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REGISTERED NUMBER: 11883913 (England and Wales)















C.D. SLY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2023






C.D. SLY LIMITED (REGISTERED NUMBER: 11883913)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


C.D. SLY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 5 APRIL 2023







DIRECTORS: Mr C D Sly
Mrs M M Sly





REGISTERED OFFICE: The Manor House
Deeping St Nicholas
Spalding
Lincolnshire
PE11 3DH





REGISTERED NUMBER: 11883913 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR

C.D. SLY LIMITED (REGISTERED NUMBER: 11883913)

STATEMENT OF FINANCIAL POSITION
5 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 5,464 -
5,464 -

CURRENT ASSETS
Valuation 114,348 90,318
Debtors 6 165,468 185,718
Cash at bank 125,182 26,918
404,998 302,954
CREDITORS
Amounts falling due within one year 7 66,716 133,846
NET CURRENT ASSETS 338,282 169,108
TOTAL ASSETS LESS CURRENT LIABILITIES 343,746 169,108

PROVISIONS FOR LIABILITIES 1,366 -
NET ASSETS 342,380 169,108

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 342,280 169,008
SHAREHOLDERS' FUNDS 342,380 169,108

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 26 October 2023 and were signed on its behalf by:





Mr C D Sly - Director


C.D. SLY LIMITED (REGISTERED NUMBER: 11883913)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

1. STATUTORY INFORMATION

C.D. Sly Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of farm crops, tanks and area aid excluding value added tax.

Sales of farm crops and tanks are recognised upon despatch. The Basic Farm Payment is recognised in the financial statements in accordance with current H.M Revenue & Customs guidance.

Intangible assets
Intangible assets consist of entitlements to the basic payment. The entitlements are recognised at fair value and written off on a straight line basis over the period to 31 December 2020 when the scheme ends.

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

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks have been valued by professional valuers in accordance with HS232 Farm Stock Valuation

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


C.D. SLY LIMITED (REGISTERED NUMBER: 11883913)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 6 April 2022
and 5 April 2023 9,064
AMORTISATION
At 6 April 2022
and 5 April 2023 9,064
NET BOOK VALUE
At 5 April 2023 -
At 5 April 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 6,150
At 5 April 2023 6,150
DEPRECIATION
Charge for year 686
At 5 April 2023 686
NET BOOK VALUE
At 5 April 2023 5,464

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 123,275 67,167
Other debtors 42,193 118,551
165,468 185,718

C.D. SLY LIMITED (REGISTERED NUMBER: 11883913)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 672 3,157
Taxation and social security 39,212 31,756
Other creditors 26,832 98,933
66,716 133,846

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100