D R Metson & Partners LLP Filleted Accounts Cover
D R Metson & Partners LLP
Registered No. OC436295
Information for Filing with the Registrar
31 March 2024
D R Metson & Partners LLP Balance Sheet Registrar
at
31 March 2024
Registered No.
OC436295
Notes
2024
2023
£
£
Fixed assets
Tangible assets
5
985,207
848,080
Investments
6
600
100
985,807
848,180
Current assets
Stocks
7
119,023
177,000
Debtors
8
126,791
267,763
Cash at bank and in hand
184,267
188,414
430,081
633,177
Creditors: Amounts falling due within one year
9
(109,309)
(88,762)
Net current assets
320,772
544,415
Total assets less current liabilities
1,306,579
1,392,595
Creditors: Amounts falling due after more than one year
10
(77,593)
(47,253)
Net assets attributable to members
1,228,986
1,345,342
Represented by:
Loans and other debts due to members
1,228,986
1,345,342
Members' other interests
1,228,986
1,345,342
These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
For the year ended 31 March 2024 the LLP 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) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the members have not delivered to the Registrar a copy of the LLP's profit and loss account.
Approved by the members on 18 March 2025 and signed on its behalf by:
D.R. Metson
R.G. Metson
E.V. Metson
Designated member
Designated member
Designated member
J.M. Metson
J.C. Pike
Designated member
Designated member
D R Metson & Partners LLP Notes to the Accounts Registrar
for the year ended 31 March 2024
1
General information
D R Metson & Partners LLP is a limited liability partnership and incorporated in England and Wales.
Its registered number is: OC436295
Its registered office is:
Pooty Pools Farm
Radley Green Road
Roxwell
Chelmsford
CM1 4NW
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and in accordance with the Statement of Recommended Practice 'Accounting for Limited Liability Partnerships' issued in December 2018.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Members' remuneration and division of profits
Profits are treated as being available for discretionary division only if the the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Once agreement has been reached to divide the profits, a members' share in the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses remain included within 'other reserves'.
Tangible fixed assets and depreciation
Tangible fixed assets held for the LLP's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the LLP reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Freehold buildings
10% straight line
Leasehold land and buildings
10% straight line
Plant and machinery
15-25% reducing balance
Motor vehicles
20% reducing balance
Furniture, fittings and equipment
15% reducing balance
Investments
Unlisted investments (except those held as subsidiaries, associates or joint ventures) are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present loacation and condition.
Trade and other debtors
Trade and other debtors are measured initially and subsequently, at the undiscounted amount of cash or other consideration expected to be received.
Trade and other creditors
Trade and other creditors are measured initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid.
Members' Interests
Members' interests are classified as either equity or debt.

Equity interests comprise any capital introduced classified as equity, any unallocated profits, any revaluation reserve and any other reserves.

Loans and other debts due to members comprise any capital introduced but classified as a liability, any loans from members, amounts due to members in respect of allocated profits less drawings and any other amounts that the LLP is contractually obliged to repay to members.
Leased assets
Where the LLP enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to the LLP are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the LLP at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the LLP's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Defined contribution pensions
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 payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the LLP in independently administered funds.
3
Information in relation to members
2024
2023
Number
Number
The average number of members during the year :
5
5
2024
2023
£
£
Automatic division of profits
37,269
203,246
37,269
203,246
4
Employees
2024
2023
Number
Number
The average number of persons employed during the year was:
2
2
5
Tangible fixed assets
Land and buildings
Plant and machinery
Motor vehicles
Fixtures, fittings and equipment
Total
£
£
£
£
£
Cost
At 1 April 2023
174,612133,01242,553648,561998,738
Additions
-2,99235,345347,219385,556
Disposals
--
(3,733)
(64,359)
(68,092)
At 31 March 2024
174,612136,00474,165931,4211,316,202
Depreciation
At 1 April 2023
24,34220,5088,52297,286150,658
Charge for the year
24,24117,84813,128125,120180,337
At 31 March 2024
48,58338,35621,650222,406330,995
Net book values
At 31 March 2024
126,02997,64852,515709,015985,207
At 31 March 2023
150,270
112,504
34,031
551,275
848,080
6
Investments
Other investments
Total
£
£
Cost or revaluation
At 1 April 2023
100100
Additions
500500
At 31 March 2024
600600
Provisions and impairment
Net book values
At 31 March 2024
600600
At 31 March 2023
100100
7
Stocks
2024
2023
£
£
Tillages
29,36974,583
Fuel
10,95013,502
Wheat
45,280
15,000
Oats
-
12,700
Hay and straw
1,3501,225
Fertilisers and sprays
32,074
59,990
119,023177,000
8
Debtors
2024
2023
£
£
Trade debtors
76,997223,165
Other debtors
49,79444,598
126,791267,763
9
Creditors:
amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
--
Obligations under finance lease and hire purchase contracts
50,61023,626
Trade creditors
32,30451,637
Other taxes and social security
26,39513,499
109,30988,762
10
Creditors:
amounts falling due after more than one year
2024
2023
£
£
Obligations under finance lease and hire purchase contracts
77,59347,253
77,59347,253
11
Loans and other debts due to members
2024
2023
£
£
Members' capital classified as a liability
1,191,717
1,142,096
Amounts due to members in respect of profits
37,269
203,246
1,228,986
1,345,342
Amounts falling due within one year
1,228,986
1,345,342
1,228,986
1,345,342
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