Silverfin false 31/12/2023 01/01/2023 31/12/2023 Lorna Anne Jones 09/04/2014 Lynne Jones 09/04/2014 REPi Limited 09/04/2014 R T Hadwin on behalf of REPI Limited 01 October 2024 OC392567 2023-12-31 OC392567 bus:Director1 2023-12-31 OC392567 bus:Director2 2023-12-31 OC392567 bus:Director3 2023-12-31 OC392567 2022-12-31 OC392567 core:CurrentFinancialInstruments 2023-12-31 OC392567 core:CurrentFinancialInstruments 2022-12-31 OC392567 core:LeaseholdImprovements 2022-12-31 OC392567 core:LeaseholdImprovements 2023-12-31 OC392567 2023-01-01 2023-12-31 OC392567 bus:FullAccounts 2023-01-01 2023-12-31 OC392567 bus:SmallEntities 2023-01-01 2023-12-31 OC392567 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 OC392567 bus:LimitedLiabilityPartnershipLLP 2023-01-01 2023-12-31 OC392567 bus:Director1 2023-01-01 2023-12-31 OC392567 bus:Director2 2023-01-01 2023-12-31 OC392567 bus:Director3 2023-01-01 2023-12-31 OC392567 bus:Director4 2023-01-01 2023-12-31 OC392567 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Company No: OC392567 (England and Wales)

FFORCH-ISAF FARM WIND POWER LLP

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

FFORCH-ISAF FARM WIND POWER LLP

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

FFORCH-ISAF FARM WIND POWER LLP

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
FFORCH-ISAF FARM WIND POWER LLP

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 669,496 669,496
669,496 669,496
Current assets
Debtors 4 157,772 334,002
Cash at bank and in hand 304 1,169
158,076 335,171
Creditors: amounts falling due within one year 5 ( 4,020) ( 1,800)
Net current assets 154,056 333,371
Total assets less current liabilities 823,552 1,002,867
Net assets attributable to members 823,552 1,002,867
Represented by
Loans and other debts due to members within one year
Other amounts 6 154,056 333,371
154,056 333,371
Members' other interests
Members' capital classified as equity 669,496 669,496
669,496 669,496
823,552 1,002,867
Total members' interests
Loans and other debts due to members 154,056 333,371
Members' other interests 669,496 669,496
823,552 1,002,867

For the financial year ending 31 December 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

The financial statements of Fforch-Isaf Farm Wind Power LLP (registered number: OC392567) were approved and authorised for issue by the Board of Directors on 01 October 2024. They were signed on its behalf by:

R T Hadwin on behalf of REPI Limited
Designated Member
FFORCH-ISAF FARM WIND POWER LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
FFORCH-ISAF FARM WIND POWER LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Fforch-Isaf Farm Wind Power LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Stratton House Back Lane, Stoney Stratton, Evercreech, BA4 6EA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The members have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Leasehold improvements not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The LLP as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the LLP during the year 2 2

3. Tangible assets

Leasehold improve-
ments
Total
£ £
Cost
At 01 January 2023 669,496 669,496
At 31 December 2023 669,496 669,496
Accumulated depreciation
At 01 January 2023 0 0
At 31 December 2023 0 0
Net book value
At 31 December 2023 669,496 669,496
At 31 December 2022 669,496 669,496

4. Debtors

2023 2022
£ £
Accrued income 157,772 334,002

5. Creditors: amounts falling due within one year

2023 2022
£ £
Accruals 4,020 1,800

6. Loans and other debts due to members

2023 2022
£ £
Other amounts due to members 154,056 333,371

Loans and other debts due to members may be further analysed as follows:

2023 2022
£ £
Falling due within one year 154,056 333,371

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of winding up.