| REGISTERED NUMBER: |
| REPORT OF THE MEMBERS AND |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 29 MARCH 2025 |
| FOR |
| DODDINGTON FARMS LLP |
| REGISTERED NUMBER: |
| REPORT OF THE MEMBERS AND |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 29 MARCH 2025 |
| FOR |
| DODDINGTON FARMS LLP |
| DODDINGTON FARMS LLP (REGISTERED NUMBER: OC330471) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 29 MARCH 2025 |
| Page |
| General Information | 1 |
| Report of the Members | 2 |
| Report of the Independent Auditors | 3 |
| Income Statement | 6 |
| Other Comprehensive Income | 7 |
| Statement of Financial Position | 8 |
| Reconciliation of Members' Interests | 9 |
| Statement of Cash Flows | 11 |
| Notes to the Statement of Cash Flows | 12 |
| Notes to the Financial Statements | 14 |
| DODDINGTON FARMS LLP |
| GENERAL INFORMATION |
| FOR THE YEAR ENDED 29 MARCH 2025 |
| DESIGNATED MEMBERS: |
| G C Birch |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| 3 Castlegate |
| Grantham |
| Lincolnshire |
| NG31 6SF |
| DODDINGTON FARMS LLP (REGISTERED NUMBER: OC330471) |
| REPORT OF THE MEMBERS |
| FOR THE YEAR ENDED 29 MARCH 2025 |
| The members present their report with the financial statements of the LLP for the year ended 29 March 2025. |
| PRINCIPAL ACTIVITIES |
| The principal activities of the LLP in the year under review were those of running various retail outlets based on the Doddington Estate, including a farm shop and restaurant, country clothing and home interior design store, bike store and café, and a Christmas trees and decorations store. The LLP also provides services including weddings and other private functions and hosts corporate hospitality events. In addition, there is also a livestock farming venture, and the management of properties. |
| DESIGNATED MEMBERS |
| The designated members during the year under review were: |
| G C Birch |
| RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
| The loss for the year before members' remuneration and profit shares was £83,869 (2024 - £357,016 loss). |
| MEMBERS' INTERESTS |
| Any amounts contributed by the members to the LLP will be repaid by the LLP on the departure of a member from the LLP. These amounts are shown as liabilities on the statement of financial position. |
| Members can only withdraw profits to the extent that the LLP retains sufficient working capital to finance its ongoing operation. |
| STATEMENT OF MEMBERS' RESPONSIBILITIES |
| The members are responsible for preparing the Report of the Members and the financial statements in accordance with applicable law and regulations. |
| Legislation applicable to limited liability partnerships requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under legislation applicable to limited liability partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period. In preparing these financial statements, the members are required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business. |
| The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
| So far as the members are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the LLP's auditors are unaware, and each member has taken all the steps that he or she ought to have taken as a member in order to make himself or herself aware of any relevant audit information and to establish that the LLP's auditors are aware of that information. |
| ON BEHALF OF THE MEMBERS: |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| DODDINGTON FARMS LLP |
| Opinion |
| We have audited the financial statements of Doddington Farms LLP (the 'LLP') for the year ended 29 March 2025 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Reconciliation of Members' Interests, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
| In our opinion the financial statements: |
| - | give a true and fair view of the state of the LLP's affairs as at 29 March 2025 and of its loss for the year then ended; |
| - | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | have been prepared in accordance 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. |
| Basis for opinion |
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the LLP in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
| Conclusions relating to going concern |
| In auditing the financial statements, we have concluded that the members' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
| Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the LLP's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
| Our responsibilities and the responsibilities of the members with respect to going concern are described in the relevant sections of this report. |
| Other information |
| The members are responsible for the other information. The other information comprises the information in the Report of the Members, but does not include the financial statements and our Report of the Auditors thereon. |
| Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
| In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
| Matters on which we are required to report by exception |
| We have nothing to report in respect of the following matters where the Companies Act 2006 as applied to LLPs requires us to report to you if, in our opinion: |
| - | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the financial statements are not in agreement with the accounting records and returns; or |
| - | we have not received all the information and explanations we require for our audit. |
| Responsibilities of members |
| As explained more fully in the Statement of Members' Responsibilities set out on page two, the members are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the members determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
| In preparing the financial statements, the members are responsible for assessing the LLP's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the members either intend to liquidate the LLP or to cease operations, or have no realistic alternative but to do so. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| DODDINGTON FARMS LLP |
| Auditors' responsibilities for the audit of the financial statements |
| Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
| The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| We have identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial experience, knowledge of the sector, a review of regulatory and legal correspondence and through discussions with members and other management obtained as part of the work required by auditing standards. We have also discussed with the members and other management the policies and procedures relating to compliance with laws and regulations. We communicated laws and regulations throughout the team and remained alert to any indications of non-compliance throughout the audit. The potential impact of different laws and regulations varies considerably. |
| Firstly, the LLP is subject to laws and regulations that directly impact the financial statements (for example financial reporting legislation) and we have assessed the extent of compliance with such laws as part of our financial statements audit. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase reported profitability. Audit procedures performed by the engagement team included the identification and testing of unusual material journal entries . |
| Secondly, the LLP is subject to other laws and regulations where the consequence for non-compliance could have a material effect on the amounts or disclosures in the financial statements. We identified the following areas as those most likely to have such an effect: Health and Safety regulations, Employment laws and the LLP is required to adhere to Food Hygiene Regulations. The LLP is subject to external audits to ensure compliance with this area. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the members and other management and inspection. This inspection included a review of the external audits conducted within the year for any evidence of non-compliance, in addition to an assessment of the LLP's employment and health and safety controls. Through these procedures, if we became aware of any non-compliance, we considered the impact on the procedures performed on the related financial statement items. |
| Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. As with any audit, there is a greater risk of non-detection of irregularities as these may involve collusion, intentional omissions of the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
| A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| DODDINGTON FARMS LLP |
| Use of our report |
