SFG Property 2 LLP - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: OC413455 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

SFG Property 2 LLP

Page

General Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DESIGNATED MEMBERS:

P S D Storey

B C Gower

REGISTERED OFFICE:

St Johns House

16 Church Street

Bromsgrove

Worcestershire

B61 8DN

REGISTERED NUMBER:

OC413455 (England and Wales)

ACCOUNTANTS:

Clay GBP Ltd

St Johns House

16 Church Street

Bromsgrove

Worcestershire

B61 8DN

CURRENT ASSETS

Stocks

2,007,443

1,823,026

Debtors

914,006

826,687

Cash at bank

17,499

183,276

2,938,948

2,832,989

CREDITORS

Amounts falling due within one year

1,640,598

1,523,285

NET CURRENT ASSETS

1,298,350

1,309,704

TOTAL ASSETS LESS CURRENT LIABILITIES

1,298,350

1,309,704

CREDITORS

Amounts falling due after more than one year

4

1,298,350

1,309,704

NET LIABILITIES ATTRIBUTABLE TO MEMBERS

-

-

LOANS AND OTHER DEBTS DUE TO MEMBERS

-

-

TOTAL MEMBERS' INTERESTS

Amounts due from members

(901,056

)

(809,237

)

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2023.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 14 December 2023 and were signed by:

P S D Storey - Designated member

1.	STATUTORY INFORMATION

SFG Property 2 LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2022 - NIL).

4.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2023

2022

£

£

Repayable by instalments

Bank loans more 5 yr by instal

1,277,500

1,277,500

5.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Mortgage

1,277,500

1,277,500

The mortgage is secured by way of a fixed charge over the property development included in stocks.