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REGISTERED NUMBER: 12202441 (England and Wales)















SIX LIMES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






SIX LIMES LIMITED (REGISTERED NUMBER: 12202441)






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 4


SIX LIMES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: A G A Cooke
Mrs A E Ison
H T A Cooke





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





REGISTERED NUMBER: 12202441 (England and Wales)





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

SIX LIMES LIMITED (REGISTERED NUMBER: 12202441)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 3,529,271 3,523,630
Investments 5 1,080,164 549,692
Investment property 6 550,000 550,000
5,159,435 4,623,322

CURRENT ASSETS
Inventories 532,689 575,669
Debtors 7 122,833 419,588
Cash at bank 924,611 952,036
1,580,133 1,947,293
CREDITORS
Amounts falling due within one year 8 2,208,348 2,224,147
NET CURRENT LIABILITIES (628,215 ) (276,854 )
TOTAL ASSETS LESS CURRENT LIABILITIES 4,531,220 4,346,468

PROVISIONS FOR LIABILITIES 137,500 137,500
NET ASSETS 4,393,720 4,208,968

CAPITAL AND RESERVES
Called up share capital 9 1,739 1,739
Merger reserve 10 - 10,649,678
Fair value reserve 10 137,500 137,500
Retained earnings 10 4,254,481 (6,579,949 )
SHAREHOLDERS' FUNDS 4,393,720 4,208,968

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.

SIX LIMES LIMITED (REGISTERED NUMBER: 12202441)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 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 26 March 2025 and were signed on its behalf by:





A G A Cooke - Director


SIX LIMES LIMITED (REGISTERED NUMBER: 12202441)

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

1. STATUTORY INFORMATION

Six Limes 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.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost, 15% on cost and 4% on cost

Investments in subsidiaries
Investments in subsidiaries and associate undertakings are recognised at cost less impairment.

Investment property
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the income statement and the revaluation reserve. No depreciation is provided in respect of investment properties.

The aggregate surplus on re-measurement of investment properties, net of associated deferred tax, is transferred to a separate non-distributable fair value reserve in order to assist with the identification of profits available for distribution.

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.

SIX LIMES LIMITED (REGISTERED NUMBER: 12202441)

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 method.

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.

Basic farm payment
The Basic Farm Payment is recognised in the financial statements in accordance with current H. M. Revenue & Customs guidance.

Grants
Government grants in respect of capital expenditure are credited to a deferred income account and are released to the profit and loss account over the expected useful lives of the relevant assets.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Investments
Other fixed asset investments represent long term investments and are stated at fair value or cost less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 1 ) .

SIX LIMES LIMITED (REGISTERED NUMBER: 12202441)

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

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 3,480,691 55,746 3,536,437
Additions - 16,485 16,485
At 30 September 2024 3,480,691 72,231 3,552,922
DEPRECIATION
At 1 October 2023 6,280 6,527 12,807
Charge for year 4,183 6,661 10,844
At 30 September 2024 10,463 13,188 23,651
NET BOOK VALUE
At 30 September 2024 3,470,228 59,043 3,529,271
At 30 September 2023 3,474,411 49,219 3,523,630

5. FIXED ASSET INVESTMENTS

2024 2023
£    £   
Shares in group undertakings 1 1
Other investments not loans 1,040,163 509,691
Other loans 40,000 40,000
1,080,164 549,692

Additional information is as follows:
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 October 2023 1 509,691 509,692
Additions - 497,860 497,860
Revaluations - 32,612 32,612
At 30 September 2024 1 1,040,163 1,040,164
NET BOOK VALUE
At 30 September 2024 1 1,040,163 1,040,164
At 30 September 2023 1 509,691 509,692

Cost or valuation at 30 September 2024 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2024 - 1,040,163 1,040,163
Cost 1 - 1
1 1,040,163 1,040,164

SIX LIMES LIMITED (REGISTERED NUMBER: 12202441)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Other
loans
£   
At 1 October 2023
and 30 September 2024 40,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 550,000
NET BOOK VALUE
At 30 September 2024 550,000
At 30 September 2023 550,000

At 30 September 2024, an internal valuation was prepared by the director. The director does not believe there has been a material change in the valuation over the original cost. In determining the valuation the director 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 54,847 94,207
Other debtors 18,009 275,083
Amounts owed by related
undertakings 179 179
Prepayments and accrued income 49,798 50,119
122,833 419,588

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 34,046 26,641
Taxation 62,203 -
Social security and other taxes 127,283 131,168
Other creditors - 567
Amounts owed to related
undertakings 1,846,301 1,847,910
Directors' current accounts 39,530 39,529
Accruals and deferred income 98,985 178,332
2,208,348 2,224,147

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,738,739 Ordinary £0.00 1 1,739 1,739

SIX LIMES LIMITED (REGISTERED NUMBER: 12202441)

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

10. RESERVES
Fair
Retained Merger value
earnings reserve reserve Totals
£    £    £    £   

At 1 October 2023 (6,579,949 ) 10,649,678 137,500 4,207,229
Profit for the year 184,752 - - 184,752
Transfer of merger reserve 10,649,678 (10,649,678 ) - -
At 30 September 2024 4,254,481 - 137,500 4,391,981

The aggregate surplus on re-measurement of investment properties net of associated deferred tax, is transferred to a separate non-distributable fair value reserve in order to assist with the identification of profits available for distribution.

The merger reserve has been transferred to retained earnings on write down of the investment in subsidiary to which it relates and that subsidiary being wound-up.

11. RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £179 (2023: £179) by related undertakings and owed £1,846,301 (2023: £1,847,910) to related undertakings in which the directors/shareholders have a participating interest.

The loans are interest free and repayable on demand.