IRIS Accounts Production v25.3.0.601 OC336996 designated member 1.5.24 30.4.25 30.4.25 0 1 false true true false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh OC336996 2024-04-30 OC336996 2025-04-30 OC336996 2024-05-01 2025-04-30 OC336996 2023-04-30 OC336996 2023-05-01 2024-04-30 OC336996 2024-04-30 OC336996 ns15:EnglandWales 2024-05-01 2025-04-30 OC336996 ns14:PoundSterling 2024-05-01 2025-04-30 OC336996 ns10:PartnerLLP1 2024-05-01 2025-04-30 OC336996 ns10:LimitedLiabilityPartnershipLLP 2024-05-01 2025-04-30 OC336996 ns10:FRS102 2024-05-01 2025-04-30 OC336996 ns10:Audited 2024-05-01 2025-04-30 OC336996 ns10:LargeMedium-sizedCompaniesRegimeForAccounts 2024-05-01 2025-04-30 OC336996 ns10:LimitedLiabilityPartnershipsSORP 2024-05-01 2025-04-30 OC336996 ns10:FullAccounts 2024-05-01 2025-04-30 OC336996 ns10:PartnerLLP2 2024-05-01 2025-04-30 OC336996 ns10:RegisteredOffice 2024-05-01 2025-04-30 OC336996 ns5:CurrentFinancialInstruments 2025-04-30 OC336996 ns5:CurrentFinancialInstruments 2024-04-30 OC336996 ns5:CurrentFinancialInstruments ns5:WithinOneYear 2025-04-30 OC336996 ns5:CurrentFinancialInstruments ns5:WithinOneYear 2024-04-30

REGISTERED NUMBER: OC336996 (England and Wales)

| Report of the Members and |

| Financial Statements |

| for the Year Ended 30th April 2025 |

| for |

| SRP RISK AND FINANCE LLP |

SRP RISK AND FINANCE LLP (REGISTERED NUMBER: OC336996) |

Contents of the Financial Statements

for the year ended 30th April 2025

Page |

| General Information | 1 |

| Report of the Members | 2 |

| Report of the Independent Auditors | 4 |

| Statement of Comprehensive Income | 7 |

| Statement of Financial Position | 8 |

| Reconciliation of Members' Interests | 9 |

| Statement of Cash Flows | 11 |

| Notes to the Statement of Cash Flows | 12 |

| Notes to the Financial Statements | 14 |

| SRP RISK AND FINANCE LLP |

General Information

for the year ended 30th April 2025

| DESIGNATED MEMBERS: | N S R Edwards

| SRP 2 LLP

| REGISTERED OFFICE: | 167-169 Great Portland St

| London

| W1W 5PF

| REGISTERED NUMBER: | OC336996 (England and Wales)

| AUDITORS: | TC Group

| Statutory Auditor

| 3rd Floor, Suffolk House

| George Street

| Croydon

| CR0 0YN

SRP RISK AND FINANCE LLP (REGISTERED NUMBER: OC336996) |

Report of the Members

for the year ended 30th April 2025

The members present their report with the financial statements of the LLP for the year ended 30th April 2025.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of corporate finance.

DESIGNATED MEMBERS

The designated members during the year under review were:

N S R Edwards

SRP 2 LLP

N S R Edwards acts as a nominee member for SRP 2 LLP.

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £16,025 (2024 - £15,376 profit).

MEMBERS' INTERESTS

The policy in relation to members' drawings, subscriptions and repayment of capital, whether equity or debt, is established in the Members' Agreement. Movements of members' interests between equity and debt are as disclosed in the Reconciliation of Members' Interests.

STATEMENT OF MEMBERS' RESPONSIBILITIES

The members are responsible for preparing the Report of the Members and the financial statements in accordance with applicable law and regulations.

Legislation applicable to limited liability partnerships requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under legislation applicable to limited liability partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period. In preparing these financial statements, the members are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business.

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the members are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the LLP's auditors are unaware, and each member has taken all the steps that he ought to have taken as a member in order to make himself aware of any relevant audit information and to establish that the LLP's auditors are aware of that information.

SRP RISK AND FINANCE LLP (REGISTERED NUMBER: OC336996) |

Report of the Members

for the year ended 30th April 2025

AUDITORS

The auditors, TC Group, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE MEMBERS:

N S R Edwards - Designated member

21st August 2025

Report of the Independent Auditors to the Members of

SRP Risk and Finance LLP

Opinion

We have audited the financial statements of SRP Risk and Finance LLP (the 'LLP') for the year ended 30th April 2025 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Reconciliation of Members' Interests, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the LLP's affairs as at 30th April 2025 and of its profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance 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.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the LLP in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the members' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the LLP's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the members with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Companies Act 2006 as applied to LLPs requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and returns; or

