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REGISTERED NUMBER: 12205317 (England and Wales)















ST MILTON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






ST MILTON LIMITED (REGISTERED NUMBER: 12205317)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 7


ST MILTON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: P E D Cooke
A G A Cooke





REGISTERED OFFICE: Larkfleet House
Falcon Way
Bourne
Lincolnshire
PE10 0FF





REGISTERED NUMBER: 12205317 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 All Saints Street
Stamford
Lincolnshire
PE9 2PA

ST MILTON LIMITED (REGISTERED NUMBER: 12205317)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 732,560 1,068,158
Investments 5 562,531 63,876
Investment property 6 409,833 409,833
1,704,924 1,541,867

CURRENT ASSETS
Inventories 100,714 84,598
Debtors 7 586,362 586,078
Cash at bank 460,866 495,391
1,147,942 1,166,067
CREDITORS
Amounts falling due within one year 8 246,788 49,324
NET CURRENT ASSETS 901,154 1,116,743
TOTAL ASSETS LESS CURRENT LIABILITIES 2,606,078 2,658,610

CAPITAL AND RESERVES
Called up share capital 9 2,000 2,000
Retained earnings 2,604,078 2,656,610
SHAREHOLDERS' FUNDS 2,606,078 2,658,610

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 17 March 2025 and were signed on its behalf by:




P E D Cooke - Director



A G A Cooke - Director


ST MILTON LIMITED (REGISTERED NUMBER: 12205317)

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

1. STATUTORY INFORMATION

St Milton 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 as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue
Revenue is the total amount receivable by the company for goods supplied and services provided, excluding Value Added Tax and trade discounts.

Crop sales are recognised on despatch from the farm or from external stores to the customer.

Rental income is recognised in the period to which it relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost and not provided
Plant and machinery - 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 and associates
Investments in subsidiaries and associate undertakings are recognised at cost less impairment.

Investments
Listed investments are recognisied initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if their fair value can be measured reliably. Other investments are measured at cost less impairment.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Inventories
Inventories have been professionally valued by R Longstaff & Co, Chartered Surveyors, Valuers and Auctioneers at the lower of cost and fair value less costs to sell. In respect of crops in store, a deemed cost has been used for valuation purposes.

ST MILTON LIMITED (REGISTERED NUMBER: 12205317)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

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. Accounts 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

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 taxation
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 taxation 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

ST MILTON LIMITED (REGISTERED NUMBER: 12205317)

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

4. PROPERTY, PLANT AND EQUIPMENT
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 October 2023 1,067,347 5,908 1,073,255
Additions 38,829 - 38,829
Disposals (377,244 ) - (377,244 )
At 30 September 2024 728,932 5,908 734,840
DEPRECIATION
At 1 October 2023 3,458 1,639 5,097
Charge for year - 641 641
Eliminated on disposal (3,458 ) - (3,458 )
At 30 September 2024 - 2,280 2,280
NET BOOK VALUE
At 30 September 2024 728,932 3,628 732,560
At 30 September 2023 1,063,889 4,269 1,068,158

5. FIXED ASSET INVESTMENTS

2024 2023
£    £   
Shares in group undertakings 30,000 30,000
Participating interests 9,370 9,370
Other investments not loans 499,161 506
Other loans 24,000 24,000
562,531 63,876

Additional information is as follows:
Shares in Interest
group in Listed Unlisted
undertakings associate investments investments Totals
£    £    £    £    £   
COST OR VALUATION
At 1 October 2023 30,000 9,370 486 20 39,876
Additions - - 496,127 - 496,127
Revaluations - - 2,528 - 2,528
At 30 September 2024 30,000 9,370 499,141 20 538,531
NET BOOK VALUE
At 30 September 2024 30,000 9,370 499,141 20 538,531
At 30 September 2023 30,000 9,370 486 20 39,876

ST MILTON LIMITED (REGISTERED NUMBER: 12205317)

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

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30 September 2024 is represented by:

Shares in Interest
group in Listed Unlisted
undertakings associate investments investments Totals
£    £    £    £    £   
Valuation in 2024 - - 499,141 - 499,141
Cost 30,000 9,370 - 20 39,390
30,000 9,370 499,141 20 538,531
Other
loans
£   
At 1 October 2023
and 30 September 2024 24,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 409,833
NET BOOK VALUE
At 30 September 2024 409,833
At 30 September 2023 409,833

At 30 September 2024, an internal valuation was prepared by the directors. The directors do not believe there has been a material change in the valuation over the original cost. In determining the valuation the directors considered that the yield returned is in line with the average yield for the area taking into account the specification of the properties being let.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 27,773 607
Other debtors 19,937 21,482
Amounts owed by related undertakings 477,026 479,979
Taxation - 5,968
Prepayments and accrued income 61,626 78,042
586,362 586,078

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 34,237 15,976
Amounts owed to group undertakings 183,134 6,104
Other creditors 14,694 11,018
Accruals and deferred income 14,723 16,226
246,788 49,324

ST MILTON LIMITED (REGISTERED NUMBER: 12205317)

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

9. CALLED UP SHARE CAPITAL

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

10. RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £477,026 (2023: £479,979) by related undertakings in which a director/shareholder has a participating interest.

The loans are interest free and repayable on demand.