IRIS Accounts Production v23.3.1.45 02604154 Board of Directors 1.6.22 31.5.23 31.5.23 false true false false false true false Ordinary Shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh026041542022-05-31026041542023-05-31026041542022-06-012023-05-31026041542021-05-31026041542021-06-012022-05-31026041542022-05-3102604154ns10:Originalns15:EnglandWales2022-06-012023-05-3102604154ns14:PoundSterlingns10:Original2022-06-012023-05-3102604154ns10:Originalns10:Director12022-06-012023-05-3102604154ns10:Original2022-06-012023-05-3102604154ns10:Original2023-05-3102604154ns10:Originalns10:PrivateLimitedCompanyLtd2022-06-012023-05-3102604154ns10:Originalns10:SmallEntities2022-06-012023-05-3102604154ns10:Originalns10:AuditExempt-NoAccountantsReport2022-06-012023-05-3102604154ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3102604154ns10:SmallCompaniesRegimeForAccountsns10:Original2022-06-012023-05-3102604154ns10:Originalns10:FullAccounts2022-06-012023-05-3102604154ns10:Original12022-06-012023-05-3102604154ns10:Originalns10:OrdinaryShareClass12022-06-012023-05-3102604154ns10:Originalns10:Director22022-06-012023-05-3102604154ns10:CompanySecretary1ns10:Original2022-06-012023-05-3102604154ns10:Originalns10:RegisteredOffice2022-06-012023-05-3102604154ns10:Original2022-05-3102604154ns10:Originalns5:CurrentFinancialInstruments2023-05-3102604154ns10:Originalns5:CurrentFinancialInstruments2022-05-3102604154ns10:Originalns5:Non-currentFinancialInstruments2023-05-3102604154ns10:Originalns5:Non-currentFinancialInstruments2022-05-3102604154ns5:ShareCapitalns10:Original2023-05-3102604154ns5:ShareCapitalns10:Original2022-05-3102604154ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-05-3102604154ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-3102604154ns10:Originalns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-06-012023-05-3102604154ns10:Originalns5:OwnedOrFreeholdAssetsns5:LandBuildings2022-06-012023-05-3102604154ns10:Originalns5:PlantMachinery2022-06-012023-05-3102604154ns10:Originalns5:FurnitureFittings2022-06-012023-05-3102604154ns10:Originalns5:MotorVehicles2022-06-012023-05-3102604154ns10:Original2021-06-012022-05-3102604154ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-05-3102604154ns5:IntangibleAssetsOtherThanGoodwillns10:Original2023-05-3102604154ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-05-3102604154ns10:Originalns5:LandBuildings2022-05-3102604154ns10:Originalns5:PlantMachinery2022-05-3102604154ns10:Originalns5:FurnitureFittings2022-05-3102604154ns10:Originalns5:LandBuildings2022-06-012023-05-3102604154ns10:Originalns5:LandBuildings2023-05-3102604154ns10:Originalns5:PlantMachinery2023-05-3102604154ns10:Originalns5:FurnitureFittings2023-05-3102604154ns10:Originalns5:LandBuildings2022-05-3102604154ns10:Originalns5:PlantMachinery2022-05-3102604154ns10:Originalns5:FurnitureFittings2022-05-3102604154ns10:Originalns5:MotorVehicles2022-05-3102604154ns10:Originalns5:ComputerEquipment2022-05-3102604154ns10:Original2022-05-3102604154ns10:Originalns5:ComputerEquipment2022-06-012023-05-3102604154ns10:Originalns5:MotorVehicles2023-05-3102604154ns10:Originalns5:ComputerEquipment2023-05-3102604154ns10:Originalns5:MotorVehicles2022-05-3102604154ns10:Originalns5:ComputerEquipment2022-05-3102604154ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-05-3102604154ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-05-3102604154ns10:Originalns5:ComputerEquipmentns5:LeasedAssetsHeldAsLessee2022-05-3102604154ns10:Originalns5:LeasedAssetsHeldAsLessee2022-05-3102604154ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-06-012023-05-3102604154ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-06-012023-05-3102604154ns10:Originalns5:ComputerEquipmentns5:LeasedAssetsHeldAsLessee2022-06-012023-05-3102604154ns10:Originalns5:LeasedAssetsHeldAsLessee2022-06-012023-05-3102604154ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-05-3102604154ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-05-3102604154ns10:Originalns5:ComputerEquipmentns5:LeasedAssetsHeldAsLessee2023-05-3102604154ns10:Originalns5:LeasedAssetsHeldAsLessee2023-05-3102604154ns10:Originalns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-05-3102604154ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-05-3102604154ns10:Originalns5:ComputerEquipmentns5:LeasedAssetsHeldAsLessee2022-05-3102604154ns10:Originalns5:LeasedAssetsHeldAsLessee2022-05-3102604154ns10:Originalns5:CostValuation2022-05-3102604154ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3102604154ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-3102604154ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-05-3102604154ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-05-3102604154ns10:Originalns5:Non-currentFinancialInstruments2022-06-012023-05-3102604154ns5:Securedns10:Original2023-05-3102604154ns5:Securedns10:Original2022-05-3102604154ns10:Originalns10:OrdinaryShareClass12023-05-3102604154ns10:Originalns10:Director222022-05-3102604154ns10:Originalns10:Director222021-05-3102604154ns10:Originalns10:Director222022-06-012023-05-3102604154ns10:Originalns10:Director222021-06-012022-05-3102604154ns10:Originalns10:Director222023-05-3102604154ns10:Originalns10:Director222022-05-31
REGISTERED NUMBER: 02604154 (England and Wales)















