Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30false5No description of principal activity2023-05-016truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11954039 2023-05-01 2024-04-30 11954039 2022-05-01 2023-04-30 11954039 2024-04-30 11954039 2023-04-30 11954039 2022-05-01 11954039 c:Director1 2023-05-01 2024-04-30 11954039 d:Buildings 2023-05-01 2024-04-30 11954039 d:Buildings 2024-04-30 11954039 d:Buildings 2023-04-30 11954039 d:Buildings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 11954039 d:PlantMachinery 2023-05-01 2024-04-30 11954039 d:PlantMachinery 2024-04-30 11954039 d:PlantMachinery 2023-04-30 11954039 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 11954039 d:MotorVehicles 2023-05-01 2024-04-30 11954039 d:MotorVehicles 2024-04-30 11954039 d:MotorVehicles 2023-04-30 11954039 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 11954039 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 11954039 d:CurrentFinancialInstruments 2024-04-30 11954039 d:CurrentFinancialInstruments 2023-04-30 11954039 d:Non-currentFinancialInstruments 2024-04-30 11954039 d:Non-currentFinancialInstruments 2023-04-30 11954039 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 11954039 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 11954039 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 11954039 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 11954039 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 11954039 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 11954039 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 11954039 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 11954039 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-04-30 11954039 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-04-30 11954039 d:ShareCapital 2024-04-30 11954039 d:ShareCapital 2023-04-30 11954039 d:RetainedEarningsAccumulatedLosses 2024-04-30 11954039 d:RetainedEarningsAccumulatedLosses 2023-04-30 11954039 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 11954039 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 11954039 d:TaxLossesCarry-forwardsDeferredTax 2024-04-30 11954039 d:TaxLossesCarry-forwardsDeferredTax 2023-04-30 11954039 c:OrdinaryShareClass1 2023-05-01 2024-04-30 11954039 c:OrdinaryShareClass1 2024-04-30 11954039 c:OrdinaryShareClass1 2023-04-30 11954039 c:FRS102 2023-05-01 2024-04-30 11954039 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 11954039 c:FullAccounts 2023-05-01 2024-04-30 11954039 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 11954039 d:HirePurchaseContracts d:WithinOneYear 2024-04-30 11954039 d:HirePurchaseContracts d:WithinOneYear 2023-04-30 11954039 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-04-30 11954039 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-04-30 11954039 d:HirePurchaseContracts d:MoreThanFiveYears 2024-04-30 11954039 d:HirePurchaseContracts d:MoreThanFiveYears 2023-04-30 11954039 2 2023-05-01 2024-04-30 11954039 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-04-30 11954039 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-04-30 11954039 d:LeasedAssetsHeldAsLessee 2024-04-30 11954039 d:LeasedAssetsHeldAsLessee 2023-04-30 11954039 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11954039










B L OWEN LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
B L OWEN LIMITED
REGISTERED NUMBER: 11954039

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
                                                                      Note
£
£

Fixed assets
  

Tangible assets
 4 
7,288,201
7,467,103

  
7,288,201
7,467,103

Current assets
  

Stocks
 5 
178,848
84,549

Debtors: amounts falling due within one year
 6 
397,452
720,763

  
576,300
805,312

Creditors: amounts falling due within one year
 7 
(755,059)
(2,666,182)

Net current liabilities
  
 
 
(178,759)
 
 
(1,860,870)

Total assets less current liabilities
  
7,109,442
5,606,233

Creditors: amounts falling due after more than one year
 8 
(7,840,489)
(6,294,955)

  

Net liabilities
  
(731,047)
(688,722)


Capital and reserves
  

Called up share capital 
 12 
100
100

Profit and loss account
  
(731,147)
(688,822)

  
(731,047)
(688,722)


Page 1

 
B L OWEN LIMITED
REGISTERED NUMBER: 11954039
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 October 2024.




