Kate's Farm LLP

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—4

Registered number: OC369128

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		912,265		905,091

			912,265		905,091
CURRENT ASSETS
Debtors	5	685,532		688,567
Cash at bank and in hand		17,047		3,457

		702,579		692,024
Creditors: Amounts Falling Due Within One Year	6	(19,133 )		(19,324 )

NET CURRENT ASSETS (LIABILITIES)			683,446		672,700

TOTAL ASSETS LESS CURRENT LIABILITIES			1,595,711		1,577,791

NET ASSETS ATTRIBUTABLE TO MEMBERS			1,595,711		1,577,791

REPRESENTED BY:
Equity
Members' other interests
Members' capital		294,324		263,704
Other reserves		1,301,387		1,314,087

			1,595,711		1,577,791

TOTAL MEMBERS' INTEREST
Members' other interests			1,595,711		1,577,791

			1,595,711		1,577,791

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Kate's Farm LLP

Statement of Financial Position (continued)

As At 5 April 2025

For the year ending 5 April 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 Income Statement.

On behalf of the members

Mr J Graham

Designated Member

08/01/2026

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

1. General Information

Kate's Farm LLP is a limited liability partnership, incorporated in England & Wales, registered number OC369128 . The Registered Office is Upper Meend Farm, Penallt, Monmouth, NP25 4RP.

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 the LLP.

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	over 50 years
Land Improvements	over 20 years
Plant & Machinery	over 10 years
Motor Vehicles	over 5 years
Fixtures & Fittings	over 10 years

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: NIL (2024: 1)

4. Tangible Assets

	Land & Property
	Freehold	Land Improvements	Plant & Machinery	Motor Vehicles
	£	£	£	£
Cost
As at 6 April 2024	1,121,619	-	89,877	7,415
Additions	-	1,215	34,060	-

As at 5 April 2025	1,121,619	1,215	123,937	7,415

Depreciation
As at 6 April 2024	257,236	-	52,054	7,163
Provided during the period	22,432	61	12,394	84

As at 5 April 2025	279,668	61	64,448	7,247

...CONTINUED

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Kate's Farm LLP

Notes to the Financial Statements (continued)

For The Year Ended 5 April 2025

Net Book Value
As at 5 April 2025	841,951	1,154	59,489	168

As at 6 April 2024	864,383	-	37,823	252


	Fixtures & Fittings	Total
	£	£
Cost
As at 6 April 2024	211,120	1,430,031
Additions	8,366	43,641

As at 5 April 2025	219,486	1,473,672

Depreciation
As at 6 April 2024	208,487	524,940
Provided during the period	1,496	36,467

As at 5 April 2025	209,983	561,407

Net Book Value
As at 5 April 2025	9,503	912,265

As at 6 April 2024	2,633	905,091

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	1,159	2,980
Other debtors	684,373	685,587

	685,532	688,567

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	4,388	5,553
Other creditors	14,745	13,771

	19,133	19,324

7. Related Party Transactions

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank

equally with unsecured creditors

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