Millden Sporting LLP - LLP accounts 24.3

REGISTERED NUMBER: SO300407 (Scotland)

Report of the Members and

Unaudited Financial Statements for the Year Ended 31 March 2026

for

Millden Sporting LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

R P Hanson

Millden Holdings Limited

REGISTERED OFFICE:

King James Vi Business

Riverview Business Park

Friarton Road

Perth

Perthshire

PH2 8DY

REGISTERED NUMBER:

SO300407 (Scotland)

ACCOUNTANTS:

EQ Accountants Ltd

47-49 The Square

Kelso

Roxburghshire

TD5 7HW

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 managing grouse moors, the sporting assets of Scottish estates and the collection of rents from such estates.

DESIGNATED MEMBERS

The designated members during the year under review were:

R P Hanson

Millden Holdings Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The loss for the year before members' remuneration and profit shares was £1,402,626 (2025 - £1,922,139 loss).

MEMBERS' INTERESTS

The member's drawing policy allows each member to draw a proportion of their profit share, subject to the cash requirements of the business.

A members' capital requirement is linked to their share of profit and the financing requirement of the limited liability partnership. There is no opportunity for appreciation of the capital subscribed. Just as incoming members introduce capital at "par", so the retiring members are repaid their capital at "par".

ON BEHALF OF THE MEMBERS:

R P Hanson - Designated member

27 August 2026

REVENUE

663,933

252,003

Cost of sales

837,797

690,721

GROSS LOSS

(173,864

)

(438,718

)

Administrative expenses

1,237,488

1,359,477

(1,411,352

)

(1,798,195

)

Other operating income

142,396

93,817

OPERATING LOSS

3

(1,268,956

)

(1,704,378

)

Interest receivable and similar income

2,172

2,386

(1,266,784

)

(1,701,992

)

Interest payable and similar expenses

135,842

220,147

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

(1,402,626

)

(1,922,139

)

FIXED ASSETS

Property, plant and equipment

4

18,696,800

18,972,460

Investments

5

99

18,696,899

18,972,559

CURRENT ASSETS

Inventories

21,462

19,628

Debtors

6

373,972

334,894

Cash at bank and in hand

258,758

130,557

654,192

485,079

CREDITORS

Amounts falling due within one year

7

91,799

85,535

NET CURRENT ASSETS

562,393

399,544

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO
MEMBERS

19,259,292

19,372,103

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

14,367,298

14,480,109

MEMBERS' OTHER INTERESTS

Capital accounts

4,891,994

19,259,292

19,372,103

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

14,367,298

14,480,109

Members' other interests

4,891,994

19,259,292

19,372,103

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 27 August 2026 and were signed by:

R P Hanson - Designated member

1.	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

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Freehold property

-

Straight line over 50 years

Improvements to property

-

10% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

2.	EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2025 - 1 ) .

3.	OPERATING LOSS

The operating loss is stated after charging:

31/3/26

31/3/25

£

Depreciation - owned assets

329,160

334,300

4.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Freehold

to

Plant and

property

machinery

£

COST

At 1 April 2025

19,737,274

169,394

793,888

Additions

-

9,637

15,566

Disposals

-

At 31 March 2026

19,737,274

179,031

809,454

DEPRECIATION

At 1 April 2025

4,306,014

30,316

563,283

Charge for year

185,829

17,156

47,166

Eliminated on disposal

-

At 31 March 2026

4,491,843

47,472

610,449

NET BOOK VALUE

At 31 March 2026

15,245,431

131,559

199,005

At 31 March 2025

15,431,260

139,078

230,605

Fixtures

and

Motor

fittings

vehicles

Totals

£

COST

At 1 April 2025

4,343,804

691,004

25,735,364

Additions

-

89,384

114,587

Disposals

-

(106,242

)

(106,242

)

At 31 March 2026

4,343,804

674,146

25,743,709

DEPRECIATION

At 1 April 2025

1,384,890

478,401

6,762,904

Charge for year

26,537

52,472

329,160

Eliminated on disposal

-

(45,155

)

(45,155

)

At 31 March 2026

1,411,427

485,718

7,046,909

NET BOOK VALUE

At 31 March 2026

2,932,377

188,428

18,696,800

At 31 March 2025

2,958,914

212,603

18,972,460

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2025

and 31 March 2026

99

NET BOOK VALUE

At 31 March 2026

99

At 31 March 2025

99

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/26

31/3/25

£

Trade debtors

11,258

9,341

Millden Agricultural LLP

266,345

218,187

VAT

-

9,523

Prepayments

96,369

97,843

373,972

334,894

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/26

31/3/25

£

Trade creditors

73,045

71,432

Social security and other taxes

3,160

6,395

VAT

6,593

-

Other creditors

697

Accrued expenses

8,304

7,011

91,799

85,535

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank behind secured creditors but pari passu with other unsecured creditors.