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REGISTERED NUMBER: OC341028 (England and Wales)















Report of the Members and

Unaudited Financial Statements for the Year Ended 30 June 2023

for

Five Chimneys Business Park LLP

Previously known as
Five Chimneys Eggs LLP

Five Chimneys Business Park LLP (Registered number: OC341028)
previously known as Five Chimneys Eggs LLP






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

General Information 1

Report of the Members 2

Chartered Accountants' Report 3

Income Statement 4

Balance Sheet 5

Notes to the Financial Statements 7


Five Chimneys Business Park LLP
previously known as Five Chimneys Eggs LLP

General Information
for the Year Ended 30 June 2023







DESIGNATED MEMBERS: Mrs N J Osborn
Mr M L Osborn





REGISTERED OFFICE: Five Chimneys Farm
Curtains Hill
Hadlow Down
Uckfield
East Sussex
TN22 4DU





REGISTERED NUMBER: OC341028 (England and Wales)





ACCOUNTANTS: Swindells LLP
Chartered Accountants
Atlantic House
8 Bell Lane
Bellbrook Industrial Estate
Uckfield
East Sussex
TN22 1QL

Five Chimneys Business Park LLP (Registered number: OC341028)
previously known as Five Chimneys Eggs LLP

Report of the Members
for the Year Ended 30 June 2023

The members present their report with the financial statements of the LLP for the year ended 30 June 2023.

CHANGE OF NAME
The LLP passed a special resolution on 3 April 2023 changing its name from Five Chimneys Eggs LLP to Five Chimneys Business Park LLP.

PRINCIPAL ACTIVITIES
The principal activities of the LLP in the year under review were that of egg farming and the construction and operation of a business park for commercial rental units.

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

Mrs N J Osborn
Mr M L Osborn

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The loss for the year before members' remuneration and profit shares was £73,431 (2022 - £433,133 profit).

MEMBERS' INTERESTS
The allocation of profits to members occurs periodically during the year.

Profits are allocated on a basis set out in the members' agreement. The level and timing of cash drawings in respect of fixed and residual profits is determined by management, taking into account the cash requirements of the partnership for operating and investing activities. Any drawings in excess of allocated profits during the year are recoverable from the members.

The capital requirement of the partnership is determined by management. Each member subscribes capital, which represents the total capital of the partnership and no interest is payable on this capital.

Joining members must subscribe capital on the basis set out in the members' agreement, according to the needs of the partnership.

Retiring members' capital share is returned to the retiring member unless other arrangements are agreed.

ON BEHALF OF THE MEMBERS:





Mrs N J Osborn - Designated member


8 March 2024

Chartered Accountants' Report to the Members
on the Unaudited Financial Statements of
Five Chimneys Business Park 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 Five Chimneys Business Park LLP for the year ended 30 June 2023 which comprise the Income Statement, Balance Sheet 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 Five Chimneys Business Park 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 Five Chimneys Business Park LLP and state those matters that we have agreed to state to the members of Five Chimneys Business Park 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 Five Chimneys Business Park LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Five Chimneys Business Park 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 Five Chimneys Business Park LLP. You consider that Five Chimneys Business Park 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 Five Chimneys Business Park 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.






Swindells LLP
Chartered Accountants
Atlantic House
8 Bell Lane
Bellbrook Industrial Estate
Uckfield
East Sussex
TN22 1QL


11 March 2024

Five Chimneys Business Park LLP (Registered number: OC341028)
previously known as Five Chimneys Eggs LLP

Income Statement
for the Year Ended 30 June 2023

2023 2022
Notes £    £   

TURNOVER 120,484 1,025,650

Cost of sales 82,318 537,644
GROSS PROFIT 38,166 488,006

Administrative expenses 131,181 203,978
(93,015 ) 284,028

Other operating income 55,999 51,407
OPERATING (LOSS)/PROFIT 4 (37,016 ) 335,435

Interest receivable and similar income 1 -
(37,015 ) 335,435
Gain/loss on revaluation of investment
property

-

120,000
(37,015 ) 455,435

Interest payable and similar expenses 36,416 22,302
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR BEFORE MEMBERS'
REMUNERATION AND PROFIT SHARES
AVAILABLE FOR DISCRETIONARY
DIVISION AMONG MEMBERS




(73,431




)




433,133

Five Chimneys Business Park LLP (Registered number: OC341028)
previously known as Five Chimneys Eggs LLP

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 202,030 767,207
Investment property 6 1,288,069 720,000
1,490,099 1,487,207

CURRENT ASSETS
Debtors 7 289,048 313,104
Cash at bank and in hand 45,914 169,838
334,962 482,942
CREDITORS
Amounts falling due within one year 8 481,220 441,947
NET CURRENT (LIABILITIES)/ASSETS (146,258 ) 40,995
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,343,841

