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Registration number: OC347346

A & G Farms LLP

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

A & G Farms LLP

(Registration number: OC347346)
Balance Sheet as at 30 June 2023

Note

2023
 £

2022
 £

Fixed assets

 

Tangible assets

3

90,241

68,373

Current assets

 

Debtors

88,471

68,328

Cash at bank and in hand

 

32,355

76,285

 

120,826

144,613

Creditors: Amounts falling due within one year

5

(187,489)

(189,542)

Net current liabilities

 

(66,663)

(44,929)

Net assets attributable to members

 

23,578

23,444

Represented by:

 

Total members' interests

 

Loans and other debts due to members

 

23,578

23,444

   

23,578

23,444

 

A & G Farms LLP

(Registration number: OC347346)
Balance Sheet as at 30 June 2023

For the year ending 30 June 2023 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

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

The financial statements of A & G Farms LLP (registered number OC347346) were approved by the Board and authorised for issue on 2 February 2024. They were signed on behalf of the limited liability partnership by:

.........................................
A J d'Angibau
Designated member

 

A & G Farms LLP

Notes to the Financial Statements for the Year Ended 30 June 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Members' remuneration and 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. Members' profits are otherwise automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

 

A & G Farms LLP

Notes to the Financial Statements for the Year Ended 30 June 2023

Depreciation

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:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Computer equipment

33% straight line

Motor vehicles

25% reducing balance

Solar panels

4% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 0 (2022 - 0).

 

A & G Farms LLP

Notes to the Financial Statements for the Year Ended 30 June 2023

3

Tangible fixed assets

Plant and machinery
£

Motor vehicles
£

Computer equipment
£

Total
£

Cost

At 1 July 2022

89,865

68,625

561

159,051

Additions

-

36,349

-

36,349

Disposals

-

(38,625)

-

(38,625)

At 30 June 2023

89,865

66,349

561

156,775

Depreciation

At 1 July 2022

39,670

50,447

561

90,678

Charge for the year

3,595

7,825

-

11,420

Eliminated on disposals

-

(35,564)

-

(35,564)

At 30 June 2023

43,265

22,708

561

66,534

Net book value

At 30 June 2023

46,600

43,641

-

90,241

At 30 June 2022

50,195

18,178

-

68,373

4

Debtors

2023
 £

2022
 £

Prepayments and accrued income

88,471

68,328

88,471

68,328

5

Creditors: Amounts falling due within one year

2023
 £

2022
 £

Trade creditors

30

-

Taxation and social security

4,473

7,346

Amounts owed to group undertakings and undertakings in which the LLP has a participating interest

182,186

181,146

Accruals and deferred income

800

1,050

187,489

189,542