Company Registration No. 08853712 (England and Wales)
Skillet Hill Farm Limited
Unaudited accounts
for the year ended 31 January 2024
Skillet Hill Farm Limited
Unaudited accounts
Contents
Skillet Hill Farm Limited
Company Information
for the year ended 31 January 2024
Director
Mr N. C. Thompson
Company Number
08853712 (England and Wales)
Registered Office
103 High Street
Waltham Cross
Hertfordshire
EN8 7AN
Accountants
Brindley Goldstein Ltd
103 High Street
Waltham Cross
EN8 7AN
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Skillet Hill Farm Limited for the year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Skillet Hill Farm Limited for the year ended
31 January 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Skillet Hill Farm Limited, as a body, in accordance with the terms of our engagement letter dated 3 August 2016. Our work has been undertaken solely to prepare for your approval the accounts of Skillet Hill Farm Limited and state those matters that we have agreed to state to the Board of Directors of Skillet Hill Farm Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Skillet Hill Farm Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Skillet Hill Farm Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Skillet Hill Farm Limited. You consider that Skillet Hill Farm Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Skillet Hill Farm Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Brindley Goldstein Ltd
Chartered Accountants
103 High Street
Waltham Cross
EN8 7AN
30 October 2024
Skillet Hill Farm Limited
Statement of financial position
as at 31 January 2024
Tangible assets
9,388,346
9,621,205
Debtors
1,356,750
1,057,760
Cash at bank and in hand
13,308
39,924
Creditors: amounts falling due within one year
(619,617)
(569,276)
Net current assets
770,553
561,020
Total assets less current liabilities
10,158,899
10,182,225
Creditors: amounts falling due after more than one year
(83,333)
(100,000)
Net assets
10,075,566
10,082,225
Called up share capital
3,000,000
3,000,000
Revaluation reserve
5,994,678
5,994,678
Profit and loss account
1,080,888
1,087,547
Shareholders' funds
10,075,566
10,082,225
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 October 2024 and were signed on its behalf by
Mr N. C. Thompson
Director
Company Registration No. 08853712
Skillet Hill Farm Limited
Notes to the Accounts
for the year ended 31 January 2024
Skillet Hill Farm Limited is a private company, limited by shares, registered in England and Wales, registration number 08853712. The registered office is 103 High Street, Waltham Cross, Hertfordshire, EN8 7AN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents rents receivable.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33 1/3% straight line
Motor vehicles
16.6% to 20% each asset assessed independantly
Fixtures & fittings
33 1/3% straight line
Computer equipment
33 1/3% straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Skillet Hill Farm Limited
Notes to the Accounts
for the year ended 31 January 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 February 2023
8,614,000
772,305
1,365,520
103,582
22,733
10,878,140
Additions
-
34,200
218,283
11,000
2,527
266,010
At 31 January 2024
8,614,000
806,505
1,583,803
114,582
25,260
11,144,150
At 1 February 2023
-
246,036
913,182
79,524
18,193
1,256,935
Charge for the year
-
86,477
386,444
23,467
2,481
498,869
At 31 January 2024
-
332,513
1,299,626
102,991
20,674
1,755,804
At 31 January 2024
8,614,000
473,992
284,177
11,591
4,586
9,388,346
At 31 January 2023
8,614,000
526,269
452,338
24,058
4,540
9,621,205
The land and buildings cost £2,619,322 and were revalued on 31 January 2023 to a value of £8,614,000. The revaluation reserve amounts to £5,994,678 and is recorded under Capital and Reserves on the Balance Sheet. If these assets were sold for £8,614,000 a corporation tax liability of £1,138,989 would arise.
Amounts falling due within one year
Trade debtors
310,420
266,457
Other debtors
1,046,330
791,303
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
16,667
16,667
Obligations under finance leases and hire purchase contracts
266,382
-
Trade creditors
156,803
416,467
Taxes and social security
83,302
37,227
Other creditors
30,401
19,150
Loans from directors
16,596
7,166
8
Creditors: amounts falling due after more than one year
2024
2023
Skillet Hill Farm Limited
Notes to the Accounts
for the year ended 31 January 2024
Allotted, called up and fully paid:
3,000,000 Ordinary shares of £1 each
3,000,000
3,000,000
10
Transactions with related parties
The company paid a dividend to Skillet Hill Farm (Holdings) Ltd during the year of £Nil (2023: £2,000).
Mr N. C. Thompson is also a director of Skillet Hill Farm (Holdings) Ltd and owns 100% of the company's share capital.
The company is controlled by Skillet Hill Farm (Holdings) Ltd who own 100% of the company's share capital.
12
Average number of employees
During the year the average number of employees was 14 (2023: 16).