Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-312025-05-2832023-10-27falseNo description of principal activity13truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC449693 2023-10-26 OC449693 2023-10-27 2024-03-31 OC449693 2022-04-01 2023-10-26 OC449693 2024-03-31 OC449693 c:Buildings 2023-10-27 2024-03-31 OC449693 c:Buildings 2024-03-31 OC449693 c:Buildings c:OwnedOrFreeholdAssets 2023-10-27 2024-03-31 OC449693 c:Buildings c:LongLeaseholdAssets 2023-10-27 2024-03-31 OC449693 c:Buildings c:LongLeaseholdAssets 2024-03-31 OC449693 c:PlantMachinery 2023-10-27 2024-03-31 OC449693 c:PlantMachinery 2024-03-31 OC449693 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-10-27 2024-03-31 OC449693 c:MotorVehicles 2023-10-27 2024-03-31 OC449693 c:MotorVehicles 2024-03-31 OC449693 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-10-27 2024-03-31 OC449693 c:OtherPropertyPlantEquipment 2023-10-27 2024-03-31 OC449693 c:OtherPropertyPlantEquipment 2024-03-31 OC449693 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2023-10-27 2024-03-31 OC449693 c:OwnedOrFreeholdAssets 2023-10-27 2024-03-31 OC449693 c:PatentsTrademarksLicencesConcessionsSimilar 2023-10-27 2024-03-31 OC449693 c:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 OC449693 c:CurrentFinancialInstruments 2024-03-31 OC449693 c:Non-currentFinancialInstruments 2024-03-31 OC449693 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC449693 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 OC449693 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2024-03-31 OC449693 d:FRS102 2023-10-27 2024-03-31 OC449693 d:AuditExempt-NoAccountantsReport 2023-10-27 2024-03-31 OC449693 d:FullAccounts 2023-10-27 2024-03-31 OC449693 d:LimitedLiabilityPartnershipLLP 2023-10-27 2024-03-31 OC449693 c:HirePurchaseContracts c:WithinOneYear 2024-03-31 OC449693 c:HirePurchaseContracts c:BetweenOneFiveYears 2024-03-31 OC449693 c:PatentsTrademarksLicencesConcessionsSimilar c:ExternallyAcquiredIntangibleAssets 2023-10-27 2024-03-31 OC449693 d:PartnerLLP1 2023-10-27 2024-03-31 OC449693 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC449693 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC449693 e:PoundSterling 2023-10-27 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC449693









LOWER STANWAY FARM LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
LOWER STANWAY FARM LLP
REGISTERED NUMBER: OC449693

BALANCE SHEET
AS AT 31 MARCH 2024

31 March
2024
                                                                     Note
£

FIXED ASSETS
  

Tangible assets
 5 
4,363,165

  
4,363,165

CURRENT ASSETS
  

Stocks
 6 
427,669

Debtors: amounts falling due within one year
 7 
156,109

  
583,778

Creditors: Amounts Falling Due Within One Year
 8 
(902,996)

NET CURRENT (LIABILITIES)/ASSETS
  
 
 
(319,218)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
4,043,947

Creditors: amounts falling due after more than one year
 9 
(1,237,000)

  
2,806,947

  

NET ASSETS
  
2,806,947

Page 1

 
LOWER STANWAY FARM LLP
REGISTERED NUMBER: OC449693
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

31 March
2024
                                                                     Note
£

REPRESENTED BY:
  

LOANS AND OTHER DEBTS DUE TO MEMBERS WITHIN ONE YEAR
  

Other amounts
 12 
(1,256,116)

  
(1,256,116)

MEMBERS' OTHER INTERESTS
  

Members' capital classified as equity
  
4,063,063

  
 
4,063,063

  
2,806,947


TOTAL MEMBERS' INTERESTS
  

Loans and other debts due to members
 12 
(1,256,116)

Members' other interests
  
4,063,063

  
2,806,947


Page 2

 
LOWER STANWAY FARM LLP
REGISTERED NUMBER: OC449693
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 profit and loss account 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 J G Y Radcliffe
Designated member

Date: 28 May 2025

The notes on pages 4 to 12 form part of these financial statements.

Lower Stanway Farm LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.

