Company No:
Contents
DESIGNATED MEMBERS | Mrs C I Arney |
Mr J A Arney |
REGISTERED OFFICE | Hitchcock House Hilltop Park |
Devizes Road | |
Salisbury | |
SP3 4UF | |
United Kingdom |
BUSINESS ADDRESS | Drove House |
Drove Lane | |
Old Alresford | |
Hampshire | |
SO24 9TB |
REGISTERED NUMBER | OC422891 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Hitchcock House | |
Hilltop Park | |
Devizes Road | |
Salisbury | |
Wiltshire SP3 4UF |
Note | 31.03.2024 | 30.06.2023 | ||
£ | £ | |||
Restated | ||||
Fixed assets | ||||
Tangible assets | 3 |
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2,422,428 | 2,428,384 | |||
Current assets | ||||
Debtors | 4 |
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5,326 | 4,730 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current (liabilities)/assets | (11,433) | 2,730 | ||
Total assets less current liabilities | 2,410,995 | 2,431,114 | ||
Net assets attributable to members |
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Represented by | ||||
Loans and other debts due to members after more than one year | ||||
Other amounts | 14,380 | 34,499 | ||
14,380 | 34,499 | |||
Members' other interests | ||||
Members' capital classified as equity | 2,396,615 | 2,396,615 | ||
2,396,615 | 2,396,615 | |||
2,410,995 | 2,431,114 | |||
Total members' interests | ||||
Loans and other debts due to members | 14,380 | 34,499 | ||
Members' other interests | 2,396,615 | 2,396,615 | ||
2,410,995 | 2,431,114 |
Members' responsibilities:
The financial statements of Drove Farm LLP (registered number:
Mr J A Arney
Designated member |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.
Drove Farm 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 Hitchcock House Hilltop Park, Devizes Road, Salisbury, SP3 4UF, United Kingdom. The principal place of business is Drove House, Drove Lane, Old Alresford, Hampshire, SO24 9TB.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.
The accounts of the LLP are prepared for a 9 month period up to 31 March 2024 to align with the tax year.
The prior period has been restated to correct the classification of the members capital classified as a liability.
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.
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.
Land and buildings | not depreciated |
Plant and machinery |
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Fixtures and fittings |
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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.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
Equity instruments
Equity instruments issued by the LLP are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the LLP.
Period from 01.07.2023 to 31.03.2024 |
Year ended 30.06.2023 |
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Number | Number | ||
Monthly average number of persons employed by the LLP during the period |
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Land and buildings | Plant and machinery | Fixtures and fittings | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 July 2023 |
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At 31 March 2024 |
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Accumulated depreciation | |||||||
At 01 July 2023 |
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Charge for the financial period |
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At 31 March 2024 |
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Net book value | |||||||
At 31 March 2024 |
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At 30 June 2023 |
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31.03.2024 | 30.06.2023 | ||
£ | £ | ||
Prepayments |
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VAT recoverable |
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31.03.2024 | 30.06.2023 | ||
£ | £ | ||
Trade creditors |
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Accruals and deferred income |
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Other taxation and social security |
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