REGISTERED NUMBER: OC432690 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

NORTON 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:

A M Duguid

H R Hunter

REGISTERED OFFICE:

Norton Place

Bishop Norton

Market Rasen

Lincolnshire

LN8 2AX

REGISTERED NUMBER:

OC432690 (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 50% of the shares in a Joint Venture.

DESIGNATED MEMBERS

The designated members during the year under review were:

A M Duguid

H R Hunter

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £660,651 (2024 - £268,804 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

A M Duguid - Designated member

25 September 2025

REVENUE

662,000

270,000

Administrative expenses

1,349

1,196

OPERATING PROFIT and

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

660,651

268,804

FIXED ASSETS

Investments

4

50

50

CURRENT ASSETS

Debtors

5

21,865

153,515

Cash at bank

16,835

120,574

38,700

274,089

CREDITORS

Amounts falling due within one year

6

9,886

14,766

NET CURRENT ASSETS

28,814

259,323

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

28,864

259,373

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

28,814

259,323

MEMBERS' OTHER INTERESTS

Capital accounts

50

50

28,864

259,373

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

28,814

259,323

Members' other interests

50

50

Amounts due from members

5

(1,865

)

-

26,999

259,373

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 25 September 2025 and were signed by:

A M Duguid - Designated member

1.	STATUTORY INFORMATION

Norton 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.

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.

Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Entities in which the limited liability partnership has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

3.	EMPLOYEE INFORMATION

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

4.	FIXED ASSET INVESTMENTS

Interest

in joint

venture

£

COST

At 1 April 2024

and 31 March 2025

50

NET BOOK VALUE

At 31 March 2025

50

At 31 March 2024

50

The LLP's investments at the Balance Sheet date in the share capital of companies include the following:

Joint venture

Hemswell Power Solutions Limited

Registered office: The Control Tower, Hemswell Cliff Industrial Estate, Hemswell Cliff, Gainsborough, Lincolnshire, UK, DN21 5TJ

Nature of business: Sale of electricity

%

Class of shares:

holding

Ordinary

50.00

The limited liability partnership holds a 50% equity shareholding (and voting rights) in Hemswell Power

Solutions Limited, a joint venture. The investment is held at a carrying amount of £50.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

21,865

153,515

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other creditors

9,886

14,766

7.

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.

8.	RELATED PARTY TRANSACTIONS

During the period Hemswell Estates Limited received transactions on behalf of Norton Power Partnership LLP of £nil (2024: £550). The amount due outstanding to Hemswell Estates Limited at 31 March 2025 was £8,686 (2024: £8,686).

Mr A Duguid is a director and shareholder of Hemswell Estates Limited. During the period Adam Duguid & Son received transactions on behalf of Norton Power Partnership LLP of £375 (2024: £nil). The amount due outstanding to Adam Duguid & Son at 31 March 2025 was £nil (2024: £375). Mr A Duguid is the proprietor of Adam Duguid & Son.

The loans are interest free, have no fixed terms for repayment, and are repayable on demand.