Mount St John Equestrian LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC382881 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

MOUNT ST JOHN EQUESTRIAN LLP

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

2,073,476

2,197,175

CURRENT ASSETS

Stocks

3,458,462

3,029,689

Debtors

5

5,128,319

4,730,113

Cash at bank

35,137

298,534

8,621,918

8,058,336

CREDITORS

Amounts falling due within one year

6

173,024

182,371

NET CURRENT ASSETS

8,448,894

7,875,965

TOTAL ASSETS LESS CURRENT LIABILITIES

10,522,370

10,073,140

CREDITORS

Amounts falling due after more than one year

7

32,661

42,640

NET ASSETS ATTRIBUTABLE TO MEMBERS

10,489,709

10,030,500

LOANS AND OTHER DEBTS DUE TO MEMBERS

-

-

MEMBERS' OTHER INTERESTS

Capital accounts

11,175,751

10,345,615

Other reserves

(686,042

)

(315,115

)

10,489,709

10,030,500

TOTAL MEMBERS' INTERESTS

Members' other interests

10,489,709

10,030,500

Amounts due from members

5

(4,960,669

)

(4,645,554

)

5,529,040

5,384,946

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2022.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 6 August 2022 and were signed by:

Mrs J Blundell - Designated member

1.	STATUTORY INFORMATION

Mount St John Equestrian LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number:

OC382881

Registered office:

Mount St John

Felixkirk

Thirsk

North Yorkshire

YO7 2DT

The presentation currency of the financial statements is the Pound Sterling, which is the functional currency of the company, rounded to the nearest £1.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fencing and arena surfaces

-

10% on cost

Leasehold improvements

-

4% on cost

Equipment

-

25% on reducing balance

Motor vehicles and horse boxes

-

15% on reducing balance

All fixed assets are originally recorded at cost or market value for assets acquired before formation of the LLP.

Government grants

Government grant income is recognised under the accruals model.

Grant income in respect of the Job Retention Scheme is recognised in the period to which the underlying furloughed staff costs relate.

Grant income in respect of the Business Support Scheme is recognised in the period in which the income is received.

Stocks

Stocks are valued at the lower of cost and net realisable value. Cost is measured at invoice cost plus costs of keep. Net realisable value is determined by best estimated value less the estimated sale costs.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 10 (2021 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Motor

Fencing

vehicles

and arena

Leasehold

and horse

surfaces

improvements

Equipment

boxes

Totals

£

£

£

£

£

COST

At 1 April 2021

167,398

2,351,940

207,590

664,541

3,391,469

Additions

8,191

7,420

26,087

-

41,698

At 31 March 2022

175,589

2,359,360

233,677

664,541

3,433,167

DEPRECIATION

At 1 April 2021

22,510

589,638

146,594

435,552

1,194,294

Charge for year

16,986

94,350

19,713

34,348

165,397

At 31 March 2022

39,496

683,988

166,307

469,900

1,359,691

NET BOOK VALUE

At 31 March 2022

136,093

1,675,372

67,370

194,641

2,073,476

At 31 March 2021

144,888

1,762,302

60,996

228,989

2,197,175

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

17,455

34,841

Amounts due from members

4,960,669

4,645,554

Other debtors

106,596

18,481

Prepayments and accrued income

43,599

31,237

5,128,319

4,730,113

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans and overdrafts

9,980

8,078

Trade creditors

92,854

73,695

VAT

1,216

33,574

Accruals and deferred income

68,974

67,024

173,024

182,371

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans - 1-5 years

32,661

40,868

Bank loans more 5 yr by instal

-

1,772

32,661

42,640

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

1,772

8.	LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu in relation to other creditors.