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Company No: OC433510 (England and Wales)

ENYS FARMS PARTNERSHIP LLP

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

ENYS FARMS PARTNERSHIP LLP

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

ENYS FARMS PARTNERSHIP LLP

BALANCE SHEET

As at 31 March 2024
ENYS FARMS PARTNERSHIP LLP

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Investment property 2,088,788 2,088,788
2,088,788 2,088,788
Current assets
Debtors 4 5,357 3,012
Cash at bank and in hand 5 101,742 89,992
107,099 93,004
Creditors: amounts falling due within one year 6 ( 12,015) ( 6,169)
Net current assets 95,084 86,835
Total assets less current liabilities 2,183,872 2,175,623
Net assets attributable to members 2,183,872 2,175,623
Represented by
Loans and other debts due to members within one year
Other amounts 94,722 86,473
94,722 86,473
Members' other interests
Members' capital classified as equity 2,089,150 2,089,150
2,089,150 2,089,150
2,183,872 2,175,623
Total members' interests
Loans and other debts due to members 94,722 86,473
Members' other interests 2,089,150 2,089,150
2,183,872 2,175,623

For the financial year ending 31 March 2024 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 Enys Farms Partnership LLP (registered number: OC433510) were approved and authorised for issue by the Board of Directors on 04 October 2024. They were signed on its behalf by:

A W Fowler
Designated member
Professor L C G Rogers
Designated member
ENYS FARMS PARTNERSHIP LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
ENYS FARMS PARTNERSHIP LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
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

Enys Farms Partnership 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 Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, Somerset, United Kingdom.

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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rent of property and is shown net of VAT and other sales related taxes.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the members, on an open market value for existing use basis.

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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the LLP during the year 0 0

3. Members' remuneration

Profits are shared among the members in accordance with agreed profit sharing arrangements. The average number of members includes both the designated and non-designated members.

2024 2023
Number Number
Average number of members during the financial year 6 6

4. Debtors

2024 2023
£ £
Trade debtors 1,604 643
Other debtors 3,753 2,369
5,357 3,012

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 101,742 89,992

6. Creditors: amounts falling due within one year

2024 2023
£ £
Other taxation and social security 0 500
Other creditors 12,015 5,669
12,015 6,169