REGISTERED NUMBER: |
Report of the Members and |
Financial Statements |
for the Year Ended 5 April 2024 |
for |
Arboretum Partners LLP |
REGISTERED NUMBER: |
Report of the Members and |
Financial Statements |
for the Year Ended 5 April 2024 |
for |
Arboretum Partners LLP |
Arboretum Partners LLP (Registered number: OC381941) |
Contents of the Financial Statements |
for the Year Ended 5 April 2024 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 6 |
Arboretum Partners LLP |
General Information |
for the Year Ended 5 April 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Coval Hall |
Rainsford Road |
Chelmsford |
Essex |
CM1 2QF |
AGENTS: |
269 Banbury Road |
Summertown |
Oxford |
OX2 7LL |
Arboretum Partners LLP (Registered number: OC381941) |
Report of the Members |
for the Year Ended 5 April 2024 |
The members present their report with the financial statements of the LLP for the year ended 5 April 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of arable and livestock farming, land ownership and consultancy advice. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The loss for the year before members' remuneration and profit shares was £22,550 (2023 - £177,166 profit). |
MEMBERS' INTERESTS |
ON BEHALF OF THE MEMBERS: |
Arboretum Partners LLP (Registered number: OC381941) |
Income Statement |
for the Year Ended 5 April 2024 |
2024 | 2023 |
Notes | £ | £ |
TURNOVER |
Cost of sales | ( |
) | ( |
) |
GROSS (LOSS)/PROFIT | ( |
) |
Distribution costs | ( |
) | ( |
) |
Administrative expenses | ( |
) | ( |
) |
(135,229 | ) | (36,173 | ) |
Other operating income |
OPERATING PROFIT | 4 |
Interest receivable and similar income |
49,940 | 249,655 |
Interest payable and similar expenses | ( |
) | ( |
) |
(LOSS)/PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
( |
) |
Arboretum Partners LLP (Registered number: OC381941) |
Balance Sheet |
5 April 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 6,049,720 | 6,059,258 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
10 |
1,509,840 |
1,716,758 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 4,539,880 | 4,342,500 |
6,049,720 | 6,059,258 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 10 | 1,509,840 | 1,716,758 |
Members' other interests | 4,539,880 | 4,342,500 |
6,049,720 | 6,059,258 |
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. |
Arboretum Partners LLP (Registered number: OC381941) |
Balance Sheet - continued |
5 April 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
Arboretum Partners LLP (Registered number: OC381941) |
Notes to the Financial Statements |
for the Year Ended 5 April 2024 |
1. | STATUTORY INFORMATION |
Arboretum Partners 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 |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Motor vehicles | - |
Stocks |
Stocks are valued in accordance with current RICS and CAAV guidance, the UK GAAP accounting |
standards, HMRC BIM55410 (also known as Helpsheet HS232 titled “Farm Stock Valuation” (previously BEN19) and Statement of Standard Accounting Practice 9 (SSAP9) issued by the Accounting Standards Board. |
Stocks are valued at the lower of cost and net realisable value. |
Cattle have been valued on a deemed cost basis which has been calculated at 60% of market value. |
Crops in store have been valued on a deemed cost basis which has been calculated at 75% of market value. |
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 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 profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2023 - |
Arboretum Partners LLP (Registered number: OC381941) |
Notes to the Financial Statements - continued |
for the Year Ended 5 April 2024 |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
Basic Payment Entitlements amortisation |
5. | INTANGIBLE FIXED ASSETS |
Basic |
Payment |
Entitlements |
£ |
COST |
At 6 April 2023 |
and 5 April 2024 |
AMORTISATION |
At 6 April 2023 |
Amortisation for year |
At 5 April 2024 |
NET BOOK VALUE |
At 5 April 2024 |
At 5 April 2023 |
6. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and | Motor |
property | property | machinery | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 6 April 2023 |
Disposals | ( |
) | ( |
) |
At 5 April 2024 |
DEPRECIATION |
At 6 April 2023 |
Charge for year |
Charge written back | - | - | (6,621 | ) | - | (6,621 | ) |
At 5 April 2024 |
NET BOOK VALUE |
At 5 April 2024 |
At 5 April 2023 |
Arboretum Partners LLP (Registered number: OC381941) |
Notes to the Financial Statements - continued |
for the Year Ended 5 April 2024 |
6. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 6 April 2023 |
and 5 April 2024 |
DEPRECIATION |
At 6 April 2023 |
Charge for year |
At 5 April 2024 |
NET BOOK VALUE |
At 5 April 2024 |
At 5 April 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
VAT |
Prepayments and accrued income |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Accrued expenses |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts |
10. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members rank equally with debts due to ordinary creditors in a |
winding up. |