SO304437falsepotato merchant2022-07-012023-06-30http://www.companieshouse.gov.uk/2022-06-30http://www.companieshouse.gov.uk/cd:Director12022-07-012023-06-30http://www.companieshouse.gov.uk/cd:Director22022-07-012023-06-30http://www.companieshouse.gov.uk/cd:LimitedLiabilityPartnershipLLP2022-07-012023-06-30http://www.companieshouse.gov.uk/pt:ToolsEquipment2022-06-30http://www.companieshouse.gov.uk/pt:ToolsEquipment2023-06-30http://www.companieshouse.gov.uk/cd:RegisteredOffice2022-07-012023-06-30http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2022-07-012023-06-30http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2023-06-30http://www.companieshouse.gov.uk/2021-07-012022-06-30http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2022-06-30http://www.companieshouse.gov.uk/2022-07-012023-06-30http://www.companieshouse.gov.uk/2022-06-30http://www.companieshouse.gov.uk/cd:FRS1022022-07-012023-06-30http://www.companieshouse.gov.uk/2023-06-30http://www.companieshouse.gov.uk/cd:FullAccounts2022-07-012023-06-30iso4217:GBPxbrli:sharesxbrli:pure
Registered number: SO304437

Thrums Produce LLP

ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2023

Prepared By:
Robert Kemp
4 Cuthill Towers
Milnathort
Kinross
KY13 9SE

Thrums Produce LLP

ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2023
DESIGNATED MEMBERS
W D Mitchell
J Milne
REGISTERED OFFICE
Viewfield House
Slade Road
Kirriemuir
Angus
DD8 5HN
COMPANY NUMBER
SO304437
BANKERS
Royal Bank of Scotland
ACCOUNTANT
Robert Kemp
4 Cuthill Towers
Milnathort
Kinross
KY13 9SE

Thrums Produce LLP

CONTENTS
Page
Report of the Members3
Report of the Accountant4
Profit and Loss Account5
Balance Sheet6
Notes to the Accounts7
The following do not form part of the statutory financial statements:
Trading and Profit and Loss Account11
Profit and Loss Account Summaries12
Capital Accounts-
Current Accounts12

Thrums Produce LLP

MEMBERS' REPORT
FOR THE YEAR ENDED 30 JUNE 2023
The members present their report and accounts for the year ended 30 June 2023
PRINCIPAL ACTIVITIES
The principal activity of the LLP in the year under review was potato merchant .
DESIGNATED MEMBERS
The designated members who served during the year were as follows:
W D Mitchell
J Milne
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £(1,988) (2022 £(5,116)).
DRAWINGS POLICY
The LLP operates a drawings policy which has regard to a cautious estimate of expected profits. Drawings are restricted to prudent levels, taking into account working capital performance, until the results for the year and individual members' allocations have been determined.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 as modified by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs.
This report was approved on behalf of the members on 26 July 2023
J Milne
Designated member

Thrums Produce LLP

ACCOUNTANTS' REPORT TO THE MEMBERS ON THE UNAUDITED ACCOUNTS
OF THRUMS PRODUCE LLP, FOR THE YEAR ENDED 30 JUNE 2023
In order to assist you to fulfill your duties under the Companies Act 2006 as applied to LLP's, I have prepared for your approval the accounts of Thrums Produce LLP for the year ended 30 June 2023 as set out on pages 5 to 10 from the entity's accounting records and from information and explanations you have given me.
This report is made solely to the members of Thrums Produce LLP, as a body, in accordance with the terms of my engagement. My work has been undertaken solely to prepare for your approval the accounts of Thrums Produce LLP and state those matters that I have agreed to state to the Board of Directors of Thrums Produce LLP, as a body, in this report, in accordance with the requirements of the as detailed on their website. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Thrums Produce LLP and its Board of Directors as a body for my work or for this report.
It is your duty to ensure that Thrums Produce LLP has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profitability of Thrums Produce LLP. You consider that Thrums Produce LLP is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out a review of the accounts of Thrums Produce LLP. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory accounts.
Robert Kemp
4 Cuthill Towers
Milnathort
Kinross
KY13 9SE
28 July 2023

Thrums Produce LLP

PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED30 JUNE 2023
Notes20232022
££
TURNOVER338,40236,158
Cost of sales(32,028)(33,606)
GROSS PROFIT6,3742,552
Administrative expenses4(8,362)(7,668)
OPERATING LOSS(1,988)(5,116)
LOSS FOR THE FINANCIALYEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS(1,988)(5,116)

