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Company No: OC401515 (England and Wales)

BUFFS OLD BARN LLP

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

BUFFS OLD BARN LLP

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

BUFFS OLD BARN LLP

LIMITED LIABILITY PARTNERSHIP INFORMATION

For the financial year ended 31 March 2025
BUFFS OLD BARN LLP

LIMITED LIABILITY PARTNERSHIP INFORMATION (continued)

For the financial year ended 31 March 2025
DESIGNATED MEMBERS Anne Elizabeth Wright
Jeannie Ethel May Wright
MEMBER The Trustees Of The Wright Discretionary Trust 2015
REGISTERED OFFICE Woodside Farm Church Road
Friston
Saxmundham
IP17 1PU
United Kingdom
REGISTERED NUMBER OC401515 (England and Wales)
CHARTERED ACCOUNTANTS Gascoynes
Gascoyne House
Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY
BUFFS OLD BARN LLP

BALANCE SHEET

As at 31 March 2025
BUFFS OLD BARN LLP

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 212,987 214,581
212,987 214,581
Current assets
Debtors 4 56,302 18,144
Cash at bank and in hand 5 9,925 52,388
66,227 70,532
Creditors: amounts falling due within one year 6 ( 1,319) ( 1,260)
Net current assets 64,908 69,272
Total assets less current liabilities 277,895 283,853
Net assets attributable to members 277,895 283,853
Represented by
Loans and other debts due to members within one year
Other amounts 73,697 63,814
73,697 63,814
Members' other interests
Members' capital classified as equity 210,000 210,000
Other reserves (5,802) 10,039
204,198 220,039
277,895 283,853
Total members' interests
Loans and other debts due to members 73,697 63,814
Members' other interests 204,198 220,039
277,895 283,853

For the financial year ending 31 March 2025 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.

Members' responsibilities:

The financial statements of Buffs Old Barn LLP (registered number: OC401515) were approved and authorised for issue by the Board of Directors on 10 June 2025. They were signed on its behalf by:

Jeannie Ethel May Wright
Designated member
BUFFS OLD BARN LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
BUFFS OLD BARN LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Buffs Old Barn LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Woodside Farm Church Road, Friston, Saxmundham, IP17 1PU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Investment property 3 years straight line
Plant and machinery 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the LLP during the year 0 0

3. Tangible assets

Investment property Plant and machinery Total
£ £ £
Cost
At 01 April 2024 217,469 1,007 218,476
At 31 March 2025 217,469 1,007 218,476
Accumulated depreciation
At 01 April 2024 3,102 793 3,895
Charge for the financial year 1,541 53 1,594
At 31 March 2025 4,643 846 5,489
Net book value
At 31 March 2025 212,826 161 212,987
At 31 March 2024 214,367 214 214,581

4. Debtors

2025 2024
£ £
Other debtors 56,302 18,144

5. Cash and cash equivalents

2025 2024
£ £
Cash at bank and in hand 9,925 52,388

6. Creditors: amounts falling due within one year

2025 2024
£ £
Other creditors 1,319 1,260