REGISTERED NUMBER: OC381624 (England and Wales)

Millprint LLP

Members' Report and

Unaudited Financial Statements

for the Year Ended 30 April 2025

Page

General Information

1

Members' Report

2

Profit and Loss Account

3

Balance Sheet

4

Reconciliation of Members' Interests

6

Notes to the Financial Statements

8

DESIGNATED MEMBERS:

Mrs L E Bell

D S Bell

Mrs M Milsted

Raiseprint Limited

REGISTERED OFFICE:

Units E1-E2

Royd Way

Keighley

West Yorkshire

BD21 3LG

REGISTERED NUMBER:

OC381624 (England and Wales)

ACCOUNTANTS:

Walkers Accountants Limited

Aireside House

Aireside Business Centre

Royd Ings Avenue

Keighley

West Yorkshire

BD21 4BZ

The members present their report with the financial statements of the LLP for the year ended 30 April 2025.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of commercial printing.

DESIGNATED MEMBERS

The designated members during the year under review were:

Mrs L E Bell

D S Bell

Mrs M Milsted

Raiseprint Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £142,560 (2024 - £163,282 profit).

MEMBERS' INTERESTS

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

A member's 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 their capital at "par", so the retiring members are repaid their capital at "par".

ON BEHALF OF THE MEMBERS:

D S Bell - Designated member

26 September 2025

TURNOVER

1,218,931

1,022,626

Cost of sales

(921,218

)

(733,792

)

GROSS PROFIT

297,713

288,834

Administrative expenses

(155,153

)

(125,552

)

OPERATING PROFIT and

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

142,560

163,282

FIXED ASSETS

Tangible assets

5

26,157

31,824

CURRENT ASSETS

Stocks

53,609

113,245

Debtors

6

300,484

122,401

Cash at bank

181,376

93,024

535,469

328,670

CREDITORS

Amounts falling due within one year

7

(264,735

)

(187,084

)

NET CURRENT ASSETS

270,734

141,586

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

296,891

173,410

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

226,891

123,410

MEMBERS' OTHER INTERESTS

Capital accounts

70,000

50,000

296,891

173,410

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

226,891

123,410

Members' other interests

70,000

50,000

Amounts due from members

6

(76,083

)

(5,046

)

220,808

168,364

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 30 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.

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 26 September 2025 and were signed by:

D S Bell - Designated member

EQUITY

Members' other interests

Members'

capital

(classified

as

Other

equity)

reserves

Total

£

£

£

Balance at 1 May 2024

50,000

-

50,000

Profit for the financial year available for discretionary division among members

-

142,560

142,560

Members' interests after profit for the year

50,000

142,560

192,560

Other divisions of profit

-

(142,560

)

(142,560

)

Introduced by members

20,000

-

20,000

Drawings on account and distributions of profit

-

-

-

Balance at 30 April 2025

70,000

-

70,000

DEBT

TOTAL

Loans and other debts due to

MEMBERS'

members less any amounts due

INTERESTS

from members in debtors

Other

amounts

Total

£

£

Amount due to members

123,410

Amount due from members

(5,046

)

Balance at 1 May 2024

118,364

168,364

Profit for the financial year available for discretionary division among members

-

142,560

Members' interests after profit for the year

118,364

310,924

Other divisions of profit

142,560

-

Introduced by members

40,000

60,000

Drawings on account and distributions of profit

(150,116

)

(150,116

)

Amount due to members

226,891

Amount due from members

(76,083

)

Balance at 30 April 2025

150,808

220,808

EQUITY

Members' other interests

Members'

capital

(classified

as

Other

equity)

reserves

Total

£

£

£

Balance at 1 May 2023

50,000

-

50,000

Profit for the financial year available for discretionary division among members

-

163,282

163,282

Members' interests after profit for the year

50,000

163,282

213,282

Other divisions of profit

-

(163,282

)

(163,282

)

Drawings on account and distributions of profit

-

-

-

Balance at 30 April 2024

50,000

-

50,000

DEBT

TOTAL

Loans and other debts due to

MEMBERS'

members less any amounts due

INTERESTS

from members in debtors

Other

amounts

Total

£

£

Amount due to members

324,715

Amount due from members

-

Balance at 1 May 2023

324,715

374,715

Profit for the financial year available for discretionary division among members

-

163,282

Members' interests after profit for the year

324,715

537,997

Other divisions of profit

163,282

-

Drawings on account and distributions of profit

(369,633

)

(369,633

)

Amount due to members

123,410

Amount due from members

(5,046

)

Balance at 30 April 2024

118,364

168,364

1.	STATUTORY INFORMATION

Millprint LLP is registered in England and Wales. 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 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.

Significant judgements and estimates

In the application of the limited liability partnership's accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Revenue recognition

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.

Plant and machinery etc

-

20% on reducing balance

All tangible fixed assets are at cost less accumulated depreciation. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Assets held under finance lease are depreciated in the same manner as owned assets.

Renewals, repairs and maintenance are charged to profit and loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using a mixture of methods. The depreciation bases are as detailed above.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are credited or charged to the income statement.

Impairment of fixed assets

At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indications exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less that its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reserves, the carrying amount of the asset is increased to the revised estimate of its recoverable amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in the prior years. A reversal of an impairment loss is recognised as income immediately.

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight-line basis over the lease term, except for temporary rent concessions granted as a direct consequence of the Covid-19 pandemic, which are recognised on a systematic basis over the periods that the change in lease payments is intended to compensate.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 9 (2024 - 2 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

30.4.25

30.4.24

£

£

Depreciation - owned assets

6,512

7,945

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2024

42,066

Additions

845

At 30 April 2025

42,911

DEPRECIATION

At 1 May 2024

10,242

Charge for year

6,512

At 30 April 2025

16,754

NET BOOK VALUE

At 30 April 2025

26,157

At 30 April 2024

31,824

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

£

Trade debtors

197,688

78,084

Amounts owed by participating interests

25,267

31,132

Other debtors

77,529

13,185

300,484

122,401

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

£

Trade creditors

196,872

173,037

Taxation and social security

48,548

10,228

Other creditors

19,315

3,819

264,735

187,084

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.4.25

30.4.24

£

£

Within one year

7,405

7,405

Between one and five years

6,171

13,576

13,576

20,981

9.

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 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'.

10.	PENSION COMMITMENTS

The LLP operates a defined contribution scheme for the benefit of the directors and staff. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the funds and amounted to £10,331 (2024 - £1,686). Contributions totalling £854 (2024 - £1,510) were payable to the fund at the balance sheet date and are included in creditors.