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REGISTERED NUMBER: OC422241 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 July 2023

for

42 Farming LLP

42 Farming LLP (Registered number: OC422241)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


42 Farming LLP

General Information
for the Year Ended 31 July 2023







DESIGNATED MEMBERS: W G J Gowlett
Mrs R C Gowlett





REGISTERED OFFICE: Farm Office, Manor Farm
Bull Lane
Broughton
Huntingdon
Cambridgeshire
PE28 3AP





REGISTERED NUMBER: OC422241 (England and Wales)





ACCOUNTANTS: NSO Associates LLP
75 Springfield Road
Chelmsford
Essex
CM2 6JB

42 Farming LLP (Registered number: OC422241)

Balance Sheet
31 July 2023

31.7.22 31.7.23
£    £    Notes £    £   
FIXED ASSETS
2,428,609 Tangible assets 4 2,454,391

CURRENT ASSETS
91,823 Debtors 5 102,854
70,981 Cash at bank 26,226
162,804 129,080
CREDITORS
16,278 Amounts falling due within one year 6 6,724
146,526 NET CURRENT ASSETS 122,356
2,575,135 TOTAL ASSETS LESS CURRENT
LIABILITIES

2,576,747

CREDITORS
1,400,000 Amounts falling due after more than one
year

7

1,400,000
1,175,135 NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,176,747

61,207 LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

62,819

MEMBERS' OTHER INTERESTS
1,113,928 Capital accounts 1,113,928
1,175,135 1,176,747

TOTAL MEMBERS' INTERESTS
61,207 Loans and other debts due to members 8 62,819
1,113,928 Members' other interests 1,113,928
1,175,135 1,176,747

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 July 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.

42 Farming LLP (Registered number: OC422241)

Balance Sheet - continued
31 July 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.

The financial statements were approved by the members of the LLP and authorised for issue on 22 March 2024 and were signed by:





W G J Gowlett - Designated member

42 Farming LLP (Registered number: OC422241)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

42 Farming 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 as modified by the revaluation of certain assets.

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.
Plant and machinery etc - 25% on cost

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
Totals buildings etc
£    £    £   
COST OR VALUATION
At 1 August 2022 2,433,873 2,425,001 8,872
Additions 27,625 27,625 -
At 31 July 2023 2,461,498 2,452,626 8,872
DEPRECIATION
At 1 August 2022 5,264 - 5,264
Charge for year 1,843 - 1,843
At 31 July 2023 7,107 - 7,107
NET BOOK VALUE
At 31 July 2023 2,454,391 2,452,626 1,765
At 31 July 2022 2,428,609 2,425,001 3,608

42 Farming LLP (Registered number: OC422241)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 July 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2019 2,425,001 3,000 2,428,001
Cost 27,625 5,872 33,497
2,452,626 8,872 2,461,498

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 19,798 10,173
Other debtors 83,056 81,650
102,854 91,823

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 906 10,920
Other creditors 5,818 5,358
6,724 16,278

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 1,400,000 1,400,000

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank after other creditors in the event of the winding up of the LLP.