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REGISTERED NUMBER: OC321810 (England and Wales)











































A & H Farming LLP

Financial Statements

for the period

1st February 2023 to 31st March 2024






A & H Farming LLP (Registered number: OC321810)






Contents of the Financial Statements
for the period 1st February 2023 to 31st March 2024




Page

General information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 6


A & H Farming LLP

General Information
for the period 1st February 2023 to 31st March 2024







Designated members: Craig Bell
Cameron Bell
Richard Pearson





Registered office: East Holburn Farmhouse
East Holburn
Lowick
Northumberland
TD15 2UJ





Registered number: OC321810 (England and Wales)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

A & H Farming LLP (Registered number: OC321810)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 1,169,400 1,169,400

Current assets
Stocks 92,812 135,115
Debtors 5 48,384 140,277
Investments 6 3,002 3,002
Cash at bank - 31,790
144,198 310,184
Creditors
Amounts falling due within one year 7 351,158 344,964
Net current liabilities (206,960 ) (34,780 )
Total assets less current liabilities 962,440 1,134,620

Creditors
Amounts falling due after more than one
year

8

506,620

689,446
Net assets attributable to members 455,820 445,174

Loans and other debts due to
members

10

455,820

445,174

Total members' interests
Loans and other debts due to members 10 455,820 445,174

A & H Farming LLP (Registered number: OC321810)

Balance Sheet - continued
31st March 2024


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.

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 18th September 2024 and were signed by:





Craig Bell - Designated member

A & H Farming LLP (Registered number: OC321810)

Notes to the Financial Statements
for the period 1st February 2023 to 31st March 2024

1. Statutory information

A & H Farming LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Implements, plant & machinery - at variable rates on reducing balance
Tractors - at variable rates on reducing balance
Combines - at variable rates on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stock is valued at the lower of cost and net realisable value. Cost includes all direct expenditure and appropriate proportion of fixed and variable overheads. Net realisable value is based on estimated selling prices.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals, bank overdraft, other loans and hire purchase contracts.

Hire purchase contracts are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Trade debtors, trade creditors, accruals, bank overdraft and other loans are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement.

Members remuneration
Profits and losses are automatically divided between members in accordance with the terms of the LLP agreement, and hence there are no unallocated profits or losses.

A & H Farming LLP (Registered number: OC321810)

Notes to the Financial Statements - continued
for the period 1st February 2023 to 31st March 2024

2. Accounting policies - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Going Concern
The members have considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and they have an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3. Employee information

The average number of employees during the period was NIL (2023 - NIL).

4. Tangible fixed assets
Implements,
plant &
machinery Tractors Combines Totals
£    £    £    £   
Cost
At 1st February 2023
and 31st March 2024 591,162 597,438 399,998 1,588,598
Depreciation
At 1st February 2023
and 31st March 2024 276,162 95,438 47,598 419,198
Net book value
At 31st March 2024 315,000 502,000 352,400 1,169,400
At 31st January 2023 315,000 502,000 352,400 1,169,400


5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 40,906 124,209
Other debtors 7,478 16,068
48,384 140,277

A & H Farming LLP (Registered number: OC321810)

Notes to the Financial Statements - continued
for the period 1st February 2023 to 31st March 2024

6. Current asset investments
2024 2023
£    £   
Unlisted investments 3,002 3,002

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 29,522 -
Hire purchase contracts 142,287 211,335
Trade creditors 40,849 53,129
Other creditors 138,500 80,500
351,158 344,964

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Hire purchase contracts 506,620 689,446

Amounts falling due in more than five years:

Repayable by instalments
Hire purchase 61,145 134,384

9. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 648,907 900,781

Hire purchase contracts are secured against the assets in which they relate.

10. Loans and other debts due to members

In the event of a winding up, any amounts owed to the LLP's bankers are secured by charges on the assets of the LLP.

Capital loans and other debts due to members rank behind creditors, in accordance with the members' agreement.

11. Post balance sheet events

Richard Thomas Pearson terminated his appointment as a member on 31 August 2024.