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REGISTERED NUMBER: OC413455 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 March 2024

for

SFG Property 2 LLP

SFG Property 2 LLP (Registered number: OC413455)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

General Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


SFG Property 2 LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: P S D Storey
B C Gower





REGISTERED OFFICE: St Johns House
16 Church Street
Bromsgrove
Worcestershire
B61 8DN





REGISTERED NUMBER: OC413455 (England and Wales)





ACCOUNTANTS: Clay GBP Ltd
St Johns House
16 Church Street
Bromsgrove
Worcestershire
B61 8DN

SFG Property 2 LLP (Registered number: OC413455)

Abridged Balance Sheet
31 March 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks 2,007,443 2,007,443
Debtors 980,009 914,006
Cash at bank 26,439 17,499
3,013,891 2,938,948
CREDITORS
Amounts falling due within one year 1,725,037 1,640,598
NET CURRENT ASSETS 1,288,854 1,298,350
TOTAL ASSETS LESS CURRENT LIABILITIES 1,288,854 1,298,350

CREDITORS
Amounts falling due after more than one year 4 1,288,854 1,298,350
NET LIABILITIES ATTRIBUTABLE TO MEMBERS - -

LOANS AND OTHER DEBTS DUE TO MEMBERS - -

TOTAL MEMBERS' INTERESTS
Amounts due from members (944,559 ) (901,056 )

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 2024.

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.

SFG Property 2 LLP (Registered number: OC413455)

Abridged Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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 January 2025 and were signed by:





P S D Storey - Designated member

SFG Property 2 LLP (Registered number: OC413455)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

SFG Property 2 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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - NIL).

4. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 1,277,500 1,277,500

5. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgage 1,277,500 1,277,500

The mortgage is secured by way of a fixed charge over the property development included in stocks.