REGISTERED NUMBER: 07801754 (England and Wales)

R S Bright Limited

Unaudited Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

GM Bright

AM Bright

RS Bright

REGISTERED OFFICE:

Woodmanton Farm

Sarnesfield

Hereford

HR4 8RF

REGISTERED NUMBER:

07801754 (England and Wales)

ACCOUNTANTS:

The Hutchinson Partnership Limited

trading as The Hutchinson Partnership

Chartered Accountants

The Bull Pen

Grove Farm

Portway, Burghill

Hereford

HR4 8NF

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Income and Retained Earnings and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of R S Bright Limited for the year ended 31 March 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of R S Bright Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of R S Bright Limited and state those matters that we have agreed to state to the Board of Directors of R S Bright Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R S Bright Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that R S Bright Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of R S Bright Limited. You consider that R S Bright Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of R S Bright Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Hutchinson Partnership Limited

trading as The Hutchinson Partnership

Chartered Accountants

The Bull Pen

Grove Farm

Portway, Burghill

Hereford

HR4 8NF

30 October 2025

FIXED ASSETS

Tangible assets

4

4,355,243

3,360,880

CURRENT ASSETS

Stocks

2,739,257

3,300,866

Debtors

5

948,404

339,970

Cash at bank

776,121

15,554

4,463,782

3,656,390

CREDITORS

Amounts falling due within one year

6

2,295,863

1,889,122

NET CURRENT ASSETS

2,167,919

1,767,268

TOTAL ASSETS LESS CURRENT LIABILITIES

6,523,162

5,128,148

CREDITORS

Amounts falling due after more than one year

7

(162,756

)

(646,301

)

PROVISIONS FOR LIABILITIES

9

(785,385

)

(579,373

)

NET ASSETS

5,575,021

3,902,474

CAPITAL AND RESERVES

Allotted, issued and fully paid share capital

1,000

1,000

Capital redemption reserve

1,000

1,000

Retained earnings

5,573,021

3,900,474

SHAREHOLDERS' FUNDS

5,575,021

3,902,474

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2025 and were signed on its behalf by:

GM Bright - Director

RS Bright - Director

1.	STATUTORY INFORMATION

R S Bright 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

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.

The directors have considered the financial requirements of the company and consider that it will be able to operate within its agreed finance facilities for the next 12 months. The directors therefore consider it appropriate to prepare accounts on the going concern basis.

Turnover

Turnover represents potato sales, stated net of discounts, rebates, value added tax and other sales taxes.

The company recognises revenue when the significant risks and rewards of ownership have passed to the buyer, when the amount of revenue can be measured reliably, when it is probable that the economic benefits associated with the transaction will flow to the entity and when the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from services is recognised in the accounting periods in which the services are rendered.

The following criteria must be met before revenue is recognised:

Potato sales are recognised when the produce is collected from the farm, or from the arranged storage facility.

Renewable Heat Incentive income is recognised in the period the heat is generated.

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

-

not provided

Improvements to property

-

4% on cost

Plant and machinery

-

5% on reducing balance and 5% on cost

Stocks

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

The Company has the following biological assets which are valued as disclosed :-

Crops in store - valued at deemed cost

Growing crop - valued at the cost of inputs and cultivations up to the period end.

Taxation

Taxation for the year comprises current 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 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 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.

3.

EMPLOYEES

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

Totals

£

£

£

£

COST

At 1 April 2024

659,837

23,500

3,110,472

3,793,809

Additions

66,243

-

1,128,005

1,194,248

At 31 March 2025

726,080

23,500

4,238,477

4,988,057

DEPRECIATION

At 1 April 2024

-

2,820

430,109

432,929

Charge for year

-

940

198,945

199,885

At 31 March 2025

-

3,760

629,054

632,814

NET BOOK VALUE

At 31 March 2025

726,080

19,740

3,609,423

4,355,243

At 31 March 2024

659,837

20,680

2,680,363

3,360,880

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

225,747

34,622

Prepayments and accrued income

681,053

277,110

VAT

41,604

28,238

948,404

339,970

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

-

98,820

Trade creditors

569,609

152,553

Corporation tax payable

293,052

356,480

Directors' current accounts

43,516

539,357

Accruals and deferred income

1,389,686

741,912

2,295,863

1,889,122

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - due within 1-2

years

-

91,000

Bank loans - due within 2-5 years

-

279,000

Bank loans - due after more then 5 years by instalments

-

105,000

Accruals and deferred income

162,756

171,301

162,756

646,301

Amounts falling due in more than five years:

Repayable by instalments

Bank loans - due after more then 5 years by instalments

-

105,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

-

565,000

The loan is secured by a guarantee from two of the Directors including a legal charge of Hyatt Farm, Sarnesfield and Broadfields, Kinnersley.

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax - accelerated capital allowances

785,385

579,373

Deferred

tax

£

Balance at 1 April 2024

579,373

Provided during year

206,012

Balance at 31 March 2025

785,385

10.	RELATED PARTY DISCLOSURES

During the year, the following purchases were made from a partnership in which the directors are partners:

2025

2024

£

£

Contract

1,132,000

875,820

Storage

70,000

70,000

Other charges

10,000

89,752

At the balance sheet date £18,582 (2024 - £120,582) was owed to the partnership.

At the balance sheet date £Nil (2024 - £39,173) was due from the partnership.

At the balance sheet date £43,516 (2024 - £539,357) was owed to the directors, this is repayable on demand. Interest is charged at 2.25% when the balance is overdraw, otherwise it is interest free. The maximum overdrawn amount during the year was £976,339.