REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
SECG Properties LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
SECG Properties LLP |
SECG Properties LLP (Registered number: OC389566) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
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 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1st Floor |
314 Regents Park Road |
Finchley |
London |
N3 2LT |
SECG Properties LLP (Registered number: OC389566) |
Statement of Financial Position |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
2,013,102 |
2,224,550 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
9 |
222,057 |
249,594 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 1,791,045 | 1,974,956 |
2,013,102 | 2,224,550 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 222,057 | 249,594 |
Members' other interests | 1,791,045 | 1,974,956 |
Amounts due from members | 5 | (74,200 | ) | (70,981 | ) |
1,938,902 | 2,153,569 |
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 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
SECG Properties LLP (Registered number: OC389566) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
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 |
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 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
Disposals | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade debtors |
Amounts due from members | 74,200 | 70,981 |
Other debtors |
VAT |
Prepayments and accrued income |
SECG Properties LLP (Registered number: OC389566) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade creditors |
VAT | 5,875 | - |
Other creditors |
Accruals and deferred income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans - more than 1 yr |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans |
The loans are secured by way of a charge over the companies properties. |
9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
31.3.24 | 31.3.23 |
£ | £ |
Amounts owed to members in respect of profits | 222,057 | 249,594 |
Falling due within one year | 222,057 | 249,594 |
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 £22,928 (2023 - £10,440) 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. |