| This report is made solely to the LLP's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. Our audit work has been undertaken so that we might state to the LLP's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and the LLP's members as a body, for our audit work, for this report, or for the opinions we have formed. |
| for and on behalf of |
| 3 Castlegate |
| Grantham |
| Lincolnshire |
| NG31 6SF |
| DODDINGTON FARMS LLP (REGISTERED NUMBER: OC330471) |
| INCOME STATEMENT |
| FOR THE YEAR ENDED 29 MARCH 2025 |
| Period |
| 30.9.22 |
| Year Ended | to |
| 29.3.25 | 29.3.24 |
| Notes | £ | £ |
| TURNOVER |
| Cost of sales |
| GROSS PROFIT |
| Administrative expenses |
| (1,225,607 | ) | (1,268,551 | ) |
| Other operating income |
| OPERATING PROFIT/(LOSS) | 4 | ( |
) |
| Interest payable and similar expenses | 5 |
| LOSS FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
( |
) |
( |
) |
| DODDINGTON FARMS LLP (REGISTERED NUMBER: OC330471) |
| OTHER COMPREHENSIVE INCOME |
| FOR THE YEAR ENDED 29 MARCH 2025 |
| Period |
| 30.9.22 |
| Year Ended | to |
| 29.3.25 | 29.3.24 |
| Notes | £ | £ |
| LOSS FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
( |
) |
( |
) |
| OTHER COMPREHENSIVE INCOME |
| Revaluation of investment properties |
| OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - |
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR | ( |
) | ( |
) |
| DODDINGTON FARMS LLP (REGISTERED NUMBER: OC330471) |
| STATEMENT OF FINANCIAL POSITION |
| 29 MARCH 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 7 |
| Investment property | 8 |
| CURRENT ASSETS |
| Stocks | 9 |
| Debtors | 10 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 11 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 12 |
| NET ASSETS ATTRIBUTABLE TO MEMBERS | 16,803,024 | 16,787,510 |
| LOANS AND OTHER DEBTS DUE TO MEMBERS | 16 | 15,918,894 | 16,176,526 |
| MEMBERS' OTHER INTERESTS |
| Revaluation reserve |
| Other reserves | ( |
) | ( |
) |
| 16,803,024 | 16,787,510 |
| TOTAL MEMBERS' INTERESTS |
| Loans and other debts due to members | 16 | 15,918,894 | 16,176,526 |
| Members' other interests | 884,130 | 610,984 |
| 16,803,024 | 16,787,510 |
| The financial statements were approved by the members of the LLP and authorised for issue on |
| DODDINGTON FARMS LLP (REGISTERED NUMBER: OC330471) |
| RECONCILIATION OF MEMBERS' INTERESTS |
| FOR THE YEAR ENDED 29 MARCH 2025 |
| EQUITY |
| Members' other interests |
| Revaluation | Other |
| reserve | reserves | Total |
| £ | £ | £ |
| Balance at 30 March 2024 | 968,000 | (357,016 | ) | 610,984 |
| Loss for the financial year available for discretionary division among members |
- |
(83,869 |
) |
(83,869 |
) |
| Members' interests after loss for the year | 968,000 | (440,885 | ) | 527,115 |
| Allocation of prior year |
| profit | - | 357,015 | 357,015 |
| Introduced by members | - | - | - |
| Drawings on account and distributions of profit | - | - | - |
| Balance at 29 March 2025 | 968,000 | (83,870 | ) | 884,130 |
| DEBT | TOTAL |
| Loans and other debts due to | MEMBERS' |
| members less any amounts due | INTERESTS |
| from members in debtors |
| Other |
| amounts | Total |
| £ | £ |
| Amount due to members | 16,176,525 |
| Amount due from members | - |
| Balance at 30 March 2024 | 16,176,525 | 16,787,509 |
| Loss for the financial year available for discretionary division among members |
- |
(83,869 |
) |
| Members' interests after loss for the year | 16,176,525 | 16,703,640 |
| Allocation of prior year |
| profit | - | 357,015 |
| Introduced by members | 31,960 | 31,960 |
| Drawings on account and distributions of profit | (289,591 | ) | (289,591 | ) |
| Amount due to members | 15,918,894 |
| Amount due from members | - |
| Balance at 29 March 2025 | 15,918,894 | 16,803,024 |
| DODDINGTON FARMS LLP (REGISTERED NUMBER: OC330471) |
| RECONCILIATION OF MEMBERS' INTERESTS |
| FOR THE YEAR ENDED 29 MARCH 2025 |
| EQUITY |
| Members' other interests |
| Revaluation | Other |
| reserve | reserves | Total |
| £ | £ | £ |
| Balance at 30 September 2022 | 968,000 | 458,260 | 1,426,260 |
| Loss for the financial year available for discretionary division among members |
- |
(357,016 |
) |
(357,016 |
) |
| Members' interests after loss for the year | 968,000 | 101,244 | 1,069,244 |
| Allocation of prior year |
| profit | - | (458,260 | ) | (458,260 | ) |
| Introduced by members | - | - | - |
| Drawings on account and distributions of profit | - | - | - |
| Balance at 29 March 2024 | 968,000 | (357,016 | ) | 610,984 |
