Dernwood Farm LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC325434 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Dernwood Farm LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr C R L Bannister

Mrs J E A Bannister

Mrs A Norman

Mr T Norman

REGISTERED OFFICE:

Little Dernwood Farm

Dern Lane, Lions Green

Waldron

Heathfield

East Sussex

TN21 0PN

REGISTERED NUMBER:

OC325434 (England and Wales)

ACCOUNTANTS:

Swindells LLP

Chartered Accountants

Atlantic House

8 Bell Lane

Bellbrook Industrial Estate

Uckfield

East Sussex

TN22 1QL

FIXED ASSETS

Tangible assets

4

596,690

619,604

CURRENT ASSETS

Stocks

25,000

Debtors

5

91,036

98,547

Cash at bank

4,118

4,924

120,154

128,471

CREDITORS

Amounts falling due within one year

6

44,872

34,479

NET CURRENT ASSETS

75,282

93,992

TOTAL ASSETS LESS CURRENT
LIABILITIES

671,972

713,596

CREDITORS

Amounts falling due after more than
one year

7

219,077

231,180

NET ASSETS ATTRIBUTABLE TO
MEMBERS

452,895

482,416

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

452,895

482,416

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

452,895

482,416

Amounts due from members

5

(85,269

)

(67,336

)

367,626

415,080

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 29 December 2025 and were signed by:

Mrs A Norman - Designated member

1.	STATUTORY INFORMATION

Dernwood 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents revenue from commercial transactions under which the entity supplies customers the goods and services that it is in business to provide and is recognised when it obtains, through performance under contract, the right to consideration for those goods and services.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on cost

Freehold buildings have now been depreciated because it is anticipated that the residual value will exceed the carrying value of such assets, as the entity has a policy and practice of regular maintenance and repair, such that the economic life is expected to exceed fifty years. Any depreciation charge and accumulated depreciation would be immaterial.

Stocks

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

Members

A member's share of the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses are included within 'other reserves'.

3.	EMPLOYEE INFORMATION

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

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

machinery

£

COST

At 1 April 2024

562,500

204,138

50,591

Additions

-

1,871

Disposals

-

(5,200

)

At 31 March 2025

562,500

204,138

47,262

DEPRECIATION

At 1 April 2024

-

161,921

46,928

Charge for year

-

20,415

1,385

Eliminated on disposal

-

(5,077

)

At 31 March 2025

-

182,336

43,236

NET BOOK VALUE

At 31 March 2025

562,500

21,802

4,026

At 31 March 2024

562,500

42,217

3,663

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

COST

At 1 April 2024

23,696

1,500

2,223

844,648

Additions

-

1,871

Disposals

-

(5,200

)

At 31 March 2025

23,696

1,500

2,223

841,319

DEPRECIATION

At 1 April 2024

12,938

1,490

1,767

225,044

Charge for year

2,689

3

170

24,662

Eliminated on disposal

-

(5,077

)

At 31 March 2025

15,627

1,493

1,937

244,629

NET BOOK VALUE

At 31 March 2025

8,069

7

286

596,690

At 31 March 2024

10,758

10

456

619,604

Included in cost of land and buildings is freehold land of £ 562,500 (2024 - £ 562,500 ) which is not depreciated.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Other debtors

91,036

98,547

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

11,745

6,200

Taxation and social security

14,063

12,099

Other creditors

19,064

16,180

44,872

34,479

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Bank loans

6,917

8,783

Other creditors

212,160

222,397

219,077

231,180

Amounts falling due in more than five years:

Repayable by instalments

Other loans

157,307

170,851

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank overdraft

7,812

-

Loans

223,637

233,182

231,449

233,182

Bank borrowings are secured by way of fixed and floating charges on the freehold land and property owned by the LLP.

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts to members are unsecured and would rank pari passu with other unsecured creditors in the event of a winding up.