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REGISTERED NUMBER: 10275222 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

School Lane Farm Limited
Trading as
'J S Commercials'

School Lane Farm Limited (Registered number: 10275222)
Trading as 'J S Commercials'






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


School Lane Farm Limited
Trading as 'J S Commercials'

Company Information
for the Year Ended 31 July 2023







DIRECTORS: J Shalliker
Ms V Parkinson





REGISTERED OFFICE: 202 Merlin Park
Ringtail Road
Burscough
Ormskirk
Lancashire
L40 8JY





REGISTERED NUMBER: 10275222 (England and Wales)





ACCOUNTANTS: Sawyer Quine & Co
Chartered Certified Accountants
202 Merlin Park
Ringtail Road
Burscough
Ormskirk
Lancashire
L40 8JY

School Lane Farm Limited (Registered number: 10275222)
Trading as 'J S Commercials'

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 705,475 596,462

CURRENT ASSETS
Debtors 5 187,058 165,972
Cash at bank 30,000 20,066
217,058 186,038
CREDITORS
Amounts falling due within one year 6 357,839 348,876
NET CURRENT LIABILITIES (140,781 ) (162,838 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

564,694

433,624

CREDITORS
Amounts falling due after more than one
year

7

(442,546

)

(329,660

)

PROVISIONS FOR LIABILITIES 9 (103,655 ) (103,313 )
NET ASSETS 18,493 651

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 18,491 649
18,493 651

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

School Lane Farm Limited (Registered number: 10275222)
Trading as 'J S Commercials'

Balance Sheet - continued
31 July 2023


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 by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





J Shalliker - Director


School Lane Farm Limited (Registered number: 10275222)
Trading as 'J S Commercials'

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

School Lane Farm 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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

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 etc - 33% on cost, 25% on cost, 20% on cost and 10% on reducing balance

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

School Lane Farm Limited (Registered number: 10275222)
Trading as 'J S Commercials'

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 790,898
Additions 630,404
Disposals (601,550 )
At 31 July 2023 819,752
DEPRECIATION
At 1 August 2022 194,436
Charge for year 81,743
Eliminated on disposal (161,902 )
At 31 July 2023 114,277
NET BOOK VALUE
At 31 July 2023 705,475
At 31 July 2022 596,462

School Lane Farm Limited (Registered number: 10275222)
Trading as 'J S Commercials'

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 August 2022 643,250
Additions 596,900
Disposals (538,125 )
Transfer to ownership (6,625 )
At 31 July 2023 695,400
DEPRECIATION
At 1 August 2022 148,976
Charge for year 64,415
Eliminated on disposal (142,114 )
Transfer to ownership (1,986 )
At 31 July 2023 69,291
NET BOOK VALUE
At 31 July 2023 626,109
At 31 July 2022 494,274

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 187,058 165,972

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 52,841 5,000
Hire purchase contracts 150,769 182,674
Trade creditors 22,984 40,156
Taxation and social security 16,152 30,387
Other creditors 115,093 90,659
357,839 348,876

School Lane Farm Limited (Registered number: 10275222)
Trading as 'J S Commercials'

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 9,167 14,167
Hire purchase contracts 393,743 265,493
Other creditors 39,636 50,000
442,546 329,660

8. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Hire purchase 544,512 448,167
Invoice finance - 36,000
544,512 484,167

Hire purchase obligations are secured on the assets concerned.

Invoice finance is secured on all remaining assets.

9. PROVISIONS FOR LIABILITIES
31.7.23 31.7.22
£    £   
Deferred taxation 103,655 103,313

Deferred Other
tax provisions
£    £   
Balance at 1 August 2022 103,313 -
Accelerated capital allowances 342 -
Balance at 31 July 2023 103,655 -

10. RELATED PARTY DISCLOSURES

Included within Creditors: - amounts falling due within one year is £679 (2022: - £927) in respect of the balance on the directors' loan account. The directors' loan is provided to the company by the directors on an interest free basis and is repayable on demand.

11. ULTIMATE CONTROLLING PARTY

The company was controlled throughout the year by the company director, J Shalliker.