B & L Emmett LLP - LLP accounts 24.3

REGISTERED NUMBER: OC427137 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

B & L EMMETT LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

B G Emmett

L Wiggins

REGISTERED OFFICE:

Foxley Court Farm

Touchen End

Holyport

Maidenhead

Berkshire

SL6 3LA

REGISTERED NUMBER:

OC427137 (England and Wales)

ACCOUNTANTS:

Oury Clark Chartered Accountants

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

The members present their report with the financial statements of the LLP for the year ended 31 March 2026.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of letting farming and storage facilities.

DESIGNATED MEMBERS

The designated members during the year under review were:

B G Emmett

L Wiggins

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £1,321,519 (2025 - £1,168,731 profit).

MEMBERS' INTERESTS

The members share profits and losses as they arise and in accordance with an agreement between themselves.

There are two designated members as stated on Page 1.

ON BEHALF OF THE MEMBERS:

B G Emmett - Designated member

3 July 2026

TURNOVER

1,606,701

1,512,024

Administrative expenses

292,134

348,882

1,314,567

1,163,142

Other operating income

10,000

OPERATING PROFIT

4

1,324,567

1,173,142

Interest payable and similar expenses

3,048

4,411

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

1,321,519

1,168,731

FIXED ASSETS

Tangible assets

5

12,745,200

12,786,090

CURRENT ASSETS

Debtors

6

12,066

13,305

Prepayments and accrued income

32,785

37,023

Cash at bank

1,701,111

1,419,365

1,745,962

1,469,693

CREDITORS

Amounts falling due within one year

7

330,860

359,289

NET CURRENT ASSETS

1,415,102

1,110,404

TOTAL ASSETS LESS CURRENT
LIABILITIES

14,160,302

13,896,494

CREDITORS

Amounts falling due after more than one
year

8

15,258

48,924

NET ASSETS ATTRIBUTABLE TO
MEMBERS

14,145,044

13,847,570

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

1,918,126

1,620,652

MEMBERS' OTHER INTERESTS

Capital accounts

12,226,918

14,145,044

13,847,570

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

1,918,126

1,620,652

Members' other interests

12,226,918

14,145,044

13,847,570

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 2026.

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 3 July 2026 and were signed by:

B G Emmett - Designated member

L Wiggins - Designated member

1.	STATUTORY INFORMATION

B & L Emmett LLP is registered in England and Wales. 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 derived from the LLP's principal activity of letting farming and storage facilities. Income is recognised through profit and loss as it accrues.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

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

Plant and machinery etc - 25% on reducing balance.

The Members have chosen not to depreciate the freehold land and buildings held by the partnership. This is in contravention of the Companies Act 2006 which requires depreciation to be charged. The Members are of the opinion that the residual value of the property at the end of its useful life is expected to be in excess of the carrying value.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2025 - NIL).

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.3.26

31.3.25

£

Depreciation - owned assets

42,439

48,033

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 April 2025

12,354,650

582,989

12,937,639

Additions

-

1,549

At 31 March 2026

12,354,650

584,538

12,939,188

DEPRECIATION

At 1 April 2025

-

151,549

Charge for year

-

42,439

At 31 March 2026

-

193,988

NET BOOK VALUE

At 31 March 2026

12,354,650

390,550

12,745,200

At 31 March 2025

12,354,650

431,440

12,786,090

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

Trade debtors

11,539

11,266

Other debtors

527

2,039

12,066

13,305

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

Hire purchase contracts

33,694

32,027

Trade creditors

47,321

45,617

Other creditors

249,845

281,645

330,860

359,289

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.26

31.3.25

£

Hire purchase contracts

15,258

48,924

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

31.3.26

31.3.25

£

Amounts owed to members in respect of profits

1,918,126

1,620,652

Falling due within one year

1,918,126

1,620,652

Amounts owed to the members rank equally to all Trade and Other creditors, and profits are recognised as due to the members as they are earned.

10.	GOVERNMENT GRANTS

Rural payments and grants received during the year amount to £42,813 (2025: £52,887).