ACCOUNTS - Final Accounts

Loans and other debts due to members

Registered number: OC350959

SF GROUND RENTS NO2 LLP

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

SF GROUND RENTS NO2 LLP

REGISTERED NUMBER: OC350959

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Investments	3		1,002		1,002
			1,002		1,002

Creditors: Amounts Falling Due Within One Year	4	(1,002)		(1,002)
Net current liabilities			(1,002)		(1,002)
Total assets less current liabilities			-		-

Net assets			-		-

Represented by:
Loans and other debts due to members within one year
Other amounts	5		(1,507,331)		(1,507,331)
			(1,507,331)		(1,507,331)
Members' other interests
Other reserves classified as equity		1,507,331		1,507,331
			1,507,331		1,507,331
			-		-


Loans and other debts due to members	5	(1,507,331)	(1,507,331)
Members' other interests		1,507,331	1,507,331
		-	-

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SF GROUND RENTS NO2 LLP

REGISTERED NUMBER: OC350959

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

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

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

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf by:

C R Jarvis for and on behalf of SF Member No. 1 Limited

Designated Member

Date: 9 December 2025

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

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SF GROUND RENTS NO2 LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

SF Ground Rents No2 LLP is a limited liability partnership, incorporated in England & Wales (registered number OC350959). Its registered office and principal place of business is Prospect Place, Moorside Road, Winchester, England, SO23 7RX. The financial statements are presented in Sterling, which is the functional currency of the LLP. The LLP ceased to trade on 12 August 2019.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.

2.2

Going concern

These accounts have been prepared on the going concern basis on the understanding that the intermediate parent company, SF Funding Limited, will continue to financially support the LLP. At the period end, creditors total £1,002 (2024: £1,002), of which £1,002 (2024: £1,002) is payable to group undertakings.

2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.5

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .

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SF GROUND RENTS NO2 LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

3.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 April 2024	1,002
	At 31 March 2025	1,002

The subsidiary's equity and profit/loss are disclosed within the intermediate parent company's financial statements.

4.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Amounts owed to group undertakings	1,002	1,002
	1,002	1,002

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SF GROUND RENTS NO2 LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025


Other amounts due to members	(1,507,331)	(1,507,331)
	(1,507,331)	(1,507,331)

Loans and other debts due to members may be further analysed as follows:

					2025	2024
					£	£


Falling due within one year	(1,507,331)	(1,507,331)
	(1,507,331)	(1,507,331)

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

6.	Related party transactions
	FRS 102 does not require disclosure of transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.

7.	Controlling party

The smallest group to consolidate these financial statements is SF Funding Limited. The registered office and principal place of business of SF Funding Limited is Prospect Place, Moorside Road, Winchester, England, SO23 7RX.

8.	Disclosure under section 444(5B) of the Companies Act 2006

The auditors' report on the financial statements for the year ended 31 March 2025 was unqualified.

The audit report was signed on 9 December 2025 by Neville Newman (Senior Statutory Auditor) on behalf of Harris & Trotter LLP.

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