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REGISTERED NUMBER: 04254798 (England and Wales)






















Financial Statements for the Year Ended 31st May 2024

for

PJR (Mile House) Limited

PJR (Mile House) Limited (Registered number: 04254798)






Contents of the Financial Statements
for the year ended 31st May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PJR (Mile House) Limited

Company Information
for the year ended 31st May 2024







DIRECTORS: P.J. Rowbottom
R.A. Rowbottom
R.E.M. Rowbottom
M.J. Rowbottom





REGISTERED OFFICE: Plowlands Farm
Patrington Road
Welwick
HU12 0RU





REGISTERED NUMBER: 04254798 (England and Wales)





ACCOUNTANTS: Smailes Goldie Limited
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

PJR (Mile House) Limited (Registered number: 04254798)

Balance Sheet
31st May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,089,342 964,962
1,089,342 964,962

CURRENT ASSETS
Stocks 292,650 271,851
Debtors 6 1,645,633 1,315,637
Cash at bank 98,339 233,379
2,036,622 1,820,867
CREDITORS
Amounts falling due within one year 7 784,655 813,607
NET CURRENT ASSETS 1,251,967 1,007,260
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,341,309

1,972,222

CREDITORS
Amounts falling due after more than one
year

8

(1,160,643

)

(941,629

)

PROVISIONS FOR LIABILITIES (147,005 ) (145,875 )
NET ASSETS 1,033,661 884,718

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,033,659 884,716
SHAREHOLDERS' FUNDS 1,033,661 884,718

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

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

PJR (Mile House) Limited (Registered number: 04254798)

Balance Sheet - continued
31st May 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th February 2025 and were signed on its behalf by:





R.A. Rowbottom - Director


PJR (Mile House) Limited (Registered number: 04254798)

Notes to the Financial Statements
for the year ended 31st May 2024

1. STATUTORY INFORMATION

PJR (Mile House) 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
The financial statements have been prepared in accordance with applicable accounting standards including Section 1A of Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

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.

Turnover
Turnover represents income derived from the sale of arable crops, Basic Payment Scheme and contract work income. Turnover is reconsidered net of VAT on an accruals basis during the period in which it is sold.

Intangible assets
Basic payment scheme entitlements are initially recognised at cost and are amortised on a straight line basis over their expected useful life. At the reporting date, the expected useful life is 8 years, reflecting the 8 year period of benefit to be received via the Basic Payment Scheme. The Basic Payment Scheme commenced in 2015 and the cessation year was 2022.

Fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation
Depreciation of fixed assets is charged by annual instalments commencing with the year of acquisition at rates estimated to write off their cost less any residual value over the expected useful lives.

The annual rates used are as follows:

Plant & machinery15% on cost
Tractors20% on cost
Motor vehicles20% on cost

Stocks
Stocks, including biological assets, are stated at the lower of cost and net realisable value. Cost is determined using the first-in, first-out (FIFO) method and represents costs incurred to date to bring growing crops and finished produce to its current state. Net realisable value is estimated selling price in the ordinary course of business, less applicable variable selling expenses.


PJR (Mile House) Limited (Registered number: 04254798)

Notes to the Financial Statements - continued
for the year ended 31st May 2024

2. ACCOUNTING POLICIES - continued
Current & deferred tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current and 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. 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 and 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 agreements
Tangible fixed assets acquired under hire purchase agreements are capitalised at the estimated fair value at the date of inception of each contract. The finance charges are allocated over the period of the contract in accordance with the straight line method.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Hire purchase agreements
Tangible fixed assets acquired under hire purchase agreements are capitalised at the estimated fair value at the date of inception of each contract. The finance charges are allocated over the period of the contract in accordance with the straight line method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

PJR (Mile House) Limited (Registered number: 04254798)

Notes to the Financial Statements - continued
for the year ended 31st May 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st June 2023 150,000
Disposals (150,000 )
At 31st May 2024 -
AMORTISATION
At 1st June 2023 150,000
Eliminated on disposal (150,000 )
At 31st May 2024 -
NET BOOK VALUE
At 31st May 2024 -
At 31st May 2023 -

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery Tractors vehicles Totals
£    £    £    £    £   
COST
At 1st June 2023 381,462 522,569 554,300 56,012 1,514,343
Additions - 192,150 - 3,661 195,811
Disposals - (4,025 ) - - (4,025 )
At 31st May 2024 381,462 710,694 554,300 59,673 1,706,129
DEPRECIATION
At 1st June 2023 - 231,167 287,655 30,559 549,381
Charge for year - 48,128 19,100 4,202 71,430
Eliminated on disposal - (4,024 ) - - (4,024 )
At 31st May 2024 - 275,271 306,755 34,761 616,787
NET BOOK VALUE
At 31st May 2024 381,462 435,423 247,545 24,912 1,089,342
At 31st May 2023 381,462 291,402 266,645 25,453 964,962

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 64,395 5,825
Other debtors 1,571,115 1,282,317
VAT 8,643 26,015
Prepayments and accrued income 1,480 1,480
1,645,633 1,315,637

PJR (Mile House) Limited (Registered number: 04254798)

Notes to the Financial Statements - continued
for the year ended 31st May 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 86,504 73,633
Other loans 10,000 10,000
Hire purchase contracts 60,575 64,414
Trade creditors 144,625 153,718
Amounts owed to group undertakings 382,517 433,517
Tax 65,268 53,726
Social security and other taxes 628 999
Accruals and deferred income 34,036 23,600
Deferred government grants 502 -
784,655 813,607

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-5 years 507,142 398,949
Bank loans over 5 years 610,738 436,385
Other loans - 1-5 years 15,276 25,276
Hire purchase contracts 20,958 81,019
Deferred government grants 6,529 -
1,160,643 941,629

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 610,738 436,385

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,204,384 908,967

The company took out a loan for £1.2m from the Agricultural Mortgage Corporation plc ("AMC") during the year ended 31 May 2014. A further £240,000 loan from Agricultural Mortgage Corporation plc was taken out during the year ended 31 May 2016.The loan is secured on land owned by a director and is repayable over a period of 20 years. Interest is chargeable at 1.70% over the base rate of AMC for the first 10 year period of the loan and 2.35% thereafter. The balance on the loan at 31 May 2024 is £849,384. The company took out a loan for £355,000 from Yorkshire Bank during the year ended 31 May 2024. The loan is secured on land owned by a director and is repayable over a period of 10 years. Interest is chargeable at 2.35% over the base rate of Yorkshire Bank. The balance on the loan at 31 May 2024 is £355,000.

PJR (Mile House) Limited (Registered number: 04254798)

Notes to the Financial Statements - continued
for the year ended 31st May 2024

10. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity

2024 2023
£    £   
Loans due to related parties 382,517 433,517


Key management personnel of the entity or its parent (in the aggregate)

2024 2023
£    £   
Directors remuneration and other benefits etc 36,439 8,400