114,540 100,999
NET CURRENT ASSETS 283,603 95,287
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,549,550

4,174,840

CREDITORS
Amounts falling due after more than one
year

7

2,325,000

1,294,250
NET ASSETS ATTRIBUTABLE TO
MEMBERS

2,224,550

2,880,590

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

249,594

116,682

MEMBERS' OTHER INTERESTS
Capital accounts 1,974,956 2,763,908
2,224,550 2,880,590

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 249,594 116,682
Members' other interests 1,974,956 2,763,908
Amounts due from members 5 (70,981 ) (59,187 )
2,153,569 2,821,403

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 2023.

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.

SECG Properties LLP (Registered number: OC389566)

Statement of Financial Position - continued
31 March 2023


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 30 June 2023 and were signed by:





West Country (Holdings) Limited - Designated member

SECG Properties LLP (Registered number: OC389566)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

SECG Properties LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2022 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 4,079,553
Additions 2,308,788
Disposals (2,122,394 )
At 31 March 2023 4,265,947
NET BOOK VALUE
At 31 March 2023 4,265,947
At 31 March 2022 4,079,553

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 33,089 -
Amounts due from members 70,981 59,187
Other debtors 4,084 62,069
VAT 251,061 -
Prepayments and accrued income 40 -
359,255 121,256

SECG Properties LLP (Registered number: OC389566)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts - 10,600
Trade creditors 3,719 3,600
VAT - 221
Other creditors 636 460
Accruals and deferred income 110,185 86,118
114,540 100,999

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - more than 1 yr 2,325,000 1,294,250

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 2,325,000 1,304,850

The loans are secured by way of a charge over the companies properties.

9. LOANS AND OTHER DEBTS DUE TO MEMBERS
31.3.23 31.3.22
£    £   
Amounts owed to members in respect of profits 249,594 116,682

Falling due within one year 249,594 116,682

Loans and other debts due to Members rank equally with debts due to ordinary creditors in a winding up.

10. RELATED PARTY DISCLOSURES

Expenses include £10,440 (2022 - £15,992) fees paid to Cubitt Greystock Limited in respect to management services provided subsequent to their resignation as a Designated Member.
Cubitt Greystock Limited owns 100% of the issued Share Capital of West Country (Holdings) Limited and is regarded as its' Ultimate Parent Company.