A G Murdoch & Sons LLP Filleted accounts for Companies House (small and micro)

REGISTERED NUMBER: OC367073

A G Murdoch & Sons LLP

Filleted Unaudited Financial Statements

31 March 2025

A G Murdoch & Sons LLP

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Intangible assets	4	943	1,321
Tangible assets	5	633,169	588,773
		---------	---------
		634,112	590,094

Current assets

Stocks		137,653	94,894
Debtors	6	16,661	26,561
		---------	---------
		154,314	121,455

Creditors: amounts falling due within one year	7	185,424		173,526
		---------		---------
Net current liabilities			31,110	52,071
			---------	---------
Total assets less current liabilities			603,002	538,023

Creditors: amounts falling due after more than one year	8	18,859	12,500
		---------	---------
Net assets		584,143	525,523
		---------	---------

Represented by:

Loans and other debts due to members

Other amounts	9	584,143	525,523
		---------	---------

Members' other interests

Other reserves	–	–
	---------	---------
	584,143	525,523
	---------	---------

Total members' interests

Loans and other debts due to members	9	584,143	525,523
Members' other interests		–	–
		---------	---------
		584,143	525,523
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.

A G Murdoch & Sons LLP

Statement of Financial Position (continued)

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) relating to small LLPs.

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 financial statements .

These financial statements were approved by the members and authorised for issue on 18 December 2025 , and are signed on their behalf by:

J R Murdoch

Designated Member

Registered number: OC367073

A G Murdoch & Sons LLP

Notes to the Financial Statements

Year ended 31 March 2025

1.	General information

The LLP is registered in England and Wales. The address of the registered office is Duck Lane Farm, Southill Road, Cardington, Beds, MK44 3SX.

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 December 2021 (SORP 2021).

3.	Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Revenue recognition

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

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'.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Basic Payment Entitlements	-	12% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

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

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold Property	-	5% straight line
Implements	-	25% reducing balance
Motor Vehicles	-	25% reducing balance
Tractors	-	25% reducing balance

Stocks

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 finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4.	Intangible assets

	Basic Payment Entitlements
	£
Cost
At 1 April 2024 and 31 March 2025	3,019
	-------
Amortisation
At 1 April 2024	1,698
Charge for the year	378
	-------
At 31 March 2025	2,076
	-------
Carrying amount
At 31 March 2025	943
	-------
At 31 March 2024	1,321
	-------

5.	Tangible assets

	Land and buildings	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	554,179	80,019	62,140	76,887	773,225
Additions	–	–	63,983	–	63,983
Disposals	–	–	( 43,454)	–	( 43,454)
	---------	--------	--------	--------	---------
At 31 March 2025	554,179	80,019	82,669	76,887	793,754
	---------	--------	--------	--------	---------
Depreciation
At 1 April 2024	2,607	64,772	51,528	65,545	184,452
Charge for the year	209	3,806	5,950	2,836	12,801
Disposals	–	–	( 36,668)	–	( 36,668)
	---------	--------	--------	--------	---------
At 31 March 2025	2,816	68,578	20,810	68,381	160,585
	---------	--------	--------	--------	---------
Carrying amount
At 31 March 2025	551,363	11,441	61,859	8,506	633,169
	---------	--------	--------	--------	---------
At 31 March 2024	551,572	15,247	10,612	11,342	588,773
	---------	--------	--------	--------	---------

6.	Debtors

	2025	2024
	£	£
Trade debtors	210	8,169
Other debtors	16,451	18,392
	--------	--------
	16,661	26,561
	--------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	145,029	131,059
Trade creditors	26,552	33,338
Other creditors	13,843	9,129
	---------	---------
	185,424	173,526
	---------	---------

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	3,276	12,500
Other creditors	15,583	–
	--------	--------
	18,859	12,500
	--------	--------

9.	Loans and other debts due to members

	2025	2024
	£	£
Amounts owed to members in respect of profits	584,143	525,523
	---------	---------