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REGISTERED NUMBER: OC384377 (England and Wales)















REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

FOX-PITT EVENTING LLP

FOX-PITT EVENTING LLP (REGISTERED NUMBER: OC384377)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

General Information 1

Report of the Members 2

Chartered Accountants' Report 3

Income Statement 4

Balance Sheet 5

Reconciliation of Members' Interests 6

Notes to the Financial Statements 8


FOX-PITT EVENTING LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DESIGNATED MEMBERS: W S L Fox-Pitt
Mrs A Fox-Pitt





REGISTERED OFFICE: Wood Lane Stables Wood Lane
Hinton St. Mary
Sturminster Newton
Dorset
DT10 1NB





REGISTERED NUMBER: OC384377 (England and Wales)





ACCOUNTANTS: William Hinton Limited
Chartered Accountants
Ross House
The Square
Stow On The Wold
Gloucestershire
GL54 1AF

FOX-PITT EVENTING LLP (REGISTERED NUMBER: OC384377)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2023


The members present their report with the financial statements of the LLP for the year ended 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of Eventing Services.

DESIGNATED MEMBERS
The designated members during the year under review were:

W S L Fox-Pitt
Mrs A Fox-Pitt

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The loss for the year before members' remuneration and profit shares was £25,090 (2022 - £60,459 loss).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:





W S L Fox-Pitt - Designated member


31 January 2024

CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
FOX-PITT EVENTING LLP



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 Fox-Pitt Eventing LLP for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet, Reconciliation of Members' Interests 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 Fox-Pitt Eventing 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 Fox-Pitt Eventing LLP and state those matters that we have agreed to state to the members of Fox-Pitt Eventing 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 Fox-Pitt Eventing LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Fox-Pitt Eventing 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 Fox-Pitt Eventing LLP. You consider that Fox-Pitt Eventing 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 Fox-Pitt Eventing 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.






William Hinton Limited
Chartered Accountants
Ross House
The Square
Stow On The Wold
Gloucestershire
GL54 1AF


Date: .............................................

FOX-PITT EVENTING LLP (REGISTERED NUMBER: OC384377)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023

2023 2022
Notes £    £   

TURNOVER 511,011 391,596

Cost of sales 184,513 128,195
GROSS PROFIT 326,498 263,401

Administrative expenses 351,588 303,727
OPERATING LOSS 4 (25,090 ) (40,326 )

Profit/Loss on sale of horses 5 - 20,133
LOSS FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND
PROFIT SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS




(25,090




)




(60,459




)

FOX-PITT EVENTING LLP (REGISTERED NUMBER: OC384377)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 1,258,166 1,253,245

CURRENT ASSETS
Debtors 7 103,989 137,203
Cash at bank 89,060 69,297
193,049 206,500
CREDITORS
Amounts falling due within one year 8 114,877 74,707
NET CURRENT ASSETS 78,172 131,793
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,336,338

1,385,038

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

1,336,338

1,385,038

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 1,336,338 1,385,038

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.

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

The financial statements were approved by the members of the LLP and authorised for issue on 31 January 2024 and were signed by:



W S L Fox-Pitt - Designated member

FOX-PITT EVENTING LLP (REGISTERED NUMBER: OC384377)

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2023


EQUITY DEBT TOTAL
Members' Loans and other debts due to MEMBERS'
other members less any amounts due INTERESTS
interests from members in debtors

Other Other
reserves amounts Total
£    £    £   
Amount due to members 1,362,535
Amount due from members -
Balance at 1 April 2022 - 1,362,535 1,362,535
Loss for the financial year
available for discretionary
division among members


(25,090


)


-


(25,090


)


Members' interests after loss for
the year

(25,090

)

1,362,535

1,337,445

Other divisions of loss 25,090 (25,090 ) -
Introduced by members - 20,000 20,000
Drawings on account and
distributions of profit

-

(21,107

)

(21,107

)

Amount due to members 1,336,338
Amount due from members -
Balance at 31 March 2023 - 1,336,338 1,336,338

FOX-PITT EVENTING LLP (REGISTERED NUMBER: OC384377)

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2023

EQUITY DEBT TOTAL
Members' Loans and other debts due to MEMBERS'
other members less any amounts due INTERESTS
interests from members in debtors

Other Other
reserves amounts Total
£    £    £   
Amount due to members 1,450,259
Amount due from members -
Balance at 1 April 2021 - 1,450,259 1,450,259
Loss for the financial year
available for discretionary
division among members


(60,459


)


-


(60,459


)


Members' interests after loss for
the year

(60,459

)

1,450,259

1,389,800

Other divisions of loss 60,459 (60,459 ) -
Introduced by members - 48,993 48,993
Drawings on account and
distributions of profit

-

(53,755

)

(53,755

)

Amount due to members 1,385,038
Amount due from members -
Balance at 31 March 2022 - 1,385,038 1,385,038

FOX-PITT EVENTING LLP (REGISTERED NUMBER: OC384377)

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


1. STATUTORY INFORMATION

Fox-Pitt Eventing 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% per annum on cost

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 7 (2022 - 6 ) .

4. OPERATING LOSS

The operating loss is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 8,557 5,187

FOX-PITT EVENTING LLP (REGISTERED NUMBER: OC384377)

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


5. EXCEPTIONAL ITEMS
2023 2022
£    £   
Profit/Loss on sale of horses - (20,133 )

6. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 1,218,630 119,676 1,338,306
Additions - 13,478 13,478
At 31 March 2023 1,218,630 133,154 1,351,784
DEPRECIATION
At 1 April 2022 - 85,061 85,061
Charge for year - 8,557 8,557
At 31 March 2023 - 93,618 93,618
NET BOOK VALUE
At 31 March 2023 1,218,630 39,536 1,258,166
At 31 March 2022 1,218,630 34,615 1,253,245

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 19,500
DEPRECIATION
At 1 April 2022
and 31 March 2023 19,500
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

FOX-PITT EVENTING LLP (REGISTERED NUMBER: OC384377)

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


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 53,989 68,745
Other debtors 50,000 68,458
103,989 137,203

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 117 -
Trade creditors 81,546 47,379
Taxation and social security 18,394 3,785
Other creditors 14,820 23,543
114,877 74,707

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

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

There is no provision for specific legally enforceable protection afforded to creditors in such an event.

There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' other interests'.