Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-04-01falseThe principal object of the LLP is farming. During the financial year, the LLP has sold it's land at Elsenham but it continues to farm family trust land at Stansted.22truetrue OC400870 2022-04-01 2023-03-31 OC400870 2021-04-01 2022-03-31 OC400870 2023-03-31 OC400870 2022-03-31 OC400870 c:PlantMachinery 2022-04-01 2023-03-31 OC400870 c:PlantMachinery 2023-03-31 OC400870 c:PlantMachinery 2022-03-31 OC400870 c:PlantMachinery c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC400870 c:CurrentFinancialInstruments 2023-03-31 OC400870 c:CurrentFinancialInstruments 2022-03-31 OC400870 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC400870 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC400870 d:FRS102 2022-04-01 2023-03-31 OC400870 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC400870 d:FullAccounts 2022-04-01 2023-03-31 OC400870 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC400870 2 2022-04-01 2023-03-31 OC400870 d:PartnerLLP1 2022-04-01 2023-03-31 OC400870 d:PartnerLLP6 2022-04-01 2023-03-31 OC400870 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC400870 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-03-31 OC400870 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC400870 c:FurtherSpecificReserve2ComponentTotalEquity 2022-03-31 OC400870 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC400870 c:FurtherSpecificReserve3ComponentTotalEquity 2022-03-31 iso4217:GBP xbrli:pure
Registered number: OC400870









MORTON FARMING LLP

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
MORTON FARMING LLP
REGISTERED NUMBER: OC400870

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
11
14

  
11
14

Current assets
  

Stocks
  
2,812
11,661

Debtors: amounts falling due within one year
 5 
16,262
52,077

Cash at bank and in hand
  
184,349
196,711

  
203,423
260,449

Creditors: Amounts Falling Due Within One Year
 6 
(9,112)
(10,250)

Net current assets
  
 
 
194,311
 
 
250,199

Total assets less current liabilities
  
194,322
250,213

  

Net assets
  
194,322
250,213


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 7 
-
55,842

  
-
55,842

Members' other interests
  

Members' capital classified as equity
  
14,000
14,000

Other reserves classified as equity
  
180,322
180,371

  
 
194,322
 
194,371

  
194,322
250,213


Total members' interests
  

Loans and other debts due to members
 7 
-
55,842

Members' other interests
  
194,322
194,371

  
194,322
250,213


Page 1

 
MORTON FARMING LLP
REGISTERED NUMBER: OC400870

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 20 November 2023.






Mr C R Morton
Mr M Morton
Designated member
Designated member

Page 2

 
MORTON FARMING LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Morton Farming LLP is a limited liability patnership incorporated in England within the United Kingdom. The address of the registered office is Parsonage Farm, Forest Hall Road, Stansted, Essex, CM24 8TY. The LLP is not part of a group.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the LLP has transferred the significant risks and rewards of ownership to the buyer;
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 LLP will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
MORTON FARMING LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of Comprehensive Income.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Interest income

Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.


3.


Employees

The average monthly number of persons (including members with contracts of employment) employed during the year was as follows:


        2023
        2022
            No.
            No.







Total
2
2

Page 4

 
MORTON FARMING LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 April 2022
69



At 31 March 2023

69



Depreciation


At 1 April 2022
55


Charge for the year on owned assets
3



At 31 March 2023

58



Net book value



At 31 March 2023
11



At 31 March 2022
14

Page 5

 
MORTON FARMING LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Other debtors
777
10,717

Prepayments and accrued income
15,485
41,360

16,262
52,077



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Accruals and deferred income
9,112
10,250

9,112
10,250



7.


Loans and other debts due to members


2023
2022
£
£



Other amounts due to members
-
55,842

-
55,842

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.




Page 6