At the reporting end date the limited liability partnership had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2026        2025

£        £

194,954    240,395

The average number of persons, excluding members, employed by the partnership during the year was as follows:

The members of thetrue LLP have elected not to include a copy of the income statement within the financial statements.

Lumley Baxter Asset Management LLP is a Limited Liability Partnership incorporated in England and Wales. The registered office is The Mending Rooms Park Valley Mills, Meltham Road, Huddersfield, West Yorkshire, England, HD4 7BH.

For the financial year ended 31 March 2026 the Limited Liability Partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime', and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.