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REGISTERED NUMBER: 04254798 (England and Wales)


















Financial Statements for the Year Ended 31st May 2023

for

PJR (Mile House) Limited

PJR (Mile House) Limited (Registered number: 04254798)






Contents of the Financial Statements
for the year ended 31st May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PJR (Mile House) Limited

Company Information
for the year ended 31st May 2023







DIRECTORS: P.J. Rowbottom
R.A. Rowbottom
R.E.M. Rowbottom





REGISTERED OFFICE: Plowlands Farm
Patrington Road
Welwick
HU12 0RU





REGISTERED NUMBER: 04254798 (England and Wales)





ACCOUNTANTS: Smailes Goldie Limited
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

PJR (Mile House) Limited (Registered number: 04254798)

Balance Sheet
31st May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 964,962 678,548
964,962 678,548

CURRENT ASSETS
Stocks 271,851 245,410
Debtors 6 1,315,637 1,375,980
Cash at bank 233,379 173,026
1,820,867 1,794,416
CREDITORS
Amounts falling due within one year 7 813,607 720,300
NET CURRENT ASSETS 1,007,260 1,074,116
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,972,222

1,752,664

CREDITORS
Amounts falling due after more than one
year

8

(941,629

)

(998,297

)

PROVISIONS FOR LIABILITIES (145,875 ) (97,100 )
NET ASSETS 884,718 657,267

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 884,716 657,265
SHAREHOLDERS' FUNDS 884,718 657,267

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

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

PJR (Mile House) Limited (Registered number: 04254798)

Balance Sheet - continued
31st May 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12th February 2024 and were signed on its behalf by:





R.A. Rowbottom - Director


PJR (Mile House) Limited (Registered number: 04254798)

Notes to the Financial Statements
for the year ended 31st May 2023

1. STATUTORY INFORMATION

PJR (Mile House) 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
The financial statements have been prepared in accordance with applicable accounting standards including Section 1A of Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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
Basic payment scheme entitlements are initially recognised at cost and are amortised on a straight line basis over their expected useful life. At the reporting date, the expected useful life is 8 years, reflecting the 8 year period of benefit to be received via the Basic Payment Scheme. The Basic Payment Scheme commenced in 2015 and the cessation year expected to be 2022.

Fixed assets
Tangible fixed assets 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.

Depreciation
Depreciation of fixed assets is charged by annual instalments commencing with the year of acquisition at rates estimated to write off their cost less any residual value over the expected useful lives.

The annual rates used are as follows:

Plant & machinery15% on cost
Tractors20% on cost
Motor vehicles20% on cost

Stocks
Stocks, including biological assets, are stated at the lower of cost and net realisable value. Cost is determined using the first-in, first-out (FIFO) method and represents costs incurred to date to bring growing crops and finished produce to its current state. Net realisable value is estimated selling price in the ordinary course of business, less applicable variable selling expenses.


PJR (Mile House) Limited (Registered number: 04254798)

Notes to the Financial Statements - continued
for the year ended 31st May 2023

2. ACCOUNTING POLICIES - continued
Current & deferred tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current and past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 and 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 agreements
Tangible fixed assets acquired under hire purchase agreements are capitalised at the estimated fair value at the date of inception of each contract. The finance charges are allocated over the period of the contract in accordance with the straight line method.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Hire purchase agreements
Tangible fixed assets acquired under hire purchase agreements are capitalised at the estimated fair value at the date of inception of each contract. The finance charges are allocated over the period of the contract in accordance with the straight line method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

PJR (Mile House) Limited (Registered number: 04254798)

Notes to the Financial Statements - continued
for the year ended 31st May 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st June 2022
and 31st May 2023 150,000
AMORTISATION
At 1st June 2022
and 31st May 2023 150,000
NET BOOK VALUE
At 31st May 2023 -
At 31st May 2022 -

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery Tractors vehicles Totals
£    £    £    £    £   
COST
At 1st June 2022 147,952 437,719 542,800 56,012 1,184,483
Additions 233,510 86,500 85,000 - 405,010
Disposals - (1,650 ) (73,500 ) - (75,150 )
At 31st May 2023 381,462 522,569 554,300 56,012 1,514,343
DEPRECIATION
At 1st June 2022 - 196,023 283,562 26,350 505,935
Charge for year - 36,794 25,310 4,209 66,313
Eliminated on disposal - (1,650 ) (21,217 ) - (22,867 )
At 31st May 2023 - 231,167 287,655 30,559 549,381
NET BOOK VALUE
At 31st May 2023 381,462 291,402 266,645 25,453 964,962
At 31st May 2022 147,952 241,696 259,238 29,662 678,548

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 5,825 8,136
Other debtors 1,282,317 1,343,595
VAT 26,015 22,061
Prepayments and accrued income 1,480 2,188
1,315,637 1,375,980

PJR (Mile House) Limited (Registered number: 04254798)

Notes to the Financial Statements - continued
for the year ended 31st May 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 73,633 73,638
Other loans 10,000 9,626
Hire purchase contracts 64,414 52,478
Trade creditors 153,718 112,287
Amounts owed to group undertakings 433,517 437,517
Tax 53,726 16,279
Accruals and deferred income 24,599 18,475
813,607 720,300

The bank overdraft is secured by a fixed and floating charge over all the assets of the company.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-5 years 398,949 293,812
Bank loans over 5 years 436,385 607,124
Other loans - 1-5 years 25,276 35,650
Hire purchase contracts 81,019 61,711
941,629 998,297

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 436,385 607,124

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 908,967 974,574

The company took out a loan for £1.2m from the Agricultural Mortgage Corporation plc ("AMC") during the year ended 31 May 2014. A further £240,000 loan from Agricultural Mortgage Corporation plc was taken out during the year ended 31 May 2016.The loan is secured on land owned by a director and is repayable over a period of 20 years. Interest is chargeable at 1.70% over the base rate of AMC for the first 10 year period of the loan and 2.35% thereafter. The balance on the loan at 31 May 2023 is £908,967.

PJR (Mile House) Limited (Registered number: 04254798)

Notes to the Financial Statements - continued
for the year ended 31st May 2023

10. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity

2023 2022
£    £   
Loans due to related parties 433,517 437,517


Key management personnel of the entity or its parent (in the aggregate)

2023 2022
£    £   
Directors remuneration and other benefits etc 8,400 8,400