|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Statements |
|
for the Year Ended 30 April 2019 |
|
for |
|
Birch Farms (C & N) LLP |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Statements |
|
for the Year Ended 30 April 2019 |
|
for |
|
Birch Farms (C & N) LLP |
Birch Farms (C & N) LLP (Registered number: OC403709) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 30 April 2019 |
|
|
|
|
Page |
|
General Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
Birch Farms (C & N) LLP |
|
General Information |
for the Year Ended 30 April 2019 |
|
|
|
|
|
|
|
DESIGNATED MEMBERS: |
|
|
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Coval Hall |
Rainsford Road |
Chelmsford |
Essex |
CM1 2QF |
Birch Farms (C & N) LLP (Registered number: OC403709) |
|
Balance Sheet |
30 April 2019 |
|
2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
|
|
Property, plant and equipment | 5 |
|
|
Investment property | 6 |
|
|
|
|
|
CURRENT ASSETS |
Inventories |
|
|
Debtors | 7 |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 8 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
9 |
|
|
NET ASSETS ATTRIBUTABLE TO
MEMBERS |
16,247,980 |
16,186,516 |
Birch Farms (C & N) LLP (Registered number: OC403709) |
|
Balance Sheet - continued |
30 April 2019 |
|
2019 | 2018 |
Notes | £ | £ | £ | £ |
LOANS AND OTHER DEBTS DUE TO
MEMBERS |
12 |
222,324 |
160,860 |
|
MEMBERS' OTHER INTERESTS |
Capital accounts | 16,025,656 | 16,025,656 |
16,247,980 | 16,186,516 |
|
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 12 | 222,324 | 160,860 |
Members' other interests | 16,025,656 | 16,025,656 |
Amounts due from members | 7 | (317,078 | ) | (254,477 | ) |
15,930,902 | 15,932,039 |
|
|
|
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. |
|
|
|
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 on
by: |
|
|
|
|
|
|
|
|
|
|
|
Birch Farms (C & N) LLP (Registered number: OC403709) |
|
Notes to the Financial Statements |
for the Year Ended 30 April 2019 |
|
1. | STATUTORY INFORMATION |
|
Birch Farms (C & N) LLP is registered in England and Wales. The LLP's registered number and |
registered office address can be found on the General Information page. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
|
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured |
at cost less any accumulated amortisation and any accumulated impairment losses. |
|
|
|
Tangible fixed assets |
|
Land and buildings | - |
|
Plant and machinery etc | - |
|
|
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from |
changes in fair value is recognised in profit or loss. |
|
Stocks |
Stocks are held at valuation prepared in accordance with the conventions set out in the CAAV/RICS |
Stocktaking Guidance Notes. |
|
The valuation has been prepared in accordance with the Inland Revenue Guidance Notes, BEN19, |
amended in accordance with ICAEW guidance on Basic Payment treatment for accounting purposes. |
|
Consumable stores of seeds, fertiliser, chemicals, fuel and sundry stores are valued at invoice price or |
market value if lower. |
|
Crops in store have been valued on a deemed cost basis, which has been calculated at 75% of market |
value. |
|
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
period of the lease. |
|
3. | EMPLOYEE INFORMATION |
|
The average number of employees during the year was
|
Birch Farms (C & N) LLP (Registered number: OC403709) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2019 |
|
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 May 2018 |
and 30 April 2019 |
|
AMORTISATION |
At 1 May 2018 |
|
Charge for year |
|
At 30 April 2019 |
|
NET BOOK VALUE |
At 30 April 2019 |
|
At 30 April 2018 |
|
|
5. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 May 2018 |
|
|
|
Additions |
|
|
|
At 30 April 2019 |
|
|
|
DEPRECIATION |
At 1 May 2018 |
|
|
|
Charge for year |
|
|
|
At 30 April 2019 |
|
|
|
NET BOOK VALUE |
At 30 April 2019 |
|
|
|
At 30 April 2018 |
|
|
|
|
Plant and machinery etc of £227,483 was transferred at net book value from Birch Farms Partnership |
("BFP") on 01 February 2016. |
|
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2018 |
and 30 April 2019 |
|
NET BOOK VALUE |
At 30 April 2019 |
|
At 30 April 2018 |
|
Birch Farms (C & N) LLP (Registered number: OC403709) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2019 |
|
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
|
|
Amounts due from members | 317,078 | 254,477 |
Other debtors |
|
|
VAT |
|
|
Prepayments and accrued income |
|
|
|
|
|
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts (see note 10) |
|
|
Trade creditors |
|
|
Accruals and deferred income |
|
|
|
|
|
9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
£ | £ |
Bank loans (see note 10) |
|
|
|
Amounts falling due in more than five years: |
|
Repayable by instalments |
Bank loans more 5 yr by instal | 1,133,020 | 1,157,224 |
|
10. | LOANS |
|
An analysis of the maturity of loans is given below: |
|
2019 | 2018 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
|
|
Bank loans - less than 1 yr |
|
|
|
|
|
Amounts falling due in more than five years: |
|
Repayable by instalments |
Bank loans more 5 yr by instal | 1,133,020 | 1,157,224 |
Birch Farms (C & N) LLP (Registered number: OC403709) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2019 |
|
11. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
2019 | 2018 |
£ | £ |
Bank loans |
|
|
|
The three AMC loans totalling £1,157,182 are secured against freehold property of an LLP member. |
The loans are at fixed rates between 4.89% and 5.03% and repayable over the period until 2044. |
|
12. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2019 | 2018 |
£ | £ |
Amounts owed to members in respect of profits | 222,324 | 160,860 |
|
Falling due within one year | 222,324 | 160,860 |
|
Loans and other debts due to members rank equally with debts due to unsecured creditors in the event |
of a winding up. |
There is no provision for specific legally enforceable protection afforded to creditors in such an event. |
There are no restrictions or limitations on the ability of the members to reduce the amount of |
'Members' other interests'. |
|
13. | RELATED PARTY DISCLOSURES |
|
Round 69 Settlement - Cottrell Fund is a related party as two members of Birch Farms (C & N) LLP are |
also trustees of Round 69 Settlement. |
|
The balance owed by Round 69 Settlement - Cottrell Fund at the year end was £49,040. |
|
All related party transactions were entered into on a commercial basis. |