Registration number: OC335345

Armeria (UK) 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
Armeria (UK) 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 Armeria (UK) LLP for the year ended 31 March 2026 set out on pages 2 to 10 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 Armeria (UK) 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 Armeria (UK) LLP and state those matters that we have agreed to state to the members of Armeria (UK) 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 Armeria (UK) LLP and its members as a body for our work or for this report.

It is your duty to ensure that Armeria (UK) 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 Armeria (UK) LLP. You consider that Armeria (UK) 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 Armeria (UK) 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

Armeria (UK) LLP

(Registration number: OC335345)
Balance Sheet as at 31 March 2026

	Note	2026  £	2025  £
Fixed assets
Tangible assets	4	3,165,651	3,042,312
Investments	5	8,600	15,137
		3,174,251	3,057,449
Current assets
Stocks	6	988,135	715,453
Debtors	7	828,300	1,352,044
Cash and short-term deposits		3,833	301,458
		1,820,268	2,368,955
Creditors: Amounts falling due within one year	8	(711,489)	(1,525,332)
Net current assets		1,108,779	843,623
Total assets less current liabilities		4,283,030	3,901,072
Creditors: Amounts falling due after more than one year	9	(1,025,250)	(1,096,030)
Net assets attributable to members		3,257,780	2,805,042
Represented by:
Loans and other debts due to members
Members’ other interest		1,275,899	823,161
Members’ other interests
Members' capital classified as equity		1,981,881	1,981,881
		3,257,780	2,805,042
Total members' interests
Loans and other debts due to members		1,275,899	823,161
Equity		1,981,881	1,981,881
		3,257,780	2,805,042

Armeria (UK) LLP

(Registration number: OC335345)
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 Armeria (UK) LLP (registered number OC335345) 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

Armeria (UK) 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 Armeria (UK) 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.

Armeria (UK) 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.

Armeria (UK) 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	20 years straight line basis, and no depreciation
Plant and equipment	20% reducing balance basis

Fixed asset investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Stock

Trading stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. The cost of livestock represents the purchase cost plus any additional costs of rearing the animal. Net realisable value is based on selling price less anticipated selling costs. Crop
stock is valued at fair value less any anticipated costs to sell.

Herd stock is included in the balance sheet at the original cost of the herd adjusted annually for
additions to, or disposals from the herd.

Additions to the herd are included at cost except where there is a reinstatement of disposals to the
herd from the prior year. In this case they are reinstated at the prior year disposal value.

Disposals to the herd are disposed of at an average cost except where there have been additions to
the herd in the prior year. In this case they are disposed of on a last in first out basis.

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.

Armeria (UK) LLP

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

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.

Pensions and other post retirement obligations

The partnership operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 10 (2025 - 10).

3	Intangible fixed assets

	Basic payment entitlements £	Total £
Cost
At 1 April 2025	188,217	188,217
At 31 March 2026	188,217	188,217
Amortisation
At 1 April 2025	188,217	188,217
At 31 March 2026	188,217	188,217
Net book value
At 31 March 2026	-	-
At 31 March 2025	-	-

Armeria (UK) 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	2,721,038	881,147	3,602,185
Additions	143,189	142,389	285,578
Disposals	-	(142,628)	(142,628)
At 31 March 2026	2,864,227	880,908	3,745,135
Depreciation
At 1 April 2025	100,209	459,664	559,873
Charge for the year	12,158	90,807	102,965
Eliminated on disposals	-	(83,354)	(83,354)
At 31 March 2026	112,367	467,117	579,484
Net book value
At 31 March 2026	2,751,860	413,791	3,165,651
At 31 March 2025	2,620,829	421,483	3,042,312

5	Investments held as fixed assets

	2026  £	2025  £
Other investments	8,600	15,137

Other investments

	Listed investments £	Total £
Cost
At 1 April 2025	15,137	15,137
Revaluation	(6,537)	(6,537)
At 31 March 2026	8,600	8,600
Net book value
At 31 March 2026	8,600	8,600
At 31 March 2025	15,137	15,137

Armeria (UK) LLP

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

6

Stocks

	2026  £	2025  £
Stocks	988,135	715,453

7

Debtors

	2026  £	2025  £
Trade debtors	266,389	639,656
Other debtors	333,349	187,723
Prepayments and accrued income	228,562	524,665
	828,300	1,352,044

8	Creditors: Amounts falling due within one year

	2026  £	2025  £
Bank loans and overdrafts	62,120	68,699
Trade creditors	232,600	568,194
Other creditors	322,137	753,009
Accruals and deferred income	84,649	126,421
Taxation and social security	9,983	9,009
	711,489	1,525,332

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	62,120	68,699
Other creditors	38,207	29,747
	100,327	98,446

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

Other creditors include hire purchase liabilities which are secured against the assets they relate to.

Armeria (UK) LLP

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

9	Creditors: Amounts falling due after more than one year

	2026  £	2025  £
Bank loans and overdrafts	955,723	1,026,029
Other creditors	69,527	70,001
	1,025,250	1,096,030

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	955,723	1,026,029
Other creditors	78,271	70,001
	1,033,994	1,096,030

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

Other creditors include hire purchase liabilities which are secured against the assets they relate to.

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

	2026  £	2025  £
After more than five years by instalments	721,089	760,188

10	Financial instruments

Financial assets measured at fair value

H&H shares
The method used for determining fair value is based on the quoted price in an active market.

The fair value is £8,600 (2025 - £15,137) and the change in value included in profit or loss is (£6,537) (2025 - (£1,972)).