1,528,202

CREDITORS
Amounts falling due after more than
one year

9

632,967

741,052
NET ASSETS ATTRIBUTABLE TO
MEMBERS

710,874

787,150

Five Chimneys Business Park LLP (Registered number: OC341028)
previously known as Five Chimneys Eggs LLP

Balance Sheet - continued
30 June 2023

2023 2022
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

11

269,440

345,716

MEMBERS' OTHER INTERESTS
Fair value reserve 12 441,434 441,434
710,874 787,150

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 11 269,440 345,716
Members' other interests 441,434 441,434
710,874 787,150

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 30 June 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 8 March 2024 and were signed by:





Mrs N J Osborn - Designated member

Five Chimneys Business Park LLP (Registered number: OC341028)
previously known as Five Chimneys Eggs LLP

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

1. STATUTORY INFORMATION

Five Chimneys Business Park LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover is recognised to the extent it is probable that economic benefit will flow to the partnership and that it can be reliably measured. Turnover is measured at the fair value of consideration received or receivable, net of discounts, rebates, VAT and other sales taxes.

Turnover from the sale of goods is recognised upon dispatch or collection of the goods by the customer.

Turnover from amounts chargeable in respect of rental income is recognised when it is receivable and in the period to which it relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance, 5% on reducing balance and 5% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Pension costs and other post-retirement benefits
The partnership contributes to employees' pension schemes. Contributions payable are charged to the income statement in the period to which they relate.

Members
A member's share of the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses are included within 'other reserves'.

Five Chimneys Business Park LLP (Registered number: OC341028)
previously known as Five Chimneys Eggs LLP

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

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2022 - 3 ).

4. OPERATING (LOSS)/PROFIT

The operating loss (2022 - operating profit) is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 26,425 70,164

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2022 50,906 1,366,328 8,040
Additions - 39,997 2,476
Disposals - (367,105 ) (8,040 )
Reclassification/transfer - (746,131 ) -
At 30 June 2023 50,906 293,089 2,476
DEPRECIATION
At 1 July 2022 8,400 650,582 7,382
Charge for year 1,019 22,714 619
Eliminated on disposal - (88,613 ) (7,382 )
Reclassification/transfer - (444,056 ) -
At 30 June 2023 9,419 140,627 619
NET BOOK VALUE
At 30 June 2023 41,487 152,462 1,857
At 30 June 2022 42,506 715,746 658

Five Chimneys Business Park LLP (Registered number: OC341028)
previously known as Five Chimneys Eggs LLP

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

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022 102,685 595 1,528,554
Additions - - 42,473
Disposals - (595 ) (375,740 )
Reclassification/transfer - - (746,131 )
At 30 June 2023 102,685 - 449,156
DEPRECIATION
At 1 July 2022 94,388 595 761,347
Charge for year 2,073 - 26,425
Eliminated on disposal - (595 ) (96,590 )
Reclassification/transfer - - (444,056 )
At 30 June 2023 96,461 - 247,126
NET BOOK VALUE
At 30 June 2023 6,224 - 202,030
At 30 June 2022 8,297 - 767,207

At the balance sheet date the partnership owned assets under hire purchase contracts with net book value of £31,252 (2022 - £8,056).

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 720,000
Additions 265,994
Reclassification/transfer 302,075
At 30 June 2023 1,288,069
NET BOOK VALUE
At 30 June 2023 1,288,069
At 30 June 2022 720,000

Five Chimneys Business Park LLP (Registered number: OC341028)
previously known as Five Chimneys Eggs LLP

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

6. INVESTMENT PROPERTY - continued

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2018 321,434
Valuation in 2022 120,000
Cost 846,635
1,288,069

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 846,635 278,566

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 8,079 34,226
Other debtors 280,969 278,878
289,048 313,104

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 128,133 120,640
Hire purchase contracts 9,426 3,824
Trade creditors 31,405 8,516
Taxation and social security - 381
Other creditors 312,256 308,586
481,220 441,947

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 614,327 739,082
Hire purchase contracts 18,640 1,970
632,967 741,052

Five Chimneys Business Park LLP (Registered number: OC341028)
previously known as Five Chimneys Eggs LLP

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans 251,927 316,365

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 28,066 5,794
Bank loans 709,257 816,832
737,323 822,626

Bank borrowings are secured by way of a debenture over land owned by the partners. The partners have also given a personal guarantee limited to £100,000.

Hire purchase lending is secured against the assets concerned.

11. 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.

Any reduction in members' other interests are subject to approval by management.

12. RESERVES
Fair
value
reserve
£   
At 1 July 2022
and 30 June 2023 441,434

13. RELATED PARTY DISCLOSURES

At the balance sheet date an LLP under common control owed Five Chimneys Business Park LLP £262,752 (2022 - £262,752). This balance is unsecured, interest free and repayable on demand.

At the balance sheet date Five Chimneys Business Park LLP owed a company under common control £300,000 (2022 - £300,000). This balance is unsecured, interest free and repayable on demand.