REGISTERED NUMBER: SO304056 (Scotland)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

SHIELBOG RENEWABLES LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Statement of Financial Position

4

Reconciliation of Members' Interests

6

Notes to the Financial Statements

8

DESIGNATED MEMBERS:

J M Barron

A J Barron

A J Duncan

A W J Fowlie

D A S Green

REGISTERED OFFICE:

Muirden Farm

Turriff

Aberdeenshire

AB53 4NH

REGISTERED NUMBER:

SO304056 (Scotland)

ACCOUNTANTS:

Thomas Barrie & Co LLP

Atlantic House

1a Cadogan Street

Glasgow

G2 6QE

The members present their report with the financial statements of the LLP for the year ended 31 March 2025.

DESIGNATED MEMBERS

The designated members during the year under review were:

J M Barron

A J Barron

A J Duncan

A W J Fowlie

D A S Green

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £59,772 (2024 - £32,065 profit).

MEMBERS' INTERESTS

Income profits and capital profits from the activities of the LLP are allocated amongst the members in their Agreed Proportions and shall be allocated to their current accounts when the accounts for each period are signed by the Designated Members. Each member shall be paid their share of profits when the members determine once the LLP has serviced its borrowings and has sufficient reserves to meet current and anticipated cash flow requirements.

ON BEHALF OF THE MEMBERS:

D A S Green - Designated member

31 December 2025

TURNOVER

125,335

91,565

Depreciation

(28,024

)

(25,688

)

Other operating expenses

(37,539

)

(33,812

)

OPERATING PROFIT and

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

59,772

32,065

FIXED ASSETS

Tangible assets

5

268,558

296,582

CURRENT ASSETS

Debtors

6

41,043

37,778

Cash at bank

13,260

16,433

54,303

54,211

CREDITORS

Amounts falling due within one year

7

(10,514

)

(10,218

)

NET CURRENT ASSETS

43,789

43,993

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

312,347

340,575

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

267,429

207,657

MEMBERS' OTHER INTERESTS

Capital accounts

44,918

132,918

312,347

340,575

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

267,429

207,657

Members' other interests

44,918

132,918

312,347

340,575

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 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 31 December 2025 and were signed by:

D A S Green - Designated member

EQUITY

Members' other interests

Members'

capital

(classified

as

Other

equity)

reserves

Total

£

£

£

Balance at 1 April 2024

132,918

-

132,918

Profit for the financial year available for discretionary division among members

-

59,772

59,772

Members' interests after profit for the year

132,918

59,772

192,690

Other divisions of profit

-

(59,772

)

(59,772

)

Repayments of capital

(88,000

)

-

(88,000

)

Balance at 31 March 2025

44,918

-

44,918

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

207,657

Amount due from members

-

Balance at 1 April 2024

207,657

340,575

Profit for the financial year available for discretionary division among members

-

59,772

Members' interests after profit for the year

207,657

400,347

Other divisions of profit

59,772

-

Repayments of capital

-

(88,000

)

Amount due to members

267,429

Amount due from members

-

Balance at 31 March 2025

267,429

312,347

EQUITY

Members' other interests

Members'

capital

(classified

as

Other

equity)

reserves

Total

£

£

£

Balance at 1 May 2023

181,918

-

181,918

Profit for the financial year available for discretionary division among members

-

32,065

32,065

Members' interests after profit for the year

181,918

32,065

213,983

Other divisions of profit

-

(32,065

)

(32,065

)

Repayments of capital

(49,000

)

-

(49,000

)

Balance at 31 March 2024

132,918

-

132,918

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

175,592

Amount due from members

-

Balance at 1 May 2023

175,592

357,510

Profit for the financial year available for discretionary division among members

-

32,065

Members' interests after profit for the year

175,592

389,575

Other divisions of profit

32,065

-

Repayments of capital

-

(49,000

)

Amount due to members

207,657

Amount due from members

-

Balance at 31 March 2024

207,657

340,575

1.	STATUTORY INFORMATION

Shielbog Renewables Llp is registered in Scotland, registration number SO304056. The registered office is Muirden Farm, Turriff, Aberdeenshire, AB53 4NH.

The principal activity of the LLP is renewable energy.

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.

The presentational and functional currency of the financial statements is Pounds Sterling (£).

Significant judgements and estimates

In preparing these financial statements, the members are required to make judgements, estimates and assumptions that affect the application of the LLP's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.

The following judgements and estimates have had the most significant effects on amounts recognised in the financial statements:

Plant and equipment

The estimates and assumptions made to determine asset lives require judgements to be made as regards useful lives and residual values. The useful lives and residual values of the LLP's financial assets are determined by management at the time the asset is acquired and reviewed annually for appropriateness. The lives are based on management experience with similar assets. The depreciation rates applied are outlined later in these notes.

Turnover

Turnover is measured at the fair value of consideration received or receivable, taking into account the amount of any discounts and rebates allowed by the entity, but excluding value added tax and other sales taxes.

Production of electricity

Income is recognised in the period in which the electricity has been generated.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

5% on cost

The carrying values of tangible fixed assets are reviewed for impairment if events or changes in circumstances indicate the carrying values may not be reasonable.

Financial instruments

The LLP has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances.

Creditors

Short term trade creditors are measured at the transaction price.

Provisions

Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEE INFORMATION

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

4.	OPERATING PROFIT

The operating profit is stated after charging:

Period

1.5.23

Year Ended

to

31.3.25

31.3.24

£

£

Depreciation - owned assets

28,024

25,688

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2024

and 31 March 2025

560,470

DEPRECIATION

At 1 April 2024

263,888

Charge for year

28,024

At 31 March 2025

291,912

NET BOOK VALUE

At 31 March 2025

268,558

At 31 March 2024

296,582

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

26,964

22,314

Other debtors

14,079

15,464

41,043

37,778

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

4,864

4,241

Taxation and social security

193

152

Other creditors

5,457

5,825

10,514

10,218

8.

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 a 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.

9.	RELATED PARTY DISCLOSURES

During the year, rent to the value of £11,878 (2024 - £10,240) was paid to Shielbog Energy Ltd, a company in which Mr & Mrs Barron are directors.