REGISTERED NUMBER: SO302777 (Scotland)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

MUIRDEN ENERGY 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:

D A S Green

A J Duncan

Muirden 1 Ltd

Green Future Farms Ltd

A W J Fowlie

AWJF Limited

REGISTERED OFFICE:

Muirden Farm

Turriff

Aberdeenshire

AB53 4NH

REGISTERED NUMBER:

SO302777 (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:

D A S Green

A J Duncan

Muirden 1 Ltd

Green Future Farms Ltd

A W J Fowlie

AWJF Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The loss for the year before members' remuneration and profit shares was £183,369 (2024 - £176,059 loss).

MEMBERS' INTERESTS

Members are entitled to make drawings on their share of revenue profits or capital profits up to the amount determined by the Members for each period.

New members can be admitted by a unanimous vote of the Designated Members.

ON BEHALF OF THE MEMBERS:

D A S Green - Designated member

31 December 2025

TURNOVER

787,919

642,838

Changes in stocks of finished goods and work in progress

(20,122

)

110,428

767,797

753,266

Other operating income

19

-

767,816

753,266

Raw materials and consumables

(264,237

)

(334,273

)

503,579

418,993

Staff costs

3

(477,739

)

(392,026

)

Depreciation

(16,221

)

(18,799

)

Other operating expenses

(192,988

)

(184,227

)

OPERATING LOSS and

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

(183,369

)

(176,059

)

FIXED ASSETS

Tangible assets

5

54,718

40,867

CURRENT ASSETS

Stocks

1,288,588

1,308,710

Debtors

6

1,465,735

1,329,790

Cash at bank

164,443

2,842

2,918,766

2,641,342

CREDITORS

Amounts falling due within one year

7

(144,473

)

(78,198

)

NET CURRENT ASSETS

2,774,293

2,563,144

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

2,829,011

2,604,011

LOANS AND OTHER DEBTS DUE TO MEMBERS

-

-

MEMBERS' OTHER INTERESTS

Capital accounts

2,829,011

2,604,011

2,829,011

2,604,011

TOTAL MEMBERS' INTERESTS

Members' other interests

2,829,011

2,604,011

Amounts due from members

6

(1,177,422

)

(993,912

)

1,651,589

1,610,099

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

2,604,011

-

2,604,011

Loss for the financial year available for discretionary division among members

-

(183,369

)

(183,369

)

Members' interests after loss for the year

2,604,011

(183,369

)

2,420,642

Other divisions of loss

-

183,369

183,369

Introduced by members

225,000

-

225,000

Drawings on account and distributions of profit

-

-

-

Balance at 31 March 2025

2,829,011

-

2,829,011

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

-

Amount due from members

(993,912

)

Balance at 1 April 2024

(993,912

)

1,610,099

Loss for the financial year available for discretionary division among members

-

(183,369

)

Members' interests after loss for the year

(993,912

)

1,426,730

Other divisions of loss

(183,369

)

-

Introduced by members

-

225,000

Drawings on account and distributions of profit

(141

)

(141

)

Amount due to members

-

Amount due from members

(1,177,422

)

Balance at 31 March 2025

(1,177,422

)

1,651,589

EQUITY

Members' other interests

Members'

capital

(classified

as

Other

equity)

reserves

Total

£

£

£

Balance at 1 May 2023

2,414,011

-

2,414,011

Loss for the financial year available for discretionary division among members

-

(176,059

)

(176,059

)

Members' interests after loss for the year

2,414,011

(176,059

)

2,237,952

Other divisions of loss

-

176,059

176,059

Introduced by members

190,000

-

190,000

Balance at 31 March 2024

2,604,011

-

2,604,011

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

-

Amount due from members

(822,541

)

Balance at 1 May 2023

(822,541

)

1,591,470

Loss for the financial year available for discretionary division among members

-

(176,059

)

Members' interests after loss for the year

(822,541

)

1,415,411

Other divisions of loss

(176,059

)

-

Introduced by members

4,688

194,688

Amount due to members

-

Amount due from members

(993,912

)

Balance at 31 March 2024

(993,912

)

1,610,099

1.	STATUTORY INFORMATION

Muirden Energy LLP is registered in Scotland, registration number SO302777. The registered office is Muirden Farm, Turriff, Aberdeenshire, AB53 4NH.

The principal activity of the LLP is the management and development of renewable energy projects.

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 below.

Work in progress

Each project is reviewed annually by the Business Manager resulting in a success % attributed to the likelihood of achieving a successful planning outcome, based on each individual scheme, the local knowledge and feed back that has been generated during the planning process. Provision generally applied as follows:

- early planning stage 65% success i.e. provision made for 35% of the total cost

- mid planning stage 50% success i.e. provision made for 50% of the total cost

- late planning stage 35% success i.e. provision made for 65% of the total cost

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.

Services

Income from project management, construction supervision, arranging finance and development fees for renewable energy projects is recognised when performed, such that risks and rewards have been transferred to the customer.

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 etc

-

20% on cost

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

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.

Short term employee benefits

Short term employee benefits, including holiday pay, are recognised as an expense in profit and loss in the period in which they are incurred. A liability is recognised for the amount expected to be paid if the LLP has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee, and the obligation can be estimated reliably.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 7 (2024 - 7 ) .

4.	OPERATING LOSS

The operating loss is stated after charging:

Period

1.5.23

Year Ended

to

31.3.25

31.3.24

£

£

Depreciation - owned assets

15,544

18,368

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

215,333

Additions

30,073

Disposals

(2,068

)

At 31 March 2025

243,338

DEPRECIATION

At 1 April 2024

174,466

Charge for year

15,544

Eliminated on disposal

(1,390

)

At 31 March 2025

188,620

NET BOOK VALUE

At 31 March 2025

54,718

At 31 March 2024

40,867

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

275,306

165,887

Other debtors

1,190,429

1,163,903

1,465,735

1,329,790

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

48,787

39,732

Taxation and social security

66,199

13,433

Other creditors

29,487

25,033

144,473

78,198

8.	SECURED DEBTS

A fixed charge over all assets of Muirden Energy is in place in favour of Close Leasing Ltd in relation to the borrowings of 6 connected LLPs.