REGISTERED NUMBER: OC449169 (England and Wales)

Sunderlands Markets LLP

Unaudited Financial Statements

for the Year Ended 31 December 2025

Page

General Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DESIGNATED MEMBERS:

MJ Nicholls

CE Nicholls

RT Matthews

GR Wall

REGISTERED OFFICE:

Hereford Livestock Market

Roman Road

Hereford

HR4 7AN

REGISTERED NUMBER:

OC449169 (England and Wales)

ACCOUNTANTS:

The Hutchinson Partnership Limited

trading as The Hutchinson Partnership

Chartered Accountants

The Bull Pen

Grove Farm

Portway, Burghill

Hereford

HR4 8NF

The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs 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 Sunderlands Markets LLP for the year ended 31 December 2025 which comprise the Profit and Loss Account, Balance Sheet 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 the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that Sunderlands Markets LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sunderlands Markets LLP. You consider that Sunderlands Markets 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 financial statements of Sunderlands Markets 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 financial statements.

The Hutchinson Partnership Limited

trading as The Hutchinson Partnership

Chartered Accountants

The Bull Pen

Grove Farm

Portway, Burghill

Hereford

HR4 8NF

24 September 2026

FIXED ASSETS

Investments

5

986,080

720,000

CURRENT ASSETS

Debtors

6

2,203,637

1,867,162

Cash at bank and in hand

108,959

350

2,312,596

1,867,512

CREDITORS

Amounts falling due within one year

7

59,394

636,100

NET CURRENT ASSETS

2,253,202

1,231,412

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

3,239,282

1,951,412

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

3,239,282

1,951,412

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

3,239,282

1,951,412

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 December 2025.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 24 September 2026 and were signed by:

MJ Nicholls - Designated member

1.	STATUTORY INFORMATION

Sunderlands Markets 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.	LONGER PRIOR ACCOUNTING PERIOD

The LLP's prior accounting period was from 21 September 2023 to 31 December 2024 and the current accounting period is for the year to 31 December 2025. The comparatives are therefore not directly comparable.

3.	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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Sunderlands Markets LLP as an individual LLP and do not contain consolidated financial information as the parent of a group. The LLP has taken the option under Section 398 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 not to prepare consolidated financial statements.

Turnover

Turnover represents commission and management charges, stated net of discounts, rebates, value added tax and other sales taxes.

The company recognises revenue when the significant risks and rewards of ownership have passed to the buyer, when the amount of revenue can be measured reliably, when it is probable that the economic benefits associated with the transaction will flow to the entity and when the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from services is recognised in the accounting periods in which the services are rendered.

Revenue from commission is therefore recognised in the period in which the sale takes place and revenue from management charges is recognised in the period in which the management services are provided.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost, less any impairment.

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.

EMPLOYEES

The average number of employees during the year was NIL (2024 - 2 ).

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2025

720,000

Original cost updated

266,080

At 31 December 2025

986,080

NET BOOK VALUE

At 31 December 2025

986,080

At 31 December 2024

720,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Trade debtors

836,603

1,053,412

Loans to subsidiary companies

1,364,847

810,000

Prepayments

2,187

3,750

2,203,637

1,867,162

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Bank loans and overdrafts

-

490,221

Trade creditors

17,773

22,638

VAT

20,187

15,833

Other creditors

-

82,709

Accruals and deferred income

21,434

24,699

59,394

636,100

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

as restated

£

£

Within one year

40,721

25,783

9.	SECURED DEBTS

The bank overdraft is secured by a fixed and floating charge over all assets of the LLP.

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members (other than members' capital classified as debt) rank after other creditors on winding up.

11.	RELATED PARTY DISCLOSURES

The LLP received management charges of £956,000 (2024: £569,000) from one of its wholly owned subsidiaries. At the year end the subsidiary owed the LLP £1,004,847 (2024: £569,000) which is included within other debtors in the accounts. The LLP also recharged the subsidiary for casual labour of £2,118 (2024: £NIL) and staff health insurance of £13,479 (2024: £4,978). Included within trade creditors is a balance of £274 (2024: £NIL) due to this subsidiary.

The LLP also received management charges of £360,000 (2024: £241,000) from another wholly owned subsidiary. At the year end the subsidiary owed the LLP £360,000 (2024: £241,000) which is also included within other debtors in the accounts.

During the year, the LLP paid for casual labour of £961 (2024: £544) from a partnership with common members. Included within trade creditors is a balance of £119 (2024: £NIL) due to this partnership.

During the year, the LLP paid management charges of £12,144 (2024: £9,108) to an LLP with common members. The LLP also charged management charges of £30,390 to this LLP. At the year end, within trade debtors, there is a balance of £28,440 owed from this LLP and included within trade creditors is a balance of £1,916 owed to this LLP.