Company No: OC422891 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	2,411,129		2,415,969
		2,411,129		2,415,969
Current assets
Debtors	4	5,687		5,250
		5,687		5,250
Creditors: amounts falling due within one year	5	( 24,982)		( 22,447)
Net current liabilities		(19,295)		(17,197)
Total assets less current liabilities		2,391,834		2,398,772
Net assets attributable to members		2,391,834		2,398,772
Represented by
Loans and other debts due to members after more than one year
Other amounts		(4,781)		2,157
		(4,781)		2,157
Members' other interests
Members' capital classified as equity		2,396,615		2,396,615
		2,396,615		2,396,615
		2,391,834		2,398,772
Total members' interests
Loans and other debts due to members		(4,781)		2,157
Members' other interests		2,396,615		2,396,615
		2,391,834		2,398,772

For the financial year ending 31 March 2026 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.

Members' responsibilities:

• The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Drove Farm LLP (registered number: OC422891) were approved and authorised for issue by the Board of Directors on 11 May 2026. They were signed on its behalf by:

Mr J A Arney Designated member

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Drove Farm LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Hitchcock House Hilltop Park, Devizes Road, Salisbury, SP3 4UF, United Kingdom. The principal place of business is Drove House, Drove Lane, Old Alresford, Hampshire, SO24 9TB.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

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.

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.

Tangible fixed assets

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:

Land and buildings	not depreciated
Plant and machinery	25 % reducing balance
Fixtures and fittings	25 % reducing balance

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Equity instruments
Equity instruments issued by the LLP are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the LLP.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the LLP during the year	2		2

3. Tangible assets

	Land and buildings		Plant and machinery		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 April 2025	2,396,614		46,765		35,273		2,478,652
At 31 March 2026	2,396,614		46,765		35,273		2,478,652
Accumulated depreciation
At 01 April 2025	0		39,774		22,909		62,683
Charge for the financial year	0		1,748		3,092		4,840
At 31 March 2026	0		41,522		26,001		67,523
Net book value
At 31 March 2026	2,396,614		5,243		9,272		2,411,129
At 31 March 2025	2,396,614		6,991		12,364		2,415,969

4. Debtors

	2026		2025
	£		£
Prepayments	5,687		5,250

5. Creditors: amounts falling due within one year

	2026		2025
	£		£
Accruals and deferred income	21,558		20,025
Other taxation and social security	3,424		2,422
	24,982		22,447