REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 31ST MAY 2023 TO 31ST MARCH 2024 |
FOR |
WARLEY WISE FARM LLP |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 31ST MAY 2023 TO 31ST MARCH 2024 |
FOR |
WARLEY WISE FARM LLP |
WARLEY WISE FARM LLP (REGISTERED NUMBER: OC447587) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 31ST MAY 2023 TO 31ST MARCH 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
WARLEY WISE FARM LLP (REGISTERED NUMBER: OC447587) |
BALANCE SHEET |
31ST MARCH 2024 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 1,499,215 |
LOANS AND OTHER DEBTS DUE TO MEMBERS | 7 | 249,215 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 1,250,000 |
1,499,215 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 7 | 249,215 |
Members' other interests | 1,250,000 |
Amounts due from members | 5 | (53,585 | ) |
1,445,630 |
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. |
WARLEY WISE FARM LLP (REGISTERED NUMBER: OC447587) |
BALANCE SHEET - continued |
31ST MARCH 2024 |
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 |
WARLEY WISE FARM LLP (REGISTERED NUMBER: OC447587) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 31ST MAY 2023 TO 31ST MARCH 2024 |
1. | STATUTORY INFORMATION |
Warley Wise Farm LLP is registered in England and Wales. The LLP's registered number and registered office address are as below: |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
At the time of signing these accounts, having considered the economic climate, the directors expectations and intentions for the next 12 months, and the availability of working capital, the directors are of the opinion that the company will remain viable for the foreseeable future and accordingly these financial statements have been prepared on the going concern basis. |
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 on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value,of each asset on a systematic basis over its expected useful life as follows. |
Computer Equipment - 33% on cost |
Buildings are not depreciated until brought into use. |
Allocation of profits and drawings |
Profits are allocated between the members as agreed at the commencement of each financial year, after payment of interest on capital. During the year members receive monthly drawings , and , from time to time , additional profit distributions. Both the monthly drawings and the profit distributions are deducted from allocated profits. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was |
WARLEY WISE FARM LLP (REGISTERED NUMBER: OC447587) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31ST MAY 2023 TO 31ST MARCH 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
Additions |
At 31st March 2024 |
DEPRECIATION |
Charge for period |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Other creditors |
7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
£ |
Loans from members | 237,077 |
Amounts owed to members in respect of profits | 12,138 |
249,215 |
Falling due within one year | 249,215 |
In the event of winding up, amounts in 'Loans and other debts due to members' (other than members' capital classified as debt) would rank subject to the provisions of the Insolvency Act 1986 as amended by the Act and the Regulations. As to payment of preferential and other debts including advances), any surplus remaining shall be distributed among the Members rateably in the proportions in which they shared profits immediately prior to commencement of the winding up. |
For the purposes of section 74 of the insolvency Act 1986, no member is liable to contribute any amount to the assets of the LLP on liquidation. |
The borrower shall pay interest on the loan at the rate from time to time of the lower of: |
- 4%; or |
- 1% above the Bank of England base rate, as varied from time to time. |
8. | ULTIMATE CONTROLLING PARTY |
In the members' opinion , the partnership is controlled by the designated members. |