IRIS Accounts Production v24.3.2.46 OC352744 designated member 1.4.23 31.3.24 31.3.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC3527442023-03-31OC3527442024-03-31OC3527442023-04-012024-03-31OC3527442022-03-31OC3527442022-04-012023-03-31OC3527442023-03-31OC352744ns15:EnglandWales2023-04-012024-03-31OC352744ns14:PoundSterling2023-04-012024-03-31OC352744ns10:PartnerLLP12023-04-012024-03-31OC352744ns10:LimitedLiabilityPartnershipLLP2023-04-012024-03-31OC352744ns10:SmallEntities2023-04-012024-03-31OC352744ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-31OC352744ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31OC352744ns10:LimitedLiabilityPartnershipsSORP2023-04-012024-03-31OC352744ns10:FullAccounts2023-04-012024-03-31OC35274412023-04-012024-03-31OC352744ns10:PartnerLLP22023-04-012024-03-31OC352744ns10:PartnerLLP32023-04-012024-03-31OC352744ns10:RegisteredOffice2023-04-012024-03-31OC352744ns5:CurrentFinancialInstruments2024-03-31OC352744ns5:CurrentFinancialInstruments2023-03-31OC352744ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-31OC352744ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-04-012024-03-31OC352744ns5:PlantMachinery2023-04-012024-03-31OC352744ns5:MotorVehicles2023-04-012024-03-31OC352744ns5:IntangibleAssetsOtherThanGoodwill2023-03-31OC352744ns5:IntangibleAssetsOtherThanGoodwill2024-03-31OC352744ns5:IntangibleAssetsOtherThanGoodwill2023-03-31OC352744ns5:LandBuildings2023-03-31OC352744ns5:LeaseholdImprovements2023-03-31OC352744ns5:PlantMachinery2023-03-31OC352744ns5:MotorVehicles2023-03-31OC352744ns5:LandBuildings2023-04-012024-03-31OC352744ns5:LeaseholdImprovements2023-04-012024-03-31OC352744ns5:LandBuildings2024-03-31OC352744ns5:LeaseholdImprovements2024-03-31OC352744ns5:PlantMachinery2024-03-31OC352744ns5:MotorVehicles2024-03-31OC352744ns5:LandBuildings2023-03-31OC352744ns5:LeaseholdImprovements2023-03-31OC352744ns5:PlantMachinery2023-03-31OC352744ns5:MotorVehicles2023-03-31OC352744ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-31OC352744ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-31
REGISTERED NUMBER: OC352744 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

COBHAM FARMS LLP

COBHAM FARMS LLP (REGISTERED NUMBER: OC352744)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 5


COBHAM FARMS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DESIGNATED MEMBERS: Mrs C J Boileau
J A Trafford
Lady Cobham



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



REGISTERED NUMBER: OC352744 (England and Wales)



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



BANKERS: Coutts and Company
440 Strand
London
WC2R 0QS



SOLICITORS: Charles Russell Speechlys LLP
5 Fleet Place
London
EC4M 7RD

COBHAM FARMS LLP (REGISTERED NUMBER: OC352744)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 16,940 16,940
Tangible assets 5 44,104,573 41,211,491
44,121,513 41,228,431

CURRENT ASSETS
Stocks 502,473 728,196
Debtors 6 456,084 702,358
Cash at bank 2,731,846 142,167
3,690,403 1,572,721
CREDITORS
Amounts falling due within one year 7 709,993 319,131
NET CURRENT ASSETS 2,980,410 1,253,590
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

47,101,923

42,482,021

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

2,933,496

1,200,346

MEMBERS' OTHER INTERESTS
Capital accounts 44,168,427 41,281,675
47,101,923 42,482,021

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 2,933,496 1,200,346
Members' other interests 44,168,427 41,281,675
47,101,923 42,482,021

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 31st March 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.

COBHAM FARMS LLP (REGISTERED NUMBER: OC352744)

BALANCE SHEET - continued
31ST MARCH 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.

COBHAM FARMS LLP (REGISTERED NUMBER: OC352744)

BALANCE SHEET - continued
31ST MARCH 2024



The financial statements were approved by the members of the LLP and authorised for issue on 2nd February 2025 and were signed by:





Lady Cobham - Designated member

COBHAM FARMS LLP (REGISTERED NUMBER: OC352744)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

Cobham 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Basic payment scheme entitlements are being amortised evenly over their estimated useful life of seven years.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance

The value of freehold buildings is not separately identified from land on the LLP's in-hand farming properties as this is not considered to provide any additional value to the members. No depreciation is therefore provided in respect of these buildings.

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

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 year was 4 (2023 - 4 ) .

COBHAM FARMS LLP (REGISTERED NUMBER: OC352744)

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


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st April 2023
and 31st March 2024 106,728
AMORTISATION
At 1st April 2023
and 31st March 2024 89,788
NET BOOK VALUE
At 31st March 2024 16,940
At 31st March 2023 16,940

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and Motor
property property machinery vehicles Totals
£    £    £    £    £   
COST
At 1st April 2023 33,229,304 7,945,616 197,478 31,450 41,403,848
Additions 1,088,323 1,798,430 17,421 - 2,904,174
At 31st March 2024 34,317,627 9,744,046 214,899 31,450 44,308,022
DEPRECIATION
At 1st April 2023 - 17,087 146,023 29,247 192,357
Charge for year - - 10,541 551 11,092
At 31st March 2024 - 17,087 156,564 29,798 203,449
NET BOOK VALUE
At 31st March 2024 34,317,627 9,726,959 58,335 1,652 44,104,573
At 31st March 2023 33,229,304 7,928,529 51,455 2,203 41,211,491

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 230,702 545,432
VAT 36,692 83,038
Prepayments and accrued income 188,690 73,888
456,084 702,358

COBHAM FARMS LLP (REGISTERED NUMBER: OC352744)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 522,297 168,044
Social security and other taxes - 3,347
Accruals and deferred income 187,696 147,740
709,993 319,131

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to ordinary creditors on winding up.