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REGISTERED NUMBER: SO305595

Mill and Millard LLP

Unaudited Financial Statements

31 March 2025

Mill and Millard LLP

Financial Statements

Period from 1 November 2023 to 31 March 2025

Contents | Page

Members' report | 1

Report to the members on the preparation of the unaudited statutory financial statements | 2

Statement of comprehensive income | 3

Statement of financial position | 4

Reconciliation of members' interests | 6

Notes to the financial statements | 8

Mill and Millard LLP

Members' Report

Period from 1 November 2023 to 31 March 2025
The members present their report and the unaudited financial statements of the LLP for the period ended 31 March 2025 .
Principal activities
The principal activity of the company during the year was that of solicitors.
Designated members
The designated members who served the LLP during the period were as follows:

Richard Mill |
Lucy Millard |

Policy regarding members' drawings and the subscription and repayment of amounts subscribed or otherwise contributed by members
Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.
New members are required to subscribe a minimum level of capital and in subsequent years members are invited to subscribe for further capital, the amounts of which is determined by the performance and seniority of those members. On retirement, capital is repaid to members.
This report was approved by the members on 9 October 2025 and signed on behalf of the members by:

Richard Mill
Designated Member

Registered office:
69-71 Dalry Road
Edinburgh
EH11 2AA

Mill and Millard LLP

Report to the Members on the Preparation of the Unaudited Statutory Financial Statements of Mill and Millard LLP

Period from 1 November 2023 to 31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006 as applied to limited liability partnerships by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Mill and Millard LLP for the period ended 31 March 2025, which comprise the statement of comprehensive income, statement of financial position, reconciliation of members' interests and the related notes from the LLP's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. Our work has been undertaken in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance.
PATERSON BOYD & CO LIMITED Chartered accountants
18 North Street Glenrothes Fife KY7 5NA
9 October 2025

Mill and Millard LLP

Statement of Comprehensive Income

Period from 1 November 2023 to 31 March 2025

| Period from |
| 1 Nov 23 to | Year to
| 31 Mar 25 | 31 Oct 23
Note | £ | £
Turnover | 699,247 | 445,208

| ----------- | -----------
Gross profit | 699,247 | 445,208

Administrative expenses | 427,930 | 241,287
|  | ----------- | -----------
Operating profit | 5 | 271,317 | 203,921

Other interest receivable and similar income | 1,176 | 488
Interest payable and similar expenses | 817 | 307
| ----------- | -----------
Profit for the financial period before members' remuneration and profit shares available for discretionary division among members | 271,676 | 204,102
| ----------- | -----------

All the activities of the LLP are from continuing operations.

Mill and Millard LLP

Statement of Financial Position

31 March 2025

| 31 Mar 25 | 31 Oct 23
Note | £ | £ | £

Fixed assets

Tangible assets | 6 |  | 4,714 | 8,077

Current assets

Stocks | 19,988 |  | 17,736
Debtors | 7 | 63,282 |  | 78,559
Cash at bank and in hand | 135,004 |  | 110,824
| ----------- |  | -----------
| 218,274 |  | 207,119

Creditors: amounts falling due within one year | 8 | 40,292 |  | 41,176
| ----------- |  | -----------
Net current assets |  | 177,982 | 165,943
|  | ----------- | -----------
Total assets less current liabilities |  | 182,696 | 174,020
|  | ----------- | -----------
Net assets |  | 182,696 | 174,020
|  | ----------- | -----------

Represented by:
Loans and other debts due to members

Other amounts | 9 |  | 182,696 | 174,020
|  | ----------- | -----------

Members' other interests

Other reserves |  | – | –
|  | ----------- | -----------
|  | 182,696 | 174,020
|  | ----------- | -----------

Total members' interests

Loans and other debts due to members | 9 |  | 182,696 | 174,020
Members' other interests |  | – | –
|  | ----------- | -----------
|  | 182,696 | 174,020
|  | ----------- | -----------

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the period ending 31 March 2025 the LLP 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 LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .

