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REGISTERED NUMBER: 00500602 (England and Wales)















SLEAFORD FARMING COMPANY

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024






SLEAFORD FARMING COMPANY (REGISTERED NUMBER: 00500602)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


SLEAFORD FARMING COMPANY

COMPANY INFORMATION
FOR THE YEAR ENDED 5 APRIL 2024







DIRECTORS: J W H Brown
R M L Brown





SECRETARY: R M L Brown





REGISTERED OFFICE: 18 Northgate
Sleaford
Lincolnshire
NG34 7BJ





BUSINESS ADDRESS: Manor Farm
39 Town Road
Quarrington
Sleaford
Lincolnshire
NG34 8RS





REGISTERED NUMBER: 00500602 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ

SLEAFORD FARMING COMPANY (REGISTERED NUMBER: 00500602)

STATEMENT OF FINANCIAL POSITION
5 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 168,035 169,473
Investments 5 113 113
168,148 169,586

CURRENT ASSETS
Debtors 6 148,037 223,922
Cash at bank and in hand 314 210,877
148,351 434,799
CREDITORS
Amounts falling due within one year 7 293,486 510,340
NET CURRENT LIABILITIES (145,135 ) (75,541 )
TOTAL ASSETS LESS CURRENT LIABILITIES 23,013 94,045

CREDITORS
Amounts falling due after more than one year 8 (33,048 ) (35,789 )

PROVISIONS FOR LIABILITIES (1,084 ) (1,283 )
NET (LIABILITIES)/ASSETS (11,119 ) 56,973

CAPITAL AND RESERVES
Called up share capital 10 5,000 5,000
Retained earnings (16,119 ) 51,973
SHAREHOLDERS' FUNDS (11,119 ) 56,973

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 3 January 2025 and were signed on its behalf by:




J W H Brown - Director


SLEAFORD FARMING COMPANY (REGISTERED NUMBER: 00500602)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

1. STATUTORY INFORMATION

Sleaford Farming Company is a private company , 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on reducing balance and not provided
Plant and machinery etc - 25% on reducing balance and 15% 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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Group accounts
The company has not prepared group accounts as it qualifies as a small group and as such has taken advantage of exemption from preparing group accounts under section 383 Companies Act 2006.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

SLEAFORD FARMING COMPANY (REGISTERED NUMBER: 00500602)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 6 April 2023
and 5 April 2024 256,956 134,740 391,696
DEPRECIATION
At 6 April 2023 94,233 127,990 222,223
Charge for year 394 1,044 1,438
At 5 April 2024 94,627 129,034 223,661
NET BOOK VALUE
At 5 April 2024 162,329 5,706 168,035
At 5 April 2023 162,723 6,750 169,473

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 6 April 2023
and 5 April 2024 102 11 113
NET BOOK VALUE
At 5 April 2024 102 11 113
At 5 April 2023 102 11 113

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 148,037 223,922

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,152 5,152
Trade creditors 13,356 3,086
Taxation and social security 105,416 99,317
Other creditors 169,562 402,785
293,486 510,340

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 33,048 35,789

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 11,091 13,832

SLEAFORD FARMING COMPANY (REGISTERED NUMBER: 00500602)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 145,184 120,000

Other loans are secured by a legal charge over land at Quarrington, Sleaford, Lincolnshire and by personal guarantees of the directors.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
5,000 Ordinary £1 5,000 5,000