Church Farm (Sompting) LLP |
Registered number: |
OC392597 |
Balance Sheet |
as at 31 March 2024 |
Notes |
|
2024 |
|
2023 |
£ |
£ |
Fixed assets |
Investments |
3 |
|
- |
|
9,056 |
Current assets |
|
|
|
|
|
Stocks |
|
|
- |
|
26,992 |
Debtors |
4 |
|
- |
|
1,632 |
Cash at bank and in hand |
|
|
- |
|
4,934 |
|
|
|
- |
|
33,558 |
|
Creditors: amounts falling due within one year |
5 |
|
- |
|
(17,493) |
|
Net current assets |
|
|
- |
|
16,065 |
|
|
|
|
|
|
Total assets less current liabilities |
|
|
- |
|
25,121 |
|
|
Net assets attributable to members |
- |
|
25,121 |
|
|
|
|
|
|
Represented by: |
|
|
|
|
|
|
Members' other interests |
Members' capital classified as equity |
|
|
- |
|
300 |
Other reserves |
|
|
- |
|
24,821 |
|
|
|
- |
|
25,121 |
|
|
|
|
|
|
|
|
|
- |
|
25,121 |
|
|
|
|
|
|
Total members' interests |
Members' other interests |
|
|
- |
|
25,121 |
|
|
|
|
- |
|
25,121 |
|
|
|
|
|
|
For the year ended 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs). |
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
These accounts were approved by the members on 19 October 2024 and signed on their behalf by: |
|
|
M G Tristram |
Designated member |
|
Church Farm (Sompting) LLP |
Notes to the Accounts |
for the year ended 31 March 2024 |
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of VAT. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the crops have transferred to the buyer. |
|
|
Division of profits |
|
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account. |
|
|
Taxation |
|
Taxation is not provided for in the accounts as taxation is the personal liability of the members. |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Debtors |
|
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price. |
|
|
Members' capital |
|
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the LLP |
3 |
|
3 |
|
|
|
|
|
|
|
|
|
|
3 |
Fixed asset investments |
|
Other |
investments |
£ |
|
Cost |
|
At 1 April 2023 |
9,056 |
|
Disposals |
(9,056) |
|
|
At 31 March 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
At 1 April 2023 |
12,676 |
|
At 31 March 2024 |
- |
|
|
|
|
|
|
|
|
|
|
|
4 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Other debtors |
- |
|
1,632 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Trade creditors |
- |
|
2,605 |
|
Sompting Settlement creditor |
- |
|
13,239 |
|
Other creditors |
- |
|
1,649 |
|
|
|
|
|
|
- |
|
17,493 |
|
|
|
|
|
|
|
|
|
|
6 |
Loans and other debts due to members |
2024 |
|
2023 |
£ |
£ |
|
|
Loans from members |
(12,231) |
|
- |
|
Amounts due to members in respect of profits |
12,231 |
|
- |
|
|
|
|
|
|
- |
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up. |
|
|
7 |
Related party transactions |
|
|
The Sompting Settlement has trustees who are members of Church farm (Sompting) LLP. During the year Church Farm (Sompting) LLP paid rent of £335 (2023 - £2,800) to The Sompting Settlement. At the balance sheet date an amount of £nil was due to The Sompting Settlement (2023 - £13,239). |
|
|
8 |
Other information |
|
|
Church Farm (Sompting) LLP is a limited liability partnership incorporated in England. Its registered office is: |
|
Byne Cottage |
|
Manley's Hill |
|
Storrington |
|
West Sussex |
|
RH20 4BN |