Langage Farm Limited Liability Partnership

	Page
Members' Report	1
Independent Auditor's Report	2—5
Statement of Comprehensive Income	6
Balance Sheet	7—8
Reconciliation of Members' Interests	9—10
Cash Flow Statement	10
Notes to the Cash Flow Statement	11
Notes to the Financial Statements	12—16

Opinion

We have audited the financial statements of Langage Farm Limited Liability Partnership for the year ended 31 March 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, The Reconciliation of Members' Interests, Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

In our opinion the financial statements:

give a true and fair view of the state of the limited liability partnership's affairs as at 31 March 2025 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006 as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the limited liability partnership in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the members' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the members with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The members are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the members' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the members' report has been prepared in accordance with applicable legal requirements.

Page 2

Page 3

Independent Auditor's Report (continued)

to the Members of

Langage Farm Limited Liability Partnership

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the limited liability partnership and its environment obtained in the course of the audit, we have not identified material misstatements in the members' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 as applied to limited liability partnerships requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of members' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Members

As explained more fully in the Statement of Members' Responsibilites set out on page 1, the members are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the members determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the members are responsible for assessing the limited liability partnership's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the members either intend to liquidate the limited liability partnership or to cease operations, or have no realistic alternative but to do so.

Page 3

Page 4

Independent Auditor's Report (continued)

to the Members of

Langage Farm Limited Liability Partnership

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of our audit planning, through discussions with management, we obtained an understanding of the legal and regulatory framework that is applicable to the company and the sector in which it operates to identify the key laws and regulations affecting the company.

The key laws and regulations we identified were food saftey & hygiene laws, agricultural laws and employment laws. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, primarily the Limited Liability Partnerships Act 2002, the LLP SORP, the Companies Act 2006, the reporting framework (FRS 102), and relevant tax compliance regulations in the UK.

We discussed with management how the compliance with these laws and regulations is monitored and we discussed the policies and procedures in place. We also identified the individuals who have responsibility for ensuring that the entity complies with laws and regulations and deals with reporting any issues if they arise. As part of our planning procedures, we assessed the risk of any non-compliance with laws and regulations on the company’s ability to continue trading and the risk of material misstatement to the accounts.

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved the following:

Enquiries of management and those charged with governance regarding their knowledge of any non-compliance with laws and regulations that could affect the financial statements;
Reviewed legal and professional costs to identify any possible non-compliance or legal costs in respect of non-compliance and as part of our enquiries we discussed with management whether there have been any known instances, allegations or suspicions of fraud, of which there were none.

We also evaluated the risk of fraud through management override including that arising from management’s incentives. The key risk we identified was fraudulent financial reporting. In response to the identified risk, as part of our audit work we:

Identified and tested journal entries throughout the year and year end adjustments, for appropriateness;
Reviewed estimates and judgements made in the accounts for any indication of bias and challenged assumptions used by management in making the estimates, in particular in relation to income recognition and depreciation.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters

The financial statements of the company for the year ended 31 March 2024 were not audited because the directors took advantage of the audit exemption provided under section 477 of the Companies Act 2006.

Page 4

Page 5

Independent Auditor's Report (continued)

to the Members of

Langage Farm Limited Liability Partnership

Use Of Our Report

This report is made solely to the LLP's members, as a body, in accordance with the Companies Act 2006 as applied to limited liability partnerships by Part 12 of the Limited Liability Partnerships (Accounts and Audit) (Application of companies Act 2006) Regulations 2008. Our audit work has been undertaken so that we might state to the LLP's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and the LLP's members as a body, for our audit work, for this report, or for the opinions we have formed.

John Hillier (Senior Statutory Auditor)

for and on behalf of Sumer Auditco Limited , Statutory Auditor

23 December 2025

Sumer Auditco Limited

T/A Sumer Audit

6 Houndisombe Road

Plymouth

Devon

PL4 6HH

Page 5

Page 6

Langage Farm Limited Liability Partnership

Statement of Comprehensive Income

For The Year Ended 31 March 2025

Statement of Comprehensive Income

		2025	2024
	Notes	£	£
TURNOVER	3	9,603,151	6,870,012
Cost of sales		(7,270,237 )	(5,338,868 )

GROSS PROFIT		2,332,914	1,531,144

Administrative expenses		(1,647,342 )	(1,329,981 )

OPERATING PROFIT	4	685,572	201,163
Loss on disposal of fixed assets		(2,606 )	(564 )
Other interest receivable and similar income	8	440,152	341,400
Interest payable and similar charges	9	(39,163 )	(41,163 )

PROFIT FOR THE FINANCIAL YEAR AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS		1,083,955	500,836
OTHER COMPREHENSIVE INCOME FOR THE YEAR		-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR		1,083,955	500,836

The notes on pages 11 to 16 form part of these financial statements.

