REGISTERED NUMBER: SO302282 (Scotland)

COWIESBURN ASSET MANAGEMENT LLP

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

D Mitchell

M Nieszporek

D A Simpson

REGISTERED OFFICE:

22 Walker Street

Edinburgh

EH3 7HR

REGISTERED NUMBER:

SO302282 (Scotland)

ACCOUNTANTS:

Benham Conway & Co

16 Royal Crescent

Glasgow

G3 7SL

FIXED ASSETS

Intangible assets

4

-

404

Tangible assets

5

4,386

19,913

4,386

20,317

CURRENT ASSETS

Debtors

6

191,592

171,453

Cash at bank

281,070

244,534

472,662

415,987

CREDITORS

Amounts falling due within one year

7

284,291

370,874

NET CURRENT ASSETS

188,371

45,113

TOTAL ASSETS LESS CURRENT LIABILITIES

192,757

65,430

CREDITORS

Amounts falling due after more than one year

8

-

4,167

NET ASSETS ATTRIBUTABLE TO MEMBERS

192,757

61,263

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

192,757

61,263

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

192,757

61,263

Amounts due from members

6

-

(8,998

)

192,757

52,265

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 13 October 2026 and were signed by:

D A Simpson - Designated member

1.	STATUTORY INFORMATION

Cowiesburn Asset Management 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 represents the amounts recoverable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time.

If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the balance sheet date are carried forward as work in progress.

Goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

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.

Plant and machinery etc

-

25% on cost

Financial instruments

Basic financial instruments, including trade and other payables, bank and other loans are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method.

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.

Leases

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

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 26 (2025 - 26 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2025

and 31 March 2026

4,040

AMORTISATION

At 1 April 2025

3,636

Charge for year

404

At 31 March 2026

4,040

NET BOOK VALUE

At 31 March 2026

-

At 31 March 2025

404

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2025

47,367

Additions

1,195

Disposals

(18,743

)

At 31 March 2026

29,819

DEPRECIATION

At 1 April 2025

27,454

Charge for year

2,771

Eliminated on disposal

(4,792

)

At 31 March 2026

25,433

NET BOOK VALUE

At 31 March 2026

4,386

At 31 March 2025

19,913

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

163,948

131,320

Other debtors

27,644

40,133

191,592

171,453

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans and overdrafts

4,167

10,000

Trade creditors

32,809

41,138

Taxation and social security

80,494

77,751

Other creditors

166,821

241,985

284,291

370,874

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans

-

4,167

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

10.	OTHER FINANCIAL COMMITMENTS

At 31 March 2026 the company was committed to making total payments under non-cancellable operating leases of £113,875 (2025, £146,542).