REGISTERED NUMBER:
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R J BOWER LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2016 |
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REGISTERED NUMBER:
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R J BOWER LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2016 |
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R J BOWER LIMITED (REGISTERED NUMBER: 02604154) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2016 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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R J BOWER LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2016 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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BANKERS: |
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15 Market Square |
Stafford |
ST16 2BE |
R J BOWER LIMITED (REGISTERED NUMBER: 02604154) |
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BALANCE SHEET |
31 MAY 2016 |
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2016 | 2015 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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( |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Fair value reserve | 11 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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 J BOWER LIMITED (REGISTERED NUMBER: 02604154) |
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BALANCE SHEET - continued |
31 MAY 2016 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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R J BOWER LIMITED (REGISTERED NUMBER: 02604154) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2016 |
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1. | STATUTORY INFORMATION |
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R J Bower Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section |
1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act |
2006. The financial statements have been prepared under the historical cost convention. The date of transition |
was 1 June 2014 and the end of the comparative period was 31 May 2015. |
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The transition to FRS102 section 1A small entities has resulted in a small number of changes in accounting |
policies to those used previously. The nature of these changes and their impact on opening equity and profit |
for the comparative period are explained in the notes below. |
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The financial statements are presented in sterling which is the functional currency of the company and |
rounded to the nearest £. |
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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. |
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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: |
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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 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 on dispatch of the goods. |
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Interest receivable |
Interest income is recognised using the effective interest method. |
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Intangible assets - other |
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. |
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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 |
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Provision is made for any impairment. |
R J BOWER LIMITED (REGISTERED NUMBER: 02604154) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2016 |
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2. | ACCOUNTING POLICIES - continued |
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Tangible fixed assets |
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Freehold property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes |
all costs of purchase, costs 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. |
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Tax |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the |
current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax |
rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax represents the future tax consequences of transactions and events recognised in the financial |
statements of current and previous periods. It is recognised in respect of all timing differences, with certain |
exceptions. Timing differences are differences between taxable profits and total comprehensive income as |
stated in the financial statements that arise from the inclusion of income and expense in tax assessments in |
periods different from those in which they are recognised in the financial statements. |
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Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the |
balance sheet date that are expected to apply to the reversal of timing differences. |
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Leases |
Assets acquired under hire purchase contracts finance leases are capitalised and depreciated over the shorter |
of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between |
the finance charge and the reduction of the outstanding lease liability using the effective interest method. The |
related obligations, net of future finance charges, are included in creditors. |
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Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight |
line basis over the period of the lease. |
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Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other |
administrative expenses. |
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Government grants |
Government grants are recognised at the fair value of the asset received or receivable when there is |
reasonable assurance that the company will comply with conditions attaching to them and the grants will be |
received using the accrual model. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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R J BOWER LIMITED (REGISTERED NUMBER: 02604154) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2016 |
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 June 2015 |
and 31 May 2016 |
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AMORTISATION |
At 1 June 2015 |
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Charge for year |
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At 31 May 2016 |
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NET BOOK VALUE |
At 31 May 2016 |
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At 31 May 2015 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 June 2015 |
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Additions |
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Disposals |
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At 31 May 2016 |
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DEPRECIATION |
At 1 June 2015 |
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Charge for year |
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Eliminated on disposal |
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At 31 May 2016 |
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NET BOOK VALUE |
At 31 May 2016 |
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At 31 May 2015 |
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R J BOWER LIMITED (REGISTERED NUMBER: 02604154) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors |
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Other debtors |
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Directors' current accounts |
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Corporation tax |
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VAT |
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Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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Other creditors |
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Deferred income |
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Accrued expenses |
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Deferred government grants |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2016 | 2015 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Bank loans more than 5 years |
by instalments |
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Deferred government grants |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more than 5 years |
by instalments | 75,421 | 85,504 |
75,421 | 85,504 |
R J BOWER LIMITED (REGISTERED NUMBER: 02604154) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2016 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2016 | 2015 |
£ | £ |
Bank overdrafts |
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Bank loans |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary Shares | £1 | 100 | 100 |
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11. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 June 2015 |
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Transfer | ( |
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At 31 May 2016 |
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12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 May 2016 and |
31 May 2015: |
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2016 | 2015 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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No interest was charged. |