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REGISTERED NUMBER: 01423992 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

R. & C. POOLE LIMITED

R. & C. POOLE LIMITED (REGISTERED NUMBER: 01423992)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R. & C. POOLE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: F J Poole
Mrs J Poole





SECRETARY: Mrs J Poole





REGISTERED OFFICE: Chestnut Farm
Mayshill
Frampton Cotterell
Bristol
BS36 2NS





REGISTERED NUMBER: 01423992 (England and Wales)





ACCOUNTANTS: Gordon Wood Scott & Partners Limited
Chartered Accountants
Dean House
94 Whiteladies Road
Clifton
Bristol
BS8 2QX

R. & C. POOLE LIMITED (REGISTERED NUMBER: 01423992)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 143,123 172,514
Investment property 5 125,033 113,667
268,156 286,181

CURRENT ASSETS
Stocks 6 30,446 34,768
Debtors 7 109,899 110,724
Investments 8 143 143
140,488 145,635
CREDITORS
Amounts falling due within one year 9 (100,385 ) (123,285 )
NET CURRENT ASSETS 40,103 22,350
TOTAL ASSETS LESS CURRENT
LIABILITIES

308,259

308,531

CREDITORS
Amounts falling due after more than one
year

10

(134,351

)

(258,421

)

PROVISIONS FOR LIABILITIES (7,178 ) -
NET ASSETS 166,730 50,110

CAPITAL AND RESERVES
Called up share capital 12 120 120
Retained earnings 13 166,610 49,990
SHAREHOLDERS' FUNDS 166,730 50,110

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

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

R. & C. POOLE LIMITED (REGISTERED NUMBER: 01423992)

BALANCE SHEET - continued
31 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 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 26 February 2025 and were signed on its behalf by:





F J Poole - Director


R. & C. POOLE LIMITED (REGISTERED NUMBER: 01423992)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

R. & C. Poole 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 as modified by the revaluation of certain assets.

The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

At the year end the company was in an insolvent position. The ability to continue trading is dependent on the willingness of the directors and the company's bankers to continue to support to the company. The directors believe that this support will continue for the foreseeable future and for a period of at least 12 months from the date of signature of these financial statements.

The directors have considered the effects of the current Coronavirus pandemic on the outlook for the business. Whilst there has been a drop in demand for some of the farm's products and services, demand for other products has increased which is a common theme for farming businesses.

Turnover
Turnover represents the value of crops and produce delivered or collected from the farm and services rendered during the year excluding VAT.

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.
Land and buildings - over the term of the lease
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

R. & C. POOLE LIMITED (REGISTERED NUMBER: 01423992)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST
At 1 June 2023 55,000 86,901 190,705
Additions - - 2,800
Disposals (47,143 ) - (25,367 )
At 31 May 2024 7,857 86,901 168,138
DEPRECIATION
At 1 June 2023 - 86,901 152,073
Charge for year - - 5,489
Eliminated on disposal - - (20,528 )
At 31 May 2024 - 86,901 137,034
NET BOOK VALUE
At 31 May 2024 7,857 - 31,104
At 31 May 2023 55,000 - 38,632

R. & C. POOLE LIMITED (REGISTERED NUMBER: 01423992)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS - continued

Fixtures,
fittings
and Motor
equipment vehicles Tractors Totals
£    £    £    £   
COST
At 1 June 2023 4,381 72,791 97,288 507,066
Additions - - 44,500 47,300
Disposals - - - (72,510 )
At 31 May 2024 4,381 72,791 141,788 481,856
DEPRECIATION
At 1 June 2023 4,132 39,705 51,741 334,552
Charge for year 38 5,530 13,652 24,709
Eliminated on disposal - - - (20,528 )
At 31 May 2024 4,170 45,235 65,393 338,733
NET BOOK VALUE
At 31 May 2024 211 27,556 76,395 143,123
At 31 May 2023 249 33,086 45,547 172,514

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Tractors Totals
£    £    £    £   
COST
At 1 June 2023 16,600 51,747 71,800 140,147
Additions - - 44,500 44,500
Transfer to ownership - (19,499 ) - (19,499 )
At 31 May 2024 16,600 32,248 116,300 165,148
DEPRECIATION
At 1 June 2023 5,343 19,709 27,706 52,758
Charge for year 1,689 4,112 13,289 19,090
Transfer to ownership - (14,872 ) - (14,872 )
At 31 May 2024 7,032 8,949 40,995 56,976
NET BOOK VALUE
At 31 May 2024 9,568 23,299 75,305 108,172
At 31 May 2023 11,257 32,038 44,094 87,389

R. & C. POOLE LIMITED (REGISTERED NUMBER: 01423992)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 113,667
Revaluations 11,366
At 31 May 2024 125,033
NET BOOK VALUE
At 31 May 2024 125,033
At 31 May 2023 113,667

The property was valued on an open market basis at the year end by the directors of the company.

The values shown above are analysed as follows:

£

Revaluation surplus 38,367
Cost 86,666
Total 125,033

6. STOCKS
31.5.24 31.5.23
£    £   
Stocks consumables 24,246 22,568
Stocks livestock - 1,500
Stocks growing crops 6,200 10,700
30,446 34,768

7. DEBTORS
31.5.24 31.5.23
£    £   
Amounts falling due within one year:
Trade debtors 36,413 35,811
Other debtors 73,486 64,071
109,899 99,882

Amounts falling due after more than one year:
Other debtors - 10,842

Aggregate amounts 109,899 110,724

8. CURRENT ASSET INVESTMENTS
31.5.24 31.5.23
£    £   
Unlisted investments 143 143

R. & C. POOLE LIMITED (REGISTERED NUMBER: 01423992)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 48,758 54,402
Hire purchase contracts 28,745 23,633
Trade creditors 6,004 26,566
Taxation and social security 10,230 1,896
Other creditors 6,648 16,788
100,385 123,285

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 100,006 225,331
Hire purchase contracts 34,345 33,090
134,351 258,421

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 80,214 178,332

11. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank overdrafts 39,543 39,961
Bank loans 109,221 239,772
148,764 279,733

The bank loans are secured by a debenture over the fixed and floating assets of the company.

The other loans are secured by a legal charge over land owned by Mr FJ Poole.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
120 Ordinary £1 120 120

13. RESERVES

Retained earnings include both realised and unrealised profits and losses.

R. & C. POOLE LIMITED (REGISTERED NUMBER: 01423992)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

14. RELATED PARTY DISCLOSURES

At the end of the year the company was owed £999 by its directors (2023 - owed £8,949 to its directors). The loans were repayable on demand and no interest was charged during the year.