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REGISTERED NUMBER: OC434530 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

16 SOMERSET LLP

| 16 SOMERSET LLP (REGISTERED NUMBER: OC434530) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

Page |

| General Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| 16 SOMERSET LLP |

GENERAL INFORMATION

FOR THE YEAR ENDED 30 JUNE 2024

| DESIGNATED MEMBERS: | Helios UK Capital Limited

| RNS Assets Limited

| Pasadina Investment Limited

| Acedean Limited

| DVNT Investments Limited

| REGISTERED OFFICE: | 4th Floor

| Charles House

| 108-110 Finchley Road

| London

| NW3 5JJ

| REGISTERED NUMBER: | OC434530 (England and Wales)

| ACCOUNTANTS: | Numera Partners LLP

| 4th Floor

| Charles House

| 108-110 Finchley Road

| London

| NW3 5JJ

| 16 SOMERSET LLP (REGISTERED NUMBER: OC434530) |

BALANCE SHEET

30 JUNE 2024

| 30.6.24 |  | 30.6.23

| Notes | £ | £ |

CURRENT ASSETS

Stocks | 2,512,093 |  | 1,719,340 |  |

Debtors | 4 | 5,175 |  | 20,675 |  |

Cash at bank | 3,994 |  | 4,149 |  |

2,521,262 |  | 1,744,164 |  |

CREDITORS

Amounts falling due within one year | 5 | 1,526,798 |  | 1,112,053 |  |

NET CURRENT ASSETS | 994,464 |  | 632,111 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS | 994,464 |  | 632,111 |  |

LOANS AND OTHER DEBTS DUE TO MEMBERS | 6 | 994,464 |  | 632,111 |  |

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members | 6 | 994,464 |  | 632,111 |  |

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 30 June 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.

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 2 September 2025 and were signed by:

Helios UK Capital Limited - Designated member

| 16 SOMERSET LLP (REGISTERED NUMBER: OC434530) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

1. | STATUTORY INFORMATION

| 16 Somerset 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 (£) and rounded to the nearest £.

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.

| Going concern

| After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company, therefore continues to adopt the going concern policy in preparing its financial statements.

| Significant judgements and estimates

| In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilites that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods.

| Stocks

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

| Financial instruments

| The company has elected to apply the provisions of section 11 'basic financial instruments' and section 12 'other financial instruments issues' of FRS 102 to all of its financial instruments.

| Financial instruments are recognised in the company's balance sheet when the company becomes party to contractual provisions of the instruments.

| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

| Basic financial instruments

| Basic financial instruments, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

| 16 SOMERSET LLP (REGISTERED NUMBER: OC434530) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2024

2. | ACCOUNTING POLICIES - continued

| Impairment of financial assets

| Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairments at each reporting date.

| Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in the profit or loss.

| If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

| Derecognition of financial assets

| Financial assets are recognised only when the contractual rights to the cashflows form the asset expire of are settled, or when the company transfers the financial assets and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

| Classification of financial liabilities

| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

| Basic financial liabilities

| Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt , are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

| Debt instruments are subsequently carried at amortised cost, using the effective interest method.

| Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

| Derecognition of financial liabilities

| Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

3. | EMPLOYEE INFORMATION

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

4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.6.24 |  | 30.6.23

£ | £ |

| Other debtors | 5,175 |  | 20,675 |  |

5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.6.24 |  | 30.6.23

£ | £ |

| Bank loans and overdrafts | 1,547,423 |  | 1,021,896 |  |

| Trade creditors | 113,543 |  | 40,262 |  |

| Other creditors | (134,168 | ) | 49,895 |  |

1,526,798 |  | 1,112,053 |  |

| 16 SOMERSET LLP (REGISTERED NUMBER: OC434530) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2024

6. | LOANS AND OTHER DEBTS DUE TO MEMBERS |

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