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Registered number: OC448418
REDSUMMER SECURITIES LLP
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 JULY 2026
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REDSUMMER SECURITIES LLP
REGISTERED NUMBER: OC448418
BALANCE SHEET
AS AT 31 JULY 2026
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Creditors: Amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Loans and other debts due to members within one year
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Loans and other debts due to members
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REDSUMMER SECURITIES LLP
REGISTERED NUMBER: OC448418
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2026
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.
The entity 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.
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.
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:
Redwood Securities Group Limited
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The notes on pages 4 to 9 form part of these financial statements.
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REDSUMMER SECURITIES LLP
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2026
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Profit for year for discretionary division among members
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Profit for year for discretionary division among members
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REDSUMMER SECURITIES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2026
Redsummer Securities LLP (the 'LLP') is a limited liability partnership incorporated under the Limited Liability Partnership Act 2000 and domiciled in England. The address of the LLP's registered office is 124 Finchley Road, London, NW3 5JS.
2.Accounting policies
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Summary of significant accounting policies
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The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all reporting periods presented, unless otherwise stated.
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Basis of preparation of financial statements
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The financial statements of the LLP have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland, the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".
The preparation of financial statements in conformity with Financial Reporting Standard 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the LLP's accounting policies.
Details of those estimates and/or judgments made in applying the LLP's accounting policies towards the preparation of these financial statements that may be considered as yielding a significant risk of a material adjustment being made to the carrying amounts of assets and/or liabilities reported in the balance sheet during the next financial reporting period are disclosed in note 3 to the financial statements.
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Functional and presentational currency
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Items included in the financial statements of the LLP are measured using the currency of the primary economic environment in which the LLP operates (the "functional currency").
The functional currency of the LLP and the currency in which the financial statements are presented (the "presentational currency") is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.
In assessing whether the going concern basis remains appropriate for the preparation of the financial statements, the members have reviewed the LLP’s principal and emerging risks, access to funding and liquidity position and the LLP's performance up to the date these financial statements were approved and expected performance over the 18 months following the balance sheet date.
Based on their assessment, the members are of the conclusion that the LLP will have, available at its disposal, adequate resources to continue in operational existence for the foreseeable future.
Turnover comprises rental income which is recognised in the period to which it relates and is measured at the fair value of the consideration receivable.
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REDSUMMER SECURITIES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2026
2.Accounting policies (continued)
All borrowing costs are recognised in profit or loss in the year in which they are incurred unless where considered, in the opinion of the members, to be material with respect to the value of the associated capital instrument upon which the respective borrowing costs on issue are initially recognised as a reduction against the proceeds of the associated capital instrument.
Taxation payable on profits of the LLP is the sole liability of the LLP's members. Consequently, neither income taxation nor related deferred taxation is accounted for in the financial statements of the LLP.
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Division and distribution of profits
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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 discretionarily. Discretionary divisions of profits are recognised as amounts due to members, although may be used to offset amounts which have been drawn by members, which are recognised as loan assets repayable.
Profits of the LLP which are not yet divided among the members are shown under 'Other reserves' on the balance sheet, pending a discretionary decision to divide the profits.
Investment property comprises of property held by the LLP to earn income or for capital appreciation, or both.
Investment property is initially recognised at purchase cost plus directly attributable acquisition expenses and subsequently measured at fair value.
Investment properties are not depreciated.
Gains and losses arising from changes in fair value are recognised in profit or loss during the period in which they arise.
Purchases and sales of investment property are recognised when contracts have been unconditionally exchanged and the significant risks and rewards of ownership have been transferred.
An investment property is derecognised for accounting purposes upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying value) is recognised in profit or loss in the period the asset is derecognised.
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REDSUMMER SECURITIES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2026
2.Accounting policies (continued)
The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities; with said financial assets and liabilities classified in accordance with the substance of the underlying contractual obligations rather than its legal form.
Financial assets and liabilities are recognised in the balance sheet upon becoming party to the contractual provisions of the instrument. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or the financial asset is transferred along with substantially all the risks and rewards of ownership of the asset to another party. Financial liabilities are derecognised only when the LLP’s obligations are discharged, cancelled or expired.
The measurement of specific financial assets, financial liabilities and equity held by the LLP is as outlined in notes 2.11 to 2.13 of the financial statements.
Debtors are initially measured at transaction price (i.e fair value) and subsequently held at transaction price less provision for impairment.
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Cash and cash equivalents
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Cash balances are reported by the LLP as being financial instruments classified as short term receivables and are represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours and subject to an insignificant risk of changes in value. Cash balances are held at floating interest rates linked to UK bank rates.
Creditors (excluding bank loans) are initially measured, and subsequently held, at transaction price (i.e fair value).
Bank loans are initially measured at fair value and subsequently held at amortised cost using the effective interest method.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates:
Investment properties
The fair value of investment properties is determined annually by the members on an open market value basis by reference to specific advice from third party experts and available market evidence. In determining the fair value, a number of estimates and assumptions are required based on the property market as a whole and rental yields, nature, location and condition of the specific investment property.
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REDSUMMER SECURITIES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2026
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The entity has no employees.
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Freehold investment property
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The 2026 valuations were made by the members, on an open market value for existing use basis.
Based on the valuation exercise performed, the members are of the opinion that the movement in fair value as at 31 July 2026 from that recognised as at 1 August 2025 is immaterial and does not warrant an adjustment for re-valuation to be recognised as at the balance sheet date.
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Falling due within one year
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Prepayments and accrued income
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Trade debtors falling due within one year are non-interest bearing and, in the opinion of the members, of a fair value not materially different to their carrying value.
At the balance sheet date, the provision for impairment against debtors falling due within one year was £nil.
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REDSUMMER SECURITIES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2026
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Bank loans are secured by virtue of fixed and floating charges with negative pledge over all present and future assets of the Company including a first legal charge over the investment properties held by the LLP.
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Amounts falling due 2-5 years
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REDSUMMER SECURITIES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2026
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Loans and other debts due to members
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Other amounts due to members
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Loans and other debts due to members may be further analysed as follows:
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Falling due within one year
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Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.
The LLP was under the joint and equally shared control of its members.
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