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REGISTERED NUMBER: 12510232 (England and Wales)















SILLS FARMING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






SILLS FARMING LIMITED (REGISTERED NUMBER: 12510232)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


SILLS FARMING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A C K Sills
Mrs F M Sills
Mrs J M Sills





REGISTERED OFFICE: Ash Tree Farm
Rodsley
Ashbourne
Derbyshire
DE6 3AL





REGISTERED NUMBER: 12510232 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 London Road
Newark
Nottinghamshire
NG24 1TW

SILLS FARMING LIMITED (REGISTERED NUMBER: 12510232)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1,060,801 680,103

CURRENT ASSETS
Inventories 5 551,264 525,704
Debtors 6 96,677 204,415
Investments 7 171,036 171,036
Cash at bank 458,879 820,650
1,277,856 1,721,805
CREDITORS
Amounts falling due within one year 8 928,662 1,163,276
NET CURRENT ASSETS 349,194 558,529
TOTAL ASSETS LESS CURRENT LIABILITIES 1,409,995 1,238,632

PROVISIONS FOR LIABILITIES 81,861 91,659
NET ASSETS 1,328,134 1,146,973

CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Retained earnings 1,318,134 1,136,973
SHAREHOLDERS' FUNDS 1,328,134 1,146,973

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

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

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 22 October 2024 and were signed on its behalf by:





A C K Sills - Director


SILLS FARMING LIMITED (REGISTERED NUMBER: 12510232)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Sills Farming 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.

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

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 15% on reducing balance

Property, plant and equipment 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.

Inventories
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

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 5 (2023 - 5 ) .

SILLS FARMING LIMITED (REGISTERED NUMBER: 12510232)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 297,156 465,569 762,725
Additions 429,935 10,112 440,047
Disposals - (772 ) (772 )
At 31 March 2024 727,091 474,909 1,202,000
DEPRECIATION
At 1 April 2023 - 82,622 82,622
Charge for year - 58,890 58,890
Eliminated on disposal - (313 ) (313 )
At 31 March 2024 - 141,199 141,199
NET BOOK VALUE
At 31 March 2024 727,091 333,710 1,060,801
At 31 March 2023 297,156 382,947 680,103

5. INVENTORIES

20242023
££
Inventories159,200163,640
Herd392,064362,064
551,264525,704

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 73,160 72,157
Other debtors - 70,748
VAT 23,517 61,510
96,677 204,415

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Unlisted investments 171,036 171,036

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 10,417
Trade creditors 135,672 315,220
Tax 109,919 116,112
Other creditors 7,559 4,980
Directors' current accounts 665,789 706,220
Accruals and deferred income 9,723 10,327
928,662 1,163,276

SILLS FARMING LIMITED (REGISTERED NUMBER: 12510232)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
5,000 A Ordinary £1 5,000 5,000
2,000 B Ordinary £1 2,000 2,000
1,500 C Ordinary £1 1,500 1,500
1,500 D Ordinary £1 1,500 1,500
10,000 10,000