Page 3

 
LOWER STANWAY FARM LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


GENERAL INFORMATION

Lower Stanway Farm LLP (number OC449693), is a limited liability partnership, incorporated in England and Wales, with its registered office at Lower Stanway Farm Shipton, Much Wenlock, Shrewsbury, Shropshire, TF13 6LD and principal place of business at Lower Stanway Farm, Much Wenlock, Shrewsbury, Shropshire, TF13 6LD.

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.

 
2.2

GOING CONCERN

After making enquiries, the Members of the LLP have reasonable expectations the LLP has adequate reserves to continue to trade for the foreseeable future. Therefore, the LLP continues to adopt the going concern basis in preparing the Accounts.
Page 4

 
LOWER STANWAY FARM LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the LLP has transferred the significant risks and rewards of ownership to the buyer;
the LLP retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

 
2.4

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.

 
2.5

BORROWING COSTS

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

Page 5

 
LOWER STANWAY FARM LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

PENSIONS

Defined contribution pension plan

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 payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the LLP in independently administered funds.

 
2.7

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 discretionarily. Discretionary divisions of profits are recognised as amounts due to members, although may be used to offset amounts which have been drawn by members, which are recognised as loan assets repayable.

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.

 
2.8

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

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.

Page 6

 
LOWER STANWAY FARM LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.9
TANGIBLE FIXED ASSETS (continued)

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.

Depreciation is provided on the following basis:

Freehold property
-
not depreciated
Property improvements
-
not depreciated
Implements
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Tractors
-
25%
reducing balance

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 profit or loss.

 
2.10

STOCKS

Farming stocks are valued in accordance with the HM Revenue & Customs help sheet HS232. 

 
2.11

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.

 
2.12

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 7

 
LOWER STANWAY FARM LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

3.


EMPLOYEES

The average monthly number of employees, including directors, during the Period was 3.


4.


INTANGIBLE ASSETS




Patents

£





Additions
43,854


Disposals
(43,854)



At 31 March 2024

-






Net book value



At 31 March 2024
-




5.


TANGIBLE FIXED ASSETS







Freehold property
Property improvem't
Plant and machinery
Motor vehicles
Tractors
Total

£
£
£
£
£
£



Cost or valuation


Additions
4,063,063
120,132
93,405
48,802
100,878
4,426,280


Disposals
-
-
-
(3,116)
-
(3,116)



At 31 March 2024

4,063,063
120,132
93,405
45,686
100,878
4,423,164



Depreciation


Charge for the Period on owned assets
-
-
23,357
11,421
25,221
59,999



At 31 March 2024

-
-
23,357
11,421
25,221
59,999



Net book value



At 31 March 2024
4,063,063
120,132
70,048
34,265
75,657
4,363,165

Page 8

 
LOWER STANWAY FARM LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

6.


STOCKS

31 March
2024
£

Farming stock
427,669

427,669


Page 9

 
LOWER STANWAY FARM LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

7.


DEBTORS

31 March
2024
£


Trade debtors
1,931

Other debtors
18,682

Prepayments and accrued income
135,496

156,109



8.


CREDITORS: Amounts falling due within one year

31 March
2024
£

Bank overdrafts
808,685

Trade creditors
55,696

Obligations under finance lease and hire purchase contracts
29,700

Accruals and deferred income
8,915

902,996



9.


CREDITORS: Amounts falling due after more than one year

31 March
2024
£

Bank loans
1,200,000

Net obligations under finance leases and hire purchase contracts
37,000

1,237,000


Page 10

 
LOWER STANWAY FARM LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

10.


LOANS


Analysis of the maturity of loans is given below:


31 March
2024
£

Amounts falling due after more than 5 years

Bank loans
1,200,000

1,200,000



11.


HIRE PURCHASE AND FINANCE LEASES


Minimum lease payments under hire purchase fall due as follows:

31 March
2024
£


Within one year
29,700

Between 1-5 years
37,000

66,700

Page 11

 
LOWER STANWAY FARM LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

12.


LOANS AND OTHER DEBTS DUE TO MEMBERS


31 March
2024
£



Other amounts due to members
(1,256,116)

(1,256,116)

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

31 March
2024
£



Falling due within one year
(1,256,116)

(1,256,116)

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

 
Page 12