REGISTERED NUMBER: OC380011 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Coverwood Farm LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mrs E A Metson

Mr T J Metson

Mrs S L Metson

REGISTERED OFFICE:

The Old Farmhouse

Coverwood Farm

Peaslake Road, Ewhurst

Cranleigh

Surrey

GU6 7NT

REGISTERED NUMBER:

OC380011 (England and Wales)

ACCOUNTANTS:

Butler & Co Alresford Limited

Chartered Accountants

The Old Stables

Sutton Manor Farm

Bishops Sutton

Alresford

Hampshire

SO24 0AA

FIXED ASSETS

Tangible assets

4

4,833,168

4,861,528

CURRENT ASSETS

Stocks

5

45,658

42,058

Debtors

6

18,454

19,387

Cash at bank

25,431

1,592

89,543

63,037

CREDITORS

Amounts falling due within one year

7

119,849

121,117

NET CURRENT LIABILITIES

(30,306

)

(58,080

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,802,862

4,803,448

CREDITORS

Amounts falling due after more than one year

8

264,020

282,466

NET ASSETS ATTRIBUTABLE TO MEMBERS

4,538,842

4,520,982

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

262,717

244,857

MEMBERS' OTHER INTERESTS

Capital accounts

4,276,125

4,276,125

4,538,842

4,520,982

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

262,717

244,857

Members' other interests

4,276,125

4,276,125

Amounts due from members

6

(6,507

)

(6,507

)

4,532,335

4,514,475

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 22 December 2025 and were signed by:

Mr T J Metson - Designated member

1.	STATUTORY INFORMATION

Coverwood Farm 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.	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.

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.

Plant and machinery

-

25% reducing balance basis and 15% reducing balance basis

Office equipment

-

25% reducing balance basis

Motor vehicles

-

25% reducing balance basis

Stocks

Stock has been valued in accordance with HS232.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

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

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2024 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 April 2024

and 31 March 2025

4,332,916

388,186

405,300

DEPRECIATION

At 1 April 2024

-

-

284,967

Charge for year

-

-

23,336

At 31 March 2025

-

-

308,303

NET BOOK VALUE

At 31 March 2025

4,332,916

388,186

96,997

At 31 March 2024

4,332,916

388,186

120,333

Office

Motor

equipment

vehicles

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

917

87,374

5,214,693

DEPRECIATION

At 1 April 2024

551

67,647

353,165

Charge for year

92

4,932

28,360

At 31 March 2025

643

72,579

381,525

NET BOOK VALUE

At 31 March 2025

274

14,795

4,833,168

At 31 March 2024

366

19,727

4,861,528

5.

STOCKS

2025

2024

£

£

Stocks

45,658

42,058

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

4,480

3,962

Amounts due from members

6,507

6,507

Other debtors

25

25

VAT

7,007

8,276

Prepayments

435

617

18,454

19,387

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

17,331

16,217

Trade creditors

153

184

Social security and other taxes

22

-

Other creditors

70,781

65,740

Accrued expenses

2,400

2,300

Deferred income

29,162

36,676

119,849

121,117

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

20,331

19,217

Bank loans - 2-5 years

60,994

57,652

Bank loans more 5 yr by instal

182,695

205,597

264,020

282,466

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

182,695

205,597

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2025

2024

£

£

Amounts owed to members in respect of profits

262,717

244,857

Falling due within one year

262,717

244,857

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up. There is no provision for specific legally enforceable protection afforded to creditors in such an event. There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' other interests'.

10.	ULTIMATE CONTROLLING PARTY

During the period under review the LLP was under the control of Mr N Metson, Mrs E Metson, Mr T Metson and Mrs S Metson as members and equal partners of the LLP.