- | we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of

SRP Risk and Finance LLP

Responsibilities of members

As explained more fully in the Statement of Members' Responsibilities set out on page two, the members are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the members determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the members are responsible for assessing the LLP's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the members either intend to liquidate the LLP or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- We obtained an understanding of the legal and regulatory frameworks through our accumulated knowledge |  | and consideration of sector information that is applicable to the entity. We determined that the most | significant which are directly relevant to specific assertions in the financial statements are those related to | the financial reporting framework including but not limited to United Kingdom Generally Accepted | Accounting Practice and the Companies Act 2006 and tax legislation. |

- |  | We made enquiries with management and those charged with governance to confirm our understanding that the LLP continued to comply with the applicable legal and regulatory frameworks, and also to confirm our understanding of the specific policies and procedures enlisted to ensure ongoing compliance. |

- |  | We assessed the susceptibility of the LLP's financial statements to material misstatement, including how fraud may occur, and gained an understanding of the LLP's policies and procedures on fraud risks through discussion with management. |

- |  | We considered the risk of material misstatement due to fraud as a result of possible management override of controls, and improper revenue recognition. To address these risks we tested the appropriateness of journal entries posted, reviewed those judgements made in making accounting estimates, and tested the application of revenue recognition and the cut-off of revenue. |

Report of the Independent Auditors to the Members of

SRP Risk and Finance LLP

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the LLP's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. Our audit work has been undertaken so that we might state to the LLP's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and the LLP's members as a body, for our audit work, for this report, or for the opinions we have formed.

Patrick duCasse (Senior Statutory Auditor)

for and on behalf of TC Group

Statutory Auditor

3rd Floor, Suffolk House

George Street

Croydon

CR0 0YN

21st August 2025

SRP RISK AND FINANCE LLP (REGISTERED NUMBER: OC336996) |

Statement of Comprehensive

Income

for the year ended 30th April 2025

| 30.4.25 |  | 30.4.24

| Notes | £ | £ |

REVENUE | 21,437 |  | 20,617 |  |

Administrative expenses | (6,229 | ) | (5,913 | ) |

OPERATING PROFIT | 3 | 15,208 |  | 14,704 |  |

Interest receivable and similar income | 817 |  | 672 |  |

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES | 16,025 |  | 15,376 |  |

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES | 16,025 |  | 15,376 |  |

Members' remuneration charged as an expense | 4 | (16,025 | ) | (15,376 | ) |

PROFIT FOR THE FINANCIAL YEAR AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS | - |  | - |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | - |  | - |  |

SRP RISK AND FINANCE LLP (REGISTERED NUMBER: OC336996) |

Statement of Financial Position

30th April 2025

| 30.4.25 |  | 30.4.24

| Notes | £ | £ |

CURRENT ASSETS

Debtors | 5 | 63,581 |  | 52,186 |  |

Cash at bank | 48,041 |  | 59,365 |  |

111,622 |  | 111,551 |  |

CREDITORS

Amounts falling due within one year | 6 | 5,547 |  | 5,476 |  |

NET CURRENT ASSETS | 106,075 |  | 106,075 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS | 106,075 |  | 106,075 |  |

LOANS AND OTHER DEBTS DUE TO MEMBERS | 7 | 56,075 |  | 56,075 |  |

MEMBERS' OTHER INTERESTS

Capital accounts | 50,000 |  | 50,000 |  |

106,075 |  | 106,075 |  |

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members | 7 | 56,075 |  | 56,075 |  |

Members' other interests | 50,000 |  | 50,000 |  |

Amounts due from members | 5 | (40,662 | ) | (41,997 | ) |

65,413 |  | 64,078 |  |

The financial statements were approved by the members of the LLP and authorised for issue on 21st August 2025 and were signed by:

N S R Edwards - Designated member

SRP RISK AND FINANCE LLP (REGISTERED NUMBER: OC336996) |

Reconciliation of Members' Interests

for the year ended 30th April 2025

| EQUITY

| Members' other interests

| Members' |

| capital |

| (classified |

| as |  | Other |

| equity) |  | reserves |  | Total

£ | £ | £ |

Balance at 1st May 2024 | 50,000 |  | - |  | 50,000 |  |

Members' remuneration charged as an expense, including employment and retirement benefit costs | - |  | - |  | - |  |

Profit for the financial year available for discretionary division among members | - |  | - |  | - |  |

Members' interests after profit for the year | 50,000 |  | - |  | 50,000 |  |

Repayments of debt (including members' capital classified as a liability) | - |  | - |  | - |  |

