BDO LLP
55 Baker Street
London
W1U 7EU
Dear Madams/Sirs
Interim financial information of LendInvest Secured Income II Plc for the period ended 30
September 2024
This representation letter is
provided in connection with your review of the condensed balance
sheet of LendInvest Secured Income II Plc as of 30 September
2024 and the related
condensed statements of income, changes in equity and cash flows
for the 6 month period then ended for the
purposes of expressing a conclusion whether anything has come to
your attention that causes you to believe that the interim
financial information is not prepared, in all material respects, in
accordance with UK adopted International Accounting Standard 34,
"Interim Financial Reporting''
We acknowledge our responsibility
for the preparation and presentation of the interim financial
information in accordance with UK adopted International Accounting
Standard 34, "Interim Financial Reporting''
We confirm, to the best of our
knowledge and belief, the following representations:
• The interim
financial information referred to above has been prepared and
presented in accordance with UK adopted International Accounting
Standard 34, "Interim Financial Reporting''
•
We have made available to you all books of account
and supporting documentation, and all minutes of meetings of
shareholders and the board of directors.
• There are no
material transactions that have not been properly recorded in the
accounting records underlying the interim financial
information.
• There has been
no known actual or possible non-compliance with laws and
regulations that could have a material effect on the interim
financial information in the event of noncompliance.
• We acknowledge
responsibility for the design and implementation of internal
control to prevent and detect fraud and error.
• To the best of
our knowledge, we are not aware of any known fraud or suspected
fraud involving management, or others that may have affected the
entity.
• We have
considered the risk that the interim financial information may be
materially misstated due to fraud and have identified no
risks.
• We confirm the
completeness of the information provided to you regarding the
identification of related parties.
• The following
have been properly recorded and, when appropriate, adequately
disclosed in the interim financial information in accordance with
UK adopted International Accounting Standard 34, "Interim Financial
Reporting''
o Related party transactions, including sales, purchases, loans,
transfers, leasing arrangements and guarantees, and amounts
receivable from or payable to related parties.
To the best of our knowledge there
are no side agreements in any of the related party transactions of
the entity.
•
The interim financial information includes an
explanation of events and transactions that are significant to an
understanding of the changes in financial position and performance
of the entity since the end of 31 March 2024.
We confirm that the disclosures included in the
interim financial information are sufficient.
•
We confirm that the methods, significant
assumptions, and the data used in making the accounting estimates
and the related disclosures are appropriate to achieve recognition,
measurement or disclosure that is in accordance with the applicable
financial reporting framework.
•
In relation the following specific accounting
estimates: Impairment and Fair valuation of loans and advances. We
confirm;
•
that the significant judgments made in making the
accounting estimates have taken into account all relevant
information of which we are aware.
•
that we have considered the consistency and
appropriateness in the selection or application of the methods
while preparing estimates.
•
we have used the appropriate assumptions and data,
to the best of our knowledge in making the accounting
estimates.
•
that the assumptions appropriately reflect our
intent and ability to carry out
specific courses of action on behalf
of the entity, when relevant to the accounting
estimates and disclosures.
• that disclosures include the
nature and amount of changes in estimates of amounts reported in
prior interim periods of the current financial year or changes in
estimates of amounts reported in prior financial years.
•
that appropriate specialized skills or expertise
has been applied in making the
accounting estimates.
•
that no subsequent event requires adjustment to the
accounting estimates and related disclosures included in the
interim financial information.
• We have no plans
or intentions that may materially affect the carrying value or
classification of assets and liabilities reflected in the interim
financial information.
• We have no plans
to abandon lines of product or other plans or intentions that will
result in any excess or obsolete inventory, and no inventory is
stated at an amount in excess of realizable value.
• The entity has
satisfactory title to all assets and there are no liens or
encumbrances on the entity's assets.
• We have recorded
or disclosed, as appropriate, all liabilities, both actual and
contingent.
• We consider that
LendInvest Secured Income II Plc is able to continue to
operate as a going concern and that it is appropriate to prepare
the interim financial information on a going concern basis.
Furthermore, we confirm that the disclosures included in note 1.3
to the interim financial information are sufficient.
•
We confirm that we have informed you of any actual
or potential non-compliance with the laws and regulations
prescribed by the Financial Services and Markets Act 2000 and
Financial Services Act 2012 and any known breaches of the Financial
Conduct Authority rules.
•
Any complaints received in respect of regulated
business and any events, which involve possible non-compliance with
the Financial Conduct Authority rules have been disclosed to you
and appropriately provided for and disclosed in the financial
statements, where applicable.
•
All communication with the Financial Conduct
Authority including correspondence, minutes of meetings and notes
of inspection visits have been made available to you.
•
We acknowledge our responsibility for ensuring that
the accounting records and systems of control have been established
and maintained in accordance with the Financial Conduct Authority
rules. We confirm that the company has kept proper accounting
records for the period ended 30 September 2024 .
To the best of our knowledge and
belief, no events have occurred subsequent to the balance sheet
date and through the date of this letter that may require
adjustment to or disclosure in the aforementioned interim financial
information.
Yours faithfully
Roderick Lockhart
(Signed on behalf of the board of
directors)
Date: 6 December 2024