Rowark Investments LLP

	Page
Balance Sheet	1—2
Reconciliation of Members' Interests	3—4
Notes to the Financial Statements	4—7

	EQUITY	DEBT
	Members' other interests	Loans and other debts due to members less any amounts due from members in debtors
	Other Reserves	Other amounts	Total members' interest
	£	£	£
Amounts due to members	-	3,557,893	-

Balance at 1 April 2024	1,320,415	3,557,893	4,878,308
Members' remuneration charged as an expense, including employment and retirement benefit costs	-	109,249	109,249
Profit/(loss) for the financial year available for discretionary division among members	-	-	-

Members' interests after profit/(loss) for the year	1,320,415	3,667,142	4,987,557
Drawings	-	(306,000)	(306,000)

Amounts due to members	-	3,361,142	-

As at 31 March 2025 and 1 April 2025	1,320,415	3,361,142	4,681,557


Members' remuneration charged as an expense, including employment and retirement benefit costs	-	88,377	88,377
Profit/(loss) for the financial year available for discretionary division among members	-	-	-

Members' interests after profit/(loss) for the year	1,320,415	3,449,519	4,769,934
Other divisions of profits (losses)	(62,000)	62,000	-
Drawings	-	(36,000)	(36,000)

Amounts due to members	-	3,475,519	-

As at 31 March 2026	1,258,415	3,475,519	4,733,934

1. General Information

Rowark Investments LLP is a limited liability partnership, incorporated in England & Wales, registered number OC381124 . The Registered Office is 212 Edgwarebury Lane, Edgware, HA8 8QW.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in May 2024 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

The financial statements have been prepared under the historical cost convention, . The principal accounting policies adopted are set out below

2.2. Turnover

Turnover represents rents receivable.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Investment properties	not being depreciated
Plant & Machinery	15% straight line

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.5. Financial Instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

...CONTINUED

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Rowark Investments LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.5. Financial Instruments - continued

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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.

Other financial liabilities

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the limited liability partnership’s obligations expire or are discharged or cancelled.

2.6. Impairment of fixed assets

At each reporting period end date, the limited liability partnership reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the limited liability partnership estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

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Rowark Investments LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.7. 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 current liabilities.

2.8. Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Capital contributed by members and undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: NIL (2025: NIL)

4. Tangible Assets

	Investment Properties	Plant & Machinery	Total
	£	£	£
Cost or Valuation
As at 1 April 2025	6,992,000	45,189	7,037,189
Revaluation	(62,000 )	-	(62,000 )

As at 31 March 2026	6,930,000	45,189	6,975,189

Depreciation
As at 1 April 2025	-	45,189	45,189

As at 31 March 2026	-	45,189	45,189

Net Book Value
As at 31 March 2026	6,930,000	-	6,930,000

As at 1 April 2025	6,992,000	-	6,992,000

The valuation of investment properties were made as at 31 March 2026 by the members of the LLP, on an open market basis. No depreciation is provided in respect of these properties.

On an historical cost basis these would have been included at an original cost of £5,849,228 (2025 - £5,849,228).

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Rowark Investments LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

5. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	5,542	5,227
Other debtors	30,655	32,426

	36,197	37,653

6. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	12,488	13,968
Bank loans and overdrafts	1,846,536	79,747
Amounts owed to group undertakings	68,000	75,500
Other creditors	34,307	45,067

	1,961,331	214,282

7. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Bank loans	-	1,860,361
Other loans > 1 year	295,000	295,000

	295,000	2,155,361

Bank loans were repaid after date as part of a refinancing exercise and have therefore been treated as loans repayable due within 1 year (see note 6),

8. Related Party Transactions

The LLP has loans from Members as follows:

- Warren Ramesh - £270,000 (2025: £270,000) - interest at 5.5% fixed - Interest charged £14,850 (2024: £14,850)

- CD London Property Limited - £68,000 (2025: £75,500) - interest at base rate +3% - Interest charged £4,919 (2025: £5,237)

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		6,930,000		6,992,000

			6,930,000		6,992,000
CURRENT ASSETS
Debtors	5	36,197		37,653
Cash at bank and in hand		24,068		21,547

		60,265		59,200
Creditors: Amounts Falling Due Within One Year	6	(1,961,331 )		(214,282 )

NET CURRENT ASSETS (LIABILITIES)			(1,901,066 )		(155,082 )

TOTAL ASSETS LESS CURRENT LIABILITIES			5,028,934		6,836,918

Creditors: Amounts Falling Due After More Than One Year	7		(295,000 )		(2,155,361 )

NET ASSETS ATTRIBUTABLE TO MEMBERS			4,733,934		4,681,557

REPRESENTED BY:
Loans and other debts due to members
Other amounts		3,475,519		3,361,142

			3,475,519		3,361,142

Equity
Members' other interests
Other reserves		1,258,415		1,320,415

			1,258,415		1,320,415

			4,733,934		4,681,557