Notley Farming LLP Filleted Accounts Cover |
Registered No. OC421371 | |||||||||
Notley Farming LLP Balance Sheet Registrar |
at | ||||||||||
Registered No. | Notes | 2024 | 2023 | |||||||
£ | £ | |||||||||
Fixed assets | ||||||||||
Tangible assets | 5 | 373,996 | 422,746 | |||||||
373,996 | 422,746 | |||||||||
Current assets | ||||||||||
Debtors | 6 | 2,098 | 18,794 | |||||||
Cash at bank and in hand | 27,843 | 5,299 | ||||||||
29,941 | 24,093 | |||||||||
Creditors: Amounts falling due within one year | 7 | (73,322) | (56,491) | |||||||
Net current liabilities | (43,381) | (32,398) | ||||||||
Total assets less current liabilities | 330,615 | 390,348 | ||||||||
Creditors: Amounts falling due after more than one year | 8 | - | (41,344) | |||||||
Net assets attributable to members | 330,615 | 349,004 | ||||||||
Represented by: | ||||||||||
Loans and other debts due to members | 307,015 | 325,404 | ||||||||
Members' other interests | ||||||||||
Members' capital | 23,600 | 23,600 | ||||||||
23,600 | 23,600 | |||||||||
330,615 | 349,004 | |||||||||
As permitted by section 444 (5A)of the Companies Act 2006 the members have not delivered to the Registrar a copy of the company's profit and loss account. | ||||||||||
Approved by the members on 18 September 2024 and signed on its behalf by: | ||||||||||
L. Humphreys | N. Cousins | |||||||||
Designated member | Designated member | |||||||||
Notley Farming LLP Notes to the Accounts Registrar |
for the year ended 31 March 2024 | ||||||||||||||||
1 | General information | |||||||||||||||
Notley Farming LLP is a limited liability partnership and incorporated in England and Wales. | ||||||||||||||||
Its registered number is: OC421371 | ||||||||||||||||
Its registered office is: | ||||||||||||||||
2 | Accounting policies |
Turnover | ||||||||||||||||
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances. | ||||||||||||||||
Members' remuneration and division of profits | ||||||||||||||||
The LLP agreement provides that fixed amounts, determined for each member each year, be paid to members, irrespective of the profits of the LLP. These amounts are included within members' remuneration charged as an expense. Profits are treated as being available for discretionary division only if the the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Once agreement has been reached to divide the profits, a members' share in the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses remain included within 'other reserves'. | ||||||||||||||||
Tangible fixed assets and depreciation | ||||||||||||||||
At each balance sheet date, the LLP reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. | ||||||||||||||||
Plant and machinery | ||||||||||||||||
Trade and other debtors | ||||||||||||||||
Trade and other creditors | ||||||||||||||||
Members' Interests | ||||||||||||||||
Members' interests are classified as either equity or debt. Equity interests comprise any capital introduced classified as equity, any unallocated profits, any revaluation reserve and any other reserves. Loans and other debts due to members comprise any capital introduced but classified as a liability, any loans from members, amounts due to members in respect of allocated profits less drawings and any other amounts that the LLP is contractually obliged to repay to members. | ||||||||||||||||
Leased assets | ||||||||||||||||
Assets held under finance leases are initially recognised as assets of the LLP at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the LLP's policy on borrowing costs (see the accounting policy above). Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis. | ||||||||||||||||
Taxation | ||||||||||||||||
Defined contribution pensions | ||||||||||||||||
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. | ||||||||||||||||
3 | Information in relation to members | |||||||||||||||
2024 | 2023 | |||||||||||||||
Number | Number | |||||||||||||||
The average number of members during the year : | 4 | 4 | ||||||||||||||
2024 | 2023 | |||||||||||||||
£ | £ | |||||||||||||||
Automatic division of profits | (3,123) | 6,174 | ||||||||||||||
(3,123) | 6,174 | |||||||||||||||
4 | Employees | |||||||||||||||
2024 | 2023 | |||||||||||||||
Number | Number | |||||||||||||||
The average number of persons employed during the year was: | ||||||||||||||||
5 | Tangible fixed assets | |||||||||||||||
Plant and machinery | Total | |||||||||||||||
£ | £ | |||||||||||||||
Cost | ||||||||||||||||
At 1 April 2023 | ||||||||||||||||
Additions | ||||||||||||||||
At 31 March 2024 | ||||||||||||||||
Depreciation | ||||||||||||||||
At 1 April 2023 | ||||||||||||||||
Charge for the year | ||||||||||||||||
At 31 March 2024 | ||||||||||||||||
Net book values | ||||||||||||||||
At 31 March 2024 | ||||||||||||||||
At 31 March 2023 | ||||||||||||||||
6 | Debtors | |||||||||||||||
2024 | 2023 | |||||||||||||||
£ | £ | |||||||||||||||
Trade debtors | ||||||||||||||||
7 | Creditors: | |||||||||||||||
amounts falling due within one year | ||||||||||||||||
2024 | 2023 | |||||||||||||||
£ | £ | |||||||||||||||
Bank loans and overdrafts | ||||||||||||||||
Obligations under finance lease and hire purchase contracts | ||||||||||||||||
Trade creditors | ||||||||||||||||
Other taxes and social security | ||||||||||||||||
Accruals and deferred income | ||||||||||||||||
8 | Creditors: | |||||||||||||||
amounts falling due after more than one year | ||||||||||||||||
2024 | 2023 | |||||||||||||||
£ | £ | |||||||||||||||
Obligations under finance lease and hire purchase contracts | ||||||||||||||||
9 | Loans and other debts due to members | |||||||||||||||
2024 | 2023 | |||||||||||||||
£ | £ | |||||||||||||||
Members' capital classified as a liability | 310,138 | 319,230 | ||||||||||||||
Amounts due to members in respect of profits | (3,123) | 6,174 | ||||||||||||||
307,015 | 325,404 | |||||||||||||||
Amounts falling due within one year | 307,015 | - | ||||||||||||||
307,015 | 325,404 | |||||||||||||||