REGISTERED NUMBER: OC331446 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Winfrith Fields Farm LLP

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

941,168

964,270

Investments

5

150

150

Investment property

6

347,308

-

Biological assets

7

1,452,600

1,325,400

2,741,226

2,289,820

CURRENT ASSETS

Stocks

8

1,554,960

1,473,008

Debtors

9

888,267

796,616

Cash at bank

-

161,841

2,443,227

2,431,465

CREDITORS

Amounts falling due within one year

10

1,152,992

1,012,687

NET CURRENT ASSETS

1,290,235

1,418,778

TOTAL ASSETS LESS CURRENT LIABILITIES

4,031,461

3,708,598

CREDITORS

Amounts falling due after more than one year

11

282,715

466,495

NET ASSETS ATTRIBUTABLE TO MEMBERS

3,748,746

3,242,103

LOANS AND OTHER DEBTS DUE TO MEMBERS

13

2,461,438

2,302,103

MEMBERS' OTHER INTERESTS

Capital accounts

1,287,308

940,000

3,748,746

3,242,103

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

13

2,461,438

2,302,103

Members' other interests

1,287,308

940,000

3,748,746

3,242,103

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 24 December 2025 and were signed by:

Mr A P Turney - Designated member

Mr N D Cobb - Designated member

1.	STATUTORY INFORMATION

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

Registered number:

OC331446

Registered office:

Oake House

Silver Street

West Buckland

Wellington

Somerset

TA21 9LR

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 as modified by the revaluation of certain assets.

The financial information is compiled on an agreed basis that:

- enables profits to be calculated such as to meet the requirements of Section 25 of the Income Tax (Trading and Other Income) Act 2005; and

- provides sufficient and relevant information to enable the completion of a tax return.

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

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

Partnership improvements

-

25% on reducing balance and 15% on reducing balance

Plant and machinery

-

25% on reducing balance and 20% on reducing balance

Dairy equipment

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance and 20% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stock is valued at the lower of cost and net realisable value. Home grown produce has been valued in accordance with H M Revenue & Customs guidance HS232.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Biological non current assets

Biological non current assets are valued at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Dairy cows - 33% straight line

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 21 (2024 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Partnership

Plant and

Dairy

Motor

improvements

machinery

equipment

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2024

326,791

1,118,719

367,362

31,323

1,844,195

Additions

-

116,805

38,212

-

155,017

Disposals

-

(17,000

)

(13,225

)

(5,950

)

(36,175

)

Reclassification/transfer

(698

)

-

-

-

(698

)

At 31 March 2025

326,093

1,218,524

392,349

25,373

1,962,339

DEPRECIATION

At 1 April 2024

103,257

462,136

297,881

16,651

879,925

Charge for year

6,453

138,545

18,578

3,307

166,883

Eliminated on disposal

-

(11,081

)

(10,018

)

(4,538

)

(25,637

)

At 31 March 2025

109,710

589,600

306,441

15,420

1,021,171

NET BOOK VALUE

At 31 March 2025

216,383

628,924

85,908

9,953

941,168

At 31 March 2024

223,534

656,583

69,481

14,672

964,270

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

and 31 March 2025

150

NET BOOK VALUE

At 31 March 2025

150

At 31 March 2024

150

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

346,610

Transfer from property improvements

698

At 31 March 2025

347,308

NET BOOK VALUE

At 31 March 2025

347,308

Fair value at 31 March 2025 is represented by:

£

Cost

347,308

7.	BIOLOGICAL ASSETS

Dairy

herd

£

COST

At 1 April 2024

1,510,800

Additions

542,400

Disposals

(517,200

)

At 31 March 2025

1,536,000

DEPRECIATION

At 1 April 2024

185,400

Charge for year

(8,250

)

Eliminated on disposal

(93,750

)

At 31 March 2025

83,400

NET BOOK VALUE

At 31 March 2025

1,452,600

At 31 March 2024

1,325,400

The herd has been accounted for tax purposes in accordance with the herd basis provisions of Section 111 Income Tax (Trading and Other Income) Act 2005.

8.

STOCKS

2025

2024

£

£

Closing livestock

645,261

577,764

Closing deadstock

909,699

895,244

1,554,960

1,473,008

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

691,746

637,792

Other debtors

1,530

1,530

VAT

112,943

100,591

Prepayments and accrued income

82,048

56,703

888,267

796,616

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

286,874

99,987

Hire purchase contracts

124,322

118,150

Trade creditors

570,982

521,894

Social security and other taxes

26,526

14,002

Accruals and deferred income

142,004

258,654

Deferred government grants

2,284

-

1,152,992

1,012,687

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-5 years

179,674

287,377

Hire purchase contracts

95,047

179,118

Deferred government grants

7,994

-

282,715

466,495

12.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

288,716

387,364

Hire purchase contracts

219,369

297,268

508,085

684,632

Hire purchase agreements are secured on the assets to which they relate.

The bank loan is secured by personal guarantee by Mr A P Turney and Mr N D Cobb limited to £200,000.

13.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.