M Paull Agricultural Contractors LLP

Registered number

OC375110

Filleted Accounts

31 March 2026

M Paull Agricultural Contractors LLP
Registered number:		OC375110
Balance Sheet
as at 31 March 2026
Notes		2026		2025
£			£
Fixed assets
Tangible assets	3	415,924		427,825

Current assets
Debtors	4	14,230		20,255
Cash at bank and in hand		102,286		30,832
		116,516		51,087

Creditors: amounts falling due within one year	5	(56,452)		(44,681)

Net current assets / (liabilities)		60,064		6,406

Total assets less current liabilities		475,988		434,231

Creditors: amounts falling due after more than one year	6	(127,701)		(182,411)

Net assets attributable to members		348,287		251,820

Represented by:
Loans and other debts due to members	7	-		-

Members' other interests
Members' capital classified as equity		70,678		80,358
Other reserves		277,609		171,462
		348,287		251,820

		348,287		251,820

Total members' interests
Loans and other debts due to members	7	-		-
Members' other interests		348,287		251,820

		348,287		251,820


For the year ended 31 March 2026 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.

These accounts were approved by the members on 21 August 2026 and signed on their behalf by:



S Paull
Designated member

M Paull Agricultural Contractors LLP
Notes to the Accounts
for the year ended 31 March 2026

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Division of profits
	Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.

	Taxation
	Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	25% straight line
	Motor Vehicles	25% straight line

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
	Members' capital
	Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the LLP's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2	Employees		2026		2025
Number				Number

	Average number of persons employed by the LLP		-		-


3	Tangible fixed assets
					Plant and Machinery etc
£
	Cost
	At 1 April 2025				969,360
	Additions				141,522
	Disposals				(204,775)
	At 31 March 2026				906,107

	Depreciation
	At 1 April 2025				541,535
	Charge for the year				145,212
	On disposals				(196,564)
	At 31 March 2026				490,183

	Net book value
	At 31 March 2026				415,924
	At 31 March 2025				427,825


4	Debtors		2026		2025
£				£

	Trade debtors		14,230		20,255


5	Creditors: amounts falling due within one year		2026		2025
£				£

	Bank loans and overdrafts		1,667		26,300
	Obligations under finance lease and hire purchase contracts		25,804		1,250
	Trade creditors		8,986		14,250
	Other taxes and social security costs		19,995		2,881
			56,452		44,681


6	Creditors: amounts falling due after one year		2026		2025
£				£

	Bank loans		-		11,667
	Obligations under finance lease and hire purchase contracts		127,701		170,744
			127,701		182,411


7	Loans and other debts due to members		2026		2025
£				£

	Loans from members		-		-

	Amounts falling due within one year		-		-

	Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.


8	Other information

	M Paull Agricultural Contractors LLP is a limited liability partnership incorporated in England. Its registered office is:
	Footlands Farm
	Church Street
	Merriott
	Somerset
	TA16 5QP