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REGISTERED NUMBER: SO300576 (Scotland)

Financial Statements

for the Year Ended 31 March 2025

for

Troon Textiles LLP

| Troon Textiles LLP (Registered number: SO300576) |

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

| General Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| Troon Textiles LLP |

General Information

for the Year Ended 31 March 2025

| DESIGNATED MEMBERS: | Mrs M L Taylor

| Mr G B Taylor

| REGISTERED OFFICE: | Harbour Road

| Troon

| Ayrshire

| KA10 6DJ

| REGISTERED NUMBER: | SO300576 (Scotland)

| ACCOUNTANTS: | Gillespie & Anderson

| Chartered Accountants

| Westburn Business Centre

| McNee Road

| Prestwick

| KA9 2PB

| Troon Textiles LLP (Registered number: SO300576) |

Balance Sheet

31 March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 170,008 |  | 173,840 |  |

CURRENT ASSETS

Stocks | 219,230 |  | 175,780 |  |

Debtors | 5 | 188,116 |  | 232,526 |  |

Cash at bank and in hand | 170 |  | 213 |  |

407,516 |  | 408,519 |  |

CREDITORS

Amounts falling due within one year | 6 | 199,038 |  | 213,260 |  |

NET CURRENT ASSETS | 208,478 |  | 195,259 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 378,486 |  | 369,099 |  |

CREDITORS

Amounts falling due after more than one year | 7 | 1,722 |  | 11,667 |  |

NET ASSETS ATTRIBUTABLE TO MEMBERS | 376,764 |  | 357,432 |  |

LOANS AND OTHER DEBTS DUE TO MEMBERS | 10 | 361,764 |  | 342,432 |  |

MEMBERS' OTHER INTERESTS

Capital accounts | 15,000 |  | 15,000 |  |

376,764 |  | 357,432 |  |

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members | 10 | 361,764 |  | 342,432 |  |

Members' other interests | 15,000 |  | 15,000 |  |

376,764 |  | 357,432 |  |

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.

| Troon Textiles LLP (Registered number: SO300576) |

Balance Sheet - continued

31 March 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 22 May 2025 and were signed by:

Mr G B Taylor - Designated member

| Troon Textiles LLP (Registered number: SO300576) |

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Troon Textiles LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 inclusion of Freehold Business Property held at Fair Value.

| Going Concern

| The Partners consider the current and future level of trading on an ongoing basis to assess the resources required to meet commitments as they fall due. Taking account of these factors and the Partner's willingness to assist with cash flow as and when required, the Partners are confident that the Partnership has sufficient resources now and going forward to allow the Partnership to continue in operation. On this basis the accounts have been prepared on a going concern basis.

| Turnover

| Turnover 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 each asset over its estimated useful life.

| Freehold business property | - | 2% on cost

| Office equipment, fixtures and fittings | - | 15% on reducing balance

| Tangible fixed assets are stated at cost less depreciation.

| Stocks

| Stocks are valued at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs to completion and disposal.

| Pension costs and other post-retirement benefits

| The Partnership operates a money purchase pension scheme in the form of employee personal pension plans. The contracts are between the individual and the pension provider and all funds are held externally by a third party pension provider. Pension contributions are charged to the profit and loss account in the period to which they relate.

| Cash and cash equivalents

| Cash and cash equivalents comprise cash held by the partnership and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value.

| Taxation

| No provision is made in the accounts in respect of tax due by the individual partners on their profit share. Tax paid by the Limited Liability Partnership to satisfy partners tax liabilities is charged to their respective current account balances.

| Troon Textiles LLP (Registered number: SO300576) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Impairment of fixed assets

| At each reporting date, the partnership reviews the carrying amounts of its tangible fixed 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 amount of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the partnership estimates the recoverable amount of the cash-generating unit to which the asset belongs.

| Financial Instruments

| Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality. The company has two main categories of financial instruments, which are loans and other receivables and other financial liabilities:

| Loans and other receivables

| Loans and other receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Upon recognition, these assets are measured at fair value less directly related transaction expenses. In successive periods these are measured at amortised cost, and any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value less any allowance for credit losses.

| Other financial liabilities

| Other financial liabilities are recognised initially at fair value, net of transaction costs incurred. In successive periods these are measured at amortised cost. Any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value.

| Impairment of financial instruments

| A provision for impairment is established when there is objective evidence that, as a result of one or more events that occurred after the initial recognition, the estimated future cash flows have been impacted.

