Sills Farming Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 12510232 (England and Wales)

SILLS FARMING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

A C K Sills

F M Sills

J M Sills

REGISTERED OFFICE:

Ash Tree Farm

Rodsley

Ashbourne

Derbyshire

DE6 3AL

REGISTERED NUMBER:

12510232 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

14 London Road

Newark

Nottinghamshire

NG24 1TW

FIXED ASSETS

Property, plant and equipment

4

1,158,987

1,060,801

Investment property

5

272,148

-

1,431,135

1,060,801

CURRENT ASSETS

Inventories

6

540,094

551,264

Debtors

7

148,629

96,677

Investments

8

182,100

171,036

Cash at bank

195,217

458,879

1,066,040

1,277,856

CREDITORS

Amounts falling due within one year

9

579,237

928,662

NET CURRENT ASSETS

486,803

349,194

TOTAL ASSETS LESS CURRENT LIABILITIES

1,917,938

1,409,995

CREDITORS

Amounts falling due after more than one year

10

(20,030

)

-

PROVISIONS FOR LIABILITIES

(107,975

)

(81,861

)

NET ASSETS

1,789,933

1,328,134

CAPITAL AND RESERVES

Called up share capital

12

10,000

Retained earnings

1,779,933

1,318,134

SHAREHOLDERS' FUNDS

1,789,933

1,328,134

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 23 October 2025 and were signed on its behalf by:

A C K Sills - Director

1.	STATUTORY INFORMATION

Sills Farming 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.

Revenue

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

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

not provided

Plant and machinery etc

-

15% on reducing balance

Property, plant and equipment 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.

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 are valued at the lower of cost and net realisable value, 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

Hire purchase liabilities are secured on the assets to which they relate

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 6 (2024 - 5 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 April 2024

727,091

474,909

1,202,000

Additions

-

157,364

Disposals

-

(8,387

)

(8,387

)

At 31 March 2025

727,091

623,886

1,350,977

DEPRECIATION

At 1 April 2024

-

141,199

Charge for year

-

54,936

Eliminated on disposal

-

(4,145

)

(4,145

)

At 31 March 2025

-

191,990

NET BOOK VALUE

At 31 March 2025

727,091

431,896

1,158,987

At 31 March 2024

727,091

333,710

1,060,801

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

272,148

At 31 March 2025

272,148

NET BOOK VALUE

At 31 March 2025

272,148

6.	INVENTORIES

2024

2023

£

Inventories

159,200

163,640

Herd

392,064

362,064

551,264

525,704

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

107,489

73,160

VAT

39,654

23,517

Prepayments

1,486

-

148,629

96,677

8.	CURRENT ASSET INVESTMENTS

31.3.25

31.3.24

£

Unlisted investments

182,100

171,036

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Hire purchase contracts

10,094

-

Trade creditors

159,717

135,672

Tax

84,772

109,919

Other creditors

7,739

7,559

Directors' current accounts

303,333

665,789

Accruals and deferred income

13,582

9,723

579,237

928,662

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

Hire purchase contracts

20,030

-

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

Hire purchase contracts

30,124

-

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

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

5,000

A Ordinary

£1

5,000

2,000

B Ordinary

£1

2,000

1,500

C Ordinary

£1

1,500

D Ordinary

£1

1,500

10,000