REGISTERED NUMBER: OC378164 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

HEMSWELL POWER PARTNERSHIP LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

to

6

DESIGNATED MEMBERS:

H E Duguid

S A C Duguid

A M Duguid

REGISTERED OFFICE:

Norton Place

Bishop Norton

Market Rasen

Lincolnshire

LN8 2AX

REGISTERED NUMBER:

OC378164 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

14 London Road

Newark

Nottinghamshire

NG24 1TW

The members present their report with the financial statements of the LLP for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of holding a licence.

DESIGNATED MEMBERS

The designated members during the year under review were:

H E Duguid

S A C Duguid

A M Duguid

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £81,086 (2024 - £27,453 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

A M Duguid - Designated member

24 September 2025

REVENUE

88,000

29,333

Administrative expenses

17,004

1,880

70,996

27,453

Other operating income

10,090

-

OPERATING PROFIT and

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

81,086

27,453

FIXED ASSETS

Property, plant and equipment

5

112,750

112,750

CURRENT ASSETS

Debtors

6

-

16,010

Cash at bank

27,483

10,617

27,483

26,627

CREDITORS

Amounts falling due within one year

7

15,667

17,302

NET CURRENT ASSETS

11,816

9,325

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

124,566

122,075

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

11,805

9,314

MEMBERS' OTHER INTERESTS

Capital accounts

112,761

112,761

124,566

122,075

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

11,805

9,314

Members' other interests

112,761

112,761

124,566

122,075

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 in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 24 September 2025 and were signed by:

A M Duguid - Designated member

1.	STATUTORY INFORMATION

Hemswell Power Partnership LLP is registered in England and Wales. 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.

Revenue

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

Revenue is recognised when the significant risks and rewards have passed to the customer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and that the costs incurred, or to be incurred, in respect of the transaction, can be measured reliably.

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimates useful life.

Freehold property - no depreciation

Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members' 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.

Where there exists an asset and liability component in respect of an individual member's participation rights,they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts, and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented net.

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.

3.	EMPLOYEE INFORMATION

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

4.	EXCEPTIONAL ITEMS

Period

1.12.23

Year Ended

to

31.3.25

31.3.24

£

£

Loan write off

(16,000

)

-

5.	PROPERTY, PLANT AND EQUIPMENT

Land and

buildings

£

COST

At 1 April 2024

and 31 March 2025

112,750

NET BOOK VALUE

At 31 March 2025

112,750

At 31 March 2024

112,750

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

-

16,010

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other creditors

15,667

17,302

8.

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.