B L J Owen
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
B L OWEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

B L Owen Limited (company number 11954039) is a private limited company, limited by shares, incorporated in England and Wales, with its registered office at Wainddu, Penybont, Llandrindod Wells, Powys LD1 5SW. The principal place of business is Stoney Court, Stoney Street, Madley, Hereford, HR2 9NH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

Going concern

The company has undertaken significant investment in the development of the site to enable a substantial increase in production capacity, efficiency and economies of scale. 
This period of account continues to include the construction of additional poultry units that came in to use in March 2022, significantly increasing the capacity, and the full effect of which has now been realised within the accounting period and will continue in future accounting periods
The shareholders, directors and the bank have confirmed to the Company that they intend to continue to support operations of the Company for the foreseeable future. 
On the basis of the above, the Going Concern Basis has been applied to these accounts.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
B L OWEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

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 payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
B L OWEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Land and buildings
-
0 - 3% Straight line
Integral features, plant and machinery
-
3 Straight line and 15% Reducing balance
Motor vehicles
-
25% Reducing balance

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
B L OWEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 5.


4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 May 2023
4,453,847
3,375,882
1,560
7,831,289


Additions
8,382
3,281
-
11,663



At 30 April 2024

4,462,229
3,379,163
1,560
7,842,952



Depreciation


At 1 May 2023
67,524
295,980
683
364,187


Charge for the year on owned assets
35,836
154,509
219
190,564



At 30 April 2024

103,360
450,489
902
554,751



Net book value



At 30 April 2024
4,358,869
2,928,674
658
7,288,201



At 30 April 2023
4,386,323
3,079,903
877
7,467,103

Page 6

 
B L OWEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
131,898
155,174

131,898
155,174


5.


Stocks

2024
2023
£
£

Closing stock
178,848
84,549

178,848
84,549



6.


Debtors

2024
2023
£
£


Trade debtors
67,252
-

Other debtors
11,309
23,818

Prepayments and accrued income
33,835
507,079

Tax recoverable
59,695
59,695

Deferred taxation
225,361
130,171

397,452
720,763


Page 7

 
B L OWEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
124,992
79,745

Bank loans
34,651
1,532,805

Trade creditors
272,847
448,867

Other taxation and social security
3,781
-

Obligations under finance lease and hire purchase contracts
26,080
26,050

Other creditors
51,194
52,260

Accruals and deferred income
241,514
526,455

755,059
2,666,182



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
7,729,650
6,158,036

Net obligations under finance leases and hire purchase contracts
110,839
136,919

7,840,489
6,294,955


Page 8

 
B L OWEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
34,651
1,532,805


34,651
1,532,805

Amounts falling due 1-2 years

Bank loans
53,333
375,650


53,333
375,650

Amounts falling due 2-5 years

Bank loans
160,000
1,126,951


160,000
1,126,951

Amounts falling due after more than 5 years

Bank loans
7,516,317
4,655,434

7,516,317
4,655,434

7,764,301
7,690,840


HSBC UK Bank PLC hold a fixed and floating charge over all of the assets of the company.  This includes freehold land and buildings at 1 Stoney Street Farm, Madley, Herefordshire, HR2 9NH, which is owned by the company.  The total amount of secured loans at the end of the year was £7,729,650 (2023: £7,690,840).

Page 9

 
B L OWEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
26,080
26,080

Between 1-5 years
104,319
104,319

Over 5 years
6,520
32,600

136,919
162,999

Page 10

 
B L OWEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

11.


Deferred taxation




2024
2023


£

£






At beginning of year
130,171
-


Utilised in year
95,190
130,171



At end of year
225,361
130,171

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(537,344)
(393,418)

Tax losses carried forward
762,705
523,589

225,361
130,171


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1 each
100
100



13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,450.


14.


Related party transactions

During the year the Company operated a loan account with a Director. The balance payable to the Director by the Company as at 30 April 2024 was £50,965 (2023: £50,627) as shown within other creditors.

 
Page 11