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REGISTERED NUMBER: OC420804 (England and Wales)












Unaudited Financial Statements

for the Year Ended 5 April 2024

for

Ridgeway Farm Stud LLP

Ridgeway Farm Stud LLP (Registered number: OC420804)






Contents of the Financial Statements
for the Year Ended 5 April 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ridgeway Farm Stud LLP

General Information
for the Year Ended 5 April 2024







DESIGNATED MEMBERS: R F Stones
T J W Duthie





REGISTERED OFFICE: Ridgeway Farm
Sailors Lane
Thursley
Godalming
Surrey
GU8 6QP





REGISTERED NUMBER: OC420804 (England and Wales)





ACCOUNTANTS: Butler & Co Alresford Limited
Chartered Accountants
The Old Stables
Sutton Manor Farm
Bishops Sutton
Alresford
Hampshire
SO24 0AA

Ridgeway Farm Stud LLP (Registered number: OC420804)

Balance Sheet
5 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 400,330 547,186

CURRENT ASSETS
Stocks 920,761 1,475,500
Debtors 5 1,631,072 1,060,126
Cash at bank 85,463 50,659
2,637,296 2,586,285
CREDITORS
Amounts falling due within one year 6 58,576 38,713
NET CURRENT ASSETS 2,578,720 2,547,572
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

2,979,050

3,094,758

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

2,979,050

3,094,758

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 2,979,050 3,094,758
Amounts due from members 5 (1,562,518 ) (1,046,718 )
1,416,532 2,048,040

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 year ended 5 April 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.

Ridgeway Farm Stud LLP (Registered number: OC420804)

Balance Sheet - continued
5 April 2024


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 3 January 2025 and were signed by:





R F Stones - Designated member

Ridgeway Farm Stud LLP (Registered number: OC420804)

Notes to the Financial Statements
for the Year Ended 5 April 2024

1. STATUTORY INFORMATION

Ridgeway Farm Stud 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 net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% reducing balance basis
Fixtures and fittings - 25% reducing balance basis
Motor vehicles - 25% reducing balance basis
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value at the year end by the members. When calculating the cost figure this includes the cost of production of the horses.

Hire purchase and leasing commitments
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 - 2 ).

4. TANGIBLE FIXED ASSETS
Improvements
Peppermill to Plant and
Sculpture property machinery
£    £    £   
COST
At 6 April 2023 83,332 247,284 126,869
Disposals - - -
At 5 April 2024 83,332 247,284 126,869
DEPRECIATION
At 6 April 2023 - - 82,647
Charge for year - - 11,055
Eliminated on disposal - - -
At 5 April 2024 - - 93,702
NET BOOK VALUE
At 5 April 2024 83,332 247,284 33,167
At 5 April 2023 83,332 247,284 44,222

Ridgeway Farm Stud LLP (Registered number: OC420804)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 6 April 2023 91,471 294,980 1,642 845,578
Disposals - (246,000 ) - (246,000 )
At 5 April 2024 91,471 48,980 1,642 599,578
DEPRECIATION
At 6 April 2023 63,406 150,901 1,438 298,392
Charge for year 7,016 5,165 204 23,440
Eliminated on disposal - (122,584 ) - (122,584 )
At 5 April 2024 70,422 33,482 1,642 199,248
NET BOOK VALUE
At 5 April 2024 21,049 15,498 - 400,330
At 5 April 2023 28,065 144,079 204 547,186

Improvements to property relate to a freehold property that is owned by Mrs R F Stones but held outside of the LLP. It has been made available to the LLP during the year.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 50,145 6,500
Amounts due from members 1,562,518 1,046,718
Other debtors - 935
VAT 18,409 5,973
1,631,072 1,060,126

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 38,378 -
Trade creditors 22,007 42,881
Social security and other taxes (7,073 ) (7,073 )
Accrued expenses 5,264 2,905
58,576 38,713

Ridgeway Farm Stud LLP (Registered number: OC420804)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024

7. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 2,979,050 3,094,758

Falling due within one year 2,979,050 3,094,758

In the event of a winding up other unsecured creditors of the LLP will take priority over any loans and other debts due to members.