J R Farming LLP Filleted Accounts Cover |
Registered No. OC385189 | |||||||||
J R Farming LLP Balance Sheet Registrar |
at | ||||||||||
Registered No. | Notes | 2023 | 2022 | |||||||
£ | £ | |||||||||
Fixed assets | ||||||||||
Tangible assets | 4 | 87,971 | 100,514 | |||||||
87,971 | 100,514 | |||||||||
Current assets | ||||||||||
Stocks | 5 | 58,920 | 62,940 | |||||||
Debtors | 6 | 10,415 | 858 | |||||||
Cash at bank and in hand | 213 | 213 | ||||||||
69,548 | 64,011 | |||||||||
Creditors: Amounts falling due within one year | 7 | (168,344) | (147,477) | |||||||
Net current liabilities | (98,796) | (83,466) | ||||||||
Total assets less current liabilities | (10,825) | 17,048 | ||||||||
Creditors: Amounts falling due after more than one year | 8 | (272,372) | (278,837) | |||||||
Net liabilities attributable to members | (283,197) | (261,789) | ||||||||
Represented by: | ||||||||||
Loans and other debts due to members | 100,000 | 100,000 | ||||||||
Members' other interests | ||||||||||
Other reserves | (383,197) | (361,789) | ||||||||
(383,197) | (361,789) | |||||||||
(283,197) | (261,789) | |||||||||
As permitted by section 444 (5A)of the Companies Act 2006 the members have not delivered to the Registrar a copy of the LLP's profit and loss account. | ||||||||||
Approved by the members on 30 October 2023 | ||||||||||
And signed on its behalf by designated member: | ||||||||||
J. Rea | L. Rea | |||||||||
Designated member | Designated member | |||||||||
J R Farming LLP Notes to the Accounts Registrar |
for the year ended 31 March 2023 | ||||||||||||||||
1 | General information | |||||||||||||||
Its registered number is: OC385189 | ||||||||||||||||
Its registered office is: | ||||||||||||||||
2 | Accounting policies |
Turnover | ||||||||||||||||
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when all the following conditions are satisfied: • the LLP has transferred to the buyer the significant risks and rewards of ownership of the goods; • the LLP retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; • the amount of revenue can be measured reliably; • it is probable that the economic benefits associated with the transaction will flow to the LLP; and • the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed. | ||||||||||||||||
Members' remuneration and division of profits | ||||||||||||||||
Profits are treated as being available for discretionary division only if the the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Once agreement has been reached to divide the profits, a members' share in the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses remain included within 'other reserves'. | ||||||||||||||||
Tangible fixed assets and depreciation | ||||||||||||||||
At each balance sheet date, the LLP reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. | ||||||||||||||||
Leasehold land and buildings | ||||||||||||||||
Plant and machinery | ||||||||||||||||
Stocks | ||||||||||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs. | ||||||||||||||||
Trade and other debtors | ||||||||||||||||
Trade and other creditors | ||||||||||||||||
Members' Interests | ||||||||||||||||
Members' interests are classified as either equity or debt. Equity interests comprise any capital introduced classified as equity, any unallocated profits, any revaluation reserve and any other reserves. Loans and other debts due to members comprise any capital introduced but classified as a liability, any loans from members, amounts due to members in respect of allocated profits less drawings and any other amounts that the LLP is contractually obliged to repay to members. | ||||||||||||||||
Leased assets | ||||||||||||||||
Taxation | ||||||||||||||||
3 | Employees | |||||||||||||||
2023 | 2022 | |||||||||||||||
Number | Number | |||||||||||||||
The average number of persons employed during the year was: | ||||||||||||||||
4 | Tangible fixed assets | |||||||||||||||
Land and buildings | Plant and machinery | Total | ||||||||||||||
£ | £ | £ | ||||||||||||||
Cost | ||||||||||||||||
At 1 April 2022 | ||||||||||||||||
Additions | ||||||||||||||||
At 31 March 2023 | ||||||||||||||||
Depreciation | ||||||||||||||||
At 1 April 2022 | ||||||||||||||||
Charge for the year | ||||||||||||||||
At 31 March 2023 | ||||||||||||||||
Net book values | ||||||||||||||||
At 31 March 2023 | ||||||||||||||||
At 31 March 2022 | ||||||||||||||||
5 | Stocks | |||||||||||||||
2023 | 2022 | |||||||||||||||
£ | £ | |||||||||||||||
Work in progress | ||||||||||||||||
Finished goods | ||||||||||||||||
6 | Debtors | |||||||||||||||
2023 | 2022 | |||||||||||||||
£ | £ | |||||||||||||||
Trade debtors | ||||||||||||||||
VAT recoverable | ||||||||||||||||
7 | Creditors: | |||||||||||||||
amounts falling due within one year | ||||||||||||||||
2023 | 2022 | |||||||||||||||
£ | £ | |||||||||||||||
Bank loans and overdrafts | ||||||||||||||||
Other loans | ||||||||||||||||
Obligations under finance lease and hire purchase contracts | ||||||||||||||||
Trade creditors | ||||||||||||||||
Other creditors | ||||||||||||||||
Accruals and deferred income | ||||||||||||||||
8 | Creditors: | |||||||||||||||
amounts falling due after more than one year | ||||||||||||||||
2023 | 2022 | |||||||||||||||
£ | £ | |||||||||||||||
Bank loans and overdrafts | ||||||||||||||||
Liabilities repayable in more than five years after the balance sheet date | ||||||||||||||||
Amount repayable by instalments | 204,210 | 210,550 | ||||||||||||||
9 | Creditors: borrowings | |||||||||||||||
2023 | 2022 | |||||||||||||||
£ | £ | |||||||||||||||
The aggregate amount of secured liabilities included within creditors falling due within and after one year | ||||||||||||||||
10 | Loans and other debts due to members | |||||||||||||||
2023 | 2022 | |||||||||||||||
£ | £ | |||||||||||||||
Members' capital classified as a liability | 100,000 | 100,000 | ||||||||||||||
100,000 | 100,000 | |||||||||||||||
Amounts falling due within one year | 100,000 | - | ||||||||||||||
100,000 | 100,000 | |||||||||||||||