F D Farming LLP - Accounts to registrar (filleted) - small 22.3

F D Farming LLP - Accounts to registrar (filleted) - small 22.3

F D FARMING LLP - Company Information

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REGISTERED NUMBER: OC435893 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 5 MARCH 2021 TO 31 MARCH 2022

FOR

F D FARMING LLP
F D FARMING LLP (REGISTERED NUMBER: OC435893)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 5 MARCH 2021 TO 31 MARCH 2022










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3


F D FARMING LLP

GENERAL INFORMATION
FOR THE PERIOD 5 MARCH 2021 TO 31 MARCH 2022







DESIGNATED MEMBERS: O J Field
M J Dibble





REGISTERED OFFICE: 4 Mount Ephraim Road
Tunbridge Wells
Kent
TN1 1EE





REGISTERED NUMBER: OC435893 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
Riverside House
40-46 High Street
Maidstone
Kent
ME14 1JH
Page 1
F D FARMING LLP (REGISTERED NUMBER: OC435893)

BALANCE SHEET
31 MARCH 2022

Notes £    £   
FIXED ASSETS
Tangible assets 4 105,191

CURRENT ASSETS
Debtors 5 66,254

CREDITORS
Amounts falling due within one year 6 90,744
NET CURRENT LIABILITIES (24,490 )
TOTAL ASSETS LESS CURRENT LIABILITIES 80,701

CREDITORS
Amounts falling due after more than one year 7 80,701
NET LIABILITIES ATTRIBUTABLE TO
MEMBERS
-

LOANS AND OTHER DEBTS DUE TO
MEMBERS
-

TOTAL MEMBERS' INTERESTS
Amounts due from members 5 (36,446 )

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 period 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 Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 5 December 2022 and were signed by:





O J Field - Designated member

The notes form part of these financial statements

Page 2
F D FARMING LLP (REGISTERED NUMBER: OC435893)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 5 MARCH 2021 TO 31 MARCH 2022


1. STATUTORY INFORMATION

F D Farming 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

Going concern
Accounting standards require the members to consider the appropriateness of the going concern basis when preparing the financial statements. The members confirm that they consider the going concern basis remains appropriate. The members believe that the LLP has sufficient resources to continue in operational existence for the foreseeable future. The members believe this to be the case as the company has the financial support of the members. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Having regard to the above, the members believe it is appropriate to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income is recognised in the accounting period in which the LLP obtains the right to consideration in exchange for its performance.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on cost

Financial instruments
The LLP only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more then 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known accounts of cash with no significant risk of change in value.

3. EMPLOYEE INFORMATION

The average number of employees during the period was 2 .

Page 3 continued...
F D FARMING LLP (REGISTERED NUMBER: OC435893)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 5 MARCH 2021 TO 31 MARCH 2022


4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
Additions 111,758
At 31 March 2022 111,758
DEPRECIATION
Charge for period 6,567
At 31 March 2022 6,567
NET BOOK VALUE
At 31 March 2022 105,191

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
Additions 48,775
At 31 March 2022 48,775
DEPRECIATION
Charge for period 2,501
At 31 March 2022 2,501
NET BOOK VALUE
At 31 March 2022 46,274

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 26,287
Other debtors 39,967
66,254

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Bank loans and overdrafts (see note 8) 34,887
Hire purchase contracts 10,231
Trade creditors 44,126
Other creditors 1,500
90,744

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
£   
Bank loans (see note 8) 49,681
Hire purchase contracts 31,020
80,701

Page 4 continued...
F D FARMING LLP (REGISTERED NUMBER: OC435893)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 5 MARCH 2021 TO 31 MARCH 2022


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

During the period, the LLP obtained a £70,000 fixed term loan. Interest is payable on the loan at 9.93% per annum. The loan and interest is repayable in 60 months from the date of first drawdown through monthly instalments of £1,516. The loan is secured by personal guarantees of the members.

Hire purchase loans are secured on the assets to which they relate.

8. LOANS

An analysis of the maturity of loans is given below:

£   
Amounts falling due within one year or on demand:
Bank overdrafts 22,316
Bank loans - less than 1 yr 12,571
34,887

Amounts falling due between one and two years:
Bank loans - 1-2 years 13,878

Amounts falling due between two and five years:
Bank loans - 2-5 years 35,803

Page 5