Registration number: OC335221

Castletown TRST LLP

Contents

Accountants' Report	1
Financial Statements	2
Balance Sheet	2
Notes to the Financial Statements	4

Chartered Accountants' Report to the Members on the Preparation of the Unaudited Statutory Accounts of
Castletown TRST LLP
for the 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, we have prepared for your approval the accounts of Castletown TRST LLP for the year ended 31 March 2026 set out on pages 2 to 9 from the limited liability partnership's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the members of Castletown TRST LLP, as a body, in accordance with the terms of our engagement letter dated 17 July 2025. Our work has been undertaken solely to prepare for your approval the accounts of Castletown TRST LLP and state those matters that we have agreed to state to the members of Castletown TRST LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Castletown TRST LLP and its members as a body for our work or for this report.

It is your duty to ensure that Castletown TRST LLP has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Castletown TRST LLP. You consider that Castletown TRST LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Castletown TRST LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Dodd & Co Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

10 July 2026

Castletown TRST LLP

(Registration number: OC335221)
Balance Sheet as at 31 March 2026

	Note	2026  £	2025  £
Fixed assets
Tangible assets	4	2,926,742	2,926,886
Current assets
Stocks	5	44,642	60,172
Debtors	6	297,088	241,599
Cash and short-term deposits		98,829	259,137
		440,559	560,908
Creditors: Amounts falling due within one year	7	(135,115)	(275,827)
Net current assets		305,444	285,081
Total assets less current liabilities		3,232,186	3,211,967
Creditors: Amounts falling due after more than one year	8	(434,832)	(474,952)
Net assets attributable to members		2,797,354	2,737,015
Represented by:
Loans and other debts due to members
Members' capital classified as a liability		694,497	634,158
Members’ other interests
Members' capital classified as equity		2,102,857	2,102,857
		2,797,354	2,737,015
Total members' interests
Loans and other debts due to members		694,497	634,158
Equity		2,102,857	2,102,857
		2,797,354	2,737,015

Castletown TRST LLP

(Registration number: OC335221)
Balance Sheet as at 31 March 2026

For the year ending 31 March 2026 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of Castletown TRST LLP (registered number OC335221) were approved by the Board and authorised for issue on 10 July 2026. They were signed on behalf of the limited liability partnership by:

......................................... T H Mounsey-Heysham Designated member

Castletown TRST LLP

Notes to the Financial Statements for the Year Ended 31 March 2026

1	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Castletown TRST LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

The address of the registered office is:
Castletown Estate Office
Rockcliffe
CARLISLE
CA6 4BN

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Government grants

Government grants such as the basic payment scheme are included in the profit and loss account
when all the necessary conditions for receipt have been met.

Grants relating to revenue are recognised in the profit and loss account on a systematic basis over the periods in which the related costs are recognised for which the grant is intended to compensate.

Grants for the purpose of giving immediate financial support with no future related costs to be incurred are recognised in the profit and loss account when the grant proceeds become receivable.

Basic payment scheme amortisation

The amount paid in connection with the purchase of the basic payment scheme entitlement is being amortised over the useful economic life of that entitlement. In addition, an annual impairment review is
being performed.

Castletown TRST LLP

Notes to the Financial Statements for the Year Ended 31 March 2026

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Intangible assets

Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Castletown TRST LLP

Notes to the Financial Statements for the Year Ended 31 March 2026

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Land and buildings	No depreciation
Plant and equipment	20% reducing balance basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

2	Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 4 (2025 - 3).

Castletown TRST LLP

Notes to the Financial Statements for the Year Ended 31 March 2026

3	Intangible fixed assets

	Basic payment entitlements £	Total £
Cost
At 1 April 2025	51,641	51,641
At 31 March 2026	51,641	51,641
Amortisation
At 1 April 2025	51,641	51,641
At 31 March 2026	51,641	51,641
Net book value
At 31 March 2026	-	-
At 31 March 2025	-	-

Castletown TRST LLP

Notes to the Financial Statements for the Year Ended 31 March 2026

4	Tangible fixed assets

	Land and buildings £	Plant and machinery £	Total £
Cost
At 1 April 2025	2,926,167	3,280	2,929,447
At 31 March 2026	2,926,167	3,280	2,929,447
Depreciation
At 1 April 2025	-	2,561	2,561
Charge for the year	-	144	144
At 31 March 2026	-	2,705	2,705
Net book value
At 31 March 2026	2,926,167	575	2,926,742
At 31 March 2025	2,926,167	719	2,926,886

5

Stocks

	2026  £	2025  £
Stocks	44,642	60,172

6

Debtors

	2026  £	2025  £
Trade debtors	1,471	16,083
Other debtors	281,394	225,516
Prepayments and accrued income	14,223	-
	297,088	241,599

Castletown TRST LLP

Notes to the Financial Statements for the Year Ended 31 March 2026

7	Creditors: Amounts falling due within one year

	2026  £	2025  £
Bank loans and overdrafts	38,860	37,970
Trade creditors	44,557	104,368
Other creditors	-	20,769
Accruals and deferred income	51,698	112,720
	135,115	275,827

Creditors amounts falling due within one year includes the following liabilities, on which security has been given by the limited liability partnership:

	2026  £	2025  £
Bank loans and overdrafts	38,861	37,970

Bank loans and overdrafts are secured by way of a legal charge over the LLP's assets.

8	Creditors: Amounts falling due after more than one year

	2026  £	2025  £
Bank loans and overdrafts	434,832	474,952

Creditors amounts falling due after more than one year includes the following liabilities, on which security has been given by the limited liability partnership:

	2026  £	2025  £
Bank loans and overdrafts	434,831	474,952

Bank loans and overdrafts are secured by way of a legal charge over the LLP's assets.

Included in the creditors are the following amounts due after more than five years:

	2026  £	2025  £
After more than five years by instalments	306,749	340,789