ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: 14414138

SWP SPV2 LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2025

SWP SPV2 LIMITED

REGISTERED NUMBER: 14414138

STATEMENT OF FINANCIAL POSITION

AS AT 31 OCTOBER 2025

		2025		2024
Note		£		£

Fixed assets
Freehold property	4		4,153,512		-
			4,153,512		-
Current assets
Stocks	5	-		1,074,902
Cash at bank and in hand	6	8,877		-
		8,877		1,074,902
Creditors: amounts falling due within one year	7	(12,223)		(463,917)
Net current (liabilities)/assets			(3,346)		610,985
Total assets less current liabilities			4,150,166		610,985
Creditors: amounts falling due after more than one year	8		(4,153,765)		(613,384)

Net liabilities			(3,599)		(2,399)

Capital and reserves
Called up share capital	1	1
Profit and loss account	(3,600)	(2,400)
	(3,599)	(2,399)

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SWP SPV2 LIMITED

REGISTERED NUMBER: 14414138

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 OCTOBER 2025

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 October 2026.

F G Roberts

Director

The notes on pages 3 to 7 form part of these financial statements.

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SWP SPV2 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

1.	General information

SWP SPV2 Limited is a private company limited by shares and incorporated in England and Wales (registered number 14414138). The registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.

The financial statements are presented in Sterling, which is the functional currency of the company.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. Given that the company is in a net deficit position the directors have obtained assurances from its immediate and ultimate parent company to continue to provide adequate funds to meet its obligations, and not to demand repayment of any funds to them, until the company is in a financial position to do so.

As a result, the directors consider it appropriate to prepare the financial statements on a going concern basis.

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SWP SPV2 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

2.Accounting policies (continued)

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Borrowing costs

Borrowing cost directly attributable to acquisition, construction and production of qualifying asset are capitalised. All the other borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.5

Freehold property

Freehold property is carried at fair value determined annually by external valuers 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. Changes in fair value are recognised in profit or loss.

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SWP SPV2 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

2.Accounting policies (continued)

2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 1 (2024 - 1).

4.	Freehold property

		Freehold investment property
		£
	Valuation
	Additions at cost	4,153,512
	At 31 October 2025	4,153,512

The 2025 valuations were made by directors, on an open market value basis.

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SWP SPV2 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

5.	Stocks
		2025	2024
		£	£

Property stock	-	1,074,902
	-	1,074,902

6.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	8,877	-
	8,877	-

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	11,023	138,429
Amounts owed to group undertakings	-	324,288
Accruals and deferred income	1,200	1,200
	12,223	463,917

8.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	3,858,917	613,384
Amounts owed to group undertakings	294,848	-
	4,153,765	613,384

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SWP SPV2 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025



Amounts falling due 2-5 years
Bank loans	3,858,917	613,384
	3,858,917	613,384

	3,858,917	613,384

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