D & J Warden (Farming) LLP

	Page
Balance Sheet	1—2
Reconciliation of Members' Interests	3—5
Notes to the Financial Statements	5—8

	EQUITY			DEBT
	Members' other interests			Loans and other debts due to members less any amounts due from members in debtors
	Members'Capital classified as Equity	Other Reserves	Total Equity	Members'Capital classified as Debt
	£	£	£	£
Amounts due to members	-	-	-	148,750

Balance at 1 April 2024	196,617	-	196,617	148,750
Profit/(loss) for the financial year available for discretionary division among members	-	(5,703 )	(5,703 )	-

Members' interests after profit/(loss) for the year	196,617	(5,703)	190,914	148,750
Other divisions of profits (losses)	-	5,703	5,703	-
Introduced by members	-	-	-	13,269
Drawings	-	-	-	-
Repayment of Capital	-	-	-	(9,530)
Other Movements	-	-	-	(5,703)

Amounts due to members	-	-	-	146,786

As at 31 March 2025 and 1 April 2025	196,617	-	196,617	146,786


Profit/(loss) for the financial year available for discretionary division among members	-	69,375	69,375	-

Members' interests after profit/(loss) for the year	196,617	69,375	265,992	146,786
Other divisions of profits (losses)	-	(69,375)	(69,375)	-
Introduced by members	-	-	-	23,762
Drawings	-	-	-	-
Other Movements	-	-	-	52,451

Amounts due to members	-	-	-	222,999

As at 31 March 2026	196,617	-	196,617	222,999

	DEBT
	Loans and other debts due to members less any amounts due from members in debtors
	Other amounts	Total Debts	Total members' interest
	£	£	£
Amounts due to members	-	148,750	-

Balance at 1 April 2024	-	148,750	345,367
Profit/(loss) for the financial year available for discretionary division among members	-	-	(5,703 )

Members' interests after profit/(loss) for the year	-	148,750	339,664

...CONTINUED

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D & J Warden (Farming) LLP

Reconciliation of Members' Interests (continued)

For The Year Ended 31 March 2026

Other divisions of profits (losses)	(5,703)	(5,703)	-
Introduced by members	-	13,269	13,269
Drawings	5,703	5,703	5,703
Repayment of Capital	-	(9,530)	(9,530)
Other Movements	-	(5,703)	(5,703)

Amounts due to members	-	146,786	-

As at 31 March 2025 and 1 April 2025	-	146,786	343,403


Profit/(loss) for the financial year available for discretionary division among members	-	-	69,375

Members' interests after profit/(loss) for the year	-	146,786	412,778
Other divisions of profits (losses)	69,375	69,375	-
Introduced by members	-	23,762	23,762
Drawings	(69,375)	(69,375)	(69,375)
Other Movements	-	52,451	52,451

Amounts due to members	-	222,999	-

As at 31 March 2026	-	222,999	419,616

Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.

The loans are interest free and have no fixed terms of repayment.

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D & J Warden (Farming) LLP

Notes to the Financial Statements

For The Year Ended 31 March 2026

Notes to the Financial Statements

1. General Information

D & J Warden (Farming) LLP is a limited liability partnership, incorporated in Scotland, registered number SO302905 . The Registered Office is North Mains Of Dun , Montrose, Angus, DD10 9LW.

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 for small limited liability partnerships regime - 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 May 2024 (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. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. 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	15% reducing balance
Plant & Machinery	15% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	20% reducing balance
Computer Equipment	20% reducing balance

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the LLP. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress 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. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: 8 (2025: 8)

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D & J Warden (Farming) LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 April 2025	904,185	231,276	25,000	88,786
Additions	-	22,792	2,000	-
Disposals	-	(2,500 )	-	-

As at 31 March 2026	904,185	251,568	27,000	88,786

Depreciation
As at 1 April 2025	27,158	126,238	25,000	85,054
Provided during the period	889	16,676	42	3,731
Disposals	-	(2,050 )	-	-

As at 31 March 2026	28,047	140,864	25,042	88,785

Net Book Value
As at 31 March 2026	876,138	110,704	1,958	1

As at 1 April 2025	877,027	105,038	-	3,732


	Computer Equipment	Total
	£	£
Cost
As at 1 April 2025	1,660	1,250,907
Additions	-	24,792
Disposals	-	(2,500 )

As at 31 March 2026	1,660	1,273,199

Depreciation
As at 1 April 2025	722	264,172
Provided during the period	190	21,528
Disposals	-	(2,050 )

As at 31 March 2026	912	283,650

Net Book Value
As at 31 March 2026	748	989,549

As at 1 April 2025	938	986,735

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2026	2025
	£	£
Plant & Machinery	37,550	44,177

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D & J Warden (Farming) LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

5. Stocks

	2026	2025
	£	£
Stock	15,345	11,904

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	6,164	4,263
Prepayments and accrued income	13,567	14,536
VAT	7,745	-

	27,476	18,799

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	9,306	10,743
Trade creditors	21,425	4,190
Bank loans and overdrafts	30,424	34,566
Other taxes and social security	751	161
Other creditors	1,422	1,434
Accruals and deferred income	4,916	3,853

	68,244	54,947

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

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	-	9,306
Bank loans	579,535	609,782

	579,535	619,088

Of the creditors falling due after more than one year the following amounts are due after more than five years.

	2026		2025
	£		£
Bank loans	440,451		474,516

9. Secured Creditors

Obligations under HP agreements are secured against the asset to which they relate.

The Agricultural Mortgage Corporation PLC holds a standard security over all and whole of the land owned by the LLP

Of the creditors the following amounts are secured.

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	9,306	20,049
Bank loans and overdrafts	606,305	632,570

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D & J Warden (Farming) LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

10. Obligations Under Finance Leases and Hire Purchase

	2026	2025
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	9,306	10,743
Later than one year and not later than five years	-	9,306

	9,306	20,049

	9,306	20,049

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		989,549		986,735

			989,549		986,735
CURRENT ASSETS
Stocks	5	15,345		11,904
Debtors	6	27,476		18,799
Cash at bank and in hand		35,025		-

		77,846		30,703
Creditors: Amounts Falling Due Within One Year	7	(68,244 )		(54,947 )

NET CURRENT ASSETS (LIABILITIES)			9,602		(24,244 )

TOTAL ASSETS LESS CURRENT LIABILITIES			999,151		962,491

Creditors: Amounts Falling Due After More Than One Year	8		(579,535 )		(619,088 )

NET ASSETS ATTRIBUTABLE TO MEMBERS			419,616		343,403

REPRESENTED BY:
Loans and other debts due to members
Members' capital classified as a liability		222,999		146,786

			222,999		146,786

Equity
Members' other interests
Members' capital		196,617		196,617

			196,617		196,617

			419,616		343,403

TOTAL MEMBERS' INTEREST
Loans and other debts due to members			222,999		146,786
Members' other interests			196,617		196,617

			419,616		343,403