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REGISTERED NUMBER: 08399815 (England and Wales)















SKELTON FARMS (PONTON) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






SKELTON FARMS (PONTON) LIMITED (REGISTERED NUMBER: 08399815)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6


SKELTON FARMS (PONTON) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: D G Skelton
J W Skelton





REGISTERED OFFICE: The Grange
Little Ponton
Grantham
Lincolnshire
NG33 5BP





REGISTERED NUMBER: 08399815 (England and Wales)





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

SKELTON FARMS (PONTON) LIMITED (REGISTERED NUMBER: 08399815)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,242,883 997,312
1,242,883 997,312

CURRENT ASSETS
Valuation 262,090 380,059
Debtors 6 411,837 331,192
Cash in hand 300 5,568
674,227 716,819
CREDITORS
Amounts falling due within one year 7 876,193 900,339
NET CURRENT LIABILITIES (201,966 ) (183,520 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,040,917 813,792

CREDITORS
Amounts falling due after more than one year 8 (192,038 ) (52,084 )

PROVISIONS FOR LIABILITIES (304,515 ) (244,989 )
NET ASSETS 544,364 516,719

CAPITAL AND RESERVES
Called up share capital 10 2,000 2,000
Retained earnings 542,364 514,719
SHAREHOLDERS' FUNDS 544,364 516,719

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

SKELTON FARMS (PONTON) LIMITED (REGISTERED NUMBER: 08399815)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 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 14 January 2025 and were signed on its behalf by:





D G Skelton - Director


SKELTON FARMS (PONTON) LIMITED (REGISTERED NUMBER: 08399815)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Skelton Farms (Ponton) 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.

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

Intangible assets
Intangible assets consist of entitlements to the basic payment. The entitlements were recognised at fair value and written off on a straight line basis over the period to 31 December 2019 when the scheme ended.

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 etc - 25% on reducing balance, 15% on reducing balance, 10% on cost and 10% 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.

Inventories
Inventories are valued at the lower of cost and fair value less costs to complete and sell, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

SKELTON FARMS (PONTON) LIMITED (REGISTERED NUMBER: 08399815)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. INTANGIBLE FIXED ASSETS
Purchased
Entitlements entitlements Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 25,599 1,390 26,989
AMORTISATION
At 1 July 2023
and 30 June 2024 25,599 1,390 26,989
NET BOOK VALUE
At 30 June 2024 - - -
At 30 June 2023 - - -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 1,365,269
Additions 627,605
Disposals (315,177 )
At 30 June 2024 1,677,697
DEPRECIATION
At 1 July 2023 367,957
Charge for year 187,573
Eliminated on disposal (120,716 )
At 30 June 2024 434,814
NET BOOK VALUE
At 30 June 2024 1,242,883
At 30 June 2023 997,312

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 370,691 326,629
Other debtors 41,146 4,563
411,837 331,192

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 95,176 93,469
Hire purchase contracts 132,508 79,813
Trade creditors 69,904 93,391
Taxation and social security 7,534 72,195
Other creditors 571,071 561,471
876,193 900,339

SKELTON FARMS (PONTON) LIMITED (REGISTERED NUMBER: 08399815)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 10,217 20,896
Hire purchase contracts 181,821 31,188
192,038 52,084

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 84,517 83,469
Hire purchase contracts 314,329 111,001
398,846 194,470

Bank overdraft is secured on the assets of the company.

Hire purchase liabilities are secured on the asset to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,000 Ordinary £1 2,000 2,000