The Winery At Thurston Place LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC424473 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

The Winery At Thurston Place LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

M Rhodes

Mrs I Rhodes

REGISTERED OFFICE:

Thurston Place Beyton Road

Thurston

Bury St. Edmunds

Suffolk

IP31 3QZ

REGISTERED NUMBER:

OC424473 (England and Wales)

ACCOUNTANTS:

Mead Accounting Limited

Chartered Certified Accountants

The Stables

Summer Road

Walsham Le Willows

Suffolk

IP31 3AJ

FIXED ASSETS

Tangible assets

5

242,790

240,188

CURRENT ASSETS

Stocks

6

1,000

3,960

Debtors

7

351

159

1,351

4,119

CREDITORS

Amounts falling due within one year

8

2,500

NET CURRENT (LIABILITIES)/ASSETS

(1,149

)

1,619

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

241,641

241,807

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

262,016

267,782

MEMBERS' OTHER INTERESTS

Other reserves

(20,375

)

(25,975

)

241,641

241,807

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

262,016

267,782

Members' other interests

(20,375

)

(25,975

)

241,641

241,807

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 19 December 2025 and were signed by:

M Rhodes - Designated member

Mrs I Rhodes - Designated member

1.	STATUTORY INFORMATION

The Winery At Thurston Place 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.

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:-

- the LLP has transferred the significant risks and rewards of ownership to the buyer

- the LLP retains neither continuing managerial involvement nor effective control over the goods sold

- the amount of revenue can be measured reliably

- it is probable that the LLP will receive consideration due

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

Straight line over 10 years

Impairment

At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments (but excluding investment properties), are assessed to determine whether there is an indication that those assets have suffered an impairment loss. If any indication arises, the recoverable amount is estimated and compared to its carrying amount to determine if an impairment loss has arisen.

If the recoverable amount is lower, the carrying amount of the asset is written down to its recoverable amount and an impairment loss is recognised in profit and loss.

Recoverable amount of the asset is the higher of its value in use and its net realisable value.

Stocks

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

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and loans from financial institutions or other related parties.

Debts instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, ,are measured initially and subsequently at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between as asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

4.	EMPLOYEE INFORMATION

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

5.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

COST

At 1 April 2024

156,997

77,514

60,046

18,564

313,121

Additions

1,884

31,200

-

78

33,162

Disposals

-

(33,162

)

-

(33,162

)

At 31 March 2025

158,881

75,552

60,046

18,642

313,121

DEPRECIATION

At 1 April 2024

-

36,665

32,260

4,008

72,933

Charge for year

-

8,678

8,444

931

18,053

Eliminated on disposal

-

(20,655

)

-

(20,655

)

Reclassification/transfer

-

5,990

(5,990

)

-

At 31 March 2025

-

30,678

34,714

4,939

70,331

NET BOOK VALUE

At 31 March 2025

158,881

44,874

25,332

13,703

242,790

At 31 March 2024

156,997

40,849

27,786

14,556

240,188

6.

STOCKS

31.3.25

31.3.24

£

Stocks

1,000

3,960

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Prepayments

351

159

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Accruals and deferred income

2,500

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

31.3.25

31.3.24

£

Loans from members

262,016

267,782

Falling due within one year

262,016

267,782