Drawings on account and distributions of profit | - |  | - |  | - |  |

Balance at 30th April 2025 | 50,000 |  | - |  | 50,000 |  |

| DEBT | TOTAL

| Loans and other debts due to | MEMBERS'

| members less any amounts due | INTERESTS

| from members in debtors |

| Members' |

| capital |

| (classified |  | Other |

| as debt) |  | amounts |  | Total |  | Total

£ | £ | £ | £ |

Amount due to members | 50,000 |  | 6,075 |  | 56,075 |  |

Amount due from members | - |  | (41,997 | ) | (41,997 | ) |

Balance at 1st May 2024 | 50,000 |  | (35,922 | ) | 14,078 |  | 64,078 |  |

Members' remuneration charged as an expense, including employment and retirement benefit costs | - |  | 16,025 |  | 16,025 |  | 16,025 |  |

Profit for the financial year available for discretionary division among members | - |  | - |  | - |  | - |  |

Members' interests after profit for the year | 50,000 |  | (19,897 | ) | 30,103 |  | 80,103 |  |

Drawings on account and distributions of profit | - |  | (14,690 | ) | (14,690 | ) | (14,690 | ) |

Amount due to members | 50,000 |  | 6,075 |  | 56,075 |  |

Amount due from members | - |  | (40,662 | ) | (40,662 | ) |

Balance at 30th April 2025 | 50,000 |  | (34,587 | ) | 15,413 |  | 65,413 |  |

SRP RISK AND FINANCE LLP (REGISTERED NUMBER: OC336996) |

Reconciliation of Members' Interests

for the year ended 30th April 2025

| EQUITY

| Members' other interests

| Members' |

| capital |

| (classified |

| as |  | Other |

| equity) |  | reserves |  | Total

£ | £ | £ |

Balance at 1st May 2023 | 50,000 |  | - |  | 50,000 |  |

Members' remuneration charged as an expense, including employment and retirement benefit costs | - |  | - |  | - |  |

Profit for the financial year available for discretionary division among members | - |  | - |  | - |  |

Members' interests after profit for the year | 50,000 |  | - |  | 50,000 |  |

Introduced by members | - |  | - |  | - |  |

Repayments of debt (including members' capital classified as a liability) | - |  | - |  | - |  |

Drawings on account and distributions of profit | - |  | - |  | - |  |

Balance at 30th April 2024 | 50,000 |  | - |  | 50,000 |  |

| DEBT | TOTAL

| Loans and other debts due to | MEMBERS'

| members less any amounts due | INTERESTS

| from members in debtors |

| Members' |

| capital |

| (classified |  | Other |

| as debt) |  | amounts |  | Total |  | Total

£ | £ | £ | £ |

Amount due to members | 50,000 |  | 6,000 |  | 56,000 |  |

Amount due from members | - |  | (52,373 | ) | (52,373 | ) |

Balance at 1st May 2023 | 50,000 |  | (46,373 | ) | 3,627 |  | 53,627 |  |

Members' remuneration charged as an expense, including employment and retirement benefit costs | - |  | 15,376 |  | 15,376 |  | 15,376 |  |

Profit for the financial year available for discretionary division among members | - |  | - |  | - |  | - |  |

Members' interests after profit for the year | 50,000 |  | (30,997 | ) | 19,003 |  | 69,003 |  |

Introduced by members | - |  | 75 |  | 75 |  | 75 |  |

Drawings on account and distributions of profit | - |  | (5,000 | ) | (5,000 | ) | (5,000 | ) |

Amount due to members | 50,000 |  | 6,075 |  | 56,075 |  |

Amount due from members | - |  | (41,997 | ) | (41,997 | ) |

Balance at 30th April 2024 | 50,000 |  | (35,922 | ) | 14,078 |  | 64,078 |  |

SRP RISK AND FINANCE LLP (REGISTERED NUMBER: OC336996) |

Statement of Cash Flows

for the year ended 30th April 2025

| 30.4.25 |  | 30.4.24

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 2 | 2,549 |  | 6,278 |  |

Net cash from operating activities | 2,549 |  | 6,278 |  |

Cash flows from investing activities

Interest received | 817 |  | 672 |  |

Net cash from investing activities | 817 |  | 672 |  |

Cash flows from financing activities

Transactions with members and former | members |

Payments to members | (14,690 | ) | (5,000 | ) |

Contributions by members | - |  | 75 |  |

Net cash from financing activities | (14,690 | ) | (4,925 | ) |

(Decrease)/increase in cash and cash equivalents | (11,324 | ) | 2,025 |  |

Cash and cash equivalents at beginning of year | 3 | 59,365 |  | 57,340 |  |

Cash and cash equivalents at end of year | 3 | 48,041 |  | 59,365 |  |

SRP RISK AND FINANCE LLP (REGISTERED NUMBER: OC336996) |

Notes to the Statement of Cash Flows

for the year ended 30th April 2025

1. | CLASSIFICATION OF SHARE OF PROFITS IN THE CASH FLOW STATEMENT

| Share of profit is charged to the profit and loss as members' remuneration expense.

