1.
General Information
R J Bower Limited
is a private company, limited by shares, registered in England & Wales. The company's registered number and registered office address can be found on the Company Information page.
2.
Accounting Policies
2.1.
Basis of Preparation of 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
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.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:
Sale of goods
Turnover from the sale of livestock and crops is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably. it is probable the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.
Interest receivable
Interest income is recognised using the effective interest method.
Contract Farming
Turnover from the contracting services is recognised when the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually the end of the cropping season.
2.3.
Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets acquired separately from a business are capitalised at fair value. Intangible assets acquired on business combinations are capitalised separately from goodwill if the fair value can be measured reliably on initial recognition.
Intangible assets are amortised on a straight line basis over their useful lives. The useful lives of intangible assets are as follows:
Basic Payment Scheme entitlements - 6 years
Provision is made for any impairment.
2.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
| Freehold |
|
| Plant & Machinery |
|
| Motor Vehicles |
|
| Fixtures & Fittings |
|
2.5.
Investments
Investments in subsidiary undertakings are recognised at cost.
R J Bower Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2025
2.6.
Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.7.
Stocks and Work in Progress
Stocks and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all cost of purchase, cost of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
2.8.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.
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.
2.9.
Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 68 (2024: 60)
R J Bower Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2025
4.
Intangible Assets
| Other | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at 1 June 2024 |
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| As at 31 May 2025 |
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| Amortisation | |||
| As at 1 June 2024 |
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| As at 31 May 2025 |
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| Net Book Value | |||
| As at 31 May 2025 |
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||
| As at 1 June 2024 |
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||
5.
Tangible Assets
| Land & Property | |||||
|---|---|---|---|---|---|
| Freehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| As at 1 June 2024 |
|
|
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| Additions |
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|
|
|
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| Disposals |
|
( |
( |
|
( |
| As at 31 May 2025 |
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|
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| Depreciation | |||||
| As at 1 June 2024 |
|
|
|
|
|
| Provided during the period |
|
|
|
|
|
| Disposals |
|
( |
( |
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( |
| As at 31 May 2025 |
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| Net Book Value | |||||
| As at 31 May 2025 |
|
|
|
|
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| As at 1 June 2024 |
|
|
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|
|
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
|
2025
|
2024
|
||
|
£
|
£
|
||
|
Plant and Machinery
|
158,656
|
181,227
|
|
|
Fixtures and Fittings
|
37,187
|
49,583
|
|
|
Assets in the course of construction
|
235,000
|
235,000
|
|
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none">
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430,844
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none">
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</svg>){kind=small}
|
432,598
|
R J Bower Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2025
6.
Investments
| Subsidiaries | |
|---|---|
| £ | |
| Cost | |
| As at 1 June 2024 |
|
| As at 31 May 2025 |
|
| Provision | |
| As at 1 June 2024 |
|
| As at 31 May 2025 |
|
| Net Book Value | |
| As at 31 May 2025 |
|
| As at 1 June 2024 |
|
7.
Stocks
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Finished goods |
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|
|
8.
Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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| Directors' loan accounts |
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9.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
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| Trade creditors |
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| Bank loans and overdrafts |
|
|
|
| Other taxes and social security |
|
|
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| VAT |
|
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| Other creditors |
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| Accruals and deferred income |
|
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| Directors' loan accounts |
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| Amounts owed to group undertakings |
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R J Bower Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2025
10.
Creditors: Amounts Falling Due After More Than One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
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| Bank loans |
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| Government grants after one year |
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Of the creditors falling due after more than one year the following amounts are due after more than five years.
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
|
|
11.
Secured Creditors
Of the creditors the following amounts are secured.
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts | 1,848,543 | 1,886,866 |
12.
Loans
An analysis of the maturity of loans is given below:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts falling due within one year or on demand: | |||
| Bank loans |
|
|
|
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts falling due between one and five years: | |||
| Bank loans |
|
|
|
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Amounts falling due after more than five years: | |||
| Bank loans |
|
|
|
13.
Obligations Under Finance Leases and Hire Purchase
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| The future minimum finance lease payments are as follows: | |||
| Not later than one year |
|
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| Later than one year and not later than five years |
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R J Bower Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2025
15.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
| As at 1 June 2024 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 May 2025 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Mr Richard Bower |
|
|
( |
- |
|
Interest of 2.25% (2024: 0%) has been charged on the director's loan, the loan is repayable on demand
16.
Controlling Parties
The company's immediate parent undertaking is
Hatherton Hall Farm Limited
.
The ultimate parent undertaking is
Hatherton Hall Farm Limited
(incorporated in England & Wales). Its registered office is
Lower Drayton Farm, Penkridge, Stafford, ST19 5RE
.