SHIPTON LANE DAIRIES LIMITED


Directors	RAB, Benedict William
	RAB, Fiona Kirk


Registered Address	Newlands Farm Shipton Lane
	Wigginton
	York
	YO32 2RQ


Registered Number	13467257 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Employee benefits
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Employee benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in accruals in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	50
Plant and machinery	15	-
Fixtures and fittings	15	-

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

Finance leases and hire purchase contracts

Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease

Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement

	Financial instruments
	The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	7		16

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Total
	£	£	£	£
Cost or valuation
At 01 April 24	1,267,888	469,961	75,555	1,813,404
Additions	13,825	207,435	-	221,260
Disposals	(8,828)	(10,241)	(75,555)	(94,624)
At 31 March 25	1,272,885	667,155	-	1,940,040
Depreciation and impairment
At 01 April 24	37,797	102,096	19,132	159,025
Charge for year	30,429	65,357	-	95,786
On disposals	(178)	(1,334)	(25,743)	(27,255)
Other adjustments	5,155	(11,766)	6,611	-
At 31 March 25	73,203	154,353	-	227,556
Net book value
At 31 March 25	1,199,682	512,802	-	1,712,484
At 31 March 24	1,230,091	367,865	56,423	1,654,379

4.	Stocks

	2025	2024
	£	£
Raw materials and consumables	1,454,700	1,105,900
Total	1,454,700	1,105,900

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	181,475	135,407
Other debtors	58,438	136,879
Total	239,913	272,286


	Included in Other debtors is £45,484 (2024 - £91,320) in respect of a deferred tax asset. The deferred tax asset is made up of a liability of £218,188 in respect of accelerated capital allowances and an asset of £263,672 in respect of losses.

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	710,606	721,450
Bank borrowings and overdrafts	651,228	668,235
Finance lease and HP contracts	215,775	163,320
Other creditors	2,756	-
Accrued liabilities and deferred income	58,036	54,495
Total	1,638,401	1,607,500


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Bank borrowings are secured on a fixed and floating charge over all assets.

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	1,324,566	1,384,830
Other creditors	438,417	259,112
Total	1,762,983	1,643,942


	Bank borrowings are secured on a fixed and floating charge over all assets. Hire purchase liabilities are secured over assets to which they relate.

8.	Creditors: amounts due after 5 years
	Included under creditors are amounts repayable by instalments which fall due after five years as follows: Bank borrowings and overdrafts £888,042 (2024, £1,116,839).

9.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	654,191		422,432


	Hire purchase liabilities are secured over assets to which they relate.

10.	Pension commitments
	The pension cost charge represents contributions payable by the company to the fund and amounted to £7,185 (2024 - £4,729).

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		1,712,484		1,654,379
			1,712,484		1,654,379
Current assets
Stocks	4	1,454,700		1,105,900
Debtors	5	239,913		272,286
Current asset investments		62,258		45,736
		1,756,871		1,423,922
Creditors amounts falling due within one year	6	(1,638,401)		(1,607,500)
Net current assets (liabilities)			118,470		(183,578)
Total assets less current liabilities			1,830,954		1,470,801
Creditors amounts falling due after one year	7		(1,762,983)		(1,643,942)
Net assets			67,971		(173,141)
Capital and reserves
Called up share capital			100		100
Profit and loss account			67,871		(173,241)
Shareholders' funds			67,971		(173,141)