REGISTERED NUMBER: 00624361 (England and Wales)

JOHN BOURNE & CO. LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J Bourne

P M Burdett

J Mozley

REGISTERED OFFICE:

The Wharf

Rye Road

Newenden

Cranbrook

Kent

TN18 5QG

REGISTERED NUMBER:

00624361 (England and Wales)

ACCOUNTANTS:

McCabe Ford Williams

Chartered Accountants

89 King Street

Maidstone

Kent

ME14 1BG

FIXED ASSETS

Tangible assets

5

1,674,131

1,427,657

CURRENT ASSETS

Stocks

69,286

77,286

Debtors

6

2,009,282

1,248,884

Cash at bank and in hand

767

266,344

2,079,335

1,592,514

CREDITORS

Amounts falling due within one year

7

1,904,852

1,494,949

NET CURRENT ASSETS

174,483

97,565

TOTAL ASSETS LESS CURRENT LIABILITIES

1,848,614

1,525,222

CREDITORS

Amounts falling due after more than one year

8

(519,448

)

(390,872

)

PROVISIONS FOR LIABILITIES

(308,602

)

(259,275

)

NET ASSETS

1,020,564

875,075

CAPITAL AND RESERVES

Called up share capital

11

150,000

150,000

Other reserves

6,885

6,885

Retained earnings

863,679

718,190

SHAREHOLDERS' FUNDS

1,020,564

875,075

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

J Bourne - Director

1.	STATUTORY INFORMATION

John Bourne & Co. Ltd. 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.	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 directors have assessed the major risks to which the company is exposed and assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of one year from the date of approval of the financial statements. The company holds significant reserves and has significant cash balances. For this reason the directors continue to adopt the going concern basis in preparing the financial statements.

Significant judgements and estimates

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets.

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 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

-

10% on cost and land not provided for

Plant and machinery

-

25% on cost and 25% on reducing balance

Special types

-

25% on reducing balance

Commercial vehicles

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computers and fixtures

-

33% on cost and straight line over 25 years

Stocks

Stocks are valued at the lower of cost and net realisable value. Cost comprises purchase price and, where appropriate, applicable overheads less estimates of rebates for certain chemicals. Chalk is stated at quarrying cost which includes labour cost and attributable overheads. Allowance is made for obsolete and slow moving items.

Financial instruments

The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

a) Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

b) Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand.

c) Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet and are depreciated over their useful lives. The capital elements of the future obligations under finance leases and hire purchase contracts are included as liabilities in the balance sheet. The interest elements of the obligations are charged to the profit and loss account over the terms of the finance leases and hire purchase contracts and approximate to a constant proportion of the balance of capital repayments outstanding. Operating lease rentals are charged to the profit and loss account on a straight line basis over the term of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution scheme for selected employees. The premiums are charged to the profit and loss account in the periods in which they are paid and the company has no liability beyond the premiums paid. The company also operates a small self administered pension scheme for the benefit of selected employees. The contributions are charged to the profit and loss account when paid and the company has no liability beyond these contributions.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

Inventories are also assessed for impairment at each reporting date. Each item of inventory is compared to the last sold date and an impairment loss recognised on a percentage basis in profit and loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit and loss.

Investments

Investments held as fixed assets are stated at cost (being purchase consideration and incidental costs) less provision for any permanent diminution in value.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 32 ) .

5.	TANGIBLE FIXED ASSETS

Land and

Plant and

Special

buildings

machinery

types

£

£

£

COST

At 1 January 2024

291,870

205,586

240,136

Additions

17,965

40,192

-

Disposals

(114,807

)

(139,065

)

(77,750

)

At 31 December 2024

195,028

106,713

162,386

DEPRECIATION

At 1 January 2024

221,311

175,989

204,812

Charge for year

18,905

9,915

8,831

Eliminated on disposal

(114,808

)

(136,023

)

(77,750

)

At 31 December 2024

125,408

49,881

135,893

NET BOOK VALUE

At 31 December 2024

69,620

56,832

26,493

At 31 December 2023

70,559

29,597

35,324

Computers

Commercial

Motor

and

vehicles

vehicles

fixtures

Totals

£

£

£

£

COST

At 1 January 2024

2,437,703

52,716

52,786

3,280,797

Additions

452,651

-

19,104

529,912

Disposals

(36,000

)

(15,435

)

(47,609

)

(430,666

)

At 31 December 2024

2,854,354

37,281

24,281

3,380,043

DEPRECIATION

At 1 January 2024

1,149,599

51,634

49,795

1,853,140

Charge for year

216,875

258

4,744

259,528

Eliminated on disposal

(15,253

)

(15,313

)

(47,609

)

(406,756

)

At 31 December 2024

1,351,221

36,579

6,930

1,705,912

NET BOOK VALUE

At 31 December 2024

1,503,133

702

17,351

1,674,131

At 31 December 2023

1,288,104

1,082

2,991

1,427,657

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Commercial

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2024

-

811,395

811,395

Additions

32,977

433,814

466,791

Reclassification/transfer

-

(74,835

)

(74,835

)

At 31 December 2024

32,977

1,170,374

1,203,351

DEPRECIATION

At 1 January 2024

-

127,595

127,595

Charge for year

1,374

120,027

121,401

Reclassification/transfer

-

(29,727

)

(29,727

)

At 31 December 2024

1,374

217,895

219,269

NET BOOK VALUE

At 31 December 2024

31,603

952,479

984,082

At 31 December 2023

-

683,800

683,800

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

250,042

297,017

Other debtors

1,523,901

801,422

Director's loan account

1,773

-

Prepayments

233,566

150,445

2,009,282

1,248,884

The trade debtors provide security in respect of the confidential invoice discounting facility.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

10,114

13,067

Confidential invoice discounting facility

120,623

191,235

Hire purchase contracts (see note 9)

318,798

142,704

Trade creditors

334,015

394,161

Other taxes and PAYE taxes

56,745

137,914

Other creditors

1,045,239

604,533

Accruals

8,901

5,111

Wages control account

10,417

6,223

Director's loan account

-

1

1,904,852

1,494,949

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans - 1-2 years

9,524

19,638

Hire purchase contracts (see note 9)

429,924

371,234

Other creditors

80,000

-

519,448

390,872

9.	OPERATING LEASE COMMITMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.24

31.12.23

£

£

Net obligations repayable:

Within one year

318,798

142,704

Between one and five years

429,924

371,234

748,722

513,938

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Hire purchase contracts

748,722

513,938

Invoice Discounting

120,622

191,235

869,344

705,173

The bank loans are secured by a mortgage debenture incorporating fixed and floating charges over all the company's assets and legal mortgages over freehold and leasehold land and buildings. Obligations under finance leases or hire purchase agreements are secured on the assets which they finance.

The confidential invoice discounting facility is secured on trade debtors.

11.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

150,000

Share capital

£1

150,000

150,000

12.	CONTINGENT LIABILITIES

John Bourne & Co. Ltd. gave a cross-company guarantee on the RBS Confidential invoice discounting facility account balance in its related undertaking, Bourne Amenity Limited. The balance on this account at 31st December 2023 was £851,520 (2023: £878,241).

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

P J Bourne

Balance outstanding at start of year

-

8,621

Amounts advanced

1,773

15,079

Amounts repaid

-

(23,700

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,773

-

The advance was settled within 9 months of the year end.