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REGISTERED NUMBER: 08156495 (England and Wales)















Financial Statements for the Year Ended 31 July 2023

for

Robin Brice Enterprises Ltd

Robin Brice Enterprises Ltd (Registered number: 08156495)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Robin Brice Enterprises Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTORS: R D Brice
Mrs J E Brice





SECRETARY: R D Brice





REGISTERED OFFICE: Old Estate Office, Lodge Farm
Gawdy Lane
Redenhall
Harleston
Norfolk
IP20 9NY





REGISTERED NUMBER: 08156495 (England and Wales)





ACCOUNTANTS: Passmore Weeks & Richardson
A Xeinadin Company
Old Estate Office, Lodge Farm
Gawdy Lane, Redenhall
Harleston
Norfolk
IP20 9NY

Robin Brice Enterprises Ltd (Registered number: 08156495)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,000,024 833,879
Investments 5 97,852 77,500
1,097,876 911,379

CURRENT ASSETS
Stocks 23,098 18,660
Debtors 6 51,147 112,186
Cash at bank - 10,626
74,245 141,472
CREDITORS
Amounts falling due within one year 7 578,272 506,659
NET CURRENT LIABILITIES (504,027 ) (365,187 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

593,849

546,192

CREDITORS
Amounts falling due after more than one
year

8

(235,486

)

(159,765

)

PROVISIONS FOR LIABILITIES - (9,306 )
NET ASSETS 358,363 377,121

CAPITAL AND RESERVES
Called up share capital 210 210
Share premium 349,950 349,950
Retained earnings 8,203 26,961
SHAREHOLDERS' FUNDS 358,363 377,121

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

Robin Brice Enterprises Ltd (Registered number: 08156495)

Balance Sheet - continued
31 July 2023


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 24 April 2024 and were signed on its behalf by:





R D Brice - Director


Robin Brice Enterprises Ltd (Registered number: 08156495)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Robin Brice Enterprises Ltd 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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 31 July 2023 are the first that are prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with FRS 105, the date of transition to FRS 102 Section 1A is 1 August 2021.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - at varying rates on cost
Fencing - 5% on cost
Plant and machinery - 10% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 10% on reducing balance

The land element of freehold property is not depreciated where it is considered to be carried at or below its estimated residual value.

The beef suckler herd is maintained such that its carrying value is at or below its estimated residual value.

Stocks
Stocks 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 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.

Robin Brice Enterprises Ltd (Registered number: 08156495)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Investments in joint ventures
Investments in joint ventures are measured at fair value with changes in fair value recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2022 715,669 193,571 909,240
Additions 114,005 81,853 195,858
Disposals - (27,745 ) (27,745 )
At 31 July 2023 829,674 247,679 1,077,353
DEPRECIATION
At 1 August 2022 38,765 36,596 75,361
Charge for year 7,095 10,314 17,409
Eliminated on disposal - (15,441 ) (15,441 )
At 31 July 2023 45,860 31,469 77,329
NET BOOK VALUE
At 31 July 2023 783,814 216,210 1,000,024
At 31 July 2022 676,904 156,975 833,879

Included in fixed assets are items which have been financed by Hire Purchase or Finance Lease. The net book value of these items at 31 July 2023 was £126,810 (2022: £8,804) and the amount charged in the accounts for depreciation was £1,312 (2022: £2,935).

5. FIXED ASSET INVESTMENTS
Interest
in joint
venture
£   
COST OR VALUATION
At 1 August 2022 77,500
Revaluations 20,352
At 31 July 2023 97,852
NET BOOK VALUE
At 31 July 2023 97,852
At 31 July 2022 77,500

Robin Brice Enterprises Ltd (Registered number: 08156495)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 July 2023 is represented by:

Interest
in joint
venture
£   
Valuation in 2021 116,560
Valuation in 2022 (389,105 )
Valuation in 2023 20,352
Cost 350,045
97,852

If joint ventures had not been revalued they would have been included at the following historical cost:

31.7.23 31.7.22
£    £   
Cost 350,045 350,045
Aggregate provisions (342,148 ) (317,148 )

Joint ventures were valued on a net asset & earnings basis on 31 July 2023 by Passmore Weeks & Richardson .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 197 8,306
Amounts owed by joint ventures 49,450 96,087
Other debtors 1,500 7,793
51,147 112,186

Other debtors include prepayments of £1,500 (2022: £7,793).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 24,762 14,300
Hire purchase contracts and finance leases 13,698 3,403
Trade creditors 2,439 -
Taxation and social security 4,815 322
Other creditors 532,558 488,634
578,272 506,659

Other creditors include accruals of £42,663 (2022: £37,109).

Robin Brice Enterprises Ltd (Registered number: 08156495)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 149,150 159,765
Hire purchase contracts and finance leases 86,336 -
235,486 159,765

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due in more than 5
years repayable by instalments 84,249 78,516
Hire purchase 15,592 -
99,841 78,516

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Bank loans 162,649 174,065
Hire purchase contracts and finance leases 100,034 3,403
262,683 177,468

The bank loan is secured by a charge on the freehold property.

Hire purchase or finance leases are secured on the assets concerned.

10. RELATED PARTY DISCLOSURES

During the year the company received monies by way of loans from owners holding a participating interest. The
loans had no set repayment terms and interest was charged at commercial rates. The balance outstanding at the
end of the year was £489,895 (2022: £449,710).

During the year the company loaned money to joint ventures. There were no set repayment terms and interest was charged at commercial rates. The balance outstanding at the end of the year was £49,450 (2022: £96,087).

11. FIRST YEAR ADOPTION
1.8.21 31.7.22
£    £   
Equity as reported under FRS 105 634,053 658,972
Investments 116,560 (272,545 )
Provisions for liabilities (19,163 ) (9,306 )
Equity as restated under FRS 102 731,450 377,121