Ffynnon Llaeth LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC307110 (England and Wales)

FFYNNON LLAETH LLP

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mrs S U Wood

Mr G Ehm

SG Farms Limited

REGISTERED OFFICE:

Pantglas Farm

Llanboidy

Whitland

Carmarthenshire

SA34 0EX

REGISTERED NUMBER:

OC307110 (England and Wales)

ACCOUNTANTS:

D M B Davies Limited

Broyan House

Priory Street

Cardigan

Ceredigion

SA43 1BZ

FIXED ASSETS

Intangible assets

4

1,226

Tangible assets

5

96,005

99,344

97,231

100,570

CURRENT ASSETS

Stocks

230,902

160,222

Debtors

6

48,367

205,659

Investments

7

51,900

Cash at bank

215,853

101,712

547,022

519,493

CREDITORS

Amounts falling due within one year

8

11,149

17,634

NET CURRENT ASSETS

535,873

501,859

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO
MEMBERS

633,104

602,429

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

454,689

424,014

MEMBERS' OTHER INTERESTS

Capital accounts

178,415

633,104

602,429

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

454,689

424,014

Members' other interests

178,415

Amounts due from members

6

(29,321

)

(7,320

)

603,783

595,109

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 18 December 2025 and were signed by:

Mrs S U Wood - Designated member

1.	STATUTORY INFORMATION

Ffynnon Llaeth 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 etc

-

15% on reducing balance

Stocks

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

3.	EMPLOYEE INFORMATION

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

4.	INTANGIBLE FIXED ASSETS

SFP

Quota

entitlement

Totals

£

COST

At 1 April 2024

and 31 March 2025

14,826

1,226

16,052

AMORTISATION

At 1 April 2024

and 31 March 2025

14,826

-

14,826

NET BOOK VALUE

At 31 March 2025

-

1,226

At 31 March 2024

-

1,226

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

property

machinery

Totals

£

COST

At 1 April 2024

8,050

406,340

414,390

Additions

-

12,182

At 31 March 2025

8,050

418,522

426,572

DEPRECIATION

At 1 April 2024

-

315,046

Charge for year

-

15,521

At 31 March 2025

-

330,567

NET BOOK VALUE

At 31 March 2025

8,050

87,955

96,005

At 31 March 2024

8,050

91,294

99,344

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

19,046

28,339

Other debtors

29,321

177,320

48,367

205,659

7.	CURRENT ASSET INVESTMENTS

2025

2024

£

Unlisted investments

51,900

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

9,167

15,788

Other creditors

1,982

1,846

11,149

17,634

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts to to members will rank after other creditors.