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REGISTERED NUMBER: 00531130 (England and Wales)















G.C. MOWBRAY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






G.C. MOWBRAY LIMITED (REGISTERED NUMBER: 00531130)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


G.C. MOWBRAY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mr R G Mowbray
Mrs L A Mowbray
Mr M G Mowbray





SECRETARY: Mrs L A Mowbray





REGISTERED OFFICE: c/o Duncan & Toplis Limited
Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR





REGISTERED NUMBER: 00531130 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR

G.C. MOWBRAY LIMITED (REGISTERED NUMBER: 00531130)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,467,346 3,423,039
3,467,346 3,423,039

CURRENT ASSETS
Valuation 293,853 302,317
Debtors 6 141,686 230,672
Cash at bank 379,192 128,966
814,731 661,955
CREDITORS
Amounts falling due within one year 7 375,175 276,327
NET CURRENT ASSETS 439,556 385,628
TOTAL ASSETS LESS CURRENT LIABILITIES 3,906,902 3,808,667

CREDITORS
Amounts falling due after more than one year 8 (198,538 ) (266,790 )

PROVISIONS FOR LIABILITIES (285,646 ) (276,836 )
NET ASSETS 3,422,718 3,265,041

CAPITAL AND RESERVES
Called up share capital 10 6,150 6,150
Capital redemption reserve 2,600 2,600
Retained earnings 3,413,968 3,256,291
SHAREHOLDERS' FUNDS 3,422,718 3,265,041

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

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

G.C. MOWBRAY LIMITED (REGISTERED NUMBER: 00531130)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:





Mr M G Mowbray - Director


G.C. MOWBRAY LIMITED (REGISTERED NUMBER: 00531130)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

G.C. Mowbray 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net invoiced sales of produce and work done, excluding value added tax. Sales of produce are recognised upon despatch. Revenue from work done is recognised on the day of completion of the work.

The Basic Farm Payment is recognised in the financial statements in accordance with current H.M. Revenue & Customs guidance.

Intangible assets
Intangible assets consist of entitlements to the basic payment. The entitlements are recognised at fair value and written off on a straight line basis over the period to 31 December 2019 when the scheme ends.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings4% on cost and Nil
Plant and machinery etc10% and 20% on reducing balance and straight line over 20 and 25 years

Stocks
Stocks are valued on basis consistent with that of previous year by professional valuers in accordance with HS232 Farm Stock Valuation.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

G.C. MOWBRAY LIMITED (REGISTERED NUMBER: 00531130)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023
and 30 June 2024 43,141
AMORTISATION
At 1 July 2023
and 30 June 2024 43,141
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

G.C. MOWBRAY LIMITED (REGISTERED NUMBER: 00531130)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 2,845,959 1,829,199 4,675,158
Additions - 209,443 209,443
Disposals - (151,819 ) (151,819 )
At 30 June 2024 2,845,959 1,886,823 4,732,782
DEPRECIATION
At 1 July 2023 101,972 1,150,147 1,252,119
Charge for year 4,989 123,244 128,233
Eliminated on disposal - (114,916 ) (114,916 )
At 30 June 2024 106,961 1,158,475 1,265,436
NET BOOK VALUE
At 30 June 2024 2,738,998 728,348 3,467,346
At 30 June 2023 2,743,987 679,052 3,423,039


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 108,852 201,065
Other debtors 32,834 29,607
141,686 230,672

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 36,878 36,877
Hire purchase contracts 45,164 30,000
Trade creditors 59,562 36,786
Taxation and social security 78,672 59,331
Other creditors 154,899 113,333
375,175 276,327

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 118,036 196,790
Hire purchase contracts 75,502 60,000
Other creditors 5,000 10,000
198,538 266,790

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - 49,281

G.C. MOWBRAY LIMITED (REGISTERED NUMBER: 00531130)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 154,914 233,667
Hire purchase contracts 120,666 90,000
275,580 323,667

The company's freehold property is secured by way of a fixed charge, together with a negative pledge, in favour of the company's bankers.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 A Ordinary £1 100 3,150
100 B Ordinary £1 100 1,000
5,950 C Ordinary £1 5,950 2,000
6,150 6,150