R J BOWER LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023






R J BOWER LIMITED (REGISTERED NUMBER: 02604154)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R J BOWER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: R J Bower
Richard J Bower



SECRETARY: Mrs V J James



REGISTERED OFFICE: Lower Drayton Farm
Lower Drayton Lane
Penkridge
Stafford
Staffordshire
ST19 5RE



REGISTERED NUMBER: 02604154 (England and Wales)



BANKERS: Barclays Bank plc
15 Market Square
Stafford
ST16 2BE

R J BOWER LIMITED (REGISTERED NUMBER: 02604154)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,852,326 2,521,803
Investments 6 1 1
2,852,327 2,521,804

CURRENT ASSETS
Stocks 301,890 254,517
Debtors 7 116,904 125,692
Cash at bank and in hand 35,298 85,214
454,092 465,423
CREDITORS
Amounts falling due within one year 8 (1,375,219 ) (1,058,056 )
NET CURRENT LIABILITIES (921,127 ) (592,633 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,931,200 1,929,171

CREDITORS
Amounts falling due after more than one
year

9

(1,047,133

)

(1,107,722

)

PROVISIONS FOR LIABILITIES (161,500 ) (113,696 )
NET ASSETS 722,567 707,753

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 722,467 707,653
SHAREHOLDERS' FUNDS 722,567 707,753

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

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

R J BOWER LIMITED (REGISTERED NUMBER: 02604154)

BALANCE SHEET - continued
31 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 22 February 2024 and were signed on its behalf by:





R J Bower - Director


R J BOWER LIMITED (REGISTERED NUMBER: 02604154)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

R J Bower 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 Section 1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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.

Preparation of consolidated financial statements
The financial statements contain information about R J Bower Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods
Turnover from the sale of livestock and crops is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Interest receivable
Interest income is recognised using the effective interest method.

Contract Farming
Turnover from the from contracting services is recognised when the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually at the end of the cropping season.

Intangible assets - other
Intangible assets acquired separately from a business are capitalised at fair value. Intangible assets acquired on business combinations are capitalised separately from goodwill if the fair value can be measured reliably on initial recognition.

Intangible assets are amortised on a straight line basis over their useful lives. The useful lives of intangible assets are as follows:
Basic Payment Scheme entitlements - 6 years

Provision is made for any impairment.

