REGISTERED NUMBER: SO303649 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Moidart Hydro LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

D Stewart Howitt

TLS Hydro Power Ltd

N Stewart

E Weir

Moidart Capital Limited

L Stewart Howitt

E Geller

REGISTERED OFFICE:

6 Logie Mill

Beaverbank Business Park

Edinburgh

Lothian

EH7 4HG

REGISTERED NUMBER:

SO303649 (Scotland)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

BANKERS:

Clydesdale Bank

6th Floor

50 Lothian Road

Edinburgh

EH3 9BT

FIXED ASSETS

Tangible assets

4

1,158,830

1,235,680

CURRENT ASSETS

Debtors

5

329,387

378,721

Cash at bank

154,214

202,710

483,601

581,431

CREDITORS

Amounts falling due within one year

6

184,550

201,703

NET CURRENT ASSETS

299,051

379,728

TOTAL ASSETS LESS CURRENT LIABILITIES

1,457,881

1,615,408

CREDITORS

Amounts falling due after more than one year

7

641,668

771,689

NET ASSETS ATTRIBUTABLE TO MEMBERS

816,213

843,719

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

216,213

243,719

MEMBERS' OTHER INTERESTS

Capital accounts

600,000

600,000

816,213

843,719

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

216,213

243,719

Members' other interests

600,000

600,000

Amounts due from members

5

(78,233

)

(77,672

)

737,980

766,047

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 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 13 October 2025 and were signed by:

D Stewart Howitt - Designated member

1.	STATUTORY INFORMATION

Moidart Hydro 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.

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 is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. 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. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date.

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 at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight line basis over its expected useful life as follows:

Freehold property

-

0% on cost

Plant and machinery

-

5% on cost

Motor vehicles

-

25% on cost

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.

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

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. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the Profit and Loss Account in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the Balance Sheet.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the Profit and Loss Account and are equity appropriations in the Balance Sheet.

Other amounts applied to members, for examples remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

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'.

Basic financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that 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 balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

3.	EMPLOYEE INFORMATION

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

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

and 31 March 2025

600,000

1,346,429

62,101

2,008,530

DEPRECIATION

At 1 April 2024

-

739,340

33,510

772,850

Charge for year

-

67,320

9,530

76,850

At 31 March 2025

-

806,660

43,040

849,700

NET BOOK VALUE

At 31 March 2025

600,000

539,769

19,061

1,158,830

At 31 March 2024

600,000

607,089

28,591

1,235,680

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Other debtors

329,387

378,721

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

130,021

125,760

Trade creditors

2,507

246

Taxation and social security

12,161

18,432

Other creditors

39,861

57,265

184,550

201,703

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

641,668

771,689

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

771,689

897,449

Clydesdale Bank PLC hold both a fixed and floating charge over the Limited Liability Partnership (LLP). The fixed charge is held over an area of land at Kinlochmoidart, the home of N Stewart (designated member). The floating charge is secured over all assets of the LLP.

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

31.3.25

31.3.24

£

£

Amounts owed to members in respect of profits

216,213

243,719

Falling due within one year

216,213

243,719

In the event of a winding up the amounts included in "loans and other amounts due to members" will rank equally with unsecured creditors.

10.	RELATED PARTY DISCLOSURES

Company A

LLP Member.

Project fees totalling £6,000 were paid to Company A during the year (2024:£6,000). No balance is payable to Company A at the year end (2024: NIL).

Company B

A director of Company B, is also a director of a company which is a partner of the Moidart Hydro LLP.

Project and management fees totalling £60,343 were paid to Company B during the year (2024:£50,281). No balance is payable to Company B at the year end (2024: NIL).

Company C

A director of Company C, is also a director of a company which is a partner of the Moidart Hydro LLP.

Project and management fees totalling £10,801 were invoiced from Company D during the year (2024: £10,358). No balance is payable to Company D at the year end (2024:NIL).

11.	ULTIMATE CONTROLLING PARTY

The controlling party is D Stewart Howitt.