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REGISTERED NUMBER: SO304433 (Scotland)

| Unaudited Financial Statements |

| for the Year Ended 5 April 2025 |

| for |

| Adam Family Assets LLP |

Adam Family Assets LLP (Registered number: SO304433)

Contents of the Financial Statements

for the Year Ended 5 April 2025

Page |

General Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

Adam Family Assets LLP

General Information

for the Year Ended 5 April 2025

| DESIGNATED MEMBERS: | G F Adam

| Mrs E A Adam

| REGISTERED OFFICE: | Rhymers Ha'

| Oakenden

| Melrose

| TD6 9HA

| REGISTERED NUMBER: | SO304433 (Scotland)

| ACCOUNTANTS: | APT

| 44 The Pantiles

| Tunbridge Wells

| Kent

| TN2 5TN

Adam Family Assets LLP (Registered number: SO304433)

Balance Sheet

5 April 2025

| 5.4.25 | 5.4.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 3,424,719 |  | 3,387,091 |  |

Investments | 5 | 6,589,162 |  | 5,329,460 |  |

10,013,881 |  | 8,716,551 |  |

CURRENT ASSETS

Stocks | 4,643 |  | 8,291 |  |

Debtors | 6 | 4,281 |  | 25,759 |  |

Cash at bank | 1,691,446 |  | 2,022,779 |  |

1,700,370 |  | 2,056,829 |  |

CREDITORS

Amounts falling due within one year | 7 | 10,729 |  | 11,832 |  |

NET CURRENT ASSETS | 1,689,641 |  | 2,044,997 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS | 11,703,522 |  | 10,761,548 |  |

LOANS AND OTHER DEBTS DUE TO MEMBERS | 8 | 956,679 |  | - |  |

MEMBERS' OTHER INTERESTS

Capital accounts | 10,746,843 |  | 10,761,548 |  |

11,703,522 |  | 10,761,548 |  |

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members | 8 | 956,679 |  | - |  |

Members' other interests | 10,746,843 |  | 10,761,548 |  |

11,703,522 |  | 10,761,548 |  |

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 5 April 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.

Adam Family Assets LLP (Registered number: SO304433)

Balance Sheet - continued

5 April 2025

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 31 October 2025 and were signed by:

G F Adam - Designated member

Adam Family Assets LLP (Registered number: SO304433)

Notes to the Financial Statements

for the Year Ended 5 April 2025

1. | STATUTORY INFORMATION

| Adam Family Assets LLP is registered in Scotland. 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 as modified by the revaluation of certain assets.

| The functional and presentational currency of the LLP is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

| Going concern

| After reviewing the LLP's forecasts and projections, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. The LLP therefore continues to adopt the going concern basis in preparing its financial statements.

| Significant judgements and estimates

| Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

| Other income

| Interest income, including income arising from finance leases and other financial instruments, is recognised using the effective interest method. Dividend and rental income is recognised when the right to receive payment is established. Rental income represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Land and buildings | - | 2% on cost

| Plant and machinery etc | - | 25% on cost

| The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

| Stocks

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

Adam Family Assets LLP (Registered number: SO304433)

Notes to the Financial Statements - continued

for the Year Ended 5 April 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.Such assets are subsequently carried at amortised cost, using the effective interest rate method.

| Basic financial liabilities including trade and other payables are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Provisions for liabilities

| Provisions are recognised when the LLP has a present obligation (legal or constructive) as a result of a past event, it is probable that the LLP will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

| The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

| Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

3. | EMPLOYEE INFORMATION

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

Adam Family Assets LLP (Registered number: SO304433)

Notes to the Financial Statements - continued

for the Year Ended 5 April 2025

4. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 6 April 2024 | 1,878,071 |  | 1,765,737 |  | 3,643,808 |  |

| Additions | - |  | 123,601 |  | 123,601 |  |

| At 5 April 2025 | 1,878,071 |  | 1,889,338 |  | 3,767,409 |  |

| DEPRECIATION

| At 6 April 2024 | - |  | 256,717 |  | 256,717 |  |

| Charge for year | - |  | 85,973 |  | 85,973 |  |

| At 5 April 2025 | - |  | 342,690 |  | 342,690 |  |

| NET BOOK VALUE

| At 5 April 2025 | 1,878,071 |  | 1,546,648 |  | 3,424,719 |  |

| At 5 April 2024 | 1,878,071 |  | 1,509,020 |  | 3,387,091 |  |

| Included in cost of land and buildings is freehold land of £ 1,878,071 (2024 - £ 1,878,071 ) which is not depreciated.

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Plant and

| machinery

| etc

£ |

| COST

| At 6 April 2024

| and 5 April 2025 | 50,575 |  |

| DEPRECIATION

| At 6 April 2024 | 34,771 |  |

| Charge for year | 12,644 |  |

| At 5 April 2025 | 47,415 |  |

| NET BOOK VALUE

| At 5 April 2025 | 3,160 |  |

| At 5 April 2024 | 15,804 |  |

Adam Family Assets LLP (Registered number: SO304433)

Notes to the Financial Statements - continued

for the Year Ended 5 April 2025

5. | FIXED ASSET INVESTMENTS

| Other

| investments

£ |

| COST OR VALUATION

| At 6 April 2024 | 5,329,460 |  |

| Revaluations | 1,259,702 |  |

| At 5 April 2025 | 6,589,162 |  |

| NET BOOK VALUE

| At 5 April 2025 | 6,589,162 |  |

| At 5 April 2024 | 5,329,460 |  |

| Cost or valuation at 5 April 2025 is represented by:

| Other

| investments

£ |

| Valuation in 2017 | 441,456 |  |

| Valuation in 2018 | 234,885 |  |

| Valuation in 2019 | 434,990 |  |

| Valuation in 2020 | (57,618 | ) |

| Valuation in 2021 | 2,278,621 |  |

| Valuation in 2022 | (571,947 | ) |

| Valuation in 2023 | (2,584,375 | ) |

| Valuation in 2024 | 824,884 |  |

| Valuation in 2025 | 1,259,702 |  |

| Cost | 4,328,564 |  |

6,589,162 |  |

| Fixed asset investments are represented by listed investments and are disclosed at fair value.

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 5.4.25 |  | 5.4.24

£ | £ |

| Other debtors | 4,281 |  | 25,759 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 5.4.25 |  | 5.4.24

£ | £ |

| Hire purchase contracts | - |  | 9,299 |  |

| Trade creditors | - |  | 144 |  |

| Taxation and social security | 4,557 |  | - |  |

| Other creditors | 6,172 |  | 2,389 |  |

10,729 |  | 11,832 |  |

Adam Family Assets LLP (Registered number: SO304433)

Notes to the Financial Statements - continued

for the Year Ended 5 April 2025

8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |

| Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.

| There is no provision for specific legally enforceable protection afforded to creditors in such an event.

| There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' other interests'.