REGISTERED NUMBER: OC389566 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

SECG Properties LLP

Page

General Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

West Country (Holdings) Limited

Seek Holdings Limited

REGISTERED OFFICE:

1st Floor

314 Regents Park Road

Finchley

London

N3 2LT

REGISTERED NUMBER:

OC389566 (England and Wales)

ACCOUNTANTS:

Wolfson Associates Limited

1st Floor

314 Regents Park Road

Finchley

London

N3 2LT

FIXED ASSETS

Investment property

4

4,096,671

4,096,671

CURRENT ASSETS

Debtors

5

98,183

90,366

Cash at bank

89,330

112,081

187,513

202,447

CREDITORS

Amounts falling due within one year

6

134,699

136,016

NET CURRENT ASSETS

52,814

66,431

TOTAL ASSETS LESS CURRENT LIABILITIES

4,149,485

4,163,102

CREDITORS

Amounts falling due after more than one year

7

2,150,000

2,150,000

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,999,485

2,013,102

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

201,228

222,057

MEMBERS' OTHER INTERESTS

Capital accounts

1,798,257

1,791,045

1,999,485

2,013,102

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

201,228

222,057

Members' other interests

1,798,257

1,791,045

Amounts due from members

5

(94,882

)

(74,200

)

1,904,603

1,938,902

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.

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 26 September 2025 and were signed by:

West Country (Holdings) Limited - Designated member

1.	STATUTORY INFORMATION

SECG Properties 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 (£).

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 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.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

4,096,671

NET BOOK VALUE

At 31 March 2025

4,096,671

At 31 March 2024

4,096,671

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

-

12,500

Amounts due from members

94,882

74,200

Other debtors

3,276

3,643

Prepayments and accrued income

25

23

98,183

90,366

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

7,319

5,825

VAT

6,830

5,875

Other creditors

636

636

Accruals and deferred income

119,914

123,680

134,699

136,016

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans - more than 1 yr

2,150,000

2,150,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

2,150,000

2,150,000

The loans are secured by way of a charge over the companies properties.

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

31.3.25

31.3.24

£

£

Amounts owed to members in respect of profits

201,228

222,057

Falling due within one year

201,228

222,057

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

10.	RELATED PARTY DISCLOSURES

Expenses include £30,128 (2024 - £22,928) fees paid to Cubitt Greystock Limited in respect to management services provided subsequent to their resignation as a Designated Member.

Cubitt Greystock Limited owns 100% of the issued Share Capital of West Country (Holdings) Limited and is regarded as its' Ultimate Parent Company.