REGISTERED NUMBER: SO300411 (Scotland)

Report of the Members and

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Millden Agricultural LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

Millden Holdings Limited

Millden Sporting LLP

REGISTERED OFFICE:

King James Vi Business

Riverview Business Park

Friarton Road

Perth

PH2 8DY

REGISTERED NUMBER:

SO300411 (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 livestock farming.

DESIGNATED MEMBERS

The designated members during the year under review were:

Millden Holdings Limited

Millden Sporting LLP

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The loss for the year before members' remuneration and profit shares was £220,147 (2024 - £239,463 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:

Millden Sporting LLP - Designated member

11 November 2025

TURNOVER

84,667

29,574

Cost of sales

122,689

124,982

GROSS LOSS

(38,022

)

(95,408

)

Administrative expenses

183,562

150,863

(221,584

)

(246,271

)

Other operating income

1,437

6,808

OPERATING LOSS and

LOSS FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES

(220,147

)

(239,463

)

LOSS FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES

(220,147

)

(239,463

)

Members' remuneration charged as an expense

4

220,147

239,463

PROFIT FOR THE FINANCIAL YEAR AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

-

-

FIXED ASSETS

Intangible assets

5

11,021

22,762

Tangible assets

6

54,823

15,341

65,844

38,103

CURRENT ASSETS

Stocks

162,018

129,220

Debtors

7

18,443

15,868

Cash at bank

10,169

9,970

190,630

155,058

CREDITORS

Amounts falling due within one year

8

249,077

185,764

NET CURRENT LIABILITIES

(58,447

)

(30,706

)

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

7,397

7,397

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

7,297

7,297

MEMBERS' OTHER INTERESTS

Equity

10

100

100

7,397

7,397

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

7,297

7,297

Members' other interests

100

100

7,397

7,397

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 11 November 2025 and were signed by:

Millden Sporting LLP - 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

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

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, including members with contracts of employment, during the year was NIL (2024 - NIL).

3.	OPERATING LOSS

The operating loss is stated after charging:

31/3/25

31/3/24

£

£

Depreciation - owned assets

9,241

3,065

4.	INFORMATION IN RELATION TO MEMBERS

31/3/25

31/3/24

£

£

Members' remuneration charged as an expense

Remuneration paid under an employment contract

(220,147

)

(239,463

)

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

22,762

Disposals

(11,741

)

At 31 March 2025

11,021

NET BOOK VALUE

At 31 March 2025

11,021

At 31 March 2024

22,762

6.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

5,542

38,726

8,775

53,043

Additions

-

41,848

6,875

48,723

At 31 March 2025

5,542

80,574

15,650

101,766

DEPRECIATION

At 1 April 2024

208

33,424

4,070

37,702

Charge for year

277

7,077

1,887

9,241

At 31 March 2025

485

40,501

5,957

46,943

NET BOOK VALUE

At 31 March 2025

5,057

40,073

9,693

54,823

At 31 March 2024

5,334

5,302

4,705

15,341

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade debtors

-

1,800

VAT

7,283

6,001

Prepayments

11,160

8,067

18,443

15,868

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade creditors

27,614

14,997

Social security and other taxes

1,436

671

Other creditors

-

127

Millden Sporting LLP

218,187

168,042

Deferred income

-

167

Accrued expenses

1,840

1,760

249,077

185,764

9.

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.

10.

RESERVES

Equity

£

At 1 April 2024

100

At 31 March 2025

100