West Woodhay Farms LLP - LLP accounts 24.3

REGISTERED NUMBER: OC416691 (England and Wales)

MEMBERS' REPORT AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

WEST WOODHAY FARMS LLP

Page

General Information

1

Members' Report

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

Mr H M Henderson

Trustees of HM Henderson Settlement No 1

REGISTERED OFFICE:

West Woodhay House

West Woodhay

Newbury

Berkshire

RG20 0BS

REGISTERED NUMBER:

OC416691 (England and Wales)

ACCOUNTANTS:

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

The members present their report with the financial statements of the LLP for the year ended 31st March 2025.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of farming and corporate events

DESIGNATED MEMBERS

The designated members during the year under review were:

Mr H M Henderson

Trustees of HM Henderson Settlement No 1

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The loss for the year before members' remuneration and profit shares was £563,434 (2024 - £5,196 loss).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

Mr H M Henderson - Designated member

29th October 2025

TURNOVER

583,460

428,470

Cost of sales

93,448

77,581

GROSS PROFIT

490,012

350,889

Administrative expenses

1,457,701

726,549

(967,689

)

(375,660

)

Other operating income

394,536

351,219

OPERATING LOSS

4

(573,153

)

(24,441

)

Profit/loss on disposal of tangible fixed
assets

5

2,857

24,549

(570,296

)

108

Interest receivable and similar income

19,724

9,100

(550,572

)

9,208

Interest payable and similar expenses

12,862

14,404

LOSS FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS

(563,434

)

(5,196

)

FIXED ASSETS

Tangible assets

6

1,504,066

2,872,081

Investments

7

15

Investment property

8

1,250,000

-

2,754,081

2,872,096

CURRENT ASSETS

Stocks

210,262

139,227

Debtors

9

142,270

141,547

Cash at bank

1,158,368

63,854

1,510,900

344,628

CREDITORS

Amounts falling due within one year

10

847,706

438,298

NET CURRENT ASSETS/(LIABILITIES)

663,194

(93,670

)

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO
MEMBERS

3,417,275

2,778,426

LOANS AND OTHER DEBTS DUE TO
MEMBERS

11

2,399,717

2,778,426

MEMBERS' OTHER INTERESTS

Capital accounts

1,017,558

-

3,417,275

2,778,426

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

11

2,399,717

2,778,426

Members' other interests

1,017,558

-

3,417,275

2,778,426

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 31st 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 in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

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

Mr H M Henderson - Designated member

Trustees of HM Henderson Settlement No 1 - Designated member

1.	STATUTORY INFORMATION

West Woodhay Farms 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. 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 each asset over its estimated useful life.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

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'.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 8 (2024 - 8 ) .

4.	OPERATING LOSS

The operating loss is stated after charging:

2025

2024

£

Depreciation - owned assets

65,846

80,031

5.	EXCEPTIONAL ITEMS

2025

2024

£

Profit/loss on disposal of tangible fixed assets

2,857

24,549

6.	TANGIBLE FIXED ASSETS

Freehold

Solar

Plant and

property

panels

machinery

£

COST

At 1st April 2024

2,544,734

99,586

598,647

Additions

123,613

-

11,623

Disposals

-

(11,600

)

Reclassification/transfer

(1,446,161

)

-

At 31st March 2025

1,222,186

99,586

598,670

DEPRECIATION

At 1st April 2024

-

4,979

431,147

Charge for year

-

4,979

44,279

Eliminated on disposal

-

(7,707

)

At 31st March 2025

-

9,958

467,719

NET BOOK VALUE

At 31st March 2025

1,222,186

89,628

130,951

At 31st March 2024

2,544,734

94,607

167,500

Grain

Motor

Computer

Dryer

vehicles

equipment

Totals

£

COST

At 1st April 2024

93,955

25,495

30,869

3,393,286

Additions

-

11,500

1,149

147,885

Disposals

-

(11,600

)

Reclassification/transfer

-

(1,446,161

)

At 31st March 2025

93,955

36,995

32,018

2,083,410

DEPRECIATION

At 1st April 2024

53,623

9,610

21,846

521,205

Charge for year

9,396

5,408

1,784

65,846

Eliminated on disposal

-

(7,707

)

At 31st March 2025

63,019

15,018

23,630

579,344

NET BOOK VALUE

At 31st March 2025

30,936

21,977

8,388

1,504,066

At 31st March 2024

40,332

15,885

9,023

2,872,081

7.	INVESTMENTS

Other

investments

£

COST

At 1st April 2024

and 31st March 2025

15

NET BOOK VALUE

At 31st March 2025

15

At 31st March 2024

15

8.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Impairments

(777,745

)

Reclassification/transfer

2,027,745

At 31st March 2025

1,250,000

NET BOOK VALUE

At 31st March 2025

1,250,000

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

91,930

89,352

Other debtors

50,340

52,195

142,270

141,547

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

213,751

242,774

Trade creditors

85,291

120,140

Taxation and social security

5,132

5,040

Other creditors

543,532

70,344

847,706

438,298

11.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2025

2024

£

Amounts owed to members in respect of profits

2,399,717

2,778,426

Falling due within one year

2,399,717

2,778,426

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