Warley Wise Farm LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC447587 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

WARLEY WISE FARM LLP

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

2,347,134

1,340,122

Nut Orchard/Plantation

5

42,504

-

2,389,638

1,340,122

CURRENT ASSETS

Debtors

6

197,986

68,633

Cash at bank

955,724

92,749

1,153,710

161,382

CREDITORS

Amounts falling due within one year

7

3,526

2,289

NET CURRENT ASSETS

1,150,184

159,093

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

3,539,822

1,499,215

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

2,289,822

249,215

MEMBERS' OTHER INTERESTS

Capital accounts

1,250,000

3,539,822

1,499,215

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

2,289,822

249,215

Members' other interests

1,250,000

Amounts due from members

6

(135,091

)

(53,585

)

3,404,731

1,445,630

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 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 18th December 2025 and were signed by:

Mr M R Drakard - Designated member

1.	STATUTORY INFORMATION

Warley Wise Farm LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number:

OC447587

Registered office:

Greystones Clarence Drive

Menston

Ilkley

West Yorkshire

LS29 6AH

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

At the time of signing these accounts, having considered the economic climate, the directors expectations and intentions for the next 12 months, and the availability of working capital, the directors are of the opinion that the company will remain viable for the foreseeable future and accordingly these financial statements have been prepared on the going concern basis.

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

Tangible fixed assets are stated at cost less accumulated depreciation and any accumulated impairment losses. Cost includes all directly attributable expenditure required to bring the asset into working condition for its intended use.

Agricultural Assets - Nut-Producing Trees

Nut-producing trees are classified as tangible fixed assets because they are bearer plants used solely to grow produce over multiple periods and are not intended to be sold as agricultural produce themselves.

Costs capitalised include land preparation, planting, saplings, irrigation installation, direct labour and other attributable establishment costs incurred up to the point the trees are capable of commercial production.

The nut-producing trees are subsequently measured at cost less accumulated depreciation and impairment losses.

Depreciation

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value,of each asset on a systematic basis over its expected useful life as follows. Where an asset is not yet in productive use, it is not depreciated.

Computer Equipment - 33% on cost

Fixtures and fittings - 25% on cost

Buildings are not depreciated until brought into use.

Nut-producing trees are not depreciated until deemed to be in commercial production.

Allocation of profits and drawings

Profits are allocated between the members as agreed at the commencement of each financial year, after payment of interest on capital. During the year members receive monthly drawings , and , from time to time , additional profit distributions. Both the monthly drawings and the profit distributions are deducted from allocated profits.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 4 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1st April 2024

1,339,738

573

1,340,311

Additions

981,323

30,882

1,012,205

At 31st March 2025

2,321,061

31,455

2,352,516

DEPRECIATION

At 1st April 2024

-

189

Charge for year

-

5,193

At 31st March 2025

-

5,382

NET BOOK VALUE

At 31st March 2025

2,321,061

26,073

2,347,134

At 31st March 2024

1,339,738

384

1,340,122

5.	NUT ORCHARD/PLANTATION

Nut

Orchard/Plantation

£

COST

Additions

42,504

At 31st March 2025

42,504

NET BOOK VALUE

At 31st March 2025

42,504

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Other debtors

197,986

68,633

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

1,576

839

Other creditors

1,950

1,450

3,526

2,289

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2025

2024

£

Loans from members

2,289,822

237,077

Amounts owed to members in respect of profits

-

12,138

2,289,822

249,215

Falling due within one year

2,289,822

249,215

In the event of winding up, amounts in 'Loans and other debts due to members' (other than members' capital classified as debt) would rank subject to the provisions of the Insolvency Act 1986 as amended by the Act and the Regulations. As to payment of preferential and other debts including advances), any surplus remaining shall be distributed among the Members rateably in the proportions in which they shared profits immediately prior to commencement of the winding up.

For the purposes of section 74 of the insolvency Act 1986, no member is liable to contribute any amount to the assets of the LLP on liquidation.

The borrower shall pay interest on the loan at the rate from time to time of the lower of:

- 4%; or

- 1% above the Bank of England base rate, as varied from time to time.

Included in loans to members are amounts loaned to the LLP by its members, along with the related accrued interest.

9.	ULTIMATE CONTROLLING PARTY

In the members' opinion , the partnership is controlled by the designated members.