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REGISTERED NUMBER: SO306711 (Scotland)

| Unaudited Financial Statements |

| for the Year Ended 31 March 2025 |

| for |

| Benchmark4 LLP |

Benchmark4 LLP (Registered number: SO306711)

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

General Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Benchmark4 LLP

General Information

for the Year Ended 31 March 2025

| DESIGNATED MEMBERS: | Gladsmuir Solutions Limited

| C Veitch

| REGISTERED OFFICE: | Strawberry Wood

| East Saltoun

| Pencaitland

| East Lothian

| EH34 5DY

| REGISTERED NUMBER: | SO306711 (Scotland)

| ACCOUNTANTS: | APT

| 44 The Pantiles

| Tunbridge Wells

| Kent

| TN2 5TN

Benchmark4 LLP (Registered number: SO306711)

Balance Sheet

31 March 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 206,882 |  | 164,598 |  |

Investment property | 5 | 4,167,000 |  | 4,122,000 |  |

4,373,882 |  | 4,286,598 |  |

CURRENT ASSETS

Debtors | 6 | 1,199 |  | - |  |

Cash at bank | 56,612 |  | 24,550 |  |

57,811 |  | 24,550 |  |

CREDITORS

Amounts falling due within one year | 7 | 42,919 |  | 40,871 |  |

NET CURRENT ASSETS/(LIABILITIES) | 14,892 |  | (16,321 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 4,388,774 |  | 4,270,277 |  |

CREDITORS

Amounts falling due after more than one year | 8 | 198,052 |  | 172,869 |  |

NET ASSETS ATTRIBUTABLE TO MEMBERS | 4,190,722 |  | 4,097,408 |  |

Benchmark4 LLP (Registered number: SO306711)

Balance Sheet - continued

31 March 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

LOANS AND OTHER DEBTS DUE TO MEMBERS | 10 | 61,143 |  | - |  |

MEMBERS' OTHER INTERESTS

Capital accounts | 4,129,579 |  | 4,097,408 |  |

4,190,722 |  | 4,097,408 |  |

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members | 10 | 61,143 |  | - |  |

Members' other interests | 4,129,579 |  | 4,097,408 |  |

4,190,722 |  | 4,097,408 |  |

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 2025.

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.

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 24 June 2025 and were signed by:

C Veitch - Designated member

Benchmark4 LLP (Registered number: SO306711)

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Benchmark4 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 as modified by the revaluation of certain assets.

| The functional and presentational currency of the LLP is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

| Significant judgements and estimates

| Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

| Rental income is recognised on an accruals basis in accordance with the substance of the relevant agreement.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Plant and machinery etc | - | 20% on cost

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Financial instruments

| Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, 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.

| Such assets are subsequently carried at amortised cost, using the effective interest rate method.

| Basic financial liabilities including trade and other payables 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 receipts discounted at a market rate of interest.

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

Benchmark4 LLP (Registered number: SO306711)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Pension costs and other post-retirement benefits

| The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

| Provision for liabilities

| Provisions are recognised when the LLP has a present obligation (legal or constructive) as a result of a past event, it is probable that the LLP will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

| The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

| Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

3. | EMPLOYEES

| The average number of employees during the year was 1 (2024 - 1 ) .

Benchmark4 LLP (Registered number: SO306711)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 April 2024 | 193,593 |  |

| Additions | 100,657 |  |

| At 31 March 2025 | 294,250 |  |

| DEPRECIATION

| At 1 April 2024 | 28,995 |  |

| Charge for year | 58,373 |  |

| At 31 March 2025 | 87,368 |  |

| NET BOOK VALUE

| At 31 March 2025 | 206,882 |  |

| At 31 March 2024 | 164,598 |  |

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Plant and

| machinery

| etc

£ |

| COST

| At 1 April 2024 | 182,172 |  |

| Additions | 93,410 |  |

| At 31 March 2025 | 275,582 |  |

| DEPRECIATION

| At 1 April 2024 | 21,253 |  |

| Charge for year | 55,116 |  |

| At 31 March 2025 | 76,369 |  |

| NET BOOK VALUE

| At 31 March 2025 | 199,213 |  |

| At 31 March 2024 | 160,919 |  |

Benchmark4 LLP (Registered number: SO306711)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 April 2024 | 4,122,000 |  |

| Revaluations | 45,000 |  |

| At 31 March 2025 | 4,167,000 |  |

| NET BOOK VALUE

| At 31 March 2025 | 4,167,000 |  |

| At 31 March 2024 | 4,122,000 |  |

| Fair value at 31 March 2025 is represented by:

£ |

| Valuation in 2022 | 66,999 |  |

| Valuation in 2023 | 253,500 |  |

| Valuation in 2025 | 45,000 |  |

| Cost | 3,801,501 |  |

4,167,000 |  |

| If investment property had not been revalued it would have been included at the following historical cost:

| 31.3.25 |  | 31.3.24

£ | £ |

| Cost | 3,801,501 |  | 3,801,501 |  |

| Investment property was valued on an open market basis on 31 March 2025 by the designated members .

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Other debtors | 1,199 |  | - |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Bank loans and overdrafts | 13,575 |  | 13,575 |  |

| Hire purchase contracts | 23,637 |  | 16,933 |  |

| Other creditors | 5,707 |  | 10,363 |  |

42,919 |  | 40,871 |  |

Benchmark4 LLP (Registered number: SO306711)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Bank loans | 59,436 |  | 73,061 |  |

| Hire purchase contracts | 138,616 |  | 99,808 |  |

198,052 |  | 172,869 |  |

9. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.3.25 |  | 31.3.24

£ | £ |

| Hire purchase contracts | 162,253 |  | 116,741 |  |

10. | LOANS AND OTHER DEBTS DUE TO MEMBERS |

| Loans due to members rank on a par with other unsecured creditors and have no preference attached.

11. | OTHER FINANCIAL COMMITMENTS

| The investment properties secure loans totalling £2,301,144 (2024 £2,360,891) advanced to the LLP member Gladsmuir Solutions Limited at 31 March 2024. There is also a floating charge in relation to the LLP assets.