| DEBT | TOTAL |
| Loans and other debts due to | MEMBERS' |
| members less any amounts due | INTERESTS |
| from members in debtors |
| Other |
| amounts | Total |
| £ | £ |
| Amount due to members | 13,982,961 |
| Amount due from members | - |
| Balance at 30 September 2022 | 13,982,961 | 15,409,221 |
| Loss for the financial year available for discretionary division among members |
- |
(357,016 |
) |
| Members' interests after loss for the year | 13,982,961 | 15,052,205 |
| Allocation of prior year |
| profit | - | (458,260 | ) |
| Introduced by members | 2,442,485 | 2,442,485 |
| Drawings on account and distributions of profit | (248,920 | ) | (248,920 | ) |
| Amount due to members | 16,176,526 |
| Amount due from members | - |
| Balance at 29 March 2024 | 16,176,526 | 16,787,510 |
| DODDINGTON FARMS LLP (REGISTERED NUMBER: OC330471) |
| STATEMENT OF CASH FLOWS |
| FOR THE YEAR ENDED 29 MARCH 2025 |
| Period |
| 30.9.22 |
| Year Ended | to |
| 29.3.25 | 29.3.24 |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 2 |
| Interest paid | ( |
) | ( |
) |
| Net cash from operating activities |
| Cash flows from investing activities |
| Purchase of tangible fixed assets | ( |
) | ( |
) |
| Sale of tangible fixed assets |
| Net cash from investing activities | ( |
) | ( |
) |
| Transactions with members and former members |
| Payments to members | (289,591 | ) | (248,920 | ) |
| Contributions by members | 388,975 | 1,984,226 |
| 99,384 | 1,735,306 |
| Cash flows from other financing activities |
| New loans in year |
| Loan repayments in year | ( |
) | ( |
) |
| 495,000 | (15,000 | ) |
| Net cash from financing activities |
| Increase/(decrease) in cash and cash equivalents | ( |
) |
| Cash and cash equivalents at beginning of year | 3 | 272,104 |
| Cash and cash equivalents at end of year | 3 | 160,333 | 19,136 |
| DODDINGTON FARMS LLP (REGISTERED NUMBER: OC330471) |
| NOTES TO THE STATEMENT OF CASH FLOWS |
| FOR THE YEAR ENDED 29 MARCH 2025 |
| 1. | CLASSIFICATION OF SHARE OF PROFITS IN THE CASH FLOW STATEMENT |
| Distributions of profits to members, as calculated per the members' agreement, are classified as operating cash flows under the heading Members' remuneration charged as an expense. |
| 2. | RECONCILIATION OF LOSS FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS TO CASH GENERATED FROM OPERATIONS |
| Period |
| 30.9.22 |
| Year Ended | to |
| 29.3.25 | 29.3.24 |
| £ | £ |
| Loss for the financial year before members' remuneration and profit shares available for discretionary division among members |
(83,869 |
) |
(357,016 |
) |
| Depreciation charges |
| Profit on disposal of fixed assets | ( |
) | ( |
) |
| Amortisation of entitlements | 24,114 | 35,839 |
| Finance costs | 95,508 | 105,961 |
| 305,270 | 69,815 |
| Decrease in stocks |
| (Increase)/decrease in trade and other debtors | ( |
) |
| (Decrease)/increase in trade and other creditors | ( |
) |
| Cash generated from operations |
| 3. | CASH AND CASH EQUIVALENTS |
| The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts: |
| Year ended 29 March 2025 |
| 29.3.25 | 30.3.24 |
| £ | £ |
| Cash and cash equivalents | 160,333 | 19,136 |
| Period ended 29 March 2024 |
| 29.3.24 | 30.9.22 |
| £ | £ |
| Cash and cash equivalents | 19,136 | 272,104 |
| DODDINGTON FARMS LLP (REGISTERED NUMBER: OC330471) |
| NOTES TO THE STATEMENT OF CASH FLOWS |
| FOR THE YEAR ENDED 29 MARCH 2025 |
| 4. | ANALYSIS OF CHANGES IN NET DEBT |
| At 30.3.24 | Cash flow | At 29.3.25 |
| £ | £ | £ |
| Net cash |
| Cash at bank and in hand | 19,136 | 141,197 | 160,333 |
| 19,136 | 160,333 |
| Debt |
| Debts falling due within 1 year | (10,000 | ) | - | (10,000 | ) |
| Debts falling due after 1 year | (2,631,008 | ) | (494,917 | ) | (3,125,925 | ) |
| (2,641,008 | ) | (494,917 | ) | (3,135,925 | ) |
| Net debt (before members' debt) | (2,621,872 | ) | (353,720 | ) | (2,975,592 | ) |
| Loans and other debts |
| due to members |
| Other amounts due to members | (16,176,525 | ) | 257,631 | (15,918,894 | ) |
| Net debt | (18,798,397 | ) | (96,089 | ) | (18,894,486 | ) |
| DODDINGTON FARMS LLP (REGISTERED NUMBER: OC330471) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 29 MARCH 2025 |
| 1. | GENERAL INFORMATION |
