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REGISTERED NUMBER: 14398960 (England and Wales)












Unaudited Financial Statements

for the Period

1 January 2023 to 31 March 2024

for

SDL Pellets Limited

SDL Pellets Limited (Registered number: 14398960)






Contents of the Financial Statements
for the Period 1 January 2023 to 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SDL Pellets Limited

Company Information
for the Period 1 January 2023 to 31 March 2024







Directors: M Dearn
S D Launchbury





Registered office: Stanleys Quarry
Westington Hill
Chipping Campden
United Kingdom
GL55 6EG





Registered number: 14398960 (England and Wales)





Accountants: Crowthers
The Courtyard
19 High Street
Pershore
Worcestershire
WR10 1AA

SDL Pellets Limited (Registered number: 14398960)

Balance Sheet
31 March 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 1,145

CURRENT ASSETS
Stocks 393,321
Debtors 5 3,423,010
Cash at bank 53,932
3,870,263
CREDITORS
Amounts falling due within one year 6 3,358,521
NET CURRENT ASSETS 511,742
TOTAL ASSETS LESS CURRENT
LIABILITIES

512,887

CREDITORS
Amounts falling due after more than one year 7 1,250,500
NET LIABILITIES (737,613 )

CAPITAL AND RESERVES
Called up share capital 10 1
Retained earnings (737,614 )
SHAREHOLDERS' FUNDS (737,613 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 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.

SDL Pellets Limited (Registered number: 14398960)

Balance Sheet - continued
31 March 2024


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 2 August 2024 and were signed on its behalf by:





S D Launchbury - Director


SDL Pellets Limited (Registered number: 14398960)

Notes to the Financial Statements
for the Period 1 January 2023 to 31 March 2024

1. STATUTORY INFORMATION

SDL Pellets 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.
Plant and machinery - 25% on reducing balance

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 are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

SDL Pellets Limited (Registered number: 14398960)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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. Amounts 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.
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.


SDL Pellets Limited (Registered number: 14398960)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Foreign currencies
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.

Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

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.

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.

Going concern
The financial statements have been prepared on a going concern basis as the directors intend to continue to support the company. Support has been provided by a company associated with the directors of this company and this support will continue for the foreseeable future.

The directors believe that with the support of the associated company, this company is well placed to manage its financing and other business risks satisfactorily, and there is a reasonable expectation that the company will have adequate resources to continue in operation for at least 12 months. They therefore consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements.

The financial statements do not include any adjustments that would result from the withdrawal of the directors support.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 19 .

SDL Pellets Limited (Registered number: 14398960)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
Cost
Additions 1,665
At 31 March 2024 1,665
Depreciation
Charge for period 520
At 31 March 2024 520
Net book value
At 31 March 2024 1,145

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 994,652
Amounts owed by associates 2,341,079
Other debtors 87,279
3,423,010

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 426,879
Amounts owed to associates 2,707,569
Taxation and social security 168,946
Other creditors 55,127
3,358,521

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Amounts owed to associates 1,250,500

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
£   
Within one year 306,145
Between one and five years 1,071,509
1,377,654

SDL Pellets Limited (Registered number: 14398960)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 31 March 2024

9. SECURED DEBTS

The company had a charge that was satisfied on 20 June 2024 to Velocity Bridging Limited for a loan outstanding for part of the year. These debts have now been transferred to another company owned by one of the directors.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
100 Ordinary 0.01 1

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other creditors is £15,524 owed to the Director's of the company, these loans are unsecured, interest free and repayable on demand.