IRIS Accounts Production v23.3.0.418 OC365149 designated member 1.4.22 31.3.23 31.3.23 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC3651492022-03-31OC3651492023-03-31OC3651492022-04-012023-03-31OC3651492021-03-31OC3651492021-04-012022-03-31OC3651492022-03-31OC365149ns10:Originalns15:EnglandWales2022-04-012023-03-31OC365149ns14:PoundSterlingns10:Original2022-04-012023-03-31OC365149ns10:Originalns10:Director12022-04-012023-03-31OC365149ns10:Original2022-04-012023-03-31OC365149ns10:Original2023-03-31OC365149ns10:Originalns10:LimitedLiabilityPartnershipLLP2022-04-012023-03-31OC365149ns10:Originalns10:SmallEntities2022-04-012023-03-31OC365149ns10:Originalns10:AuditExemptWithAccountantsReport2022-04-012023-03-31OC365149ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-31OC365149ns10:LimitedLiabilityPartnershipsSORPns10:Original2022-04-012023-03-31OC365149ns10:Originalns10:FullAccounts2022-04-012023-03-31OC365149ns10:Original2021-04-012022-03-31OC365149ns10:Originalns10:RegisteredOffice2022-04-012023-03-31OC365149ns10:Original2022-03-31OC365149ns10:Originalns5:CurrentFinancialInstruments2023-03-31OC365149ns10:Originalns5:CurrentFinancialInstruments2022-03-31OC365149ns10:Originalns5:Non-currentFinancialInstruments2023-03-31OC365149ns10:Originalns5:Non-currentFinancialInstruments2022-03-31OC365149ns10:Originalns5:RevaluationReserve2023-03-31OC365149ns10:Originalns5:RevaluationReserve2022-03-31OC365149ns10:Original2022-03-31OC365149ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31OC365149ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-31OC365149ns10:Originalns5:RevaluationReserve2022-03-31OC365149ns10:Originalns5:RevaluationReserve2022-04-012023-03-31OC365149ns10:Originalns5:SharePremium2023-03-31
REGISTERED NUMBER: OC365149 (England and Wales)








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: Mr D Warriner-Brown
Firecrest Estates Ltd





REGISTERED OFFICE: 41 Rodney Road
Cheltenham
Gloucestershire
GL50 1HX





REGISTERED NUMBER: OC365149 (England and Wales)





ACCOUNTANTS: Mitchell Glanville Limited
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 5,750,000 6,250,000

CURRENT ASSETS
Debtors 5 26,942 6,250
Cash at bank 374,721 622,048
401,663 628,298
CREDITORS
Amounts falling due within one year 6 146,389 128,306
NET CURRENT ASSETS 255,274 499,992
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,005,274

6,749,992

CREDITORS
Amounts falling due after more than one year 7 2,000,000 2,000,000
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 2,979,739 3,479,739
4,005,274 4,749,992

TOTAL MEMBERS' INTERESTS
Members' other interests 4,005,274 4,749,992

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 2023.

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


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 October 2023 and were signed by:





Mr D Warriner-Brown - Designated member

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
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.

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 6,250,000
Revaluations (500,000 )
At 31 March 2023 5,750,000
NET BOOK VALUE
At 31 March 2023 5,750,000
At 31 March 2022 6,250,000

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 17,190 6,250
Other debtors 9,752 -
26,942 6,250

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 49,503 49,503
Accruals and deferred income 80,248 66,284
146,389 128,306

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 8) 2,000,000 2,000,000

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 3,479,739
Revaluation (500,000 )
At 31 March 2023 2,979,739

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.






Mitchell Glanville Limited
41 Rodney Road
Cheltenham
Gloucestershire
GL50 1HX


23 October 2023