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REGISTERED NUMBER: 00627144 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2023

FOR

B.S. POVEY (WINTERBOURNE) LIMITED

B.S. POVEY (WINTERBOURNE) LIMITED (REGISTERED NUMBER: 00627144)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


B.S. POVEY (WINTERBOURNE) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2023







DIRECTORS: C Povey
Mrs M J Povey
S C Povey





SECRETARY: Mrs M J Povey





REGISTERED OFFICE: East Shefford House
Great Shefford
Hungerford
Berkshire
RG17 7EF





REGISTERED NUMBER: 00627144 (England and Wales)





ACCOUNTANTS: Martin and Company
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

B.S. POVEY (WINTERBOURNE) LIMITED (REGISTERED NUMBER: 00627144)

STATEMENT OF FINANCIAL POSITION
30TH JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,502,637 1,557,671
Investment property 5 750,000 750,000
2,252,637 2,307,671

CURRENT ASSETS
Stocks 368,254 329,571
Debtors 6 205,785 182,918
Cash at bank 108,855 71,623
682,894 584,112
CREDITORS
Amounts falling due within one year 7 537,547 669,547
NET CURRENT ASSETS/(LIABILITIES) 145,347 (85,435 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,397,984

2,222,236

PROVISIONS FOR LIABILITIES 65,238 74,690
NET ASSETS 2,332,746 2,147,546

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Fair value reserve 9 172,506 172,506
Retained earnings 2,150,240 1,965,040
SHAREHOLDERS' FUNDS 2,332,746 2,147,546

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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.

B.S. POVEY (WINTERBOURNE) LIMITED (REGISTERED NUMBER: 00627144)

STATEMENT OF FINANCIAL POSITION - continued
30TH JUNE 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16th February 2024 and were signed on its behalf by:





S C Povey - Director


B.S. POVEY (WINTERBOURNE) LIMITED (REGISTERED NUMBER: 00627144)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023


1. STATUTORY INFORMATION

B.S. Povey (Winterbourne) 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Deadstock, vehicles & tractors - 15% on cost
Barns & driers - 10% on cost

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 Statement of Income and Retained Earnings, 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.

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.

B.S. POVEY (WINTERBOURNE) LIMITED (REGISTERED NUMBER: 00627144)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


2. ACCOUNTING POLICIES - continued

Investment properties
Investment properties are included in the accounts at their open market value in accordance with the Financial Reporting Standards.

Government grants
The monies received relating to the Basic Payment Scheme is treated as income in accordance with the Financial Reporting Standard for Smaller Entities. Recognition does not take place until there is both compliance with the relevant conditions for receipt of the Basic Payment Scheme and reasonable assurance as to receipt.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Deadstock,
Freehold vehicles Barns &
property & tractors driers Totals
£    £    £    £   
COST
At 1st July 2022 1,338,668 336,662 387,841 2,063,171
Additions - 730 - 730
At 30th June 2023 1,338,668 337,392 387,841 2,063,901
DEPRECIATION
At 1st July 2022 - 303,823 201,677 505,500
Charge for year - 16,980 38,784 55,764
At 30th June 2023 - 320,803 240,461 561,264
NET BOOK VALUE
At 30th June 2023 1,338,668 16,589 147,380 1,502,637
At 30th June 2022 1,338,668 32,839 186,164 1,557,671

Freehold property consists largely of farm land. The remainder represents farm cottages and farm buildings. No provision for depreciation is made as the directors believe the cottages do not decrease in value and any provision on the farm buildings would be immaterial.

B.S. POVEY (WINTERBOURNE) LIMITED (REGISTERED NUMBER: 00627144)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st July 2022
and 30th June 2023 750,000
NET BOOK VALUE
At 30th June 2023 750,000
At 30th June 2022 750,000

Fair value at 30th June 2023 is represented by:
£   
Valuation in 2019 212,970
Cost 537,030
750,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 95,608 160,461
VAT 43,813 -
Prepayments and accrued income 66,364 22,457
205,785 182,918

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 262,832
Trade creditors 253,855 148,931
Tax 56,285 36,275
Social security and other taxes 1,217 361
VAT - 408
Other creditors 21,826 126,314
Directors' loan accounts 156,100 56,100
Accruals and deferred income 48,264 38,326
537,547 669,547

B.S. POVEY (WINTERBOURNE) LIMITED (REGISTERED NUMBER: 00627144)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 262,832

9. RESERVES
Fair
value
reserve
£   
At 1st July 2022
and 30th June 2023 172,506