REGISTERED NUMBER: SO300102 (Scotland)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

GREEN GROWERS 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:

A J Duncan

D A Green

REGISTERED OFFICE:

Muirden Farm

Turriff

Aberdeenshire

AB53 4NH

REGISTERED NUMBER:

SO300102 (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:

A J Duncan

D A Green

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £117,069 (2024 - £75,242 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 Green - Designated member

31 December 2025

TURNOVER

1,240,343

1,105,679

Other operating income

285,744

267,092

1,526,087

1,372,771

Raw materials and consumables

(821,999

)

(800,155

)

704,088

572,616

Depreciation

(103,448

)

(98,936

)

Other operating expenses

(440,680

)

(354,170

)

OPERATING PROFIT

4

159,960

119,510

Interest payable and similar expenses

(42,891

)

(44,268

)

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

117,069

75,242

FIXED ASSETS

Tangible assets

5

1,894,246

1,997,694

Investments

6

500

500

1,894,746

1,998,194

CURRENT ASSETS

Stocks

577,468

581,720

Debtors

7

111,093

222,242

Cash at bank

54,834

71,977

743,395

875,939

CREDITORS

Amounts falling due within one year

8

(297,043

)

(408,674

)

NET CURRENT ASSETS

446,352

467,265

TOTAL ASSETS LESS CURRENT LIABILITIES

2,341,098

2,465,459

CREDITORS

Amounts falling due after more than one year

9

(561,878

)

(625,324

)

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,779,220

1,840,135

LOANS AND OTHER DEBTS DUE TO MEMBERS

11

552,220

613,135

MEMBERS' OTHER INTERESTS

Capital accounts

1,227,000

1,227,000

1,779,220

1,840,135

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

11

552,220

613,135

Members' other interests

1,227,000

1,227,000

1,779,220

1,840,135

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 Green - Designated member

EQUITY

Members' other interests

Members'

capital

(classified

as

Other

equity)

reserves

Total

£

£

£

Balance at 1 April 2024

1,227,000

-

1,227,000

Profit for the financial year available for discretionary division among members

-

117,069

117,069

Members' interests after profit for the year

1,227,000

117,069

1,344,069

Other divisions of profit

-

(117,069

)

(117,069

)

Drawings on account and distributions of profit

-

-

-

Balance at 31 March 2025

1,227,000

-

1,227,000

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

613,135

Amount due from members

-

Balance at 1 April 2024

613,135

1,840,135

Profit for the financial year available for discretionary division among members

-

117,069

Members' interests after profit for the year

613,135

1,957,204

Other divisions of profit

117,069

-

Drawings on account and distributions of profit

(177,984

)

(177,984

)

Amount due to members

552,220

Amount due from members

-

Balance at 31 March 2025

552,220

1,779,220

EQUITY

Members' other interests

Members'

capital

(classified

as

Other

equity)

reserves

Total

£

£

£

Balance at 1 May 2023

1,227,000

-

1,227,000

Profit for the financial year available for discretionary division among members

-

75,242

75,242

Members' interests after profit for the year

1,227,000

75,242

1,302,242

Other divisions of profit

-

(75,242

)

(75,242

)

Drawings on account and distributions of profit

-

-

-

Balance at 31 March 2024

1,227,000

-

1,227,000

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

540,304

Amount due from members

-

Balance at 1 May 2023

540,304

1,767,304

Profit for the financial year available for discretionary division among members

-

75,242

Members' interests after profit for the year

540,304

1,842,546

Other divisions of profit

75,242

-

Drawings on account and distributions of profit

(2,411

)

(2,411

)

Amount due to members

613,135

Amount due from members

-

Balance at 31 March 2024

613,135

1,840,135

1.	STATUTORY INFORMATION

Green Growers LLP is registered in Scotland, registration number SO300102. The registered office is Muirden Farm, Turriff, Aberdeenshire, AB53 4NH.

The principal activity of the LLP is farming.

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.

Stock

Unharvested stock is included at valuation, which relies on the directors applying a suitable methodology as outlined in the "Stock" policy 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.

Crop/Poultry/Sheep Sales

Revenue is recognised when the significant risks and rewards of ownership have been transferred to the customer, recovery of the consideration is probable, the associated costs and possible return of the crops can be estimated reliably, there is no continuing management involvement with the crops, and the amount of revenue can be measured reliably.

Contracting

Income from contracting is recognised when the work has been performed.

Subsidies

Subsidies are recognised in the period to which they relate.

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.

Land and buildings

-

not provided

Plant and machinery etc

-

at varying rates on cost

Freehold property consists of land which is not being depreciated.

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.

Stocks

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

Crop stock

Stock valuation is based on cost per acre of sowing land for unharvested crops and cost per tonne for crops that have been physically harvested by the year end but unsold. Costs are those that are incurred in getting crops to the stage of completion at the year end.

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. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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

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

103,448

98,936

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

1,060,315

1,370,091

2,430,406

DEPRECIATION

At 1 April 2024

-

432,712

432,712

Charge for year

-

103,448

103,448

At 31 March 2025

-

536,160

536,160

NET BOOK VALUE

At 31 March 2025

1,060,315

833,931

1,894,246

At 31 March 2024

1,060,315

937,379

1,997,694

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

and 31 March 2025

500

NET BOOK VALUE

At 31 March 2025

500

At 31 March 2024

500

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

72,973

58,437

Other debtors

38,120

163,805

111,093

222,242

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

63,002

54,449

Hire purchase contracts

-

111,000

Trade creditors

148,389

160,363

Other creditors

85,652

82,862

297,043

408,674

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

561,878

625,324

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

624,880

679,773

Standard Security over the land at Drywells Farm owned by Green Growers LLP has been granted to Agricultural Mortgage Corporation Plc as part of a loan arrangement with AJ Duncan LLP, a company associated with LLP member AJ Duncan.

11.

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.

12.	RELATED PARTY DISCLOSURES

Land rent to the value of £80,780 was paid to LLP member, Mr A J Duncan, during the year (2024 - £74,048).