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REGISTERED NUMBER: OC387918 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1ST OCTOBER 2023 TO 31ST AUGUST 2024

FOR

R&S PAYTON FARMS LLP

R&S PAYTON FARMS LLP (REGISTERED NUMBER: OC387918)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST OCTOBER 2023 TO 31ST AUGUST 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R&S PAYTON FARMS LLP

GENERAL INFORMATION
FOR THE PERIOD 1ST OCTOBER 2023 TO 31ST AUGUST 2024







DESIGNATED MEMBERS: S P Payton
R P Payton





REGISTERED OFFICE: 25 St Thomas Street
Winchester
Hampshire
SO23 9HJ





REGISTERED NUMBER: OC387918 (England and Wales)





ACCOUNTANTS: Martin and Company
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

R&S PAYTON FARMS LLP (REGISTERED NUMBER: OC387918)

BALANCE SHEET
31ST AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 484,193 541,608
Investments 5 219 8,886
484,412 550,494

CURRENT ASSETS
Stocks 526,850 480,987
Debtors 6 172,298 204,788
Cash at bank and in hand 210 210
699,358 685,985
CREDITORS
Amounts falling due within one year 7 332,704 374,360
NET CURRENT ASSETS 366,654 311,625
TOTAL ASSETS LESS CURRENT
LIABILITIES

851,066

862,119

CREDITORS
Amounts falling due after more than one
year

8

40,211

118,481
NET ASSETS ATTRIBUTABLE TO
MEMBERS

810,855

743,638

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

810,855

743,638

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 810,855 743,638

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 period ended 31st August 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.

R&S PAYTON FARMS LLP (REGISTERED NUMBER: OC387918)

BALANCE SHEET - continued
31ST AUGUST 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 27th February 2025 and were signed by:




S P Payton - Designated member




R P Payton - Designated member


R&S PAYTON FARMS LLP (REGISTERED NUMBER: OC387918)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST OCTOBER 2023 TO 31ST AUGUST 2024


1. STATUTORY INFORMATION

R&S Payton Farms 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - at variable rates on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the period was NIL (2023 - 5 ).

R&S PAYTON FARMS LLP (REGISTERED NUMBER: OC387918)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST OCTOBER 2023 TO 31ST AUGUST 2024


4. TANGIBLE FIXED ASSETS
Tractors
Plant and and Motor
machinery machinery vehicles Totals
£    £    £    £   
COST
At 1st October 2023 115,166 726,721 49,132 891,019
Additions 1,530 17,800 - 19,330
Disposals (370 ) - - (370 )
At 31st August 2024 116,326 744,521 49,132 909,979
DEPRECIATION
At 1st October 2023 64,350 254,472 30,589 349,411
Charge for period 5,081 67,959 3,632 76,672
Eliminated on disposal (297 ) - - (297 )
At 31st August 2024 69,134 322,431 34,221 425,786
NET BOOK VALUE
At 31st August 2024 47,192 422,090 14,911 484,193
At 30th September 2023 50,816 472,249 18,543 541,608

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Investments 219 8,886

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 135,999 171,214
Other debtors 36,299 33,574
172,298 204,788

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 62,726 68,880
Hire purchase contracts 71,784 76,113
Trade creditors 149,441 165,355
Other creditors 48,753 64,012
332,704 374,360

R&S PAYTON FARMS LLP (REGISTERED NUMBER: OC387918)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST OCTOBER 2023 TO 31ST AUGUST 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 8,794 18,230
Hire purchase contracts 4,167 73,001
Other creditors 27,250 27,250
40,211 118,481

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

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