Romford SR LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: OC422571

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	4		3,832,088		3,832,088

			3,832,088		3,832,088
CURRENT ASSETS
Debtors	5	304,991		36,083
Cash at bank and in hand		17,308		73,226

		322,299		109,309
Creditors: Amounts Falling Due Within One Year	6	(220,207 )		(1,839,127 )

NET CURRENT ASSETS (LIABILITIES)			102,092		(1,729,818 )

TOTAL ASSETS LESS CURRENT LIABILITIES			3,934,180		2,102,270

Creditors: Amounts Falling Due After More Than One Year	7		(2,015,014 )		-

NET ASSETS ATTRIBUTABLE TO MEMBERS			1,919,166		2,102,270

REPRESENTED BY:
Equity
Members' other interests
Members' capital		2,457,413		2,444,413
Other reserves		(538,247)		(342,143)

			1,919,166		2,102,270

TOTAL MEMBERS' INTEREST
Members' other interests			1,919,166		2,102,270

			1,919,166		2,102,270

Page 1

Page 2

Romford SR LLP

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

The members acknowledge their responsibilities for:

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
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 were approved by the members on 26 September 2025 and were signed on their behalf by:

MOF Romford 3 Limited

Designated Member

The notes on pages 3 to 5 form part of these financial statements.

Page 2

Page 3

Romford SR LLP

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

Statutory Information

Romford SR 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 (£).

Statement of Compliance

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.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

2.2. Turnover

Revenue is recognised at fair value of consideration receivable in respect of the rental of commercial property, excluding value added tax.

2.3. Investment Properties

Investment property is measured at fair value. Any changes to fair value are recorded in the profit and loss account.

2.4. Financial Instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets or financial liabilities or equity instruments.

Basic financial assets:

Basic financial assets which include assets and such as debtors, 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 constitute a financing transaction, where the transaction is measured at the present value of future receipts are discounted at a market rate of interest. Assets receivable within one year are not discounted.

Basic financial liabilities:

Basic financial liabilities. including creditors, bank loans, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitute a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not discounted.

Derivative financial instruments:

Derivative financial instruments are initially measured at fair value at the date a derivative contract is entered into and are subsequently remeasured at their fair value.Changes in fair value of derivatives are recognised in profit and loss within finance costs.

2.5. Deferred tax

The LLP has no deferred tax liability or asset as taxation on members' share of the LLP's profits is solely the personal liability of the individual members and consequently is not dealt with in these financial statements.

2.6. Going concern

In December 2024, there was a successful refinancing, and a loan facility was agreed with Hermes Real Estate Senior Debt Fund Sarl. An interest rate derivative was also put in place to limit the Partnership’s exposure to interest rate risk. This facility expires in December 2026. The Members are not aware of any further material uncertainties that may cast significant doubt upon the LLP's ability to continue as a going concern. Therefore, the financial statements have been prepared on a going concern basis.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: NIL (2024: NIL)

Page 3

Page 4

Romford SR LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Investment Property

	2025
	£
Fair Value
As at 1 April 2024 and 31 March 2025	3,832,088

If investment properties had not been revalued they would have been included at the following historical cost: Investment properties were valued on a fair value basis on 31 March 2024 by Allsop LLP.

	2025	2024
	£	£
Cost	3,771,320	3,771,320

Fair value at 31 March 2025 is represented by:

Cost 3,771,320

Revaluations 60,768

──────────

Net Book Value 3,832,088

══════════

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	-	8,646
Prepayments and accrued income	4,808	4,808
Other debtors	282,450	-
Interest rate cap	13,104	22,629
VAT	4,629	-

	304,991	36,083

Included within debtors is a financial asset which represents the fair value of an interest rate cap agreement. The initial premium paid amounted to £27,915 for an agreement with a strike rate of 4%. This compares against the loan facility which has a interest rate of the Sterling Over Night Index Average (SONIA) plus 4%.The fair value of the cap at the balance sheet date amounted to £13,104 (2024: £22,629). The change in fair value is recognised in profit and loss.

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	17,817	6,597
Bank loans and overdrafts	-	1,442,439
VAT	-	7,542
Other creditors	179,727	319,738
Accruals and deferred income	21,956	62,811
Payments on account	707	-

	220,207	1,839,127

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	2,015,014	-

Page 4

Page 5

Romford SR LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Secured Creditors

The following secured debts are included within creditors: Bank loans are secured by way of a fixed and floating charge against all assets of the LLP.

	2025		2024
	£		£
Bank loans and overdrafts	2,015,014		1,442,439

9. Financial Instruments

The value of the bank loan detailed in note 7 to the financial statements represents the carrying value of a loan facility of £2,086,943 net of transaction costs £71,929 (2024: £3,811). Transaction costs are amortised to the profit and loss account using the effective interest rate of the term of the loan facility. The value of transactions costs released to the profit and loss account during the year under review amounts to £15,500 (2024: £7,549).

10. Related Party Transactions

During the year under review loans amounting to £102,724 due from (2024: £319,738 due to) Limited Liability Partnership's in the same group were outstanding. These loans are interest free, repayable on demand and disclosed within other debtors and creditors due in less than one year.

The LLP was also charged asset and development management fees of £26,602 (2024: £29,247) by an entity that is a member of the LLP.

Page 5