Greenacres Equestrian 1 LLP

trading as Greenacres Equestrian

(Registration number: OC400037)
Balance Sheet as at 31 March 2025

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of Greenacres Equestrian 1 LLP (registered number OC400037) were approved by the Board and authorised for issue on 23 December 2025. They were signed on behalf of the limited liability partnership by:

......................................... Ms Penelope Cornish Member

Greenacres Equestrian 1 LLP

trading as Greenacres Equestrian

Notes to the Financial Statements for the Year Ended 31 March 2025

1	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 105 - 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

General information and basis of accounting

The limited liability partnership is incorporated in under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

other taxes policy

Greenacres Equestrian 1 LLP

trading as Greenacres Equestrian

Notes to the Financial Statements for the Year Ended 31 March 2025

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Plant & Machinery, Motor Vehicles & Fixtures & Fittings

Depreciation method and rate 25% Reducing Balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

Pensions and other post retirement obligations

The partnership operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Loss for the year before members' remuneration and profit shares

Arrived at after charging/(crediting)

Greenacres Equestrian 1 LLP

trading as Greenacres Equestrian

Notes to the Financial Statements for the Year Ended 31 March 2025

	2025 £	2024 £
Depreciation	22,117	16,818

3	Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 9 (2024 - 8).

4	Tangible fixed assets

	Freehold land and buildings £	Plant and machinery £	Fixtures and fittings £	Motor vehicles £	Total £
Cost
At 1 April 2024	5,433,433	497,837	68,415	16,220	6,015,905
At 31 March 2025	5,433,433	497,837	68,415	16,220	6,015,905
Depreciation
At 1 April 2024	-	426,856	54,057	13,092	494,005
Charge for the year	-	17,878	3,457	782	22,117
At 31 March 2025	-	444,734	57,514	13,874	516,122
Net book value
At 31 March 2025	5,433,433	53,103	10,901	2,346	5,499,783
At 31 March 2024	5,433,433	70,981	14,358	3,128	5,521,900

5

Stocks

6

Debtors

	2025 £	2024 £
Trade debtors	21,148	200
Prepayments and accrued income	584,298	331,251
Total current trade and other debtors	605,446	331,451

Greenacres Equestrian 1 LLP

trading as Greenacres Equestrian

Notes to the Financial Statements for the Year Ended 31 March 2025

7	Creditors: Amounts falling due within one year

	2025 £	2024 £
Bank loans and overdrafts	678,476	679,283
Trade creditors	89,612	12,353
Other creditors	51,983	49,583
Accruals and deferred income	4,775	3,966
Taxation and social security	11,292	7,723
	836,138	752,908

8	Creditors: Amounts falling due after more than one year

	2025 £	2024 £
Bank loans and overdrafts	25,007	29,317
Other creditors	64,238	72,353
	89,245	101,670

9

Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.