Limited Liability Partnership Registration No. SO301745 (Scotland)
Beinn Nan Oighrean LLP
Annual report and unaudited financial statements
for the year ended 31 March 2025
Pages for filing with the registrar
Beinn Nan Oighrean LLP
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
Beinn Nan Oighrean LLP
Statement of financial position
As at 31 March 2025
1
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
2
898,706
1,123,482
Current assets
Stocks
11,195
-
0
Debtors
3
623,411
336,817
Cash at bank and in hand
111,934
82,488
746,540
419,305
Creditors: amounts falling due within one year
4
(39,486)
(216,991)
Net current assets
707,054
202,314
Total assets less current liabilities and net assets attributable to members
1,605,760
1,325,796
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
1,605,760
1,325,796

T he members of the limited liability partnership have elected not to include a copy of the income statement within the financial statements.

For the financial year ended 31 March 2025 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The financial statements were approved by the members and authorised for issue on 1 September 2025 and are signed on their behalf by:
01 September 2025
Callum Carmichael – Joint Administrator of RockBySea Scotland Limited
Midfearn Renewables Limited
Designated member
Designated Member
Limited Liability Partnership registration number SO301745 (Scotland)
Beinn Nan Oighrean LLP
Notes to the financial statements
For the year ended 31 March 2025
2
1
Accounting policies
Limited liability partnership information

Beinn Nan Oighrean LLP is a limited liability partnership incorporated in Scotland. The registered office is c/o Saffery LLP, Torridon House, Beechwood Park, Inverness, IV2 3BW.

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover consists of sales of electricity and Renewable Obligation Certificates (ROCs) and is net of VAT. Revenue for sales of electricity and ROCs is recognised in the period in which the electricity is generated. Revenue for the recycled element of ROCs is recognised when the payments are awarded.

1.3
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the m embers' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

Beinn Nan Oighrean LLP
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies (continued)
3
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Wind turbines
5% per annum straight line basis
Fixtures, fittings and equipment
25% per annum reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to net realisable value.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Beinn Nan Oighrean LLP
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies (continued)
4
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024 and 31 March 2025
4,492,206
Depreciation and impairment
At 1 April 2024
3,368,724
Depreciation charged in the year
224,776
At 31 March 2025
3,593,500
Carrying amount
At 31 March 2025
898,706
At 31 March 2024
1,123,482
3
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
623,411
336,817
Beinn Nan Oighrean LLP
Notes to the financial statements (continued)
For the year ended 31 March 2025
5
4
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
9,671
19,617
Other creditors
29,815
197,374
39,486
216,991
5
Loans and other debts due to members

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

6
Operating lease commitments
Lessee

At the reporting end date the limited liability partnership had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
31,914
36,218
7
Members' transactions

During the year Beinn Nan Oighrean LLP leased land owned by Midfearn Renewables Limited for £6,405 (20 24 - £6,205). A management charge of £10,000 (2024 - £10,000) was charged by both Midfearn Farm and RockBySea Scotland Limited to Beinn Nan Oighrean LLP.

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