Page 6

Page 7

Langage Farm Limited Liability Partnership

Balance Sheet

As At 31 March 2025

Balance Sheet

Registered number: OC342462

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	10		2,861,605		2,693,753

			2,861,605		2,693,753
CURRENT ASSETS
Stocks	11	732,563		594,217
Debtors	12	3,092,708		2,905,020
Cash at bank and in hand		1,103,490		416,059

		4,928,761		3,915,296
Creditors: Amounts Falling Due Within One Year	13	(884,004 )		(608,613 )

NET CURRENT ASSETS (LIABILITIES)			4,044,757		3,306,683

TOTAL ASSETS LESS CURRENT LIABILITIES			6,906,362		6,000,436

Creditors: Amounts Falling Due After More Than One Year	14		(453,088 )		(454,117 )

NET ASSETS ATTRIBUTABLE TO MEMBERS			6,453,274		5,546,319

REPRESENTED BY:
Loans and other debts due to members
Other amounts		5,369,319		5,045,483

			5,369,319		5,045,483

Equity
Members' other interests
Other reserves		1,083,955		500,836

			1,083,955		500,836

			6,453,274		5,546,319

TOTAL MEMBERS' INTEREST
Loans and other debts due to members			5,369,319		5,045,483
Members' other interests			1,083,955		500,836

			6,453,274		5,546,319

Page 7

Page 8

Langage Farm Limited Liability Partnership

Balance Sheet (continued)

As At 31 March 2025

On behalf of the members

Mr James Harvey

Designated Member

23 December 2025

The notes on pages 11 to 16 form part of these financial statements.

Page 8

Page 9

Langage Farm Limited Liability Partnership

Reconciliation of Members' Interests

For The Year Ended 31 March 2025

Reconciliation of Members' Interests

	EQUITY	DEBT
	Members' other interests	Loans and other debts due to members less any amounts due from members in debtors
	Other Reserves	Other amounts	Total members' interest
	£	£	£
Amounts due to members	-	4,934,715	-

Balance at 1 April 2023	629,520	4,934,715	5,564,235
Profit/(loss) for the financial year available for discretionary division among members	500,836	-	500,836

Members' interests after profit/(loss) for the year	1,130,356	4,934,715	6,065,071
Drawings	-	110,768	110,768
Other Movements	(629,520)	-	(629,520)

Amounts due to members	-	5,045,483	-

As at 31 March 2024 and 1 April 2024	500,836	5,045,483	5,546,319


Profit/(loss) for the financial year available for discretionary division among members	1,083,955	-	1,083,955

Members' interests after profit/(loss) for the year	1,584,791	5,045,483	6,630,274
Drawings	-	323,836	323,836
Other Movements	(500,836)	-	(500,836)

Amounts due to members	-	5,369,319	-

As at 31 March 2025	1,083,955	5,369,319	6,453,274

Page 9

Page 10

Langage Farm Limited Liability Partnership

Cash Flow Statement

For The Year Ended 31 March 2025

Cash Flow Statement

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	897,318	330,158
Interest paid		(39,163 )	(41,163 )
Members' drawings		(177,000)	(518,751)

Net cash generated from/(used in) operating activities		681,155	(229,756 )

Cash flows from investing activities
Purchase of tangible assets		(459,216 )	(381,676 )
Proceeds from disposal of tangible assets		25,340	77,334
Interest received		440,152	341,400

Net cash generated from investing activities		6,276	37,058



Increase/(decrease) in cash and cash equivalents		687,431	(192,698 )
Cash and cash equivalents at beginning of year	2	416,059	608,757

Cash and cash equivalents at end of year	2	1,103,490	416,059

Page 10

Page 11

Langage Farm Limited Liability Partnership

Notes to the Cash Flow Statement

For The Year Ended 31 March 2025

Notes to the Cash Flow Statement

1. Reconciliation of profit for the financial year before members' remuneration and profit shares to cash generated from operations

	2025	2024
	£	£
Profit for the financial year before members' remuneration and profit shares	1,083,955	500,836
Adjustments for:
Interest expense	39,163	41,163
Interest income	(440,152 )	(341,400 )
Depreciation of tangible assets	263,418	177,907
Loss on disposal of tangible assets	2,606	564
Movements in working capital:
Increase in stocks	(138,346 )	(32,906 )
Increase in trade and other debtors	(187,688 )	(33,257 )
Increase in trade and other creditors	274,362	17,251

Net cash generated from operations	897,318	330,158

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024
	£	£
Cash at bank and in hand	1,103,490	416,059

3. Analysis of changes in net debt

	As at 1 April 2024	Cash flows	As at 31 March 2025
	£	£	£
Cash at bank and in hand	416,059	687,431	1,103,490
Other amounts	(5,045,483)	(323,836)	(5,369,319)

Net debt including member's debt	(4,629,424)	363,595	(4,265,829)

Page 11

Page 12

Langage Farm Limited Liability Partnership

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

Langage Farm Limited Liability Partnership is a limited liability partnership, incorporated in England & Wales, registered number OC342462 . The Registered Office is Higher Challonsleigh, Smithaleigh, Plymouth, Devon, PL7 5AY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Significant judgements and estimations

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.

2.3. Turnover

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	2% straight line
Plant & Machinery	20% reducing balance
Motor Vehicles	20% reducing balance
Herd	No depreciation

The dairy herd is classified as a bearer biological asset under FRS 102 Section 34. As fair value cannot be measured reliably, the herd is measured using the cost model. Animals are recognised at cost and subsequently carried at cost less any depreciation and impairment.

