REGISTERED NUMBER: OC377164 (England and Wales)

AJ Hazard Farms LLP

Unaudited Financial Statements

for the Year Ended 30 April 2025

Page

General information

1

Chartered accountants' report

2

Statement of financial position

3

to

4

Notes to the financial statements

5

to

9

Designated members:

Mr S J Hazard

Mrs S Hazard

Registered office:

Garthorpe Lodge

Wymondham

Melton Mowbray

Leicestershire

LE14 2BS

Registered number:

OC377164 (England and Wales)

Accountants:

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the members are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of AJ Hazard Farms LLP for the year ended 30 April 2025 which comprise the Income statement, Statement of financial position, Reconciliation of members' interests and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of AJ Hazard Farms LLP, as a body, in accordance with the terms of our engagement letter dated 8 October 2019. Our work has been undertaken solely to prepare for your approval the financial statements of AJ Hazard Farms LLP and state those matters that we have agreed to state to the members of AJ Hazard Farms LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AJ Hazard Farms LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that AJ Hazard Farms LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of AJ Hazard Farms LLP. You consider that AJ Hazard Farms LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of AJ Hazard Farms LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

16 December 2025

Fixed assets

Tangible assets

5

411,253

448,141

Current assets

Stocks

281,052

314,400

Debtors

6

160,229

117,641

441,281

432,041

Creditors

Amounts falling due within one year

7

687,398

597,685

Net current liabilities

(246,117

)

(165,644

)

Total assets less current liabilities

165,136

282,497

Creditors

Amounts falling due after more than one year

8

46,962

52,594

Net assets attributable to members

118,174

229,903

Loans and other debts due to members

9

118,174

229,903

Total members' interests

Loans and other debts due to members

9

118,174

229,903

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 30 April 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 2 December 2025 and were signed by:

Mr S J Hazard - Designated member

1.	Statutory information

AJ Hazard 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Statement of compliance

These financial statements have been prepared in compliance with Section 1A 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' issued in January 2022 (SORP 2022).

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared on the historical cost basis.

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

Farm support income

Monies received and receivable from the Rural Payments Agency in respect of the Business Payment Scheme and the Environmental Stewardship Scheme are recognised as other operating income in the period to which they relate.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Depreciation

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

Freehold property

-

not depreciated

Leasehold property

-

5% on a straight line basis

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

20% on reducing balance

Office equipment

-

25% on reducing balance

Stock

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the trading and profit and loss account on a straight line basis.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

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 NIL (2024 - NIL).

5.	Tangible fixed assets

Freehold

Leasehold

Plant and

property

property

machinery

£

£

£

Cost

At 1 May 2024

295,665

145,893

5,008

Disposals

-

-

-

At 30 April 2025

295,665

145,893

5,008

Depreciation

At 1 May 2024

-

71,595

4,585

Charge for year

-

7,195

106

Eliminated on disposal

-

-

-

At 30 April 2025

-

78,790

4,691

Net book value

At 30 April 2025

295,665

67,103

317

At 30 April 2024

295,665

74,298

423

Motor

Office

vehicles

equipment

Totals

£

£

£

Cost

At 1 May 2024

120,719

6,506

573,791

Disposals

(47,299

)

-

(47,299

)

At 30 April 2025

73,420

6,506

526,492

Depreciation

At 1 May 2024

44,536

4,934

125,650

Charge for year

11,747

393

19,441

Eliminated on disposal

(29,852

)

-

(29,852

)

At 30 April 2025

26,431

5,327

115,239

Net book value

At 30 April 2025

46,989

1,179

411,253

At 30 April 2024

76,183

1,572

448,141

6.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

18,935

21,296

Amounts owed by participating interests

-

9,500

VAT

23,001

-

Prepayments and accrued income

118,293

86,845

160,229

117,641

7.

Creditors: amounts falling due within one year

2025

2024

£

£

Bank loans and overdrafts

499,937

427,444

Trade creditors

41,254

35,063

Amounts owed to participating interests

68,130

78,872

VAT

-

6,442

Other creditors

68,832

38,753

Accruals and deferred income

9,245

11,111

687,398

597,685

Included above and below are amounts due in respect of bank loans and overdrafts which are secured by way of fixed and floating charges over the LLP's property and business undertakings. Also included above and below are amounts due in respect of hire purchase agreements which are secured against the asset financed.

8.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Bank loans and overdrafts

46,962

52,594

Included within creditors amounts falling due after more than one year is £46,962 (2024: £526,594) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

9.

Loans and other debts due to members

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