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REGISTERED NUMBER: 04563922 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

BOWLAND TRACTORS LIMITED

BOWLAND TRACTORS LIMITED (REGISTERED NUMBER: 04563922)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BOWLAND TRACTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: D R Bland
H E Bland





SECRETARY: Mrs L M Bland





REGISTERED OFFICE: Kings Chambers
Queens Cross
High Street
Dudley
West Midlands
DY1 1QT





REGISTERED NUMBER: 04563922 (England and Wales)





ACCOUNTANTS: Saxon & Co Accountants Ltd
Chartered Certified Accountants
Kings Chambers
Queens Cross
High Street
Dudley
West Midlands
DY1 1QT

BOWLAND TRACTORS LIMITED (REGISTERED NUMBER: 04563922)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 188,887 223,562
188,887 223,562

CURRENT ASSETS
Stocks 1,333,000 1,460,700
Debtors 6 1,400,024 1,075,731
Cash at bank 219,262 11,350
2,952,286 2,547,781
CREDITORS
Amounts falling due within one year 7 817,636 630,248
NET CURRENT ASSETS 2,134,650 1,917,533
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,323,537

2,141,095

CREDITORS
Amounts falling due after more than one year 8 (119,913 ) (182,384 )

PROVISIONS FOR LIABILITIES (31,524 ) (39,837 )
NET ASSETS 2,172,100 1,918,874

CAPITAL AND RESERVES
Called up share capital 1 1
Capital redemption reserve 3 3
Retained earnings 2,172,096 1,918,870
SHAREHOLDERS' FUNDS 2,172,100 1,918,874

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

BOWLAND TRACTORS LIMITED (REGISTERED NUMBER: 04563922)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 22 October 2024 and were signed on its behalf by:




D R Bland - Director



H E Bland - Director


BOWLAND TRACTORS LIMITED (REGISTERED NUMBER: 04563922)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Bowland Tractors 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Short leasehold - 2% on cost
Plant & equipment - 20% on reducing balance
Office equipment - 25% on reducing balance

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 balance sheet date.


BOWLAND TRACTORS LIMITED (REGISTERED NUMBER: 04563922)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued
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.

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 and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 18,000
AMORTISATION
At 1 March 2023
and 29 February 2024 18,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

BOWLAND TRACTORS LIMITED (REGISTERED NUMBER: 04563922)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. TANGIBLE FIXED ASSETS
Short Plant & Office Motor
leasehold equipment equipment vehicles Totals
£    £    £    £    £   
COST
At 1 March 2023 71,066 149,568 13,285 166,836 400,755
Additions - - 3,925 - 3,925
At 29 February 2024 71,066 149,568 17,210 166,836 404,680
DEPRECIATION
At 1 March 2023 6,849 86,601 8,753 74,990 177,193
Charge for year 1,422 12,593 1,623 22,962 38,600
At 29 February 2024 8,271 99,194 10,376 97,952 215,793
NET BOOK VALUE
At 29 February 2024 62,795 50,374 6,834 68,884 188,887
At 28 February 2023 64,217 62,967 4,532 91,846 223,562

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant & Motor
equipment vehicles Totals
£    £    £   
COST
At 1 March 2023 26,500 72,499 98,999
Transfer to ownership - (23,000 ) (23,000 )
At 29 February 2024 26,500 49,499 75,999
DEPRECIATION
At 1 March 2023 5,300 22,819 28,119
Charge for year 4,240 12,421 16,661
Transfer to ownership - (14,308 ) (14,308 )
At 29 February 2024 9,540 20,932 30,472
NET BOOK VALUE
At 29 February 2024 16,960 28,567 45,527
At 28 February 2023 21,200 49,680 70,880

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,306,423 973,410
Other debtors 93,601 102,321
1,400,024 1,075,731

BOWLAND TRACTORS LIMITED (REGISTERED NUMBER: 04563922)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 50,002 118,271
Hire purchase contracts 12,085 14,818
Trade creditors 398,644 180,149
Amounts owed to group undertakings 206,810 206,810
Taxation and social security 127,538 86,898
Other creditors 22,557 23,302
817,636 630,248

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 108,337 158,339
Hire purchase contracts 11,576 24,045
119,913 182,384

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D Bland and L Bland.