2.5. Stocks and Work in Progress

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.6. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.7. Financial Instruments

Classification

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a finance transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the balance sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the limited liability partnership intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Impairment of assets

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the limited liability partnership transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the limited liability partnership, despite having retained some significant risks and rewards of ownership, has transferred control of the asset to another party and the other party has the practical ability to sell the asset in its entirety to an unrelated third party and is able to exercise that ability unilaterally and without needing to impose additional restrictions on the transfer.

...CONTINUED

Page 12

Page 13

Langage Farm Limited Liability Partnership

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. Financial Instruments - continued

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

2.8. Taxation

The taxation payable on the profits of the LLP is the personal liability of the individual Members and, as such, is not reflected in these financial statements.

2.9. Members Participating Interests

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.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

Where there exists an asset and liability component in respect of an individual member’s participation rights, they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts, and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented net.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

2.10. Profit Allocations

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.

The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

2.11. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

Page 13

Page 14

Langage Farm Limited Liability Partnership

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

3. Turnover

Analysis of turnover by class of business is as follows:

	2025	2024
	£	£
Grants	43,691	25,859
Other income	179,750	143,489
Sale of goods	9,379,710	6,700,664

	9,603,151	6,870,012

Analysis of turnover by geographical market is as follows:

	2025	2024
	£	£
United Kingdom	9,603,151	6,870,012

	9,603,151	6,870,012

4. Operating Profit

The operating profit is stated after charging:

	2025	2024
	£	£
Bad debts	7,061	401
Depreciation of tangible fixed assets	263,418	177,907

5. Auditor's Remuneration

Remuneration received by the LLP's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the LLP's financial statements	11,000	-


Other Services
Other non-audit services	6,610	6,149

6. Staff Costs

Staff costs were as follows:

	2025	2024
	£	£
Wages and salaries	2,262,459	1,749,979
Social security costs	174,043	130,277
Other pension costs	39,239	29,206

	2,475,741	1,909,462

7. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: 70 (2024: 59)

Page 14

Page 15

Langage Farm Limited Liability Partnership

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Interest Receivable and Similar Income

	2025	2024
	£	£
Bank interest receivable	14,571	-
Other interest receivable	425,581	341,400

	440,152	341,400

9. Interest Payable and Similar Charges

	2025	2024
	£	£
Interest payable on other loans	39,163	41,163

10. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Herd	Total
	£	£	£	£	£
Cost
As at 1 April 2024	2,506,618	2,850,898	360,142	89,304	5,806,962
Additions	3,599	432,579	23,038	-	459,216
Disposals	-	(46,369 )	(9,010 )	(300 )	(55,679 )

As at 31 March 2025	2,510,217	3,237,108	374,170	89,004	6,210,499

Depreciation
As at 1 April 2024	681,354	2,234,725	197,130	-	3,113,209
Provided during the period	50,146	177,720	35,552	-	263,418
Disposals	-	(19,237 )	(8,496 )	-	(27,733 )

As at 31 March 2025	731,500	2,393,208	224,186	-	3,348,894

Net Book Value
As at 31 March 2025	1,778,717	843,900	149,984	89,004	2,861,605

As at 1 April 2024	1,825,264	616,173	163,012	89,304	2,693,753

11. Stocks

	2025	2024
	£	£
Stock	732,563	594,217

Page 15

Page 16

Langage Farm Limited Liability Partnership

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

12. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	556,078	465,636
Other debtors	2,536,630	163,384

	3,092,708	629,020
Due after more than one year
Other debtors	-	2,276,000

	3,092,708	2,905,020

13. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	539,062	432,192
Other creditors	270,607	127,367
Taxation and social security	41,913	34,190
Accruals and deferred income	32,422	14,864

	884,004	608,613

14. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Other creditors	450,000	450,000
Accruals and deferred income	3,088	4,117

	453,088	454,117

15. Pension Commitments

The LLP operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the LLP in an independently administered fund.

During the year the charge to the profit and loss account in respect of defined contribution schemes was £39,239 (2024: £29,206).

At the balance sheet date contributions of £10,134 (2024: £7,690) were due to the fund and are included in creditors.

16. Related Party Disclosures

During the year the LLP had outstanding loans owed to parties related to the members of the LLP. Total loans outstanding at the year end total £450,000 (2024: £450,000).

During the year, total interest of £39,163 (2024: £41,163) was charged and paid on these loans. No capital repayments or new loan advances took place during the year. The loans are repayable on demand.

Oustanding at the year end was a loan provided to an LLP in which the 3 designated members are also members. The entity is considered a related party due to the member’s control.

During the year, total interest of £425,581 (2024: £341,400) was earned and received on this loan. No capital repayments or new loan advances took place during the year. The loan is repayable on demand. No impairment indicators were identified and no impairment has been recognised.

17. Controlling Parties

The members are considered to be the ultimate controlling parties of the LLP. There is no single controlling party.

Page 16