Thrums Produce LLP

BALANCE SHEET AT 30 June 2023
20232022
Notes££
FIXED ASSETS
Tangible assets6166221
CURRENT ASSETS
Debtors782703
Cash at bank and in hand4,1484,267
4,2304,970
CREDITORS: Amounts falling due within one year89004,909
NET CURRENT ASSETS3,33061
NET ASSETS ATTRIBUTABLE TO MEMBERS3,496282
LOANS AND OTHER DEBTS DUE TO MEMBERS103,496282
MEMBERS ' OTHER INTERESTS
3,496282
TOTAL MEMBERS' INTERESTS
Loans and other debts due to members103,496282
Amounts due from members7-(566)
3,496(284)
For the year ending 30 June 2023 the LLP was entitled to exemption under section 477 of the Companies Act 2006 as modified by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts as modified 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime modified by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs.
Approved by the members on 26 July 2023 and signed on their behalf by
.............................
W D Mitchell
Designated Member

Thrums Produce LLP

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2023
1. ACCOUNTING POLICIES
1b. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.
1b. Basis Of Accounting
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.
1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Equipmentreducing balance 25%
1d. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.
2. INFORMATION IN RELATION TO MEMBERS 20232022
The average number of members during the year was22

Thrums Produce LLP

3. TURNOVER
The turnover and pre-tax result is attributable to potato merchant.
20232022
££
Potato sales38,40236,158
38,40236,158
4. OTHER OPERATING EXPENSES 20232022
££
Selling and marketing costs271434
Administrative expenses8,0367,161
Costs relating to the purchase, use, and disposal of assets5573
8,3627,668
5. OPERATING PROFIT
20232022
££
Operating Profit is stated after charging:
Depreciation5573
5573
6. TANGIBLE FIXED ASSETS
EquipmentTotal
££
Cost
At 1 July 20221,5181,518
At 30 June 20231,5181,518
Depreciation
At 1 July 20221,2971,297
For the year5555
At 30 June 20231,3521,352
Net Book Amounts
At 30 June 2023166166
At 30 June 2022221221

Thrums Produce LLP

7. DEBTORS 20232022
££
Amounts falling due within one year:
VAT82137
Amounts due from members-566
82703
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
Trade creditors-4,409
Other creditors900500
9004,909
9. EMPLOYEES
20232022
No.No.
Average number of employees22
10. LOANS AND OTHER DEBTS DUE TO MEMBERS 20232022
££
Amounts due to members3,496282
The loans and debts due to members rank equally with debts due to ordinary creditors in a winding up.

Thrums Produce LLP

11. MEMBERS INTERESTS
Members' capital (classified as equity)ReservesTotalLoans and other debts due to/(from) membersTotal
£££££
Amount due to members282
Amount due from members(566)
Balance at 1 July 2022---(284)(284)
Profit for the financial year available for discretionary division among members(1,988)(1,988)-(1,988)
Members' interests after profit for the year-(1,988)(1,988)(284)(2,272)
Other divisions of profit1,9881,988(1,988)
Capital Introduced5,7685,768
Amount due to members3,496
Balance at 30 June 2023---3,4963,496

Thrums Produce LLP

TRADING AND PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2023
20232022
££
Turnover38,40236,158
Cost of Sales:
Purchases32,02833,606
32,02833,606
32,02833,606
Gross Profit6,3742,552
6,3742,552
Less:
Distribution costs271434
Administrative expenses8,0917,234
8,3627,668
Net loss for the year before taxation(1,988)(5,116)
Net loss for the year after taxation(1,988)(5,116)
Retained losses carried forward(1,988)(5,116)
This page does not form part of the Company's Statutory Accounts and is prepared for the information of the Directors only.

Thrums Produce LLP

PROFIT AND LOSS ACCOUNT SUMMARIES
FOR THE YEAR ENDED 30 JUNE 2023
20232022
££
Cost of sales - purchases:
Potato purchases31,67529,769
Haulage3533,837
32,02833,606
Distribution Costs:
Business entertaining271434
271434
Administrative Expenses:
Heat and light363363
Motor expenses4,2804,490
Accountancy fees900200
Postage-17
Stationery & office supplies2445
Telephone 1,7821,624
Computer costs613392
Bank charges7430
Depreciation and Amortisation:
Depreciation of equipment5573
8,0917,234
This page does not form part of the Company's Statutory Accounts and is prepared for the information of the Directors only.
12. MEMBERS' CURRENT ACCOUNTS
W D MitchellJ MilneTotal
£££
At 1 July 2022282(566)(284)
Introductions2,8342,9345,768
3,1162,3685,484
Share of loss9949941,988
At 30 June 20232,1221,3743,496