| Doddington Farms LLP is a limited liability partnership incorporated in England and Wales. The address of the registered office is given in the general information on page one of these financial statements. The nature of the LLP's operations and principal activities are detailed in the report of the members on page two. |
| 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. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Revenue recognition |
| Revenue represents the fair value of sales at the Doddington Development which consists of the farm shop and restaurant, country clothing and home interior design store, bike store and café, corporate hospitality, weddings and other private functions, Christmas trees and decorations, produce and livestock, and rents receivable excluding value added tax. Sales of produce are recognised upon despatch, rents received are recognised over the period to which they relate, and all other turnover is recognised on the day of sale. |
| Tangible fixed assets |
| Tangible fixed assets are held at cost less accumulated depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter. |
| Freehold property | - Nil |
| Plant, fixtures and equipment | - 25% on reducing balance and at varying rates on cost |
| No depreciation is provided in respect of the freehold property, because members considers that this accounting policy results in a true and fair view, given the insignificance of depreciation. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in other comprehensive income and transferred to a non distributable revaluation reserve. |
| Stocks |
| Stocks are stated at the lower of cost and fair value less costs to sell, after making allowances for obsolete and slow moving items. Livestock is valued on a deemed cost basis. Produce is valued at the lower of cost of production and fair value less costs to sell. |
| Basic payment |
| The basic payment income is recognised in the financial statements in accordance with HM Revenue and Customs guidelines. |
| Government grants |
| Government grants relating to revenue are recognised using the accruals model. The revenue is recognised as income on a systematic basis over the period in which the related costs for which the grant is intended to compensate are recognised. Grants towards capital expenditure are released to the income statement over the expected useful life of the asset to which they relate, commencing on the date that the asset comes into use. |
| DODDINGTON FARMS LLP (REGISTERED NUMBER: OC330471) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 29 MARCH 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Critical accounting judgements and estimation uncertainty |
| In the application of the LLP's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
| The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the useful economic lives of tangible assets. The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in profit or loss when the changes arise. |
| The investment properties are stated at fair value based on the valuations performed by Mundys Property Services LLP and updated by the members at the year end. The valuers use observable market prices adjusted as necessary for any differences in the future, location or condition of the specific asset. The directors are of the opinion that, based on available market evidence, there were no material changes to the property valuations. |
| 3. | EMPLOYEE INFORMATION |
| 2025 | 2024 |
| £ | £ |
| Wages and salaries | 3,781,729 | 4,210,344 |
| Social security costs | 270,651 | 293,849 |
| Other pension costs | 62,023 | 68,982 |
| 4,114,403 | 4,573,175 |
| The average monthly number of employees during the year was as follows: |
| 2025 | 2024 |
| Retail and catering | 204 | 178 |
| Accounts and administration | 3 | 3 |
| 207 | 181 |
| 4. | OPERATING PROFIT/(LOSS) |
| The operating profit (2024 - operating loss) is stated after charging/(crediting): |
| Period |
| 30.9.22 |
| Year Ended | to |
| 29.3.25 | 29.3.24 |
| £ | £ |
| Hire of plant and machinery |
| Other operating leases |
| Depreciation - owned assets |
| Profit on disposal of fixed assets | ( |
) | ( |
) |
| Auditors' remuneration |
| DODDINGTON FARMS LLP (REGISTERED NUMBER: OC330471) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 29 MARCH 2025 |
| 5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
| Period |
| 30.9.22 |
| Year Ended | to |
| 29.3.25 | 29.3.24 |
| £ | £ |
| Bank interest |
| Bank loan interest and fees |
