Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-317The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2023-09-01falseNo description of principal activity2truefalse OC347720 2023-09-01 2024-03-31 OC347720 2022-09-01 2023-08-31 OC347720 2024-03-31 OC347720 2023-08-31 OC347720 c:Buildings 2023-09-01 2024-03-31 OC347720 c:Buildings 2024-03-31 OC347720 c:Buildings 2023-08-31 OC347720 c:Buildings c:OwnedOrFreeholdAssets 2023-09-01 2024-03-31 OC347720 c:Buildings c:LeasedAssetsHeldAsLessee 2023-09-01 2024-03-31 OC347720 c:PlantMachinery 2023-09-01 2024-03-31 OC347720 c:PlantMachinery 2024-03-31 OC347720 c:PlantMachinery 2023-08-31 OC347720 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-09-01 2024-03-31 OC347720 c:PlantMachinery c:LeasedAssetsHeldAsLessee 2023-09-01 2024-03-31 OC347720 c:FurnitureFittings 2023-09-01 2024-03-31 OC347720 c:FurnitureFittings 2024-03-31 OC347720 c:FurnitureFittings 2023-08-31 OC347720 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-09-01 2024-03-31 OC347720 c:FurnitureFittings c:LeasedAssetsHeldAsLessee 2023-09-01 2024-03-31 OC347720 c:OwnedOrFreeholdAssets 2023-09-01 2024-03-31 OC347720 c:LeasedAssetsHeldAsLessee 2023-09-01 2024-03-31 OC347720 c:Goodwill 2023-09-01 2024-03-31 OC347720 c:Goodwill 2024-03-31 OC347720 c:Goodwill 2023-08-31 OC347720 c:CurrentFinancialInstruments 2024-03-31 OC347720 c:CurrentFinancialInstruments 2023-08-31 OC347720 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC347720 c:CurrentFinancialInstruments c:WithinOneYear 2023-08-31 OC347720 d:FRS102 2023-09-01 2024-03-31 OC347720 d:AuditExempt-NoAccountantsReport 2023-09-01 2024-03-31 OC347720 d:FullAccounts 2023-09-01 2024-03-31 OC347720 d:LimitedLiabilityPartnershipLLP 2023-09-01 2024-03-31 OC347720 c:PlantMachinery c:LeasedAssetsHeldAsLessee 2024-03-31 OC347720 c:PlantMachinery c:LeasedAssetsHeldAsLessee 2023-08-31 OC347720 c:Goodwill c:OwnedIntangibleAssets 2023-09-01 2024-03-31 OC347720 d:PartnerLLP1 2023-09-01 2024-03-31 OC347720 d:PartnerLLP2 2023-09-01 2024-03-31 OC347720 e:PoundSterling 2023-09-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: OC347720









CB FARMS LLP

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
CB FARMS LLP
REGISTERED NUMBER: OC347720

BALANCE SHEET
AS AT 31 MARCH 2024

31 March
31 August
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,234
2,198

Tangible assets
 5 
5,732,880
5,757,590

Biological assets
 7 
76,521
74,914

  
5,810,635
5,834,702

Current assets
  

Stocks
  
2,070
18,480

Biological assets
 7 
95,550
133,070

Debtors: amounts falling due within one year
 6 
62,517
33,384

Cash at bank
  
26,772
13,183

  
186,909
198,117

Current liabilities
  

Creditors: amounts falling due within one year
 8 
(31,879)
(38,006)

Net current assets
  
 
 
155,030
 
 
160,111

Total assets less current liabilities
  
5,965,665
5,994,813

  

Net assets
  
5,965,665
5,994,813


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 9 
5,965,665
5,994,813

  

  
5,965,665
5,994,813


Total members' interests
  

Loans and other debts due to members
 9 
5,965,665
5,994,813

  
5,965,665
5,994,813


Page 1

 
CB FARMS LLP
REGISTERED NUMBER: OC347720

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the profit and loss account in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf by: 




................................................
Mr J K Bell
................................................
Mr L Christophilopoulos
Designated member
Designated member


Date: 16 January 2025
Date:16 January 2025

The notes on pages 4 to 12 form part of these financial statements.

CB Farms LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

Page 2

 
CB FARMS LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE PERIOD ENDED 31 MARCH 2024






EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Other reserves
Total
Other amounts
Total
Total

£
£
£
£
£

Profit for the year available for discretionary division among members
 
6,003
6,003
-
-
6,003

Members' interests after profit for the year
6,003
6,003
5,978,810
5,978,810
5,984,813

Other division of profits
(6,003)
(6,003)
6,003
6,003
-

Amounts introduced by members
-
-
20,000
20,000
20,000

Drawings on account and distribution of profit
-
-
(10,000)
(10,000)
(10,000)

Amounts due to members
5,994,813
5,994,813

Balance at 31 August 2023
-
-
5,994,763
5,994,763
5,994,763

Loss for the period available for discretionary division among members
 
(39,098)
(39,098)
-
-
(39,098)

Members' interests after profit for the period
(39,098)
(39,098)
5,994,763
5,994,763
5,955,665

