Northbourne Farming Partnership LLP

	Page
Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—5

Registered number: OC380716

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		-		87
Tangible Assets	5		4,574,897		4,325,926

			4,574,897		4,326,013
CURRENT ASSETS
Stocks	6	409,418		438,680
Debtors	7	3,321,495		3,219,634
Cash at bank and in hand		186,581		131,612

		3,917,494		3,789,926
Creditors: Amounts Falling Due Within One Year	8	(566,433 )		(327,386 )

NET CURRENT ASSETS (LIABILITIES)			3,351,061		3,462,540

TOTAL ASSETS LESS CURRENT LIABILITIES			7,925,958		7,788,553

Creditors: Amounts Falling Due After More Than One Year	9		(4,152,216 )		(4,012,411 )

NET ASSETS ATTRIBUTABLE TO MEMBERS			3,773,742		3,776,142

REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts		126,970		129,370

			126,970		129,370

Equity
Members' other interests
Members' capital		3,646,772		3,646,772

			3,646,772		3,646,772

			3,773,742		3,776,142

TOTAL MEMBERS' INTEREST
Amounts due from members			(3,088,334)		(2,914,209)
Loans and other debts due to members within one year			126,970		129,370
Members' other interests			3,646,772		3,646,772

			685,408		861,933

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Northbourne Farming Partnership LLP

Balance Sheet (continued)

As At 31 March 2025

For the 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 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (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 LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

All of the LLP's members have consented to the preparation of an Abridged Profit and Loss Account for the year end 31 March 2025 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the members

Lord C W Northbourne

Designated Member

15/12/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Northbourne Farming Partnership LLP is a limited liability partnership, incorporated in England & Wales, registered number OC380716 . The Registered Office is Northbourne Court, Northbourne, Deal, Kent, CT14 0LW.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - 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' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Basic payment entitlements are being amortised over the estimated useful life of four years

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	10% on cost
Plant & Machinery	20% on cost

Improvements to farm freehold property are depreciated at 2.5% on cost

2.5. Stocks and Work in Progress

Stocks are valued in accordance with the Inland Revenue Guidance Notes, BEN 19, amended in accordance with ICAEW guidance on Basic Payment treatment for accounting purposes.

Consumable stores of seeds, fertilisers, chemicals and sundry stores are valued at invoice price or market value if lower.

Crops in store have been valued on a deemed cost basis, which has been calculated at 75% of market value.

The value of homesaved seed has been based on the market value of the grain plus the cost of cleaning, dressing and royalties.

Arable operations are undertaken by a joint venture farming partnership, JS Crop Management Ltd.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: 1 (2024: 2)

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Northbourne Farming Partnership LLP

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 March 2025

4. Intangible Assets

	Other
	£
Cost
As at 1 April 2024	232,606
Disposals	(232,606 )

As at 31 March 2025	-

Amortisation
As at 1 April 2024	232,519
Provided during the period	87
Disposals	(232,606 )

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	87

5. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Total
	£	£	£
Cost
As at 1 April 2024	4,993,731	138,083	5,131,814
Additions	276,833	-	276,833

As at 31 March 2025	5,270,564	138,083	5,408,647

Depreciation
As at 1 April 2024	667,805	138,083	805,888
Provided during the period	27,862	-	27,862

As at 31 March 2025	695,667	138,083	833,750

Net Book Value
As at 31 March 2025	4,574,897	-	4,574,897

As at 1 April 2024	4,325,926	-	4,325,926

6. Stocks

	2025	2024
	£	£
Stock	409,418	438,680

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Northbourne Farming Partnership LLP

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 March 2025

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	60,366	145,257
Other debtors	3,261,129	3,074,377

	3,321,495	3,219,634

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	507,278	264,886
Bank loans and overdrafts	10,000	10,000
Other creditors	48,854	52,500
Taxation and social security	301	-

	566,433	327,386

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	4,152,216	4,012,411

10. Secured Creditors

The following secured debts are included within creditors :

AMC loan of £1,600,000 interest only fixed at 3.82% for 30 years until 27th October 2046. Secured on 827 acres of arable land owned by Betteshanger Farms Ltd who is a Partner in Northbourne Farming Partnership LLP.

AMC loan with a facility of £1,500,000 drawn to £500,000 as at 31 March 2017. Secured on the 827 acres of land owned by Betteshanger Farms Ltd as identified above. The interest rate is variable and is 2.4% above the Bank of England base rate.

Weatherby's loan of £2,050,000 for 5 years. This is an interest only mortgage repayable in October 2029. The interest rate is 1.79% per annum above the Base Rate. The loan is secured against freehold properties and the land owned by the 1986 Northbourne Court Settlement, who is a Partner in Northbourne Farming Partnership LLP.

AMC loans totalling to £1,900,000 have been redeemed during this financial year.

	2025		2024
	£		£
Bank loans and overdrafts	4,150,000		4,000,000

11. Loans and Other Debts due to Members

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up. There is no provision for specific legally enforceable protection afforded to creditors in such an event. There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' other interests'.

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