| Government grants

| Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

3. | EMPLOYEE INFORMATION

| The average number of employees during the year was 2 (2024 - 2 ) .

| Troon Textiles LLP (Registered number: SO300576) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

4. | TANGIBLE FIXED ASSETS

| Office |

| equipment, |

| Freehold |  | fixtures |

| business |  | and |

| property |  | fittings |  | Totals

£ | £ | £ |

| COST OR VALUATION

| At 1 April 2024

| and 31 March 2025 | 225,000 |  | 23,510 |  | 248,510 |  |

| DEPRECIATION

| At 1 April 2024 | 53,375 |  | 21,295 |  | 74,670 |  |

| Charge for year | 3,500 |  | 332 |  | 3,832 |  |

| At 31 March 2025 | 56,875 |  | 21,627 |  | 78,502 |  |

| NET BOOK VALUE

| At 31 March 2025 | 168,125 |  | 1,883 |  | 170,008 |  |

| At 31 March 2024 | 171,625 |  | 2,215 |  | 173,840 |  |

| The partnership's heritable business property was revalued by Messrs Bell Ingram, Chartered Surveyors, on 27 November 2009 in the sum of £225,000. This revalued amount has been depreciated in line with the accounting policy in relation to property, plant and equipment.

| In line with FRS 102, it is considered that the depreciated cost accurately reflects the fair value of the asset and therefore the partnership has continued to depreciate the assets to 31 March 2025 on the same basis.

| The members consider the cost as at 31 March 2025 reflects the fair value of the property.

| Cost or valuation at 31 March 2025 is represented by:

| Office |

| equipment, |

| Freehold |  | fixtures |

| business |  | and |

| property |  | fittings |  | Totals

£ | £ | £ |

| Valuation in 2009 | 105,000 |  | - |  | 105,000 |  |

| Cost | 120,000 |  | 23,510 |  | 143,510 |  |

225,000 |  | 23,510 |  | 248,510 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 162,432 |  | 204,617 |  |

| Other debtors | 25,684 |  | 27,909 |  |

188,116 |  | 232,526 |  |

| Troon Textiles LLP (Registered number: SO300576) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts (see note 8) | 59,760 |  | 62,182 |  |

| Trade creditors | 110,270 |  | 131,694 |  |

| Taxation and social security | 469 |  | 414 |  |

| Other creditors | 28,539 |  | 18,970 |  |

199,038 |  | 213,260 |  |

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans (see note 8) | 1,722 |  | 11,667 |  |

8. | LOANS

| An analysis of the maturity of loans is given below:

2025 | 2024 |

£ | £ |

| Amounts falling due within one year or on demand:

| Bank overdrafts | 49,760 |  | 52,182 |  |

| Bank loans - less than 1 yr | 10,000 |  | 10,000 |  |

59,760 |  | 62,182 |  |

| Amounts falling due between one and two years:

| Bank loans - 1-2 years | 1,722 |  | 11,667 |  |

9. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank overdrafts | 49,760 |  | 52,182 |  |

| Bank loans | 11,722 |  | 21,667 |  |

61,482 |  | 73,849 |  |

| The bank overdraft is secured by way of a floating charge over the whole assets of the partnership in favour of the Clydesdale Bank PLC and by personal guarantee of a member.

| The bank loan is guaranteed under the Government's bounce back loan scheme. Interest is chargeable at a

| commercial rate of interest.

| Troon Textiles LLP (Registered number: SO300576) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

10. | LOANS AND OTHER DEBTS DUE TO MEMBERS |

2025 | 2024 |

£ | £ |

| Amounts owed to members in respect of profits | 361,764 |  | 342,432 |  |

| Falling due within one year | 361,764 |  | 342,432 |  |

| Members' interests are subordinated to bank borrowings. Loans and other debts due to members rank equally with unsecured creditors in the event of a winding up. Members' other interests, represented by members' capital (classified as equity), rank after unsecured creditors

11. | CONTROLLING PARTIES

| By virtue of his equity share and day to day involvement in the running of the business G B Taylor is deemed to be in control of the Limited Liability Partnership.

12. | DEBTS DUE TO MEMBERS

| Members' interests are subordinated to bank borrowings. Loans and other debts due to members rank equally with unsecured creditors in the event of a winding up. Members' other interests, represented by members' capital (classified as equity), rank after unsecured creditors