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REGISTERED NUMBER: OC442187 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

G R WARD CONTRACTORS LLP

G R WARD CONTRACTORS LLP (REGISTERED NUMBER: OC442187)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


G R WARD CONTRACTORS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DESIGNATED MEMBERS: Mrs S M Ward
J R B Ward
T R Ward
J J Ward



REGISTERED OFFICE: Mill Farm
Caythorpe Heath
Grantham
Lincolnshire
NG32 3EZ



REGISTERED NUMBER: OC442187 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF



BANKERS: Virgin Money
Sunderland
SR43 4JB

G R WARD CONTRACTORS LLP (REGISTERED NUMBER: OC442187)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 172,198 179,659

CURRENT ASSETS
Stocks 19,762 6,884
Debtors 5 399,305 449,117
Cash at bank 9,791 171,387
428,858 627,388
CREDITORS
Amounts falling due within one year 6 98,050 362,542
NET CURRENT ASSETS 330,808 264,846
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO MEMBERS 503,006 444,505

LOANS AND OTHER DEBTS DUE TO MEMBERS 7 503,006 444,505

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 503,006 444,505

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 31 May 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.

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 12 December 2024 and were signed by:





J R B Ward - Designated member

G R WARD CONTRACTORS LLP (REGISTERED NUMBER: OC442187)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

G R Ward Contractors 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 the fair value of net invoiced sales of agricultural contracting services, excluding VAT. Revenue is recognised on the day the work is undertaken.

Tangible fixed assets
Tangible fixed assets are depreciated to agree with capital allowances for taxation purposes.

Stocks
Stock is valued by the members at the lower of cost and fair value less costs to sell after making due allowance for obsolete and slow moving items.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 June 2023 85,857 106,458 192,315
Additions 51,500 - 51,500
Disposals (6,820 ) (4,686 ) (11,506 )
At 31 May 2024 130,537 101,772 232,309
DEPRECIATION
At 1 June 2023 6,122 6,534 12,656
Charge for year 40,467 7,808 48,275
Eliminated on disposal (486 ) (334 ) (820 )
At 31 May 2024 46,103 14,008 60,111
NET BOOK VALUE
At 31 May 2024 84,434 87,764 172,198
At 31 May 2023 79,735 99,924 179,659

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors and prepayments 139,305 184,117
Other debtors 260,000 265,000
399,305 449,117

G R WARD CONTRACTORS LLP (REGISTERED NUMBER: OC442187)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 70,353 315,531
Social security and other taxes 4,491 -
VAT 19,526 43,601
Accrued expenses 3,680 3,410
98,050 362,542

7. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 503,006 444,505

Falling due within one year 503,006 444,505

Loans and other debts de to members will rank equally with unsecured creditors in the event of the LLP being wound up. No additional protection is afforded to unsecured creditors.