IRIS Accounts Production v23.3.1.45 OC352744 designated member 1.4.22 31.3.23 31.3.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC3527442022-03-31OC3527442023-03-31OC3527442022-04-012023-03-31OC3527442021-03-31OC3527442021-04-012022-03-31OC3527442022-03-31OC352744ns10:Originalns15:EnglandWales2022-04-012023-03-31OC352744ns14:PoundSterlingns10:Original2022-04-012023-03-31OC352744ns10:Originalns10:Director12022-04-012023-03-31OC352744ns10:Original2022-04-012023-03-31OC352744ns10:Original2023-03-31OC352744ns10:Originalns10:LimitedLiabilityPartnershipLLP2022-04-012023-03-31OC352744ns10:Originalns10:SmallEntities2022-04-012023-03-31OC352744ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-31OC352744ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-31OC352744ns10:LimitedLiabilityPartnershipsSORPns10:Original2022-04-012023-03-31OC352744ns10:Originalns10:FullAccounts2022-04-012023-03-31OC352744ns10:Original12022-04-012023-03-31OC352744ns10:Originalns10:Director22022-04-012023-03-31OC352744ns10:Originalns10:Director32022-04-012023-03-31OC352744ns10:Originalns10:RegisteredOffice2022-04-012023-03-31OC352744ns10:Original2022-03-31OC352744ns10:Originalns5:CurrentFinancialInstruments2023-03-31OC352744ns10:Originalns5:CurrentFinancialInstruments2022-03-31OC352744ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-04-012023-03-31OC352744ns10:Originalns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-04-012023-03-31OC352744ns10:Originalns5:PlantMachinery2022-04-012023-03-31OC352744ns10:Originalns5:MotorVehicles2022-04-012023-03-31OC352744ns10:Original2021-04-012022-03-31OC352744ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-03-31OC352744ns5:IntangibleAssetsOtherThanGoodwillns10:Original2023-03-31OC352744ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-03-31OC352744ns10:Originalns5:LandBuildings2022-03-31OC352744ns10:Originalns5:LeaseholdImprovements2022-03-31OC352744ns10:Originalns5:PlantMachinery2022-03-31OC352744ns10:Originalns5:MotorVehicles2022-03-31OC352744ns10:Original2022-03-31OC352744ns10:Originalns5:LandBuildings2022-04-012023-03-31OC352744ns10:Originalns5:LeaseholdImprovements2022-04-012023-03-31OC352744ns10:Originalns5:LandBuildings2023-03-31OC352744ns10:Originalns5:LeaseholdImprovements2023-03-31OC352744ns10:Originalns5:PlantMachinery2023-03-31OC352744ns10:Originalns5:MotorVehicles2023-03-31OC352744ns10:Originalns5:LandBuildings2022-03-31OC352744ns10:Originalns5:LeaseholdImprovements2022-03-31OC352744ns10:Originalns5:PlantMachinery2022-03-31OC352744ns10:Originalns5:MotorVehicles2022-03-31OC352744ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31OC352744ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-31
REGISTERED NUMBER: OC352744 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

FOR

COBHAM FARMS LLP

COBHAM FARMS LLP (REGISTERED NUMBER: OC352744)

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










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 5


COBHAM FARMS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DESIGNATED MEMBERS: Mrs C J Boileau
J A Trafford
Lady Cobham



REGISTERED OFFICE: 25 St Thomas Street
Winchester
Hampshire
SO23 9HJ



REGISTERED NUMBER: OC352744 (England and Wales)



ACCOUNTANTS: Martin and Company
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ



BANKERS: Coutts and Company
440 Strand
London
WC2R 0QS



SOLICITORS: Charles Russell Speechlys LLP
5 Fleet Place
London
EC4M 7RD

COBHAM FARMS LLP (REGISTERED NUMBER: OC352744)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 16,940 15,690
Tangible assets 5 41,211,491 34,744,558
41,228,431 34,760,248

CURRENT ASSETS
Stocks 728,196 542,156
Debtors 6 702,358 423,971
Cash at bank 142,167 330,919
1,572,721 1,297,046
CREDITORS
Amounts falling due within one year 7 319,131 464,248
NET CURRENT ASSETS 1,253,590 832,798
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

42,482,021

35,593,046

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

1,200,346

791,147

MEMBERS' OTHER INTERESTS
Capital accounts 41,281,675 34,801,899
42,482,021 35,593,046

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 1,200,346 791,147
Members' other interests 41,281,675 34,801,899
42,482,021 35,593,046

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 31st 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.

COBHAM FARMS LLP (REGISTERED NUMBER: OC352744)

BALANCE SHEET - continued
31ST MARCH 2023


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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

COBHAM FARMS LLP (REGISTERED NUMBER: OC352744)

BALANCE SHEET - continued
31ST MARCH 2023



The financial statements were approved by the members of the LLP and authorised for issue on 1st February 2024 and were signed by:





Lady Cobham - Designated member

COBHAM FARMS LLP (REGISTERED NUMBER: OC352744)

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


1. STATUTORY INFORMATION

Cobham Farms 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Basic payment scheme entitlements are being amortised evenly over their estimated useful life of seven years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

The value of freehold buildings is not separately identified from land on the LLP's in-hand farming properties as this is not considered to provide any additional value to the members. No depreciation is therefore provided in respect of these buildings.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 4 (2022 - 3 ) .

COBHAM FARMS LLP (REGISTERED NUMBER: OC352744)

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


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st April 2022 102,340
Additions 4,388
At 31st March 2023 106,728
AMORTISATION
At 1st April 2022 86,650
Charge for year 3,138
At 31st March 2023 89,788
NET BOOK VALUE
At 31st March 2023 16,940
At 31st March 2022 15,690

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and Motor
property property machinery vehicles Totals
£    £    £    £    £   
COST
At 1st April 2022 27,710,193 6,989,066 196,070 31,450 34,926,779
Additions 5,519,111 956,550 1,408 - 6,477,069
At 31st March 2023 33,229,304 7,945,616 197,478 31,450 41,403,848
DEPRECIATION
At 1st April 2022 - 17,087 136,621 28,513 182,221
Charge for year - - 9,402 734 10,136
At 31st March 2023 - 17,087 146,023 29,247 192,357
NET BOOK VALUE
At 31st March 2023 33,229,304 7,928,529 51,455 2,203 41,211,491
At 31st March 2022 27,710,193 6,971,979 59,449 2,937 34,744,558

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 545,432 149,207
VAT 83,038 66,425
Prepayments and accrued income 73,888 208,339
702,358 423,971

COBHAM FARMS LLP (REGISTERED NUMBER: OC352744)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 168,044 264,770
Social security and other taxes 3,347 4,447
Accruals and deferred income 147,740 195,031
319,131 464,248

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to ordinary creditors on winding up.