LAXFIELD LLP

• ⚠

  Material uncertainty over going concern

  During the year, the Designated Members have taken the decision to cease trading and therefore changed the basis of preparing its financial statements from going concern to other than going concern. In accordance with IAS 1, Presentation of Financial Statements, ("IAS 1"), the Partnership changed the basis of preparing its financial statements from going concern to other than going concern due to the Partnership's decision to cease trading once the loans are all resolved within the foreseeable future after signing of these financial statements. The Designated Members reviewed the Partnership's costs expected to be incurred during the wind up, including administrative costs and professional fees expected to be incurred in future periods until the dissolution of the Partnership is completed. The Designated Members are satisfied that the Partnership has sufficient resources to enable the orderly winding up of the Partnership and meet liabilities as they fall due. As such, no adjustment to the financial statements is required as at the year-end.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

RSM UK Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“During the year, the Designated Members have taken the decision to cease trading and therefore changed the basis of preparing its financial statements from going concern to other than going concern. In accordance with IAS 1, Presentation of Financial Statements, ("IAS 1"), the Partnership changed the basis of preparing its financial statements from going concern to other than going concern due to the Partnership's decision to cease trading once the loans are all resolved within the foreseeable future after signing of these financial statements. The Designated Members reviewed the Partnership's costs expected to be incurred during the wind up, including administrative costs and professional fees expected to be incurred in future periods until the dissolution of the Partnership is completed. The Designated Members are satisfied that the Partnership has sufficient resources to enable the orderly winding up of the Partnership and meet liabilities as they fall due. As such, no adjustment to the financial statements is required as at the year-end.”

Significant events

• “During the period from the end of March 2025 to signing of the accounts, the junior note position was repaid, following the realisation of the remaining assets in that portfolio. Due to circumstances that arose after the year end and were not foreseen at 31 March 2025, the final recoverable amount on the junior note was in excess of the balance held at year-end, resulting in the reversal of an expected credit loss of £3,492,500.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -40.8%

  £20,631,210 → £12,219,929

• Cash

  +1,032.3%

  £143,922 → £1,629,657

• Net assets

  -65.4%

  £195,810,302 → £67,701,876

• Employees

  —

  Not reported

• Operating profit

  +25.9%

  £1,975,159 → £2,487,649

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers