SO304437falsepotato merchant2023-07-012024-06-30http://www.companieshouse.gov.uk/2023-06-30http://www.companieshouse.gov.uk/cd:Director12023-07-012024-06-30http://www.companieshouse.gov.uk/cd:Director22023-07-012024-06-30http://www.companieshouse.gov.uk/cd:LimitedLiabilityPartnershipLLP2023-07-012024-06-30http://www.companieshouse.gov.uk/pt:ToolsEquipment2023-06-30http://www.companieshouse.gov.uk/pt:ToolsEquipment2024-06-30http://www.companieshouse.gov.uk/cd:RegisteredOffice2023-07-012024-06-30http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2023-07-012024-06-30http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2024-06-30http://www.companieshouse.gov.uk/2022-07-012023-06-30http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2023-06-30http://www.companieshouse.gov.uk/2023-07-012024-06-30http://www.companieshouse.gov.uk/2023-06-30http://www.companieshouse.gov.uk/cd:FRS1022023-07-012024-06-30http://www.companieshouse.gov.uk/2024-06-30http://www.companieshouse.gov.uk/cd:FullAccounts2023-07-012024-06-30iso4217:GBPxbrli:sharesxbrli:pure
Registered number: SO304437

Thrums Produce LLP

ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2024

Prepared By:
Robert Kemp
4 Cuthill Towers
Milnathort
Kinross
KY13 9SE

Thrums Produce LLP

ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2024
DESIGNATED MEMBERS
W D Mitchell
J Milne
REGISTERED OFFICE
Viewfield House
Slade Road
Kirriemuir
Angus
DD8 5HN
COMPANY NUMBER
SO304437
BANKERS
Royal Bank of Scotland
ACCOUNTANT
Robert Kemp
4 Cuthill Towers
Milnathort
Kinross
KY13 9SE

Thrums Produce LLP

CONTENTS
Page
Report of the Members3
Report of the Accountant4
Profit and Loss Account5
Balance Sheet6
Notes to the Accounts7
The following do not form part of the statutory financial statements:
Trading and Profit and Loss Account11
Profit and Loss Account Summaries12
Capital Accounts-
Current Accounts12

Thrums Produce LLP

MEMBERS' REPORT
FOR THE YEAR ENDED 30 JUNE 2024
The members present their report and accounts for the year ended 30 June 2024
PRINCIPAL ACTIVITIES
The principal activity of the LLP in the year under review was potato merchant .
DESIGNATED MEMBERS
The designated members who served during the year were as follows:
W D Mitchell
J Milne
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £7,542 (2023 £(1,988)).
DRAWINGS POLICY
The LLP operates a drawings policy which has regard to a cautious estimate of expected profits. Drawings are restricted to prudent levels, taking into account working capital performance, until the results for the year and individual members' allocations have been determined.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 as modified by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs.
This report was approved on behalf of the members on 31 August 2024
J Milne
Designated member

Thrums Produce LLP

ACCOUNTANTS' REPORT TO THE MEMBERS ON THE UNAUDITED ACCOUNTS
OF THRUMS PRODUCE LLP, FOR THE YEAR ENDED 30 JUNE 2024
In order to assist you to fulfill your duties under the Companies Act 2006 as applied to LLP's, I have prepared for your approval the accounts of Thrums Produce LLP for the year ended 30 June 2024 as set out on pages 5 to 10 from the entity's accounting records and from information and explanations you have given me.
This report is made solely to the members of Thrums Produce LLP, as a body, in accordance with the terms of my engagement. My work has been undertaken solely to prepare for your approval the accounts of Thrums Produce LLP and state those matters that I have agreed to state to the Board of Directors of Thrums Produce LLP, as a body, in this report, in accordance with the requirements of the as detailed on their website. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Thrums Produce LLP and its Board of Directors as a body for my work or for this report.
It is your duty to ensure that Thrums Produce LLP has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profitability of Thrums Produce LLP. You consider that Thrums Produce LLP is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out a review of the accounts of Thrums Produce LLP. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory accounts.
Robert Kemp
4 Cuthill Towers
Milnathort
Kinross
KY13 9SE
5 September 2024

Thrums Produce LLP

PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED30 JUNE 2024
Notes20242023
££
TURNOVER3146,78538,403
Cost of sales(130,073)(32,028)
GROSS PROFIT16,7126,375
Administrative expenses4(9,170)(8,363)
OPERATING PROFIT / (LOSS)7,542(1,988)
PROFIT / (LOSS) FOR THE FINANCIALYEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS7,542(1,988)

Thrums Produce LLP

BALANCE SHEET AT 30 June 2024
20242023
Notes££
FIXED ASSETS
Tangible assets6608166
CURRENT ASSETS
Debtors733382
Cash at bank and in hand15,4974,148
15,8304,230
CREDITORS: Amounts falling due within one year85,400900
NET CURRENT ASSETS10,4303,330
NET ASSETS ATTRIBUTABLE TO MEMBERS11,0383,496
LOANS AND OTHER DEBTS DUE TO MEMBERS1011,0383,496
MEMBERS ' OTHER INTERESTS
11,0383,496
TOTAL MEMBERS' INTERESTS
Loans and other debts due to members1011,0383,496
11,0383,496
For the year ending 30 June 2024 the LLP was entitled to exemption under section 477 of the Companies Act 2006 as modified by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts as modified 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime modified by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs.
Approved by the members on 31 August 2024 and signed on their behalf by
.............................
W D Mitchell
Designated Member

Thrums Produce LLP

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2024
1. ACCOUNTING POLICIES
1b. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.
1b. Basis Of Accounting
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.
1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Equipmentreducing balance 25%
1d. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.
2. INFORMATION IN RELATION TO MEMBERS 20242023
The average number of members during the year was22

Thrums Produce LLP

3. TURNOVER
The turnover and pre-tax result is attributable to potato merchant.
20242023
££
Potato sales146,78538,403
146,78538,403
4. OTHER OPERATING EXPENSES 20242023
££
Selling and marketing costs503271
Administrative expenses8,4658,036
Costs relating to the purchase, use, and disposal of assets20256
9,1708,363
5. OPERATING PROFIT
20242023
££
Operating Profit is stated after charging:
Depreciation20256
20256

Thrums Produce LLP

6. TANGIBLE FIXED ASSETS
EquipmentTotal
££
Cost
At 1 July 20231,5181,518
Additions645645
At 30 June 20242,1632,163
Depreciation
At 1 July 20231,3521,352
For the year203203
At 30 June 20241,5551,555
Net Book Amounts
At 30 June 2024608608
At 30 June 2023166166
7. DEBTORS 20242023
££
Amounts falling due within one year:
Trade debtors67-
VAT26682
33382
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
Trade creditors3,605-
Other creditors1,795900
5,400900

Thrums Produce LLP

9. EMPLOYEES
20242023
No.No.
Average number of employees22
10. LOANS AND OTHER DEBTS DUE TO MEMBERS 20242023
££
Amounts due to members11,0383,496
The loans and debts due to members rank equally with debts due to ordinary creditors in a winding up.
11. MEMBERS INTERESTS
Members' capital (classified as equity)ReservesTotalLoans and other debts due to/(from) membersTotal
£££££
Amount due to members3,496
Balance at 1 July 2023---3,4963,496
Profit for the financial year available for discretionary division among members7,5427,542-7,542
Members' interests after profit for the year-7,5427,5423,49611,038
Other divisions of profit(7,542)(7,542)7,542
Amount due to members11,038
Balance at 30 June 2024---11,03811,038

Thrums Produce LLP

TRADING AND PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2024
20242023
££
Turnover146,78538,403
Cost of Sales:
Purchases128,26232,028
Other direct expenses1,811-
130,07332,028
130,07332,028
Gross Profit16,7126,375
16,7126,375
Less:
Distribution costs503271
Administrative expenses8,6678,092
9,1708,363
Net profit / (loss) for the year before taxation7,542(1,988)
Net profit / (loss) for the year after taxation7,542(1,988)
Retained profits / (losses) carried forward7,542(1,988)
This page does not form part of the Company's Statutory Accounts and is prepared for the information of the Directors only.

Thrums Produce LLP

PROFIT AND LOSS ACCOUNT SUMMARIES
FOR THE YEAR ENDED 30 JUNE 2024
20242023
££
Cost of sales - purchases:
Potato purchases128,13031,675
Haulage132353
128,26232,028
Cost of sales - other direct costs:
Bags1,811-
1,811-
Distribution Costs:
Business entertaining503271
503271
Administrative Expenses:
Heat and light320363
Motor expenses5,5544,280
Accountancy fees413900
Stationery & office supplies2424
Telephone 1,5851,782
Computer costs404613
Subscriptions114-
Bank charges5174
Depreciation and Amortisation:
Depreciation of equipment20256
8,6678,092
This page does not form part of the Company's Statutory Accounts and is prepared for the information of the Directors only.

Thrums Produce LLP

12. MEMBERS' CURRENT ACCOUNTS
W D MitchellJ MilneTotal
£££
At 1 July 20232,1221,3743,496
Share of profit3,7713,7717,542
5,8935,14511,038
At 30 June 20245,8935,14511,038