Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-31No description of principal activity2023-09-01false44falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC412462 2023-09-01 2024-08-31 OC412462 c:KeyManagementIndividualGroup1 2023-09-01 2024-08-31 OC412462 c:KeyManagementIndividualGroup2 2023-09-01 2024-08-31 OC412462 c:KeyManagementIndividualGroup3 2023-09-01 2024-08-31 OC412462 c:KeyManagementIndividualGroup4 2023-09-01 2024-08-31 OC412462 2022-09-01 2023-08-31 OC412462 2024-08-31 OC412462 c:KeyManagementIndividualGroup1 c:OtherTransactionType1 2024-08-31 OC412462 c:KeyManagementIndividualGroup2 c:OtherTransactionType2 2024-08-31 OC412462 c:KeyManagementIndividualGroup3 c:OtherTransactionType3 2024-08-31 OC412462 c:KeyManagementIndividualGroup4 c:OtherTransactionType4 2024-08-31 OC412462 2023-08-31 OC412462 c:Buildings 2024-08-31 OC412462 c:Buildings 2023-08-31 OC412462 c:Buildings c:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 OC412462 c:PlantMachinery 2024-08-31 OC412462 c:PlantMachinery 2023-08-31 OC412462 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 OC412462 c:MotorVehicles 2024-08-31 OC412462 c:MotorVehicles 2023-08-31 OC412462 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 OC412462 c:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 OC412462 c:CurrentFinancialInstruments 2024-08-31 OC412462 c:CurrentFinancialInstruments 2023-08-31 OC412462 c:Non-currentFinancialInstruments 2024-08-31 OC412462 c:Non-currentFinancialInstruments 2023-08-31 OC412462 c:CurrentFinancialInstruments c:WithinOneYear 2024-08-31 OC412462 c:CurrentFinancialInstruments c:WithinOneYear 2023-08-31 OC412462 c:Non-currentFinancialInstruments c:AfterOneYear 2024-08-31 OC412462 c:Non-currentFinancialInstruments c:AfterOneYear 2023-08-31 OC412462 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2024-08-31 OC412462 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2023-08-31 OC412462 d:FRS102 2023-09-01 2024-08-31 OC412462 d:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 OC412462 d:FullAccounts 2023-09-01 2024-08-31 OC412462 d:LimitedLiabilityPartnershipLLP 2023-09-01 2024-08-31 OC412462 d:PartnerLLP1 2023-09-01 2024-08-31 OC412462 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: OC412462










NJC & SONS FARMS LLP








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
NJC & SONS FARMS LLP
REGISTERED NUMBER: OC412462

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,167,173
1,168,013

Current assets
  

Debtors: amounts falling due within one year
 5 
217,310
175,999

Cash at bank and in hand
  
7,745
36,051

  
225,055
212,050

Creditors: amounts falling due within one year
 6 
(48,366)
(30,834)

Net current assets
  
 
 
176,689
 
 
181,216

Total assets less current liabilities
  
1,343,862
1,349,229

Creditors: amounts falling due after more than one year
 7 
(1,359,697)
(1,359,697)

  

Net liabilities
  
(15,835)
(10,468)


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 9 
(15,835)
(10,468)

  

  
(15,835)
(10,468)


Total members' interests
  

Loans and other debts due to members
 9 
(15,835)
(10,468)

  
(15,835)
(10,468)


Page 1

 
NJC & SONS FARMS LLP
REGISTERED NUMBER: OC412462
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 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 statement of comprehensive income 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 N J Collett
Designated member

Date: 3 February 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
NJC & SONS FARMS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

NJC & Sons Farms LLP (“the LLP”) is a limited liability partnership incorporated in England and Wales under the Companies Act. 
The registered number and address of the registered office are given in the LLP information.
The functional and presentational currency of the LLP is pounds sterling (£) and rounded to the nearest whole pound. 

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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis which assumes that the LLP will continue in operational existence for the foreseeable future. The validity of this assumption depends upon an improvement in the LLP's trading position and continued financial support from its members and related companies. The financial statements do not include any adjustments that would result if such support is not continuing.

 
2.3

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:

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 3

 
NJC & SONS FARMS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

  
2.4

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.
At each reporting date the LLP assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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 the Statement of comprehensive income.
The LLP does not depreciate freehold land and buildings. The members are satisfied that the holding value of the property is at least equal to its ultimate residual value. This treatment is contrary to the Companies Act 2006, which states that fixed assets should be depreciated but is, in the opinion of the members, necessary in order to give a true and fair view of the financial position of the company.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis:
Motor vehicles          - 25% straight line
Plant and machinery - 25% straight line

 
2.5

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.

 
2.6

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.

 
2.7

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.

Page 4

 
NJC & SONS FARMS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.


3.


Employees




The average monthly number of employees, including members, during the year was 4 (2023 - 4).

Page 5

 
NJC & SONS FARMS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Tangible fixed assets





Freehold land and property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost 


At 1 September 2023
1,167,173
3,360
37,000
1,207,533



At 31 August 2024

1,167,173
3,360
37,000
1,207,533



Depreciation


At 1 September 2023
-
2,520
37,000
39,520


Charge for the year on owned assets
-
840
-
840



At 31 August 2024

-
3,360
37,000
40,360



Net book value



At 31 August 2024
1,167,173
-
-
1,167,173



At 31 August 2023
1,167,173
840
-
1,168,013

Page 6

 
NJC & SONS FARMS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Debtors

2024
2023
£
£


Trade debtors
359
604

Other debtors
122,951
130,395

Prepayments and accrued income
94,000
45,000

217,310
175,999



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
7,323
22,128

Other taxation and social security
-
5,256

Other creditors
38,543
-

Accruals and deferred income
2,500
3,450

48,366
30,834



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,359,697
1,359,697

1,359,697
1,359,697


Bank loans totalling £1,359,697 (2023: £1,359,697) are secured against the assets of the company.


8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
1,359,697
1,359,697


Page 7

 
NJC & SONS FARMS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

9.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
15,835
10,468

15,835
10,468

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

2024
2023
£
£



Falling due within one year
15,835
10,468

15,835
10,468

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


10.


Related party transactions

The LLP was owed £25,093 (2023: £3,418) by Collmart Growers Limited, a company with directors and shareholders in common with the LLP's members. This balance is included in other debtors.
The LLP was owed £51,510 (2023: £27,877) by DJC Farms Limited, a company with directors and shareholders in common with the LLP's members. This balance is included in other debtors.
The LLP was owed £35,750 (2023: £34,750) by Bio Diversity Net Gain Partnership Limited, a company with directors and shareholders in common with the LLP's members. This balance is included in other debtors.
The LLP was due £38,543 (2023: was owed £64,350) by Holme Wood Property Developments Limited, a company with directors and shareholders in common with the LLP's members. This balance is included in other creditors (2023: other debtors).
All balances are interest free, unsecured and repayable on demand. 

 
Page 8