Fowlescombe Farm LLP

	Page
Abridged Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—4

Registered number: OC452122

		31 March 2025
	Notes	£	£
FIXED ASSETS
Tangible Assets	4		7,330,676
Investment Properties	5		14,514,918

			21,845,594
CURRENT ASSETS
Stocks		398,456
Debtors		347,083
Cash at bank and in hand		82,922

		828,461
Creditors: Amounts Falling Due Within One Year		(283,401 )

NET CURRENT ASSETS (LIABILITIES)			545,060

TOTAL ASSETS LESS CURRENT LIABILITIES			22,390,654

NET ASSETS ATTRIBUTABLE TO MEMBERS			22,390,654

REPRESENTED BY:
Equity
Members' other interests
Members' capital		4,559,513
Other reserves		17,831,141

			22,390,654

TOTAL MEMBERS' INTEREST
Amounts due from members			(164,043)
Members' other interests			22,390,654

			22,226,611

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Fowlescombe Farm LLP

Abridged Balance Sheet (continued)

As At 31 March 2025

For the period ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

All of the LLP's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 March 2025 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the members

A W Owens

Designated Member

31 December 2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Fowlescombe Farm LLP is a limited liability partnership, incorporated in England & Wales, registered number OC452122 . The Registered Office is Fowlescombe Farm, Ugborough, Ivybridge, Devon, PL21 0HW.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of Fowlescombe Farm LLP (The Farm).

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	50 years straight line
Plant & Machinery	10 years straight line
Motor Vehicles	10 years straight line
Fixtures & Fittings	10 years straight line
Computer Equipment	5 years straight line

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.5. Stocks and Work in Progress

The Farm has once class of biological asset being livestock which is valued at fair value less costs to sell.

Other stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the period was: 4

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Fowlescombe Farm LLP

Notes to the Abridged Financial Statements (continued)

For the Period 29 April 2024 to 31 March 2025

4. Tangible Assets

	Total
	£
Cost
As at 29 April 2024	-
Additions	7,442,771

As at 31 March 2025	7,442,771

Depreciation
As at 29 April 2024	-
Provided during the period	112,095

As at 31 March 2025	112,095

Net Book Value
As at 31 March 2025	7,330,676

As at 29 April 2024	-

Tangible asset additions comprise acquisitions from third paries in the sum of £72,591 and £7,370,180 transferred in from a related business as part of a restructure.

5. Investment Property

	31 March 2025
	£
Fair Value
As at 29 April 2024	-
Additions	14,577,930
Disposals	(63,012 )
Depreciation and impairment	-

As at 31 March 2025	14,514,918

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