Mill and Millard LLP LLP accounts

REGISTERED NUMBER: SO305595

Mill and Millard LLP

Unaudited Financial Statements

31 March 2026

Mill and Millard LLP

Financial Statements

Year ended 31 March 2026

Contents	Page

Members' report	1

Report to the members on the preparation of the unaudited statutory financial statements	2

Statement of comprehensive income	3

Statement of financial position	4

Reconciliation of members' interests	6

Notes to the financial statements	8

Mill and Millard LLP

Members' Report

Year ended 31 March 2026

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

Principal activities

The principal activity of the company during the year was that of solicitors.

Designated members

The designated members who served the LLP during the year were as follows:

Richard Mill
Lucy Millard

Policy regarding members' drawings and the subscription and repayment of amounts subscribed or otherwise contributed by members

Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.

New members are required to subscribe a minimum level of capital and in subsequent years members are invited to subscribe for further capital, the amounts of which is determined by the performance and seniority of those members. On retirement, capital is repaid to members.

This report was approved by the members on 21 August 2026 and signed on behalf of the members by:

Richard Mill

Designated Member

Registered office:

69-71 Dalry Road

Edinburgh

EH11 2AA

Mill and Millard LLP

Report to the Members on the Preparation of the Unaudited Statutory Financial Statements of Mill and Millard LLP

Year ended 31 March 2026

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to limited liability partnerships by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Mill and Millard LLP for the year ended 31 March 2026, which comprise the statement of comprehensive income, statement of financial position, reconciliation of members' interests and the related notes from the LLP's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. Our work has been undertaken in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance.

PATERSON BOYD & CO LIMITED Chartered Certified Accountants

18 North Street Glenrothes Fife KY7 5NA

21 August 2026

Mill and Millard LLP

Statement of Comprehensive Income

Year ended 31 March 2026

		Period from
	Year to	1 Nov 23 to
	31 Mar 26	31 Mar 25
Note	£	£
Turnover	526,997	699,247

	-----------	-----------
Gross profit	526,997	699,247

Administrative expenses		310,746	427,930
		-----------	-----------
Operating profit	5	216,251	271,317

Other interest receivable and similar income	567	1,176
Interest payable and similar expenses	–	817
	-----------	-----------
Profit for the financial year before members' remuneration and profit shares available for discretionary division among members	216,818	271,676
	-----------	-----------

All the activities of the LLP are from continuing operations.

Mill and Millard LLP

Statement of Financial Position

31 March 2026

	2026		2025
Note	£	£	£

Fixed assets

Tangible assets	6		4,006	4,714

Current assets

Stocks		21,056	19,988
Debtors	7	45,990	63,282
Cash at bank and in hand		97,576	135,004
		-----------	-----------
		164,622	218,274

Creditors: amounts falling due within one year	8	35,114		40,292
		-----------		-----------
Net current assets			129,508	177,982
			-----------	-----------
Total assets less current liabilities			133,514	182,696
			-----------	-----------
Net assets			133,514	182,696
			-----------	-----------

Represented by:

Loans and other debts due to members

Other amounts	9	133,514	182,696
		-----------	-----------

Members' other interests

Other reserves	–	–
	-----------	-----------
	133,514	182,696
	-----------	-----------

Total members' interests

Loans and other debts due to members	9	133,514	182,696
Members' other interests		–	–
		-----------	-----------
		133,514	182,696
		-----------	-----------

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 31 March 2026 the LLP 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 LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .

Mill and Millard LLP

Statement of Financial Position (continued)

31 March 2026

These financial statements were approved by the members and authorised for issue on 21 August 2026 , and are signed on their behalf by:

Richard Mill

Designated Member

Registered number: SO305595

Mill and Millard LLP

Reconciliation of Members' Interests

Year ended 31 March 2026

	Members' other interests		Loans and other debts due to members less any amounts due from members in debtors		Total members' interests
	Other reserves	Total	Other amounts	Total	Total 2026
	£	£	£	£	£
Balance at 1 April 2025	–	–	182,696	182,696	182,696
Profit for the financial year available for discretionary division among members	216,818	216,818			216,818
	-----------	-----------	-----------	-----------	-----------
Members' interests after profit for the year	216,818	216,818	182,696	182,696	399,514
Other division of profits	(216,818)	(216,818)	216,818	216,818	–
Drawings			(266,000)	(266,000)	(266,000)
	-----------	-----------	-----------	-----------	-----------
Balance at 31 March 2026	–	–	133,514	133,514	133,514
	-----------	-----------	-----------	-----------	-----------

Mill and Millard LLP

Reconciliation of Members' Interests (continued)

Year ended 31 March 2026

	Members' other interests		Loans and other debts due to members less any amounts due from members in debtors		Total members' interests
	Other reserves	Total	Other amounts	Total	Total 2025
	£	£	£	£	£
Balance at 1 November 2023	–	–	174,020	174,020	174,020
Profit for the financial period available for discretionary division among members	271,676	271,676			271,676
	-----------	-----------	-----------	-----------	-----------
Members' interests after profit for the period	271,676	271,676	174,020	174,020	445,696
Other division of profits	(271,676)	(271,676)	271,676	271,676	–
Drawings			(263,000)	(263,000)	(263,000)
	-----------	-----------	-----------	-----------	-----------
Balance at 31 March 2025	–	–	182,696	182,696	182,696
	-----------	-----------	-----------	-----------	-----------

Mill and Millard LLP

Notes to the Financial Statements

Year ended 31 March 2026

1.	General information

The LLP is registered in Scotland. The address of the registered office is 69-71 Dalry Road, Edinburgh, EH11 2AA.

2.	Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP 2021).

3.	Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	15% reducing balance
Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the LLP are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

The LLP only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4.	Employee numbers

The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 6 (2025: 6 ).

5.	Operating profit

Operating profit or loss is stated after charging:

		Period from
	Year to	1 Nov 23 to
	31 Mar 26	31 Mar 25
	£	£
Depreciation of tangible assets	708	3,363
	-----	--------

6.	Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 April 2025 and 31 March 2026	16,518	9,516	26,034
	---------	--------	---------
Depreciation
At 1 April 2025	11,804	9,516	21,320
Charge for the year	708	–	708
	---------	--------	---------
At 31 March 2026	12,512	9,516	22,028
	---------	--------	---------
Carrying amount
At 31 March 2026	4,006	–	4,006
	---------	--------	---------
At 31 March 2025	4,714	–	4,714
	---------	--------	---------

7.	Debtors

	2026	2025
	£	£
Trade debtors	22,494	39,854
Other debtors	23,496	23,428
	---------	---------
	45,990	63,282
	---------	---------

8. Creditors: amounts falling due within one year

	2026	2025
	£	£
Social security and other taxes	33,814	37,802
Other creditors	1,300	2,490
	---------	---------
	35,114	40,292
	---------	---------

9.	Loans and other debts due to members

	2026	2025
	£	£
Amounts owed to members in respect of profits	133,514	182,696
	-----------	-----------