REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
PARADISE VALLEY FARMS LLP |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
PARADISE VALLEY FARMS LLP |
PARADISE VALLEY FARMS LLP (REGISTERED NUMBER: OC365149) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 March 2023 |
Page |
General information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 4 |
Chartered accountants' report | 6 |
PARADISE VALLEY FARMS LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31 March 2023 |
DESIGNATED MEMBERS: |
Firecrest Estates Ltd |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
41 Rodney Road |
Cheltenham |
Gloucestershire |
GL50 1HX |
PARADISE VALLEY FARMS LLP (REGISTERED NUMBER: OC365149) |
BALANCE SHEET |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
4,005,274 |
4,749,992 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
- |
- |
MEMBERS' OTHER INTERESTS |
Capital accounts | 1,025,535 | 1,270,253 |
Revaluation reserve | 9 |
4,005,274 | 4,749,992 |
TOTAL MEMBERS' INTERESTS |
Members' other interests | 4,005,274 | 4,749,992 |
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. |
PARADISE VALLEY FARMS LLP (REGISTERED NUMBER: OC365149) |
BALANCE SHEET - continued |
31 March 2023 |
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 |
PARADISE VALLEY FARMS LLP (REGISTERED NUMBER: OC365149) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 March 2023 |
1. | STATUTORY INFORMATION |
Paradise Valley Farms 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. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
INVESTMENT PROPERTY |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2022 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2022 |
Revaluations | (500,000 | ) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Investment property comprises £5,750,000. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 March 2023 by the members of the LLP. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. |
Fair value at 31 March 2023 is represented by: |
£ |
Valuation in 2023 | 5,750,000 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
PARADISE VALLEY FARMS LLP (REGISTERED NUMBER: OC365149) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 March 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
VAT | 16,638 | 12,519 |
Other creditors |
Accruals and deferred income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans (see note 8) |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 2,000,000 | 2,000,000 |
8. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 2,000,000 | 2,000,000 |
9. | RESERVES |
Revaluation |
reserve |
£ |
At 1 April 2022 |
Revaluation | ( |
) |
At 31 March 2023 |
CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
PARADISE VALLEY FARMS LLP |
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 Income statement 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 Paradise Valley Farms LLP for the year ended 31 March 2023 which comprise the Income statement, 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 Paradise Valley Farms 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 Paradise Valley Farms LLP and state those matters that we have agreed to state to the members of Paradise Valley Farms 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 Paradise Valley Farms LLP and its members, as a body, for our work or for this report. |
It is your duty to ensure that Paradise Valley Farms 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 loss of Paradise Valley Farms LLP. You consider that Paradise Valley Farms 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 Paradise Valley Farms 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. |
41 Rodney Road |
Cheltenham |
Gloucestershire |
GL50 1HX |