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REGISTERED NUMBER: OC447587 (England and Wales)










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 1,340,122

CURRENT ASSETS
Debtors 5 68,633
Cash at bank 92,749
161,382
CREDITORS
Amounts falling due within one year 6 2,289
NET CURRENT ASSETS 159,093
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 LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the period ended 31st March 2024.

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


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

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 17th September 2024 and were signed by:





Mr M R Drakard - Designated member

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: OC447587

Registered office: Greystones Clarence Drive
Menston
Ilkley
West Yorkshire
LS29 6AH

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

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 at the following annual rates in order to write off each asset over its estimated useful life.

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 4 .

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 1,339,738 573 1,340,311
At 31st March 2024 1,339,738 573 1,340,311
DEPRECIATION
Charge for period - 189 189
At 31st March 2024 - 189 189
NET BOOK VALUE
At 31st March 2024 1,339,738 384 1,340,122

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 68,633

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 839
Other creditors 1,450
2,289

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.