Company No: SO306736 (Scotland)

Contents

• Balance Sheet
• Reconciliation of Members' Interests
• Notes to the Financial Statements

	Note	31.03.2025		31.03.2024
		£		£
Fixed assets
Tangible assets	4	1,740,191		1,803,494
		1,740,191		1,803,494
Current assets
Stocks		208,690		173,992
Debtors	5	19,323		21,710
Cash at bank and in hand		147,428		120,468
		375,441		316,170
Creditors: amounts falling due within one year	6	( 44,041)		( 50,919)
Net current assets		331,400		265,251
Total assets less current liabilities		2,071,591		2,068,745
Creditors: amounts falling due after more than one year	7	( 26,520)		( 39,186)
Net assets attributable to members		2,045,071		2,029,559
Represented by
Loans and other debts due to members within one year
Other amounts		(251,999)		(181,963)
		(251,999)		(181,963)
Members' other interests
Members' capital classified as equity		2,297,070		2,211,522
		2,297,070		2,211,522
		2,045,071		2,029,559
Total members' interests
Loans and other debts due to members		(251,999)		(181,963)
Members' other interests		2,297,070		2,211,522
		2,045,071		2,029,559

For the financial year 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.

Members' responsibilities:

• The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Mann Partners LLP (registered number: SO306736) were approved and authorised for issue by the Board of Directors on 22 November 2025. They were signed on its behalf by:

Graeme Robert Mann Designated member		Julie Marion Mann Designated member
Brian Hector Mann Designated member

	EQUITY Members' other interests	DEBT Loans and other debts due to members less any amounts due from members in debtors	Total members' interests
	Members' capital (classified as equity)	Other amounts	Total
	£	£	£
Amounts due from members		(132,556)
Balance at 01 June 2023	1,738,626	(132,556)	1,606,070
Members' remuneration charged as an expense, including employment and retirement benefit costs	0	(28,930)	(28,930)
Members' interest after result for the financial year/period	1,738,626	(161,486)	1,577,140
Introduced by members	472,896	0	472,896
Drawings	0	(20,477)	(20,477)
Amounts due from members		(181,963)
Balance at 31 March 2024	2,211,522	(181,963)	2,029,559
Members' remuneration charged as an expense, including employment and retirement benefit costs	0	(49,309)	(49,309)
Members' interest after result for the financial year/period	2,211,522	(231,272)	1,980,250
Introduced by members	85,548	0	85,548
Drawings	0	(20,727)	(20,727)
Amounts due from members		(251,999)
Balance at 31 March 2025	2,297,070	(251,999)	2,045,071

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Mann Partners LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in Scotland. The address of the LLP's registered office is The Office Bellfield Farm, Kingswells, Aberdeen, AB15 8PX, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to LLPs subject to the small LLPs regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the LLP and rounded to the nearest £.

Turnover

Turnover represents amounts receivable for the sale of cattle and arable crops.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
	not depreciated
Plant and machinery	20 % reducing balance
Other property, plant and equipment	not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the LLP reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the LLP estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the LLP becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the LLP after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are initially measured at transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the LLP transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the LLP, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, are classified as debt. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.

Financial liabilities are derecognised when the LLP’s contractual obligations expire or are discharged or cancelled.

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. 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.

The profits or losses are automatically divided as they arise and are charged as an expense or credit in the profit and loss account and charged to other debts due to members on the balance sheet.

All amounts due to members that are classified as liabilities are presented in the Balance Sheet within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Balance Sheet within 'Members' other interests'.

2. Employees

	Year ended 31.03.2025		Period from 01.06.2023 to 31.03.2024
	Number		Number
Monthly average number of persons employed by the LLP during the year	0		0

3. Members' remuneration

Profits are shared among the members in accordance with agreed profit sharing arrangements. Members are required to make their own provision for pensions from their profit shares.

	31.03.2025		31.03.2024
	Number		Number
Average number of members during the financial year	3		3

4. Tangible assets

	Land and buildings		Plant and machinery		Other property, plant and equipment		Total
	£		£		£		£
Cost
At 01 April 2024	1,494,485		509,522		3,018		2,007,025
Additions	0		9,900		0		9,900
Disposals	0		( 425)		0		( 425)
At 31 March 2025	1,494,485		518,997		3,018		2,016,500
Accumulated depreciation
At 01 April 2024	4,121		199,410		0		203,531
Charge for the financial year	9,890		63,147		0		73,037
Disposals	0		( 259)		0		( 259)
At 31 March 2025	14,011		262,298		0		276,309
Net book value
At 31 March 2025	1,480,474		256,699		3,018		1,740,191
At 31 March 2024	1,490,364		310,112		3,018		1,803,494

5. Debtors

	31.03.2025		31.03.2024
	£		£
Trade debtors	2,102		1,020
Other debtors	17,221		20,690
	19,323		21,710

6. Creditors: amounts falling due within one year

	31.03.2025		31.03.2024
	£		£
Trade creditors	17,764		8,030
Obligations under finance leases and hire purchase contracts	20,488		35,875
Other creditors	5,789		7,014
	44,041		50,919

7. Creditors: amounts falling due after more than one year

	31.03.2025		31.03.2024
	£		£
Obligations under finance leases and hire purchase contracts	26,520		39,186

There are no amounts included above in respect of which any security has been given by the small entity.