Registered number
OC404678
Manor Farm Yearsley LLP
Filleted Accounts
31 March 2023
Manor Farm Yearsley LLP
Registered number: OC404678
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 625,690 583,122
Current assets
Debtors 4 - 120
Cash at bank and in hand 1,450 32,696
1,450 32,816
Creditors: amounts falling due within one year 5 (1,428) (1,428)
Net current assets 22 31,388
Total assets less current liabilities 625,712 614,510
Creditors: amounts falling due after more than one year 6 (120,000) (120,000)
Net assets attributable to members 505,712 494,510
Represented by:
Loans and other debts due to members 7 607,224 572,384
Members' other interests
Members' capital classified as equity 10,000 10,000
Other reserves (111,512) (87,874)
(101,512) (77,874)
505,712 494,510
Total members' interests
Loans and other debts due to members 7 607,224 572,384
Members' other interests (101,512) (77,874)
505,712 494,510
For the year ended 31 March 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 7 November 2023 and signed on their behalf by:
Roger B Ellingham Designated member
Manor Farm Yearsley LLP
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Division of profits
Profits are treated as being available for discretionary division only if 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.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Buildings and Building Works are not depreciated
Motor vehicles are depreciated over 4 years
Plant and machinery over 4 years
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2023 2022
Number Number
Average number of persons employed by the LLP 0 0
3 Tangible fixed assets
Buildings and Building works Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 568,803 57,816 26,380 652,999
Additions 54,877 2,400 - 57,277
At 31 March 2023 623,680 60,216 26,380 710,276
Depreciation
At 1 April 2022 - 43,497 26,380 69,877
Charge for the year - 14,709 - 14,709
At 31 March 2023 - 58,206 26,380 84,586
Net book value
At 31 March 2023 623,680 2,010 - 625,690
At 31 March 2022 568,803 14,319 - 583,122
4 Debtors 2023 2022
£ £
Trade debtors - 120
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,428 1,428
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 120,000 120,000
7 Loans and other debts due to members 2023 2022
£ £
Loans from members 607,224 572,384
Amounts falling due within one year 607,224 572,384
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
8 Other information
Manor Farm Yearsley LLP is a limited liability partnership incorporated in England. Its registered office is:
Manor Farm
Yearsley
Brandsby
York
YO61 4SL
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