Throwcombe Park LLP OC414516 false 2022-12-01 2024-03-31 2024-03-31 The principal activity of the company is Deer Farm. Digita Accounts Production Advanced 6.30.9574.0 OC414516 2022-12-01 2024-03-31 OC414516 2024-03-31 OC414516 core:OtherReservesSubtotal 2024-03-31 OC414516 core:CurrentFinancialInstruments 2024-03-31 OC414516 core:WithinOneYear 2024-03-31 OC414516 core:FurnitureFittings 2024-03-31 OC414516 core:MotorVehicles 2024-03-31 OC414516 bus:SmallEntities 2022-12-01 2024-03-31 OC414516 bus:AuditExemptWithAccountantsReport 2022-12-01 2024-03-31 OC414516 bus:FullAccounts 2022-12-01 2024-03-31 OC414516 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2024-03-31 OC414516 bus:RegisteredOffice 2022-12-01 2024-03-31 OC414516 bus:PartnerLLP1 2022-12-01 2024-03-31 OC414516 bus:PartnerLLP2 2022-12-01 2024-03-31 OC414516 bus:LimitedLiabilityPartnershipLLP 2022-12-01 2024-03-31 OC414516 bus:Agent1 2022-12-01 2024-03-31 OC414516 core:FurnitureFittings 2022-12-01 2024-03-31 OC414516 core:MotorVehicles 2022-12-01 2024-03-31 OC414516 core:Vehicles 2022-12-01 2024-03-31 OC414516 countries:AllCountries 2022-12-01 2024-03-31 OC414516 2022-11-30 OC414516 core:FurnitureFittings 2022-11-30 OC414516 core:MotorVehicles 2022-11-30 OC414516 2021-12-01 2022-11-30 OC414516 2022-11-30 OC414516 core:OtherReservesSubtotal 2022-11-30 OC414516 core:CurrentFinancialInstruments 2022-11-30 OC414516 core:WithinOneYear 2022-11-30 OC414516 core:FurnitureFittings 2022-11-30 OC414516 core:MotorVehicles 2022-11-30 iso4217:GBP xbrli:pure

Registration number: OC414516

Throwcombe Park LLP

Annual Report and Unaudited Financial Statements

for the period from 1 December 2022 to 31 March 2024

 

Throwcombe Park LLP

Contents

Limited liability partnership information

1

Accountants' Report

2

Financial Statements

3 to 8

Balance Sheet

3

Notes to the Financial Statements

5

 

Throwcombe Park LLP

Limited liability partnership information

Designated members

Mr Charles Fussell

Members

Mrs Helen Hathorn

Registered office

Throwcombe Park LLP
Stoodleigh
Tiverton
Devon
EX16 9QQ

Accountants

MG Group (Professional Services) Ltd
Chartered Accountants
166 College Road
Harrow
Middlesex
HA1 1BH

 

Chartered Accountants' Report to the Members on the Preparation of the Unaudited Statutory Accounts of
Throwcombe Park LLP
for the Period Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, as applied to limited liability partnerships, we have prepared for your approval the accounts of Throwcombe Park LLP for the period ended 31 March 2024 set out on pages 3 to 8 from the limited liability partnership'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 at
http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the members of Throwcombe Park LLP, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Throwcombe Park LLP and state those matters that we have agreed to state to the members of Throwcombe Park LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Throwcombe Park LLP and its members as a body for our work or for this report.

It is your duty to ensure that Throwcombe Park 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 loss of Throwcombe Park LLP. You consider that Throwcombe Park LLP is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Throwcombe 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 accounts.

......................................

MG Group (Professional Services) Ltd
Chartered Accountants
166 College Road
Harrow
Middlesex
HA1 1BH

30 August 2024

 

Throwcombe Park LLP

(Registration number: OC414516)
Balance Sheet as at 31 March 2024

Note

2024
£

2022
£

Fixed assets

 

Tangible assets

3

3,875

167

Current assets

 

Stocks

4

49,797

48,697

Debtors

5

943

687

Cash and short-term deposits

 

1,509

7,080

 

52,249

56,464

Creditors: Amounts falling due within one year

6

(116)

(162)

Net current assets

 

52,133

56,302

Net assets attributable to members

 

56,008

56,469

Represented by:

 

Members’ other interests

 

Members' capital classified as equity

 

103,066

65,641

Other reserves

 

(47,058)

(9,172)

 

56,008

56,469

   

56,008

56,469

Total members' interests

 

Equity

 

56,008

56,469

   

56,008

56,469

For the year ending 31 March 2024 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’.

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.

 

Throwcombe Park LLP

(Registration number: OC414516)
Balance Sheet as at 31 March 2024

The financial statements of Throwcombe Park LLP (registered number OC414516) were approved by the Board and authorised for issue on 30 August 2024. They were signed on behalf of the limited liability partnership by:

.........................................
Mr Charles Fussell
Designated member

 

Throwcombe Park LLP

Notes to the Financial Statements for the Period from 1 December 2022 to 31 March 2024

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 & Wales 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.

The functional currency of Throwcombe Park LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

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

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

 

Throwcombe Park LLP

Notes to the Financial Statements for the Period from 1 December 2022 to 31 March 2024

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.

Tangible fixed assets

Individual fixed assets costing £0.00 or more are initially recorded at cost.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Furniture and fittings

25% straight line basis

Motor vehciles

25% straight line basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

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.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

Pensions and other post retirement obligations

The partnership operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

 

Throwcombe Park LLP

Notes to the Financial Statements for the Period from 1 December 2022 to 31 March 2024

Current versus non-current classification

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

In the limited liability partnership balance sheet, investments in subsidiaries and associates are measured at cost less impairment.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the period was 1 (2022 - 1).

3

Tangible fixed assets

Fixtures and fittings
 £

Motor vehicles
 £

Total
£

Cost

At 1 December 2022

1,144

-

1,144

Additions

-

4,650

4,650

At 31 March 2024

1,144

4,650

5,794

Depreciation

At 1 December 2022

977

-

977

Charge for the year

167

775

942

At 31 March 2024

1,144

775

1,919

Net book value

At 31 March 2024

-

3,875

3,875

At 30 November 2022

167

-

167

4

Stocks

2024
£

2022
£

Stocks

49,797

48,697

 

Throwcombe Park LLP

Notes to the Financial Statements for the Period from 1 December 2022 to 31 March 2024

5

Debtors

31 March 2024
 £

30 November 2022
 £

Other debtors

943

687

6

Creditors: Amounts falling due within one year

2024
£

2022
£

Other creditors

54

-

Taxation and social security

62

162

116

162