2. | RECONCILIATION OF PROFIT FOR THE FINANCIAL YEAR AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS TO CASH GENERATED FROM OPERATIONS

| 30.4.25 |  | 30.4.24

£ | £ |

| Profit for the financial year available for discretionary division among members | - |  | - |  |

| Members' remuneration charged as an expense | 16,025 |  | 15,376 |  |

| Finance income | (817 | ) | (672 | ) |

15,208 |  | 14,704 |  |

| Increase in trade and other debtors | (12,730 | ) | (8,649 | ) |

| Increase in trade and other creditors | 71 |  | 223 |  |

| Cash generated from operations | 2,549 |  | 6,278 |  |

3. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

| Year ended 30th April 2025

| 30.4.25 |  | 1.5.24

£ | £ |

| Cash and cash equivalents | 48,041 |  | 59,365 |  |

| Year ended 30th April 2024

| 30.4.24 |  | 1.5.23

£ | £ |

| Cash and cash equivalents | 59,365 |  | 57,340 |  |

SRP RISK AND FINANCE LLP (REGISTERED NUMBER: OC336996) |

Notes to the Statement of Cash Flows

for the year ended 30th April 2025

4. | ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

| Other |

| non-cash |

| At 1.5.24 | Cash flow | changes | At 30.4.25

£ | £ | £ | £ |

| Net cash |

| Cash at bank | 59,365 |  | (11,324 | ) | 48,041 |  |

59,365 |  | (11,324 | ) | 48,041 |  |

| Net funds (before

| members' debt) | 59,365 |  | (11,324 | ) | - |  | 48,041 |  |

| Loans and other debts

| due to members

| Members' capital | (50,000 | ) | - |  | - |  | (50,000 | ) |

| Other amounts

| due to members | (6,075 | ) | 14,690 |  | (14,690 | ) | (6,075 | ) |

| Net funds/(debt) | 3,290 |  | 3,366 |  | (14,690 | ) | (8,034 | ) |

5. | NET FUNDS

| The net funds shown above relate only to cash and debt and do not include members' capital.

SRP RISK AND FINANCE LLP (REGISTERED NUMBER: OC336996) |

Notes to the Financial Statements - continued

for the year ended 30th April 2025

1. | STATUTORY INFORMATION

| SRP Risk and Finance 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" 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.

| The members believe that the LLP has adequate resources to continue in operational existence for the foreseeable future having considered the impact of global events on the wider economy. They continue to adopt the going concern basis of accounting in preparing the financial statements.

| Turnover

| Commissions and transaction fees are recognised when the right to receive them becomes unconditional.

3. | OPERATING PROFIT

| The operating profit is stated after charging:

| 30.4.25 |  | 30.4.24

£ | £ |

| Auditors' remuneration | 1,700 |  | 1,600 |  |

| Auditors' remuneration for non audit work | 1,976 |  | 2,071 |  |

4. | INFORMATION IN RELATION TO MEMBERS

| 30.4.25 |  | 30.4.24

£ | £ |

| Members' remuneration charged as an expense |

| Automatic division of profit | 16,025 |  | 15,376 |  |

| 30.4.25 |  | 30.4.24

| The average number of members during the year was | 2 |  | 2 |  |

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

| 30.4.25 |  | 30.4.24

£ | £ |

| Amounts owed by group undertakings | 21,495 |  | 9,495 |  |

| Amounts due from members | 40,662 |  | 41,997 |  |

| Accrued income | 1,424 |  | 694 |  |

63,581 |  | 52,186 |  |

SRP RISK AND FINANCE LLP (REGISTERED NUMBER: OC336996) |

Notes to the Financial Statements - continued

for the year ended 30th April 2025

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

| 30.4.25 |  | 30.4.24

£ | £ |

| Trade creditors | 1 |  | - |  |

| Deferred income | 1,666 |  | 1,666 |  |

| Accrued expenses | 3,880 |  | 3,810 |  |

5,547 |  | 5,476 |  |

7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |

| 30.4.25 |  | 30.4.24

£ | £ |

| Amounts owed to members in respect of profits | 6,075 |  | 6,075 |  |

| Capital account | 50,000 |  | 50,000 |  |

56,075 |  | 56,075 |  |

| Falling due within one year | 56,075 |  | 56,075 |  |

8. | ULTIMATE PARENT COMPANY

| The immediate and ultimate parent undertaking is SRP 2 LLP, an LLP incorporated in England & Wales, by virtue of a 100% share of voting rights.

9. | RELATED PARTY DISCLOSURES

| The LLP has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. | LOANS AND OTHER DEBTS DUE TO MEMBERS

| If the LLP is wound up, and a surplus sum remains at the conclusion of the winding up, after payment of all money due to the creditors of the LLP and all expenses of the winding up, the liquidator shall pay that surplus sum to the members in accordance with the respective proportions to which the members share capital.