Registered No. SO302905 (Scotland)
D & J Warden (Farming) LLP
Unaudited accounts
for the year ended 31 March 2025
D & J Warden (Farming) LLP
LLP Information
for the year ended 31 March 2025
Designated members
Mr David Warden
Registered Number
SO302905 (Scotland)
Registered Office
North Mains of Dun
Montrose
Angus
DD10 9LW
Accountants
R Books Limited
16 Crookston Place
Peebles
Scottish Borders
EH45 9AL
D & J Warden (Farming) LLP
Statement of financial position
as at 31 March 2025
Tangible assets
986,735
991,562
Cash at bank and in hand
-
40,991
Creditors: amounts falling due within one year
(54,947)
(64,441)
Net current (liabilities)/assets
(24,244)
4,250
Total assets less current liabilities
962,491
995,812
Creditors: amounts falling due after more than one year
(619,088)
(650,444)
Net assets attributable to members
343,403
345,368
Loans and other debts due to members
146,786
148,751
Members' capital classified as equity
196,617
196,617
Loans and other debts due to members
146,786
148,751
Members' other interests
196,617
196,617
For the year ending 31 March 2025 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the members on 25 August 2025.
Mrs Jennifer Warden
Designated member
Limited Liability Partnership Registration No. SO302905
D & J Warden (Farming) LLP
Notes to the Accounts
for the year ended 31 March 2025
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
The accounts are presented in £ sterling.
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.
All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within 'Members' remuneration charged as an expense' in arriving at the relevant year's result. Undivided amounts that are classified as equity are shown within 'Members' other interests'. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members' interests.
Where there exists an asset and liability component in respect of an individual member's participation rights, they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts, and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented net.
Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as 'Loans and other debts due to members' to the extent they exceed debts due from a specific member.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
15% - Reducing balance
Plant & machinery
15% - Reducing balance
Motor vehicles
25% - Reducing balance
Fixtures & fittings
20% - Straight line
Computer equipment
20% - Straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
D & J Warden (Farming) LLP
Notes to the Accounts
for the year ended 31 March 2025
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'. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated over its estimated useful life or the term of the lease, whichever is shorter. Future installments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account, and the capital element which reduces the outstanding obligation for future installments.
All other leases are accounted for as 'operating leases' and the rental charges are charged to the profit and loss account on a straight line basis over the life of the lease.
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.
The LLP operates a defined contribution scheme for the benefit of its employees. Contributions are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.
D & J Warden (Farming) LLP is a limited liability partnership, incorporated in Scotland, registration number SO302905. Its registered office is North Mains of Dun, Montrose, Angus, DD10 9LW.
3
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 April 2024
904,185
217,011
25,000
88,786
1,660
1,236,642
Additions
-
20,500
-
-
-
20,500
Disposals
-
(6,235)
-
-
-
(6,235)
At 31 March 2025
904,185
231,276
25,000
88,786
1,660
1,250,907
At 1 April 2024
26,118
114,500
25,000
78,930
532
245,080
Charge for the year
1,040
16,549
-
6,124
190
23,903
On disposals
-
(4,811)
-
-
-
(4,811)
At 31 March 2025
27,158
126,238
25,000
85,054
722
264,172
At 31 March 2025
877,027
105,038
-
3,732
938
986,735
At 31 March 2024
878,067
102,511
-
9,856
1,128
991,562
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
33,692
39,638
D & J Warden (Farming) LLP
Notes to the Accounts
for the year ended 31 March 2025
4
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
34,566
29,017
Obligations under finance leases and hire purchase contracts
10,743
11,245
Trade creditors
4,190
17,442
Taxes and social security costs
161
541
Other creditors
1,434
1,833
5
Creditors: amounts falling due after more than one year
2025
2024
Bank loans
609,782
630,395
Obligations under finance leases and hire purchase contracts
9,306
20,049
Aggregate of amounts that fall due for payment after five years
474,518
493,187
Obligations under HP agreements are secured against the asset to which they relate.
The Agricultural Mortgage Corporation PLC holds a standard security over all and whole of the land owned by the LLP.
6
Loans and other debts due to members
2025
2024
Members' capital classified as a liability
218,244
204,975
Amounts due to members in respect of profits
(71,458)
(56,224)
Amounts falling due within one year
146,786
148,751
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
The loans are interest free and have no fixed terms of repayment.
7
Average number of employees
During the year the average number of employees was 8 (2024: 8).