R J BOWER LIMITED (REGISTERED NUMBER: 02604154)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Leases
Assets acquired under hire purchase contracts finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

R J BOWER LIMITED (REGISTERED NUMBER: 02604154)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Government grants
Government Grants in respect of Covid-19 received as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the company with no future related costs are recognised as income in the period in which the grant becomes receivable using the accruals model

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 25 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2022
and 31 May 2023 52,467
AMORTISATION
At 1 June 2022
and 31 May 2023 52,467
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

R J BOWER LIMITED (REGISTERED NUMBER: 02604154)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2022 1,847,926 517,628 822,019
Additions 95,754 307,956 58,419
Disposals - (64,700 ) -
Reclassification/transfer - - -
At 31 May 2023 1,943,680 760,884 880,438
DEPRECIATION
At 1 June 2022 128,885 349,935 260,499
Charge for year 64,323 41,940 147,702
Eliminated on disposal - (62,203 ) -
At 31 May 2023 193,208 329,672 408,201
NET BOOK VALUE
At 31 May 2023 1,750,472 431,212 472,237
At 31 May 2022 1,719,041 167,693 561,520

Assets in
the
course of
Motor constr
vehicles uction Totals
£    £    £   
COST
At 1 June 2022 73,945 16,037 3,277,555
Additions - 165,994 628,123
Disposals - - (64,700 )
Reclassification/transfer - (26,760 ) (26,760 )
At 31 May 2023 73,945 155,271 3,814,218
DEPRECIATION
At 1 June 2022 16,433 - 755,752
Charge for year 14,378 - 268,343
Eliminated on disposal - - (62,203 )
At 31 May 2023 30,811 - 961,892
NET BOOK VALUE
At 31 May 2023 43,134 155,271 2,852,326
At 31 May 2022 57,512 16,037 2,521,803

R J BOWER LIMITED (REGISTERED NUMBER: 02604154)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Assets in
the
course of
Plant and Motor constr
machinery vehicles uction Totals
£    £    £    £   
COST
At 1 June 2022 264,139 3,600 235,000 502,739
Additions 219,109 - - 219,109
Transfer to ownership (264,139 ) (3,600 ) - (267,739 )
At 31 May 2023 219,109 - 235,000 454,109
DEPRECIATION
At 1 June 2022 200,944 2,841 - 203,785
Charge for year 21,911 - - 21,911
Transfer to ownership (200,944 ) (2,841 ) - (203,785 )
At 31 May 2023 21,911 - - 21,911
NET BOOK VALUE
At 31 May 2023 197,198 - 235,000 432,198
At 31 May 2022 63,195 759 235,000 298,954

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 June 2022
and 31 May 2023 1
NET BOOK VALUE
At 31 May 2023 1
At 31 May 2022 1

R J BOWER LIMITED (REGISTERED NUMBER: 02604154)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 53,484 52,847
Directors' loan accounts 25,481 9,906
Corporation tax - 6,225
Prepayments 37,939 56,714
116,904 125,692

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 27,371 30,583
Hire purchase contracts 152,425 10,403
Trade creditors 230,329 95,704
Amounts owed to group undertakings 13,398 15,019
Social security and other taxes 5,361 4,599
VAT 27,360 10,946
Other creditors 33,686 33,066
Directors' current accounts 813,736 811,938
Accruals and deferred income 71,553 45,798
1,375,219 1,058,056

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 714,006 738,165
Hire purchase contracts 166,907 199,641
Deferred government grants 166,220 169,916
1,047,133 1,107,722

Bank loans include amounts of £617,724 (2022- £607,902) which fall due after five years and which are repayable by instalments.

R J BOWER LIMITED (REGISTERED NUMBER: 02604154)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 741,377 768,748
Hire purchase contracts 319,332 210,044
1,060,709 978,792

Bank loans are secured against property held by the company. Hire purchase contracts are secured against the assets being leased.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary Shares £1 100 100

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
Richard J Bower
Balance outstanding at start of year 9,906 -
Amounts advanced 105,822 9,906
Amounts repaid (90,247 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 25,481 9,906

The director's loan has been provided interest free and is repayable on demand.

13. PARENT COMPANY

The parent company is Hatherton Hall Farm Limited, Lower Drayton Farm, Lower Drayton Lane, Penkridge, Staffordshire, ST19 5RE.