Other division of losses
39,098
39,098
(39,098)
(39,098)
-

Amounts introduced by members
-
-
20,000
20,000
20,000

Drawings on account and distribution of profit
-
-
(10,000)
(10,000)
(10,000)

Amounts due to members
5,965,665
5,965,665

Balance at 31 March 2024 
-
-
5,965,665
5,965,665
5,965,665

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 3

 
CB FARMS LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

CB Farms LLP is a Limited Liability Partnership, incorporated in England and Wales within the United Kingdom. The address of the registered office is The Hall, Newton Le Willows, Bedale, North Yorkshire DL8 1SW. This Company is not part of a group.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the LLP has transferred the significant risks and rewards of ownership to the buyer;
the LLP retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
CB FARMS LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the LLP as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Pensions

Defined contribution pension plan

The LLP operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the LLP in independently administered funds.

 
2.6

Division and distribution of profits

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 automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .

In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.

Page 5

 
CB FARMS LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Profit and Loss Account over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line
Plant and machinery
-
20%
reducing balance
Fixtures and fittings
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 6

 
CB FARMS LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

  
2.10

Biological non-current assets

Biological assets held for continuing use within the business are classified as fixed assets. Such assets are measured at cost less accumulated depreciation and impairment. The net movement in the year is reflected through the profit and loss. Assets within the classification comprise a beef herd.
Depreciation of biological non-current assets
Depreciation is charged so as to write off the costs of assets, less their estimated selling price less costs to sale, other their estimated useful economic life as follows:
Asset class                                                                                   Depreciation method and rate
Beef herd                                                                                      Depreciated to cull value over useful
                                                                                                      life of 8 years on a straight line basis 

  
2.11

Biological current assets

Biological assets not held for coninuing use within the business are classified as current assets. Such assets are measured at cost less accumulated impairment. Assets within this classification comprise of beef stores.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including directors, during the period was 7 (2023 - 2).

Page 7

 
CB FARMS LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Intangible assets






Entitlements

£



Cost


At 1 September 2023
16,554



At 31 March 2024

16,554



Amortisation


At 1 September 2023
14,356


Charge for the period on owned assets
964



At 31 March 2024

15,320



Net book value



At 31 March 2024
1,234



At 31 August 2023
2,198



Page 8

 
CB FARMS LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

5.


Tangible fixed assets







Freehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost


At 1 September 2023
5,951,695
186,711
85,484
6,223,890


Additions
-
7,216
315
7,531


Disposals
-
(1,514)
(259)
(1,773)



At 31 March 2024

5,951,695
192,413
85,540
6,229,648



Depreciation


At 1 September 2023
287,334
117,162
61,804
466,300


Charge for the period on owned assets
19,916
4,203
2,787
26,906


Charge for the period on financed assets
-
4,705
-
4,705


Disposals
-
(990)
(153)
(1,143)



At 31 March 2024

307,250
125,080
64,438
496,768



Net book value



At 31 March 2024
5,644,445
67,333
21,102
5,732,880



At 31 August 2023
5,664,361
69,549
23,680
5,757,590

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


31 March
31 August
2024
2023
£
£



Plant and machinery
35,626
40,331

Page 9

 
CB FARMS LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

6.


Debtors

31 March
31 August
2024
2023
£
£


Trade debtors
60,350
28,535

Other debtors
1,192
2,779

Prepayments
975
2,075

62,517
33,389


Page 10
 


 
CB FARMS LLP


 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

7.

Biological assets


Beef herd
Total non-current biological assets
Livestock
Total current assets

£
£
£
£

Cost or valuation

At 1 September 2023
86,400
86,400
95,550
95,550

Additions
8,100
8,100
-
-

Disposals
(3,000)
(3,000)
-
-


At 31 March 2024
91,500
91,500
95,550
95,550


Depreciation

At 1 September 2023
11,486
11,486
-
-

Charge for the year
4,075
4,075
-
-

Disposals
(582)
(582)
-
-


At 31 March 2024
14,979
14,979
-
-


Net book value

At 31 March 2024
76,521
76,521
95,550
95,550

At 31 August 2023
74,914
74,914
95,550
95,550
Page 11
 
CB FARMS LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due within one year

31 March
31 August
2024
2023
£
£

Other taxation and social security
76
-

Net obligations under finance lease and hire purchase contracts
-
9,888

Other creditors
800
2,744

Accruals and deferred income
31,003
25,374

31,879
38,006



9.


Loans and other debts due to members


31 March
31 August
2024
2023
£
£



Other amounts due to members
5,965,665
5,994,813

Loans and other debts due to members may be further analysed as follows:

31 March
31 August
2024
2023
£
£



Falling due within one year
5,965,665
5,994,813

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.


10.


Pension commitments

The LLP operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the LLP in an independently administered fund. The pension cost charge represents contributions payable by the LLP and amounted to £1,384 (2023 - £1,901). Contributions totalling £Nil (2023 - £244) were payable to the fund at the balance sheet date and are included in creditors.


Page 12