Cranmer Farm LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC342178 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Cranmer Farm LLP

Page

General Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Designated members:

Mrs L Johnson

Mr J P Johnson

Mrs H Wright

Registered office:

10 Oak Street

Fakenham

Norfolk

NR21 9DY

Registered number:

OC342178 (England and Wales)

Accountants:

Stephenson Smart (East Anglia) Limited

10 Oak Street

Fakenham

Norfolk

NR21 9DY

Fixed assets

Tangible assets

5

1,048,238

Current assets

Cash at bank

18,166

26,727

Creditors

Amounts falling due within one year

6

(51,950

)

(34,706

)

Net current liabilities

(33,784

)

(7,979

)

Total assets less current liabilities

1,014,454

1,040,259

Creditors

Amounts falling due after more than one
year

7

(363,319

)

(381,226

)

Net assets attributable to members

651,135

659,033

Loans and other debts due to members

8

231,135

239,033

Members' other interests

Capital accounts

420,000

651,135

659,033

Total members' interests

Loans and other debts due to members

8

231,135

239,033

Members' other interests

420,000

651,135

659,033

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 29 October 2025 and were signed by:

Mr J P Johnson - Designated member

1.	Statutory information

Cranmer Farm LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2.	Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

Straight line over 15 years

Financial instruments

The company classifies its financial instruments in the following categories: measured at amortised cost; and measured at fair value through profit and loss. The classification is determined at initial recognition and depends on the purpose for which the financial instruments are required.

Measured at amortised cost includes non-derivative financial assets and liabilities with fixed or determinable payments that are not quoted in an active market. Financial assets are included in current assets, except where the maturity date is more than 12 months after the end of the reporting period. They are initially recorded at fair value and subsequently recorded at amortised cost. Financial liabilities are included in current liabilities, except where the maturity date is more than 12 months after the end of the reporting period. They are initially measured at original cost, less amortisation or provisions raised.

Measured at fair value through profit and loss includes financial assets and liabilities. They are classified according to maturity date, within current and non-current assets and liabilities respectively.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Members participation rights

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, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland',

and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability

Partnerships'. A member's participation right results in a liability unless the right to any payment is

discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are

classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP

does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional

right to refuse payment, the amounts arising that are due to members are in the nature of

liabilities. They are therefore treated as an expense in the statement of comprehensive income in

the relevant year. To the extent that they remain unpaid at the year end, they are shown as

liabilities in the statement of financial position.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that

the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation

of equity rather than as an expense. They are therefore shown as a residual amount available for

discretionary division among members in the statement of comprehensive income and are equity

appropriations in the statement of financial position.

Other amounts applied to members, for example remuneration paid under an employment

contract and interest on capital balances, are treated in the same way as all other divisions of

profits, as described above, according to whether the LLP has, in each case, an unconditional

right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the statement of

financial position within 'Loans and other debts due to members' and are charged to the statement

of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due

to members that are classified as equity are shown in the statement of financial position within

'Members' other interests'.

4.	Employee information

The average number of employees during the year was 3 (2024 - 3 ) .

5.	Tangible fixed assets

Freehold

Plant and

property

machinery

Totals

£

Cost

At 1 April 2024

and 31 March 2025

1,048,238

36,807

1,085,045

Depreciation

At 1 April 2024

and 31 March 2025

-

36,807

Net book value

At 31 March 2025

1,048,238

-

1,048,238

At 31 March 2024

1,048,238

-

1,048,238

6.

Creditors: amounts falling due within one year

31.3.25

31.3.24

£

Bank loans and overdrafts

16,929

15,952

Accruals and deferred income

35,021

18,754

51,950

34,706

Included within creditors due within one year £16,929 (2024:£15,952) is secured against the assets of the partnership.

7.

Creditors: amounts falling due after more than one year

31.3.25

31.3.24

£

Bank loans Over 1 Year

246,119

264,026

Other creditors

117,200

363,319

381,226

Included within creditors due after one year £246,119 (2024: £264,026) is secured against the assets of the partnership

8.

Loans and other debts due to members

2025

2024

£

Amounts owed to members in respect of profits

245,728

239,033