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REGISTERED NUMBER: OC349924 (England and Wales)

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 MARCH 2025 |

| FOR |

| MMX RETAIL PROPERTY ADVISERS LLP |

MMX RETAIL PROPERTY ADVISERS LLP (REGISTERED NUMBER: OC349924) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page |

| General Information | 1 |

| Statement of Financial Position | 2 |

| Notes to the Financial Statements | 4 |

| MMX RETAIL PROPERTY ADVISERS LLP |

GENERAL INFORMATION

FOR THE YEAR ENDED 31 MARCH 2025

| DESIGNATED MEMBERS: | D Justice

| D Jinks

| N Symons

| Ms L Hardy

| REGISTERED OFFICE: | 2 Jardine House

| Harrovian Business Village

| Bessborough Road

| Harrow

| HA1 3EX

| REGISTERED NUMBER: | OC349924 (England and Wales)

| ACCOUNTANTS: | Barber & Company

| A trading name of PCM Accounting Limited

| 2 Jardine House

| Harrovian Business Village

| Bessborough Road

| Harrow

| Middlesex

| HA1 3EX

MMX RETAIL PROPERTY ADVISERS LLP (REGISTERED NUMBER: OC349924) |

STATEMENT OF FINANCIAL POSITION

31 MARCH 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Property, plant and equipment | 4 | 103,739 |  | 127,875 |  |

CURRENT ASSETS

Debtors | 5 | 971,821 |  | 846,528 |  |

Cash at bank and in hand | 764,598 |  | 586,385 |  |

1,736,419 |  | 1,432,913 |  |

CREDITORS

Amounts falling due within one year | 6 | 366,194 |  | 282,171 |  |

NET CURRENT ASSETS | 1,370,225 |  | 1,150,742 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS | 1,473,964 |  | 1,278,617 |  |

LOANS AND OTHER DEBTS DUE TO MEMBERS | 7 | 1,193,964 |  | 998,617 |  |

MEMBERS' OTHER INTERESTS

Capital accounts | 280,000 |  | 280,000 |  |

1,473,964 |  | 1,278,617 |  |

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members | 7 | 1,193,964 |  | 998,617 |  |

Members' other interests | 280,000 |  | 280,000 |  |

1,473,964 |  | 1,278,617 |  |

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 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.

MMX RETAIL PROPERTY ADVISERS LLP (REGISTERED NUMBER: OC349924) |

STATEMENT OF FINANCIAL POSITION - continued

31 MARCH 2025

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 14 November 2025 and were signed by:

Ms L Hardy - Designated member

D Justice - Designated member

MMX RETAIL PROPERTY ADVISERS LLP (REGISTERED NUMBER: OC349924) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1. | STATUTORY INFORMATION

| MMX Retail Property Advisers 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.

| TURNOVER

| Turnover represents net invoiced fees receivable, excluding value added tax.

| TANGIBLE FIXED ASSETS

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Improvements to property | - | 25% on cost

| Fixtures and fittings | - | 33% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | 33% on reducing balance

3. | EMPLOYEE INFORMATION

| The average number of employees during the year was 8 (2024 - 8 ) .

4. | PROPERTY, PLANT AND EQUIPMENT

| Improvements |  | Fixtures |

| to |  | and |  | Motor |  | Computer |

| property |  | fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 April 2024 | 19,612 |  | 66,578 |  | 265,628 |  | 114,108 |  | 465,926 |  |

| Additions | - |  | 211 |  | 49,235 |  | 3,674 |  | 53,120 |  |

| Disposals | - |  | - |  | (94,393 | ) | - |  | (94,393 | ) |

| At 31 March 2025 | 19,612 |  | 66,789 |  | 220,470 |  | 117,782 |  | 424,653 |  |

| DEPRECIATION

| At 1 April 2024 | 14,767 |  | 62,255 |  | 161,538 |  | 99,491 |  | 338,051 |  |

| Charge for year | 4,845 |  | 1,496 |  | 29,482 |  | 6,036 |  | 41,859 |  |

| Eliminated on disposal | - |  | - |  | (58,996 | ) | - |  | (58,996 | ) |

| At 31 March 2025 | 19,612 |  | 63,751 |  | 132,024 |  | 105,527 |  | 320,914 |  |

| NET BOOK VALUE

| At 31 March 2025 | - |  | 3,038 |  | 88,446 |  | 12,255 |  | 103,739 |  |

| At 31 March 2024 | 4,845 |  | 4,323 |  | 104,090 |  | 14,617 |  | 127,875 |  |

MMX RETAIL PROPERTY ADVISERS LLP (REGISTERED NUMBER: OC349924) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

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

| 31.3.25 |  | 31.3.24

£ | £ |

| Trade debtors | 818,412 |  | 650,985 |  |

| Other debtors | 2,227 |  | - |  |

| Prepayments and accrued income | 151,182 |  | 195,543 |  |

971,821 |  | 846,528 |  |

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

| 31.3.25 |  | 31.3.24

£ | £ |

| Trade creditors | 45,680 |  | 17,502 |  |

| Social security and other taxes | 161,184 |  | 136,645 |  |

| Other creditors | - |  | 920 |  |

| Accruals and deferred income | 159,330 |  | 127,104 |  |

366,194 |  | 282,171 |  |

7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |

| Loans and other debts due to members represent allocated profits not yet paid to members and rank equally with unsecured creditors in the event of a winding up.