REGISTERED NUMBER: OC395792 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2026

for

Clipper BCS LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

Knaresborough Investments Limited

S N Parkin

Branton Court Stables Limited

REGISTERED OFFICE:

Knaresborough Group

1 City West

Gelderd Road

Leeds

LS12 6NJ

REGISTERED NUMBER:

OC395792 (England and Wales)

FIXED ASSETS

Tangible assets

5

4,826,827

5,725,519

Investments

6

100

100

4,826,927

5,725,619

CURRENT ASSETS

Stocks

5,056,639

9,330,854

Debtors

7

54,495,397

59,008,826

Prepayments and accrued income

404,921

75,047

Cash in hand

127,381

252,239

60,084,338

68,666,966

CREDITORS

Amounts falling due within one year

8

(770,323

)

(1,245,661

)

NET CURRENT ASSETS

59,314,015

67,421,305

TOTAL ASSETS LESS CURRENT LIABILITIES

64,140,942

73,146,924

CREDITORS

Amounts falling due after more than one year

9

(4,040

)

(17,943

)

NET ASSETS ATTRIBUTABLE TO MEMBERS

64,136,902

73,128,981

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.

LOANS AND OTHER DEBTS DUE TO MEMBERS

-

-

MEMBERS' OTHER INTERESTS

Capital accounts

64,136,902

73,128,981

64,136,902

73,128,981

TOTAL MEMBERS' INTERESTS

Members' other interests

64,136,902

73,128,981

Amounts due from members

7

(52,946,612

)

(51,098,987

)

11,190,290

22,029,994

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 and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 23 September 2026 and were signed by:

Knaresborough Investments Limited - Designated member

1.	STATUTORY INFORMATION

Clipper BCS LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Turnover

Turnover 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

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:

Freehold property - 0%

Property improvements - 10% RL

Plant and machinery - 15% RL

Fixtures and fittings - 10% RL

Motor vehicles - 20% RL

Equipment - 15% RL

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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Bloodstock is split into the following categories:

Stud farm:

Stallions and stallion shares

Broodmares

Yearlings

Foals

Racing:

Horses in training.

Bloodstock is valued individually at the lower of cost and net realisable value with the exception of horses that have been transferred to or from training. These are valued individually at the lower of valuation at the date of transfer and valuation at the balance sheet date.

Stallions and stallion shares

The book value of each stallion or stallion share is generally written off on a straight-line basis so that it is nil at the end of the year in which the stallion reaches fifteen years of age. In exceptional circumstances, where this method does not give a reasonable approximation of an individual stallion's net realisable value, a more appropriate valuation is used. It is not usually appropriate to adjust a stallion's book value upwards as there is limited market for older stallions.

Broodmares

The book value of each broodmare is considered on an annual basis and impairment adjustments are made where necessary. This is considered to be more appropriate than applying a systematic depreciation charge for this category of bloodstock.

Foals and yearlings

The cost of homebred foals is determined as the open market valuation of the appropriate nomination fee, or the actual fee paid, plus the cost of keeping the mare during the gestation period. The cost of foals and yearlings is increased by the cost of their keep from the date of their weaning, which is assumed to be 1st October, until they are sold or transferred to training. The cost of foals and yearlings is not depreciated. Impairment adjustments are made where necessary.

Horses in training

The book value of each horse in training is considered on an annual basis and impairment adjustments are made where necessary. This is considered to be more appropriate than applying a systematic depreciation charge for this category of bloodstock.

Other inventories

Other inventories comprise purchased fee and bedding valued at the lower of cost and net realisable value.

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.

4.	EMPLOYEE INFORMATION

The average number of employees during the year was 8 (2025 - 8 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2025

6,976,939

864,622

7,841,561

Disposals

(389,975

)

(87,335

)

(477,310

)

At 31 March 2026

6,586,964

777,287

7,364,251

DEPRECIATION

At 1 April 2025

1,580,989

535,053

2,116,042

Charge for year

443,743

59,949

503,692

Eliminated on disposal

-

(82,310

)

(82,310

)

At 31 March 2026

2,024,732

512,692

2,537,424

NET BOOK VALUE

At 31 March 2026

4,562,232

264,595

4,826,827

At 31 March 2025

5,395,950

329,569

5,725,519

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertaki

£

COST

At 1 April 2025

and 31 March 2026

100

NET BOOK VALUE

At 31 March 2026

100

At 31 March 2025

100

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/26

31/3/25

£

£

Other debtors

54,495,397

59,008,826

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/26

31/3/25

£

£

Hire purchase contracts

16,902

16,902

Trade creditors

704,092

1,170,089

Taxation and social security

9,654

23,986

Other creditors

39,675

34,684

770,323

1,245,661

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/26

31/3/25

£

£

Hire purchase contracts

4,040

17,943