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REGISTERED NUMBER: 00922304 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

R.B.R. (Crops) Limited

R.B.R. (Crops) Limited (Registered number: 00922304)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


R.B.R. (Crops) Limited (Registered number: 00922304)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £ £
Fixed assets
Tangible assets 5 6,619,997 6,726,303
Investments 6 726 726
6,620,723 6,727,029

Current assets
Stocks 3,000 5,000
Debtors 7 1,011,875 101,446
Cash at bank 230,068 426,312
1,244,943 532,758
Creditors
Amounts falling due within one year 8 (1,048,816 ) (278,135 )
Net current assets 196,127 254,623
Total assets less current liabilities 6,816,850 6,981,652

Creditors
Amounts falling due after more than one
year

9

(884,726

)

(934,983

)

Provisions for liabilities (482,268 ) (478,172 )
Net assets 5,449,856 5,568,497

R.B.R. (Crops) Limited (Registered number: 00922304)

Balance Sheet - continued
30 June 2024

30.6.24 30.6.23
Notes £ £
Capital and reserves
Called up share capital 898 898
Share premium 12 12
Revaluation reserve 12 3,929,909 3,975,268
Capital redemption reserve 302 302
Retained earnings 1,518,735 1,592,017
5,449,856 5,568,497

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.

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by:




Mr M S Brighton - Director



Mr S P Brighton - Director


R.B.R. (Crops) Limited (Registered number: 00922304)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. Statutory information

R.B.R. (Crops) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00922304

Registered office: Carlton Farm
Old Yarmouth Road
North Walsham
Norfolk
NR28 9NA

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


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about R.B.R. (Crops) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2 - 10% straight line
Plant and machinery - 15% - 20% on reducing balance and Straight line over 25 years
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost
Potato boxes - 7.5% on cost

R.B.R. (Crops) Limited (Registered number: 00922304)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


3. Accounting policies - continued

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items. Net realisable value is calculated at the lower of cost or selling price less cost to complete.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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.


R.B.R. (Crops) Limited (Registered number: 00922304)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


3. 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the 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.

4. Employees and directors

The average number of employees during the year was 8 (2023 - 9 ) .

R.B.R. (Crops) Limited (Registered number: 00922304)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


5. Tangible fixed assets
Fixtures
Freehold Plant and and
property machinery fittings
£ £ £
Cost
At 1 July 2023 6,491,123 742,890 69,910
Additions - 27,851 7,931
Disposals (67,800 ) - -
At 30 June 2024 6,423,323 770,741 77,841
Depreciation
At 1 July 2023 227,836 475,201 25,483
Charge for year 46,644 31,170 7,174
Eliminated on disposal - - -
At 30 June 2024 274,480 506,371 32,657
Net book value
At 30 June 2024 6,148,843 264,370 45,184
At 30 June 2023 6,263,287 267,689 44,427

Motor Potato
vehicles boxes Totals
£ £ £
Cost
At 1 July 2023 105,908 166,671 7,576,502
Additions 60,221 - 96,003
Disposals (40,522 ) - (108,322 )
At 30 June 2024 125,607 166,671 7,564,183
Depreciation
At 1 July 2023 76,792 44,887 850,199
Charge for year 12,473 12,355 109,816
Eliminated on disposal (15,829 ) - (15,829 )
At 30 June 2024 73,436 57,242 944,186
Net book value
At 30 June 2024 52,171 109,429 6,619,997
At 30 June 2023 29,116 121,784 6,726,303

R.B.R. (Crops) Limited (Registered number: 00922304)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


5. Tangible fixed assets - continued

The land and buildings included in tangible fixed assets were valued as at 1st July 2015 by Mr Simon Evans MRICS FAAV and Mr Nicholas Williams BSc (Hons) MRICS of Arnolds Keys. A deferred tax provision has been included on the revaluation of the land and buildings. As at 30th June 2024 a provision of £470,779 2023: £475,173) was included within the total deferred tax provision.

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

20242023
££
Historical cost2,502,0942,545,342
Historical depreciation(753,939)(732,495)

Historical net book value1,748,1551,812,847

6. Fixed asset investments

30.6.24 30.6.23
£ £
Shares in group undertakings 296 296
Loans to group undertakings 300 300
Participating interests 130 130
726 726

Additional information is as follows:
Shares in
group Interest in
undertakings associate Totals
£ £ £
Cost
At 1 July 2023
and 30 June 2024 296 130 426
Net book value
At 30 June 2024 296 130 426
At 30 June 2023 296 130 426
Loans to
group
undertakings
£
At 1 July 2023
and 30 June 2024 300

R.B.R. (Crops) Limited (Registered number: 00922304)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


7. Debtors: amounts falling due within one year
30.6.24 30.6.23
£ £
Trade debtors 928,457 32,205
Other debtors 83,418 69,241
1,011,875 101,446

8. Creditors: amounts falling due within one year
30.6.24 30.6.23
£ £
Bank loans and overdrafts 26,845 26,845
Hire purchase contracts (see note 10) 42,915 36,941
Trade creditors 854,548 61,654
Taxation and social security 11,689 20,136
Other creditors 112,819 132,559
1,048,816 278,135

9. Creditors: amounts falling due after more than one year
30.6.24 30.6.23
£ £
Bank loans 725,140 725,140
Hire purchase contracts (see note 10) 159,586 183,122
Other creditors - 26,721
884,726 934,983

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 617,760 617,760

10. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
30.6.24 30.6.23
£ £
Net obligations repayable:
Within one year 42,915 36,941
Between one and five years 159,586 183,122
202,501 220,063

R.B.R. (Crops) Limited (Registered number: 00922304)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


10. Leasing agreements - continued

Non-cancellable
operating leases
30.6.24 30.6.23
£ £
Within one year 7,563 16,638
Between one and five years - 8,338
7,563 24,976

11. Secured debts

The following secured debts are included within creditors:

30.6.24 30.6.23
£ £
Bank loans 751,985 751,985
Hire purchase contracts 202,501 220,063
954,486 972,048

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

The total amount of hire purchase obligations are secured on the assets concerned.

The total amount of the pension creditor is a loan from the directors pension fund, the directors have given a personal guarantee over the liability (included within other creditors)

12. Reserves
Revaluation
reserve
£
At 1 July 2023 3,975,268
Reclassification from revaluation reserve to
profit and loss account

(49,752

)

Revaluation of tangible assets 4,393

At 30 June 2024 3,929,909

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.

13. Contingencies

A corporate cross guarantee has been given to the company's bankers to cover 'All Monies' owed by R.B.R. Potatoes Limited.

R.B.R. (Crops) Limited (Registered number: 00922304)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


14. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£ £
Mr M S Brighton
Balance outstanding at start of year 66,736 -
Amounts advanced 18,500 66,736
Amounts repaid (66,736 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,500 66,736

Mr S P Brighton
Balance outstanding at start of year - -
Amounts advanced 10,089 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,089 -

At the year end the directors owed the company £28,589. This was repaid to the company within nine months of the year end.