REGISTERED NUMBER: SO300407 (Scotland)

Report of the Members and

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Millden Sporting LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

R P Hanson

Millden Holdings Limited

REGISTERED OFFICE:

King James Vi Business

Riverview Business Park

Friarton Road

Perth

PH2 8DY

REGISTERED NUMBER:

SO300407 (Scotland)

ACCOUNTANTS:

EQ Accountants Ltd

47-49 The Square

Kelso

Roxburghshire

TD5 7HW

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 managing grouse moors, the sporting assets of Scottish estates and the collection of rents from such estates.

DESIGNATED MEMBERS

The designated members during the year under review were:

R P Hanson

Millden Holdings Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The loss for the year before members' remuneration and profit shares was £1,922,139 (2024 - £1,510,807 loss).

MEMBERS' INTERESTS

The member's drawing policy allows each member to draw a proportion of their profit share, subject to the cash requirements of the business.

A members' capital requirement is linked to their share of profit and the financing requirement of the limited liability partnership. There is no opportunity for appreciation of the capital subscribed. Just as incoming members introduce capital at "par", so the retiring members are repaid their capital at "par".

ON BEHALF OF THE MEMBERS:

R P Hanson - Designated member

27 October 2025

REVENUE

252,003

603,970

Cost of sales

690,721

713,436

GROSS LOSS

(438,718

)

(109,466

)

Administrative expenses

1,359,477

1,281,129

(1,798,195

)

(1,390,595

)

Other operating income

93,817

117,514

OPERATING LOSS

3

(1,704,378

)

(1,273,081

)

Interest receivable and similar income

2,386

1,737

(1,701,992

)

(1,271,344

)

Interest payable and similar expenses

220,147

239,463

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

(1,922,139

)

(1,510,807

)

FIXED ASSETS

Property, plant and equipment

4

18,972,460

19,158,391

Investments

5

99

99

18,972,559

19,158,490

CURRENT ASSETS

Inventories

19,628

26,314

Debtors

6

334,894

267,338

Cash at bank and in hand

130,557

237,497

485,079

531,149

CREDITORS

Amounts falling due within one year

7

85,535

108,941

NET CURRENT ASSETS

399,544

422,208

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

19,372,103

19,580,698

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

14,480,109

14,688,704

MEMBERS' OTHER INTERESTS

Capital accounts

4,891,994

4,891,994

19,372,103

19,580,698

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

14,480,109

14,688,704

Members' other interests

4,891,994

4,891,994

19,372,103

19,580,698

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 27 October 2025 and were signed by:

R P Hanson - Designated member

1.	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.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold property

-

Straight line over 50 years

Improvements to property

-

10% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments

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.

2.	EMPLOYEE INFORMATION

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

3.	OPERATING LOSS

The operating loss is stated after charging:

31/3/25

31/3/24

£

£

Depreciation - owned assets

334,300

330,377

4.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 April 2024

19,737,274

169,394

782,438

Additions

-

-

20,950

Disposals

-

-

(9,500

)

At 31 March 2025

19,737,274

169,394

793,888

DEPRECIATION

At 1 April 2024

4,117,630

13,377

514,694

Charge for year

188,384

16,939

54,976

Eliminated on disposal

-

-

(6,387

)

At 31 March 2025

4,306,014

30,316

563,283

NET BOOK VALUE

At 31 March 2025

15,431,260

139,078

230,605

At 31 March 2024

15,619,644

156,017

267,744

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 April 2024

4,327,515

614,661

25,631,282

Additions

16,289

144,886

182,125

Disposals

-

(68,543

)

(78,043

)

At 31 March 2025

4,343,804

691,004

25,735,364

DEPRECIATION

At 1 April 2024

1,356,364

470,826

6,472,891

Charge for year

28,526

45,475

334,300

Eliminated on disposal

-

(37,900

)

(44,287

)

At 31 March 2025

1,384,890

478,401

6,762,904

NET BOOK VALUE

At 31 March 2025

2,958,914

212,603

18,972,460

At 31 March 2024

2,971,151

143,835

19,158,391

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

99

NET BOOK VALUE

At 31 March 2025

99

At 31 March 2024

99

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade debtors

9,341

1,457

Millden Agricultural LLP

218,187

168,043

VAT

9,523

-

Prepayments

97,843

97,838

334,894

267,338

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade creditors

71,432

89,862

Social security and other taxes

6,395

7,108

VAT

-

4,423

Other creditors

697

697

Accrued expenses

7,011

6,851

85,535

108,941

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank behind secured creditors but pari passu with other unsecured creditors.