Mill and Millard LLP

Statement of Financial Position (continued)

31 March 2025
These financial statements were approved by the members and authorised for issue on 9 October 2025 , and are signed on their behalf by:

Richard Mill
Designated Member

Registered number: SO305595

Mill and Millard LLP

Reconciliation of Members' Interests

Period from 1 November 2023 to 31 March 2025

| Members' other interests | Loans and other debts due to members less any amounts due from members in debtors | Total members' interests
| Other reserves | Total | Other amounts | Total | Total 31 Mar 25
| £ | £ | £ | £ | £
Balance at 1 November 2023 | – | – | 174,020 | 174,020 | 174,020
Profit for the financial period available for discretionary division among members | 271,676 | 271,676 |  |  | 271,676
| ----------- | ----------- | ----------- | ----------- | -----------
Members' interests after profit for the period | 271,676 | 271,676 | 174,020 | 174,020 | 445,696
Other division of profits | (271,676) | (271,676) | 271,676 | 271,676 | –
Drawings |  |  | (263,000) | (263,000) | (263,000)
| ----------- | ----------- | ----------- | ----------- | -----------
Balance at 31 March 2025 | – | – | 182,696 | 182,696 | 182,696
| ----------- | ----------- | ----------- | ----------- | -----------

Mill and Millard LLP

Reconciliation of Members' Interests (continued)

Period from 1 November 2023 to 31 March 2025

| Members' other interests | Loans and other debts due to members less any amounts due from members in debtors | Total members' interests
| Other reserves | Total | Other amounts | Total | Total 2023
| £ | £ | £ | £ | £
Balance at 1 November 2022 | – | – | 121,911 | 121,911 | 121,911
Profit for the financial year available for discretionary division among members | 204,102 | 204,102 |  |  | 204,102
| ----------- | ----------- | ----------- | ----------- | -----------
Members' interests after profit for the year | 204,102 | 204,102 | 121,911 | 121,911 | 326,013
Other division of profits | (204,102) | (204,102) | 204,102 | 204,102 | –
Drawings |  |  | (151,993) | (151,993) | (151,993)
| ----------- | ----------- | ----------- | ----------- | -----------
Balance at 31 October 2023 | – | – | 174,020 | 174,020 | 174,020
| ----------- | ----------- | ----------- | ----------- | -----------

Mill and Millard LLP

Notes to the Financial Statements

Period from 1 November 2023 to 31 March 2025

1. | General information

The LLP is registered in Scotland. The address of the registered office is 69-71 Dalry Road, Edinburgh, EH11 2AA.

2. | Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP 2021).

3. | Accounting policies

Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Members' participation rights
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, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Fixtures and fittings | - | 15% reducing balance
| Equipment | - | 33% straight line

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the LLP are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
The LLP only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. | Employee numbers

The average number of persons employed by the LLP during the period, including the members with contracts of employment, amounted to 6 (2023: 5 ).

5. | Operating profit

Operating profit or loss is stated after charging:

| Period from |
| 1 Nov 23 to | Year to
| 31 Mar 25 | 31 Oct 23
| £ | £
Depreciation of tangible assets | 3,363 | 3,450
| -------- | --------

6. | Tangible assets

| Fixtures and fittings | Equipment | Total
| £ | £ | £
Cost |  |  |
At 1 November 2023 and 31 March 2025 | 16,518 | 9,516 | 26,034
| --------- | -------- | ---------
Depreciation |  |  |
At 1 November 2023 | 10,534 | 7,423 | 17,957
Charge for the period | 1,270 | 2,093 | 3,363
| --------- | -------- | ---------
At 31 March 2025 | 11,804 | 9,516 | 21,320
| --------- | -------- | ---------
Carrying amount |  |  |
At 31 March 2025 | 4,714 | – | 4,714
| --------- | -------- | ---------
At 31 October 2023 | 5,984 | 2,093 | 8,077
| --------- | -------- | ---------

7. | Debtors

| 31 Mar 25 | 31 Oct 23
| £ | £
Trade debtors | 39,854 | 48,745
Other debtors | 23,428 | 29,814
| --------- | ---------
| 63,282 | 78,559
| --------- | ---------

8. Creditors: amounts falling due within one year

| 31 Mar 25 | 31 Oct 23
| £ | £
Bank loans and overdrafts | – | 7,098
Social security and other taxes | 37,802 | 31,048
Other creditors | 2,490 | 3,030
| --------- | ---------
| 40,292 | 41,176
| --------- | ---------

9. | Loans and other debts due to members

| 31 Mar 25 | 31 Oct 23
| £ | £
Amounts owed to members in respect of profits | 182,696 | 174,020
| ----------- | -----------