B.S. Povey (Winterbourne) Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 00627144 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

FOR

B.S. POVEY (WINTERBOURNE) LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

C Povey

Mrs M J Povey

S C Povey

SECRETARY:

Mrs M J Povey

REGISTERED OFFICE:

East Shefford House

Great Shefford

Hungerford

Berkshire

RG17 7EF

REGISTERED NUMBER:

00627144 (England and Wales)

ACCOUNTANTS:

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

FIXED ASSETS

Tangible assets

4

1,557,671

1,609,042

Investment property

5

750,000

750,000

2,307,671

2,359,042

CURRENT ASSETS

Stocks

329,571

232,714

Debtors

6

182,918

101,031

Cash at bank

71,623

107,126

584,112

440,871

CREDITORS

Amounts falling due within one year

7

669,547

610,191

NET CURRENT LIABILITIES

(85,435

)

(169,320

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,222,236

2,189,722

PROVISIONS FOR LIABILITIES

74,690

83,430

NET ASSETS

2,147,546

2,106,292

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Fair value reserve

9

172,506

172,506

Retained earnings

1,965,040

1,923,786

SHAREHOLDERS' FUNDS

2,147,546

2,106,292

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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 January 2023 and were signed on its behalf by:

S C Povey - Director

1.	STATUTORY INFORMATION

B.S. Povey (Winterbourne) 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 as modified by the revaluation of certain 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.

Freehold property

-

not provided

Deadstock, vehicles & tractors

-

15% on cost

Barns & driers

-

10% 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.

Taxation

Taxation for the year comprises current and deferred 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 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.

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.

Investment properties

Investment properties are included in the accounts at their open market value in accordance with the Financial Reporting Standards.

Government grants

The monies received relating to the Basic Payment Scheme is treated as income in accordance with the Financial Reporting Standard for Smaller Entities. Recognition does not take place until there is both compliance with the relevant conditions for receipt of the Basic Payment Scheme and reasonable assurance as to receipt.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Deadstock,

Freehold

vehicles

Barns &

property

& tractors

driers

Totals

£

£

£

£

COST

At 1 July 2021

1,338,668

332,162

387,841

2,058,671

Additions

-

4,500

-

4,500

At 30 June 2022

1,338,668

336,662

387,841

2,063,171

DEPRECIATION

At 1 July 2021

-

286,736

162,893

449,629

Charge for year

-

17,087

38,784

55,871

At 30 June 2022

-

303,823

201,677

505,500

NET BOOK VALUE

At 30 June 2022

1,338,668

32,839

186,164

1,557,671

At 30 June 2021

1,338,668

45,426

224,948

1,609,042

Freehold property consists largely of farm land. The remainder represents farm cottages and farm buildings. No provision for depreciation is made as the directors believe the cottages do not decrease in value and any provision on the farm buildings would be immaterial.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2021

and 30 June 2022

750,000

NET BOOK VALUE

At 30 June 2022

750,000

At 30 June 2021

750,000

Fair value at 30 June 2022 is represented by:

£

Valuation in 2019

212,970

Cost

537,030

750,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

30.6.21

£

£

Trade debtors

160,461

63,028

VAT

-

16,369

Prepayments and accrued income

22,457

21,634

182,918

101,031

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

30.6.21

£

£

Bank loans and overdrafts

262,832

299,779

Trade creditors

148,931

107,840

Tax

36,275

32,704

Social security and other taxes

361

454

VAT

408

-

Other creditors

126,314

104,488

Directors' loan accounts

56,100

56,426

Accruals and deferred income

38,326

8,500

669,547

610,191

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.22

30.6.21

£

£

Bank overdrafts

262,832

299,779

9.

RESERVES

Fair

value

reserve

£

At 1 July 2021

and 30 June 2022

172,506