MOOR FARM POLO CLUB LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Moor Farm Polo Club LLP (registered number OC417409) is a Limited Liability Partnership incorporated in England and Wales on 20 May 2017, with it's registered office at Belmont House, Shrewsbury Business Park, Shrewsbury, Shropshire, SY2 6LG and principal place of business at Moor Farm, Baschurch, Shrewsbury, Shropshire, SY4 2EB.
The comparative figures relate to the year ended 31 March 2023.
The LLP has not traded during the year ended 31 March 2024, and remains dormant.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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Division and distribution of profits
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A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.
An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.
The LLP divides profits discretionarily. Discretionary divisions of profits are recognised as amounts due to members, although may be used to offset amounts which have been drawn by members, which are recognised as loan assets repayable.
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The entity has no employees.
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The average monthly number of employees, including directors, during the year was 0 (2023 - 0).
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