Silverfin false false 31/03/2025 01/04/2024 31/03/2025 G Aspelin 10/03/2023 Marshall Hurley Mitcham and Partners LLP 10/03/2023 A Lodding 10/03/2023 09 January 2026 The principal activity of the company is that of property investment. OC446232 2025-03-31 OC446232 bus:Director1 2025-03-31 OC446232 bus:Director2 2025-03-31 OC446232 bus:Director3 2025-03-31 OC446232 2024-03-31 OC446232 core:CurrentFinancialInstruments 2025-03-31 OC446232 core:CurrentFinancialInstruments 2024-03-31 OC446232 core:Non-currentFinancialInstruments 2025-03-31 OC446232 core:Non-currentFinancialInstruments 2024-03-31 OC446232 core:OtherPropertyPlantEquipment 2024-03-31 OC446232 core:OtherPropertyPlantEquipment 2025-03-31 OC446232 core:CurrentFinancialInstruments core:Secured 2025-03-31 OC446232 core:ImmediateParent core:CurrentFinancialInstruments 2025-03-31 OC446232 core:ImmediateParent core:CurrentFinancialInstruments 2024-03-31 OC446232 core:MoreThanFiveYears 2025-03-31 OC446232 core:MoreThanFiveYears 2024-03-31 OC446232 2024-04-01 2025-03-31 OC446232 bus:FilletedAccounts 2024-04-01 2025-03-31 OC446232 bus:SmallEntities 2024-04-01 2025-03-31 OC446232 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 OC446232 bus:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC446232 bus:Director1 2024-04-01 2025-03-31 OC446232 bus:Director2 2024-04-01 2025-03-31 OC446232 bus:Director3 2024-04-01 2025-03-31 OC446232 core:OtherPropertyPlantEquipment core:TopRangeValue 2024-04-01 2025-03-31 OC446232 2023-04-01 2024-03-31 OC446232 core:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 OC446232 core:CurrentFinancialInstruments 2024-04-01 2025-03-31 OC446232 core:Non-currentFinancialInstruments 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Company No: OC446232 (England and Wales)

# VICTORY COURT MITCHAM LLP

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

VICTORY COURT MITCHAM LLP

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

VICTORY COURT MITCHAM LLP

## STATEMENT OF FINANCIAL POSITION

As at 31 March 2025
VICTORY COURT MITCHAM LLP

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 36,400 |  | 0
|  | 36,400 |  | 0
Current assets |  |  |  |
Stocks |  | 8,080,000 |  | 8,080,000
Debtors | 4 | 448,247 |  | 439,750
Cash at bank and in hand |  | 3,041 |  | 65,964
|  | 8,531,288 |  | 8,585,714
Creditors: amounts falling due within one year | 5 | ( 3,369,333) |  | ( 2,884,573)
Net current assets |  | 5,161,955 |  | 5,701,141
Total assets less current liabilities |  | 5,198,355 |  | 5,701,141
Creditors: amounts falling due after more than one year | 6 | ( 5,262,655) |  | ( 5,686,800)
Net (liabilities)/assets attributable to members |  | ( 64,300) |  | 14,341
Represented by |  |  |  |
Members' other interests |  |  |  |
Members' capital classified as equity |  | (64,300) |  | 14,341
|  | (64,300) |  | 14,341
|  | (64,300) |  | 14,341
Total members' interests |  |  |  |
Members' other interests |  | (64,300) |  | 14,341
|  | (64,300) |  | 14,341

For the financial year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

- The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Victory Court Mitcham LLP (registered number: OC446232) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

A Lodding Designated member |

09 January 2026

VICTORY COURT MITCHAM LLP

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
VICTORY COURT MITCHAM LLP

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

##### General information and basis of accounting

Victory Court Mitcham LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is 69 Queensmill Road, London, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover is recognised by the Company in respect of rental income during the year.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. | 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the LLP during the year | 2 |  | 2

#### 3. Tangible assets

| Plant and machinery etc. |  | Total
| £ |  | £
Cost |  |  |
At 01 April 2024 | 0 |  | 0
Additions | 39,000 |  | 39,000
At 31 March 2025 | 39,000 |  | 39,000
Accumulated depreciation |  |  |
At 01 April 2024 | 0 |  | 0
Charge for the financial year | 2,600 |  | 2,600
At 31 March 2025 | 2,600 |  | 2,600
Net book value |  |  |
At 31 March 2025 | 36,400 |  | 36,400
At 31 March 2024 | 0 |  | 0

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 0 |  | 4,342
Prepayments | 3,247 |  | 2,908
Other debtors | 445,000 |  | 432,500
| 448,247 |  | 439,750

Amounts owed from other debtors are repayable on demand and do not bear interest.

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 365,925 |  | 0
Amounts owed to Parent undertakings | 0 |  | 1
Accruals | 2,500 |  | 2,500
Other creditors | 3,000,908 |  | 2,882,072
| 3,369,333 |  | 2,884,573

The bank loan is secured against the property 360-364 London Road, Mitcham CR4 3ND.
Amounts owed to other creditors are repayable on demand and do not bear interest.

#### 6. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 5,262,655 |  | 5,686,800

The bank loan is secured against the property 360-364 London Road, Mitcham CR4 3ND.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 3,798,954 |  | 3,857,174