| Seyi & Svelte Living Investments LLP |
| Registered number: |
OC421231 |
| Balance Sheet |
| as at 31 August 2025 |
| Notes |
|
2025 |
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
311,735 |
|
311,735 |
| Current assets |
|
|
|
|
|
| Debtors |
4 |
|
325,943 |
|
328,383 |
| Cash at bank and in hand |
|
|
3,722 |
|
6,149 |
|
|
|
329,665 |
|
334,532 |
|
| Creditors: amounts falling due within one year |
5 |
|
(610) |
|
(1,143) |
|
| Net current assets |
|
|
329,055 |
|
333,389 |
|
|
|
|
|
|
| Total assets less current liabilities |
|
|
640,790 |
|
645,124 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
(236,933) |
|
(240,056) |
|
|
| Net assets attributable to members |
403,857 |
|
405,068 |
|
|
|
|
|
|
| Represented by: |
| Loans and other debts due to members |
7 |
|
2,213 |
|
1,400 |
|
|
|
|
|
|
| Members' other interests |
| Members' capital classified as equity |
|
|
322,000 |
|
322,000 |
| Other reserves |
|
|
79,644 |
|
81,668 |
|
|
|
401,644 |
|
403,668 |
|
|
|
|
|
|
|
|
|
403,857 |
|
405,068 |
|
|
|
|
|
|
| Total members' interests |
| Loans and other debts due to members |
7 |
|
2,213 |
|
1,400 |
| Members' other interests |
|
|
401,644 |
|
403,668 |
|
|
|
|
403,857 |
|
405,068 |
|
|
|
|
|
|
| For the year ended 31 August 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs). |
| The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
| These accounts were approved by the members on 10 July 2026 and signed on their behalf by: |
|
|
| Oluseyi Adeola Odunuga |
| Designated member |
|
| Seyi & Svelte Living Investments LLP |
| Notes to the Accounts |
| for the year ended 31 August 2025 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Division of profits |
|
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account. |
|
|
Taxation |
|
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members. |
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Investment properties |
Not depreciated |
|
Plant and machinery |
Varies |
|
|
Fixed Assets- Investment Properties |
|
Investment properties are included at fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. |
|
|
Accounting Policy |
|
Investment properties are recognised initially at cost, including transaction costs. Subsequently, they are measured at fair value at each reporting date in accordance with FRS 102 Section 1a. Changes in fair value are recognised in the profit and loss account in the period in which they arise. Investment properties are not depreciated. Fair value represents the amount for which the property could be exchanged between knowledgeable, willing parties in an arm’s-length transaction at the reporting date. The company obtains fair values from independent valuers or by using directors’ valuations supported by market data. |
|
|
|
|
|
Because fair value gains and losses are unrealised, they do not create distributable profits. |
|
|
Carrying Amount of Investment Property |
|
|
At 1 September 2024 |
|
|
|
|
|
|
311,734.94 |
|
|
Fair value movement recognised in profit and loss |
|
|
|
0.00 |
|
|
At 31 August 2025 |
|
|
|
|
|
|
311,734.94 |
|
|
Fair Value Measurement |
|
|
The fair value of the investment property has been determined using a directors’ valuation based on market evidence of similar properties and recent transactions. The valuation reflects current market conditions at the reporting date. There are no restrictions on the realisability of the property or the remittance of income and proceeds of disposal. |
|
|
The company has no contractual obligations to purchase, construct, or develop investment property or for repairs, maintenance, or enhancements other than routine commitments. |
|
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Members' capital |
|
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional. |
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
Average number of persons employed by the LLP |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Plant and machinery etc |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 September 2024 |
311,735 |
|
8,004 |
|
319,739 |
|
At 31 August 2025 |
311,735 |
|
8,004 |
|
319,739 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 September 2024 |
- |
|
8,004 |
|
8,004 |
|
At 31 August 2025 |
- |
|
8,004 |
|
8,004 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 August 2025 |
311,735 |
|
- |
|
311,735 |
|
At 31 August 2024 |
311,735 |
|
- |
|
311,735 |
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
Other debtors |
325,943 |
|
328,383 |
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
Other creditors |
610 |
|
1,143 |
|
| 6 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
Bank loans |
236,933 |
|
240,056 |
|
| 7 |
Loans and other debts due to members |
2025 |
|
2024 |
| £ |
£ |
|
Loans from members |
2,213 |
|
1,400 |
|
|
|
|
|
|
|
|
|
|
Amounts falling due within one year |
2,213 |
|
1,400 |
|
|
|
|
|
|
|
|
|
|
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up. |
|
| 8 |
Other information |
|
Seyi & Svelte Living Investments LLP is a limited liability partnership incorporated in England. Its registered office is: |
|
82a James Carter Road |
|
Bury St. Edmunds |
|
Suffolk |
|
England |
|
IP28 7DE |