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REGISTERED NUMBER: 07279539 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

STL Energy Limited

STL Energy Limited (Registered number: 07279539)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STL Energy Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: N Layton
Mrs J K Layton





SECRETARY: N Layton





REGISTERED OFFICE: The Court
Rectory Road
Hampton Bishop
Hereford
HR1 4JU





REGISTERED NUMBER: 07279539 (England and Wales)





ACCOUNTANTS: R J Francis & Co
Suites 1 & 2
Marshall Business Centre
Faraday Road
Hereford
Herefordshire
HR4 9NS

STL Energy Limited (Registered number: 07279539)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,400 3,400
Tangible assets 5 6,023,912 4,850,314
Investments 6 1 1
Investment property 7 30,676,129 30,157,251
36,703,442 35,010,966

CURRENT ASSETS
Stocks 134,500 144,000
Debtors 8 8,859,288 4,204,373
Cash at bank 81,436 90,617
9,075,224 4,438,990
CREDITORS
Amounts falling due within one year 9 5,907,638 3,633,302
NET CURRENT ASSETS 3,167,586 805,688
TOTAL ASSETS LESS CURRENT LIABILITIES 39,871,028 35,816,654

CREDITORS
Amounts falling due after more than one
year

10

(21,880,469

)

(21,203,411

)

PROVISIONS FOR LIABILITIES (2,836,931 ) (2,477,956 )
NET ASSETS 15,153,628 12,135,287

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 5,676,886 5,612,891
Retained earnings 9,476,642 6,522,296
15,153,628 12,135,287

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.

STL Energy Limited (Registered number: 07279539)

Balance Sheet - continued
31 March 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 1 April 2025 and were signed on its behalf by:





N Layton - Director


STL Energy Limited (Registered number: 07279539)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

STL Energy 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 as modified by the revaluation of certain assets.

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 are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

For the entitlements, amortisation is calculated on a straight line basis to the end of the Basic Payment regime.

For the cryptocurrency, amortisation is based on current cryptocurrency value.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 4% on cost and Straight line over 17 years
Plant and machinery - 33% on cost, 15% on reducing balance and 4% on cost
Tractors and vehicles - 25% on reducing balance

Investments in associates
Investments in associate undertakings are recognised at cost.

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.

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

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's Statement of Financial Position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


STL Energy Limited (Registered number: 07279539)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 14 (2023 - 12 ) .

STL Energy Limited (Registered number: 07279539)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 42,749
AMORTISATION
At 1 April 2023
and 31 March 2024 39,349
NET BOOK VALUE
At 31 March 2024 3,400
At 31 March 2023 3,400

5. TANGIBLE FIXED ASSETS
Improvements Tractors
to Plant and and
property machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023 1,145,945 9,608,176 2,169,845 12,923,966
Additions 191,963 1,621,616 391,000 2,204,579
Disposals - (11,940 ) (100,500 ) (112,440 )
At 31 March 2024 1,337,908 11,217,852 2,460,345 15,016,105
DEPRECIATION
At 1 April 2023 265,041 6,541,436 1,267,175 8,073,652
Charge for year 59,763 633,899 323,419 1,017,081
Eliminated on disposal - (7,438 ) (91,102 ) (98,540 )
At 31 March 2024 324,804 7,167,897 1,499,492 8,992,193
NET BOOK VALUE
At 31 March 2024 1,013,104 4,049,955 960,853 6,023,912
At 31 March 2023 880,904 3,066,740 902,670 4,850,314

Included in the above are assets held on hire purchase with a net book value of £932,529 (2023: £722,834)

STL Energy Limited (Registered number: 07279539)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 April 2023
and 31 March 2024 1
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 30,157,251
Additions 433,551
Revaluations 85,327
At 31 March 2024 30,676,129
NET BOOK VALUE
At 31 March 2024 30,676,129
At 31 March 2023 30,157,251

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 30,676,129

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 23,625,826 22,673,397

Investment properties were valued on an open market basis basis on 31 March 2024 by the directors. .

8. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 4,655,808 3,066,968
Other debtors 4,196,462 1,130,387
8,852,270 4,197,355

STL Energy Limited (Registered number: 07279539)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. DEBTORS - continued
2024 2023
£    £   
Amounts falling due after more than one year:
Other debtors 7,018 7,018

Aggregate amounts 8,859,288 4,204,373

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,941,039 1,377,909
Hire purchase contracts 467,728 398,758
Trade creditors 1,258,436 951,250
Taxation and social security 860,522 724,635
Other creditors 379,913 180,750
5,907,638 3,633,302

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 21,301,726 20,888,125
Hire purchase contracts 578,743 315,286
21,880,469 21,203,411

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 8,162,326 15,180,764

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 24,242,765 22,266,034
Hire purchase contracts 1,046,471 714,044
25,289,236 22,980,078

The bank borrowings are secured by a debenture over the assets of the company; a legal charge over 233 acres of freehold land at Tarrington, Verzons, Shucknall, Monksbury and Ashperton; a legal charge over the land and property owned by ST Layton and Sons; a legal charge over land at Field Farm, Hampton Bishop, land at Tupsley Court, freehold property at Whitwick Court, land at Bach Farm, land at Folly Farm and freehold land at Callow Hill, and land at Upleadon Court.

Hire purchase liabilities are secured against the relevant assets.

STL Energy Limited (Registered number: 07279539)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
N Layton and Mrs J K Layton
Balance outstanding at start of year 20,795 64,319
Amounts advanced 2,300,875 22,224
Amounts repaid (2,321,579 ) (65,748 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 91 20,795

Interest has been charged at the official rate.

13. RELATED PARTY DISCLOSURES

One of the directors is a partner in a partnership which had transactions in the year with the company and
balances at the year end as detailed below.

Included in trade debtors is £3,072,101 (2023: £1,739,839) due from the partnership.

Included in other creditors is an intercompany loan of £37,880 due from the partnership (2023: £15,121 due to the partnership). Interest was charged on the loan at the official rate of £90 (2023: £77)

Included in trade creditors is £520,042 (2023: £319,382) due to the partnership.

Included in other debtors are loans made to companies under common control of £2,334,779 (2023: £63,408).

During the year crop rents of £348,250 (2023: £307,125), contracting charges of £1,119,442. (2023: £922,640) and electricity charges £94,500 (2023: £NIL) were charged by the company to the partnership.

The company's bank loans are secured against land and property owned by a partnership in which a director is a partner.