Registration number: OC376329

Contents

Limited liability partnership information	1
Financial Statements	2 to 8
Balance Sheet	2
Notes to the Financial Statements	4

Limited liability partnership information

Designated members

Mr GT Ireland G.T. & A. Ireland Limited

Registered office

Stafford House 10 Prince Of Wales Road Dorchester Dorset DT1 1PW

Principal place of business

Bere Down Farm Bere Regis Wareham Dorset BH20 7JG

Solicitors

Blanchards Bailey LLP Bunbury House Stour Park Blandford Forum Dorset DT4 9LQ

Accountants

Kennedy Legg Stafford House 10 Prince Of Wales Road DORCHESTER DT1 1PW

(Registration number: OC376329)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	887,500	958,500
Tangible assets	5	572,159	577,546
Investments	6	929,956	-
		2,389,615	1,536,046
Current assets
Stocks	7	200,143	78,485
Debtors	8	363,591	354,017
Cash and short-term deposits		54,039	1,029,381
		617,773	1,461,883
Creditors: Amounts falling due within one year	9	(203,733)	(202,196)
Net current assets		414,040	1,259,687
Net assets attributable to members		2,803,655	2,795,733
Represented by:
Loans and other debts due to members
Members' capital classified as a liability		2,803,655	2,795,733
		2,803,655	2,795,733
Total members' interests
Loans and other debts due to members		2,803,655	2,795,733
		2,803,655	2,795,733

For the year ending 31 December 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

(Registration number: OC376329)
Balance Sheet as at 31 December 2024

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of G.T. Ireland (Bere Down Farms) LLP (registered number OC376329) were approved by the Board and authorised for issue on 30 September 2025. They were signed on behalf of the limited liability partnership by:

......................................... Mr GT Ireland Designated member

Notes to the Financial Statements for the Year Ended 31 December 2024

1	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 105 - 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

General information and basis of accounting

The limited liability partnership is incorporated in England & Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of G.T. Ireland (Bere Down Farms) LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements.

other taxes policy

Intangible assets

Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.

Tangible fixed assets

Individual fixed assets costing £500 or more are initially recorded at cost.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Notes to the Financial Statements for the Year Ended 31 December 2024

Asset class	Amortisation method and rate
Farm tenancy	25 years straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Farm land and buildings	Nil
Leasehold property improvements	10% straight line
Motor vehicles	25% reducing balance
Farm machinery	15% reducing balance
Tractors	25% reducing balance

Stock

Biological assets, living plants and animals are valued at the lower of cost and estimated selling price less costs to sell.

Other stocks have also been valued at the lower of cost and estimated selling price less costs to sell.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

Notes to the Financial Statements for the Year Ended 31 December 2024

2	Profit for the year before members' remuneration and profit shares

Arrived at after charging/(crediting)

	2024 £	2023 £
Depreciation	17,148	26,961
Amortisation	71,000	71,000

3	Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 1 (2023 - 1).

4	Intangible fixed assets

	Farm tenancy £	Total £
Cost
At 1 January 2024	1,775,000	1,775,000
At 31 December 2024	1,775,000	1,775,000
Amortisation
At 1 January 2024	816,500	816,500
Charge for the year	71,000	71,000
At 31 December 2024	887,500	887,500
Net book value
At 31 December 2024	887,500	887,500
At 31 December 2023	958,500	958,500

Notes to the Financial Statements for the Year Ended 31 December 2024

5	Tangible fixed assets

	Freehold land and buildings £	Long leasehold land and buildings £	Plant and machinery £	Tractors £
Cost
At 1 January 2024	492,000	47,807	407,804	97,600
Additions	-	-	958	3,803
At 31 December 2024	492,000	47,807	408,762	101,403
Depreciation
At 1 January 2024	-	33,567	380,768	62,614
Charge for the year	-	1,424	4,199	8,747
At 31 December 2024	-	34,991	384,967	71,361
Net book value
At 31 December 2024	492,000	12,816	23,795	30,042
At 31 December 2023	492,000	14,240	27,036	34,986

	Motor vehicles £	Total £
Cost
At 1 January 2024	89,739	1,134,950
Additions	7,000	11,761
At 31 December 2024	96,739	1,146,711
Depreciation
At 1 January 2024	80,455	557,404
Charge for the year	2,778	17,148
At 31 December 2024	83,233	574,552
Net book value
At 31 December 2024	13,506	572,159
At 31 December 2023	9,284	577,546

6	Investments held as fixed assets

	2024 £
Other investments	929,956

Notes to the Financial Statements for the Year Ended 31 December 2024

Other investments

	Listed investments £	Total £
Cost
Additions	929,956	929,956
At 31 December 2024	929,956	929,956
Net book value
At 31 December 2024	929,956	929,956

7

Stocks

	2024  £	2023  £
Crops and tillages	200,143	76,385
Fuel and spares	-	2,100
	200,143	78,485

8

Debtors

	2024 £	2023 £
Trade debtors	14,392	26,988
Other debtors	335,987	327,029
Prepayments and accrued income	13,212	-
Total current trade and other debtors	363,591	354,017

9	Creditors: Amounts falling due within one year

	2024 £	2023 £
Trade creditors	161,883	160,946
Accruals and deferred income	41,850	41,250
	203,733	202,196

Loans and other debts due to members

Loans and other debts due to members are unsecured and would rank pari passu with other unsecured creditors in the event of a winding up.

10

Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.