REGISTERED NUMBER: SO308077 (Scotland)

Unaudited Financial Statements

for the Period 24th October 2024 to 31st December 2025

for

Almagill Farming Partners LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Farming Partners Holdings LLP

Grow It (Scotland) Limited

T.C. Beattie & Co. Limited

REGISTERED OFFICE:

Farries, Kirk and McVean

Tinwald Downs Road

Heathhall

Dumfries

DG1 3SJ

REGISTERED NUMBER:

SO308077 (Scotland)

ACCOUNTANTS:

Farries Kirk & McVean

Dumfries Enterprise Park

Heathhall

Dumfries

DUMFRIESSHIRE

DG1 3SJ

FIXED ASSETS

Intangible assets

4

22,031

Tangible assets

5

4,540,733

4,562,764

CURRENT ASSETS

Stocks

680,050

Debtors

6

77,208

Cash at bank

31,956

789,214

CREDITORS

Amounts falling due within one year

7

(1,398,141

)

NET CURRENT LIABILITIES

(608,927

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,953,837

CREDITORS

Amounts falling due after more than one year

8

(3,000,000

)

NET ASSETS ATTRIBUTABLE TO MEMBERS

953,837

LOANS AND OTHER DEBTS DUE TO MEMBERS

953,837

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

953,837

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 period ended 31st 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 Income Statement has not been delivered.

The financial statements were approved by Brendan Muldowney. the members of the LLP and authorised for issue on 30th October 2026 and were signed by:

Grow It (Scotland) Limited - Designated member

1.	STATUTORY INFORMATION

Almagill Farming Partners LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General Information page.

2.	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

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Entitlements are being amortised evenly over their estimated useful life of nil years.

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery etc

-

20% on reducing balance and 15% on reducing balance

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

Stocks

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

Financial instruments

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 debtors

Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price and represent the full value of the services charged to customers.

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 company 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.

Borrowings

Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Provisions and contingencies

Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3.	EMPLOYEE INFORMATION

The average number of employees during the period was 2 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

22,031

At 31st December 2025

22,031

NET BOOK VALUE

At 31st December 2025

22,031

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

Additions

3,339,490

1,244,581

4,584,071

Disposals

(24,980

)

-

(24,980

)

At 31st December 2025

3,314,510

1,244,581

4,559,091

DEPRECIATION

Charge for period

-

18,358

18,358

At 31st December 2025

-

18,358

18,358

NET BOOK VALUE

At 31st December 2025

3,314,510

1,226,223

4,540,733

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

77,208

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

671,141

Other creditors

727,000

1,398,141

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

3,000,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

3,000,000

All and whole the whole subjects known as and forming the farm and lands of Almagill and upper Dormont, near Dormont, Lockerbie, DG11 1DZ. A floating charge over all assets and undertaking.