REGISTERED NUMBER: OC383408 (England and Wales)

Report of the Members and

Unaudited Financial Statements for the Year Ended 31st March 2025

for

Floor Seven LLP

Page

General Information

1

Report of the Members

2

Chartered Certified Accountants' Report

3

Income Statement

4

Balance Sheet

5

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

N Sethi

Mrs N Sethi

REGISTERED OFFICE:

The Lexicon

10 - 12 Mount Street

Manchester

M2 5NT

REGISTERED NUMBER:

OC383408 (England and Wales)

ACCOUNTANTS:

Veritas Accountants & Advisory Limited

The Lexicon

Mount Street

Manchester

M2 5NT

The members present their report with the financial statements of the LLP for the year ended 31st March 2025.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of the rental of investment properties.

DESIGNATED MEMBERS

The designated members during the year under review were:

N Sethi

Mrs N Sethi

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The loss for the year before members' remuneration and profit shares was £11,339 (2024 - £4,721 loss).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

N Sethi - Designated member

15th October 2025

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Floor Seven LLP for the year ended 31st March 2025 which comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at accaglobal.com/rulebook.

This report is made solely to the members of Floor Seven LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Floor Seven LLP and state those matters that we have agreed to state to the members of Floor Seven LLP, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

https://www.accaglobal.com/gb/en/technical-activities/technical-resources-

search/2009/october/factsheet-163-audit-exempt-companies.html.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Floor Seven LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Floor Seven LLP. You consider that Floor Seven LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Floor Seven LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Veritas Accountants & Advisory Limited

The Lexicon

Mount Street

Manchester

M2 5NT

16th October 2025

TURNOVER

25,640

19,945

Cost of sales

17,535

14,165

GROSS PROFIT

8,105

5,780

Administrative expenses

13,109

2,193

OPERATING (LOSS)/PROFIT

(5,004

)

3,587

Interest payable and similar expenses

4

6,335

8,308

LOSS FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

(11,339

)

(4,721

)

FIXED ASSETS

Investment property

5

819,500

819,500

CREDITORS

Amounts falling due within one year

6

11,577

12,675

NET CURRENT LIABILITIES

(11,577

)

(12,675

)

TOTAL ASSETS LESS CURRENT LIABILITIES

807,923

806,825

CREDITORS

Amounts falling due after more than one year

7

54,364

142,966

NET ASSETS ATTRIBUTABLE TO MEMBERS

753,559

663,859

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

753,359

663,659

MEMBERS' OTHER INTERESTS

Capital accounts

200

200

753,559

663,859

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

753,359

663,659

Members' other interests

200

200

753,559

663,859

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 31st March 2025.

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 in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 15th October 2025 and were signed by:

N Sethi - Designated member

1.	STATUTORY INFORMATION

Floor Seven 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.

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2018, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the limited liability partnership’s accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities 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 revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Investment properties

A critical judgement has been made in relation to the fair value of the investment properties. The value has been based on the members' assessment of the market conditions and their forecast as to what the selling price would be for properties should they be sold on the open market.

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 2 (2024 - 2 ) .

4.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.3.25

31.3.24

£

£

Bank interest

-

8,308

Bank loan interest

6,335

-

6,335

8,308

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2024

and 31st March 2025

819,500

NET BOOK VALUE

At 31st March 2025

819,500

At 31st March 2024

819,500

The fair value of the investment properties have been arrived at on the basis of valuations carried out on 31 March 2025 by the directors of the company. The valuations were made on an open market value basis by reference to market evidence of transaction prices for similar properties. No depreciation is provided in respect of these properties.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts (see note 8)

6,726

7,825

Trade creditors

3,901

3,900

Accrued expenses

950

950

11,577

12,675

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans (see note 8)

54,364

142,966

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

22,675

109,268

8.

LOANS

An analysis of the maturity of loans is given below:

31.3.25

31.3.24

£

£

Amounts falling due within one year or on demand:

Bank loans - less than 1 yr

6,726

7,825

Amounts falling due between two and five years:

Bank loans - 2-5 years

31,689

33,698

31.3.25

31.3.24

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

22,675

109,268

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

61,090

150,791

The long-term loan is secured against the investment properties held by the limited liability partnership.

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is the members.