| 6. | INFORMATION IN RELATION TO MEMBERS |
| 2025 | 2024 |
| £ | £ |
| Discretionary division of profit from the previous year | (357,015 | ) | 434,947 |
| Profit/(Loss) for the year for discretionary division | (83,869 | ) | (357,015 | ) |
| 2025 | 2024 |
| The average number of members during the year was | 3 | 3 |
| 7. | TANGIBLE FIXED ASSETS |
| Plant, |
| fixtures |
| Freehold | and | Motor |
| property | equipment | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 30 March 2024 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 29 March 2025 |
| DEPRECIATION |
| At 30 March 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 29 March 2025 |
| NET BOOK VALUE |
| At 29 March 2025 |
| At 29 March 2024 |
| DODDINGTON FARMS LLP (REGISTERED NUMBER: OC330471) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 29 MARCH 2025 |
| 8. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 30 March 2024 |
| and 29 March 2025 |
| NET BOOK VALUE |
| At 29 March 2025 |
| At 29 March 2024 |
| Fair value at 29 March 2025 is represented by: |
| £ |
| Valuation in 2022 | 968,000 |
| Cost | 2,857,000 |
| 3,825,000 |
| If investment properties had not been revalued they would have been included at the following historical cost: |
| 2025 | 2024 |
| £ | £ |
| Cost | 2,857,000 | 2,857,000 |
| Investment properties were valued on an open market basis on 18 June 2021 by Mundys Property Services LLP . |
| The members believe the market value of the properties as at 29 March 2025 are not materially different from the external valuation carried out on 18 June 2021. |
| 9. | STOCKS |
| 2025 | 2024 |
| £ | £ |
| Goods for resale | 906,871 | 972,741 |
| Produce, stores, tenantright and livestock | 127,870 | 117,256 |
| 1,034,741 | 1,089,997 |
| 10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| DODDINGTON FARMS LLP (REGISTERED NUMBER: OC330471) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 29 MARCH 2025 |
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts (see note 13) |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Accruals and deferred income |
| 12. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans (see note 13) |
| 13. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2025 | 2024 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans - less than 1 year |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans - more than 5 years | 3,124,258 | 2,619,341 |
| Interest is charged on the loans, including those repayable in more than 5 years, at variable rates. |
| 14. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| The bank loans are secured against certain freehold land and properties which are included in the statement of financial position. Hire purchase contracts are secured on the asset to which they relate. |
| DODDINGTON FARMS LLP (REGISTERED NUMBER: OC330471) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 29 MARCH 2025 |
| 15. | FINANCIAL INSTRUMENTS |
| The LLP has the following financial instruments: |
| 2025 | 2024 |
| £ | £ |
| Financial assets that are debt instruments measured at amortised cost |
| Trade debtors | 31,734 | 24,666 |
| Other debtors | 270,059 | 139,596 |
| Financial liabilities measured at amortised cost |
| Bank loans | 3,135,925 | 2,641,008 |
| Trade creditors | 1,021,564 | 985,221 |
| Other creditors | 158,706 | 131,403 |
| The total interest income and interest expense for financial assets and financial liabilities that are not measured at fair value through profit or loss was £nil (2024 - £nil) and £93,489 (2024 - £105,886) respectively. |
| 16. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
| 2025 | 2024 |
| £ | £ |
| Loans from members | 4,968,200 | 4,968,201 |
| Amounts owed to members in respect of profits | 10,950,694 | 11,208,325 |
| 15,918,894 | 16,176,526 |
| Falling due within one year | 15,918,894 | 16,176,526 |
| 17. | RELATED PARTY DISCLOSURES |
| The members own consumption of goods from the LLP was reimbursed in full throughout the year, via the members capital accounts. |
| Expenses totalling £302,563 (2024 - £195,552) were paid in the period on behalf of a charity, of which one of the members is a trustee. The LLP was owed £199,103 (2024 - £71,751) at the year-end. |
| Key management personnel compensation is considered to be the same as reported under "information in relation to members" disclosed in note 6. |