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Registered number: 02604154
R J Bower Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Deans
Gibson House Hurricane Court
Hurricane Close
Stafford
ST16 1GZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—8
Page 1
Balance Sheet
Registered number: 02604154
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 3,738,847 2,852,326
Investments 6 1 1
3,738,848 2,852,327
CURRENT ASSETS
Stocks 7 333,846 301,890
Debtors 8 217,170 116,904
Cash at bank and in hand 129,452 35,298
680,468 454,092
Creditors: Amounts Falling Due Within One Year 9 (1,206,882 ) (1,375,219 )
NET CURRENT ASSETS (LIABILITIES) (526,414 ) (921,127 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,212,434 1,931,200
Creditors: Amounts Falling Due After More Than One Year 10 (2,179,301 ) (1,047,133 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (206,990 ) (161,500 )
NET ASSETS 826,143 722,567
CAPITAL AND RESERVES
Called up share capital 13 100 100
Profit and Loss Account 826,043 722,467
SHAREHOLDERS' FUNDS 826,143 722,567
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr R J Bower
Director
Mr R J Bower
Director
13 February 2025
The notes on pages 3 to 8 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
R J Bower Limited is a private company, limited by shares, registered in England & Wales.  The company's registered number and registered office address can be found on the Company Information page.
2. Accounting Policies
2.1. Basis of Preparation of 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 probisions of section 1a "Small Entities" 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.
2.2. 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 the 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 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 the end of the cropping season.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
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.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation.  Cost includes costs directly attributeable to making the asset capable of operating as intended.  Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
Freehold 2% on cost
Plant & Machinery 10% on cost
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
2.5. Investments
Investments in subsidiary undertakings are recognised at cost.
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2.6. Leasing and Hire Purchase Contracts
Assets acquired under hire purchase contracts are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset.  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.
2.7. Stocks and Work in Progress
Stocks and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell. 
Cost includes all cost of purchase, cost 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.
2.8. 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 balance sheet date.
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 assesments 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.
2.9. 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 benefits of its employees. Contributions are expensed as they become payable.
2.10. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.11. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 60 (2023: 61)
60 61
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Page 5
4. Intangible Assets
Other
£
Cost
As at 1 June 2023 52,467
As at 31 May 2024 52,467
Amortisation
As at 1 June 2023 52,467
As at 31 May 2024 52,467
Net Book Value
As at 31 May 2024 -
As at 1 June 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 June 2023 2,098,950 760,884 73,945 880,439 3,814,218
Additions 852,655 67,300 6,598 254,218 1,180,771
Disposals - (9,600 ) - - (9,600 )
As at 31 May 2024 2,951,605 818,584 80,543 1,134,657 4,985,389
Depreciation
As at 1 June 2023 193,208 329,672 30,811 408,201 961,892
Provided during the period 73,669 60,449 11,400 148,732 294,250
Disposals - (9,600 ) - - (9,600 )
As at 31 May 2024 266,877 380,521 42,211 556,933 1,246,542
Net Book Value
As at 31 May 2024 2,684,728 438,063 38,332 577,724 3,738,847
As at 1 June 2023 1,905,742 431,212 43,134 472,238 2,852,326
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024
2023
£
£
Plant and Machinery
181,227
197,598
Fixtures and Fittings
49,583
-
Assets in the course of construction
235,000
235,000
image
image
465,810
image
432,598
image
Page 5
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6. Investments
Subsidiaries
£
Cost
As at 1 June 2023 1
As at 31 May 2024 1
Provision
As at 1 June 2023 -
As at 31 May 2024 -
Net Book Value
As at 31 May 2024 1
As at 1 June 2023 1
7. Stocks
2024 2023
£ £
Finished goods 333,846 301,890
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 129,560 53,484
Prepayments and accrued income 33,438 37,939
Directors' loan accounts 54,172 25,481
217,170 116,904
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 91,443 152,425
Trade creditors 180,436 230,329
Bank loans and overdrafts 61,154 27,371
Other taxes and social security 6,426 5,361
VAT 30,511 27,360
Other creditors 29,288 33,686
Accruals and deferred income 19,083 71,553
Directors' loan accounts 769,777 813,736
Amounts owed to group undertakings 18,764 13,398
1,206,882 1,375,219
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10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 163,687 166,907
Bank loans 1,853,091 714,006
Government grants after one year 162,523 166,220
2,179,301 1,047,133
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 1,677,560 617,724
11. Loans
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due within one year or on demand:
Bank loans 61,154 27,371
2024 2023
£ £
Amounts falling due between one and five years:
Bank loans 175,531 96,282
2024 2023
£ £
Amounts falling due after more than five years:
Bank loans 1,677,560 617,724
12. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 91,443 152,425
Later than one year and not later than five years 163,687 166,907
255,130 319,332
255,130 319,332
13. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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14. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mr Richard Bower 25,481 28,691 - - 54,172
The above loan is provided interest free and repayable on demand.
15. Controlling Parties
The company's immediate parent undertaking is Hatherton Hall Farm Limited .
The ultimate parent undertaking is Hatherton Hall Farm Limited (incorporated in England & Wales). Its registered office is Lower Drayton Farm, Penkridge, Stafford, ST19 5RE .
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