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REGISTERED NUMBER: SO305890 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Milton Farming LLP

Milton Farming LLP (Registered number: SO305890)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Milton Farming LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: T M Maclay
Lady E A Maclay





REGISTERED OFFICE: Bell Barr & Company
2 Stewart Street
Milngavie
Glasgow
G62 6BW





REGISTERED NUMBER: SO305890 (Scotland)





ACCOUNTANTS: Bell Barr & Company
Chartered Accountants
2 Stewart Street
Milngavie
Glasgow
G62 6BW

Milton Farming LLP (Registered number: SO305890)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,650,627 2,650,959

CURRENT ASSETS
Debtors 5 118,558 120,334
Cash at bank 100,419 100,590
218,977 220,924
CREDITORS
Amounts falling due within one year 6 12,179 4,076
NET CURRENT ASSETS 206,798 216,848
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

2,857,425

2,867,807

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

980,575

990,957

MEMBERS' OTHER INTERESTS
Capital accounts 1,876,850 1,876,850
2,857,425 2,867,807

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 980,575 990,957
Members' other interests 1,876,850 1,876,850
Amounts due from members 5 (116,779 ) (115,078 )
2,740,646 2,752,729

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 2024.

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.

Milton Farming LLP (Registered number: SO305890)

Balance Sheet - continued
31 March 2024


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

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 27 January 2025 and were signed by:





T M Maclay - Designated member

Milton Farming LLP (Registered number: SO305890)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Milton Farming LLP is registered in Scotland. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Machinery & Equipment - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on cost

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Machinery and Computer
property & Equipment fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 2,650,082 1,609 406 950 2,653,047
DEPRECIATION
At 1 April 2023 - 1,323 253 512 2,088
Charge for year - 72 23 237 332
At 31 March 2024 - 1,395 276 749 2,420
NET BOOK VALUE
At 31 March 2024 2,650,082 214 130 201 2,650,627
At 31 March 2023 2,650,082 286 153 438 2,650,959

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 118,558 120,334

Milton Farming LLP (Registered number: SO305890)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 9,380 830
Other creditors 2,799 3,246
12,179 4,076

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up any amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.