Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr C A Rowland 01/04/2006 Mrs E C Rowland 19/12/2019 Mrs E W P Rowland 01/05/1991 18 October 2024 The principal activity of the company is farming within the United Kingdom. 01322726 2024-03-31 01322726 bus:Director1 2024-03-31 01322726 bus:Director2 2024-03-31 01322726 bus:Director3 2024-03-31 01322726 2023-03-31 01322726 core:CurrentFinancialInstruments 2024-03-31 01322726 core:CurrentFinancialInstruments 2023-03-31 01322726 core:Non-currentFinancialInstruments 2024-03-31 01322726 core:Non-currentFinancialInstruments 2023-03-31 01322726 core:ShareCapital 2024-03-31 01322726 core:ShareCapital 2023-03-31 01322726 core:RetainedEarningsAccumulatedLosses 2024-03-31 01322726 core:RetainedEarningsAccumulatedLosses 2023-03-31 01322726 core:OtherResidualIntangibleAssets 2023-03-31 01322726 core:OtherResidualIntangibleAssets 2024-03-31 01322726 core:LandBuildings 2023-03-31 01322726 core:OtherPropertyPlantEquipment 2023-03-31 01322726 core:LandBuildings 2024-03-31 01322726 core:OtherPropertyPlantEquipment 2024-03-31 01322726 core:ListedExchangeTraded core:WithinOneYear 2024-03-31 01322726 core:ListedExchangeTraded core:WithinOneYear 2023-03-31 01322726 1 2024-03-31 01322726 1 2023-03-31 01322726 2 2024-03-31 01322726 2 2023-03-31 01322726 3 2024-03-31 01322726 3 2023-03-31 01322726 4 2024-03-31 01322726 4 2023-03-31 01322726 bus:OrdinaryShareClass1 2024-03-31 01322726 bus:OrdinaryShareClass2 2024-03-31 01322726 bus:OrdinaryShareClass3 2024-03-31 01322726 bus:OrdinaryShareClass4 2024-03-31 01322726 2023-04-01 2024-03-31 01322726 bus:FilletedAccounts 2023-04-01 2024-03-31 01322726 bus:SmallEntities 2023-04-01 2024-03-31 01322726 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 01322726 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01322726 bus:Director1 2023-04-01 2024-03-31 01322726 bus:Director2 2023-04-01 2024-03-31 01322726 bus:Director3 2023-04-01 2024-03-31 01322726 core:OtherResidualIntangibleAssets core:TopRangeValue 2023-04-01 2024-03-31 01322726 core:LandBuildings core:BottomRangeValue 2023-04-01 2024-03-31 01322726 core:LandBuildings core:TopRangeValue 2023-04-01 2024-03-31 01322726 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 01322726 2022-04-01 2023-03-31 01322726 core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 01322726 core:LandBuildings 2023-04-01 2024-03-31 01322726 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 01322726 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 01322726 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 01322726 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 01322726 bus:OrdinaryShareClass3 2023-04-01 2024-03-31 01322726 bus:OrdinaryShareClass3 2022-04-01 2023-03-31 01322726 bus:OrdinaryShareClass4 2023-04-01 2024-03-31 01322726 bus:OrdinaryShareClass4 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 01322726 (England and Wales)

P J ROWLAND AND SONS (FARMERS) LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

P J ROWLAND AND SONS (FARMERS) LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

P J ROWLAND AND SONS (FARMERS) LIMITED

BALANCE SHEET

As at 31 March 2024
P J ROWLAND AND SONS (FARMERS) LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 591 886
Tangible assets 4 1,340,486 1,308,232
Investments 5 2,858 2,858
1,343,935 1,311,976
Current assets
Stocks 242,034 268,098
Debtors 6 312,325 168,589
Investments 7 393,904 372,501
Cash at bank and in hand 748,504 791,491
1,696,767 1,600,679
Creditors: amounts falling due within one year 8 ( 208,375) ( 176,024)
Net current assets 1,488,392 1,424,655
Total assets less current liabilities 2,832,327 2,736,631
Creditors: amounts falling due after more than one year 9 ( 7,560) ( 5,191)
Provision for liabilities ( 144,825) ( 144,607)
Net assets 2,679,942 2,586,833
Capital and reserves
Called-up share capital 10 1,000 1,000
Profit and loss account 2,678,942 2,585,833
Total shareholders' funds 2,679,942 2,586,833

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of P J Rowland and Sons (Farmers) Limited (registered number: 01322726) were approved and authorised for issue by the Board of Directors on 18 October 2024. They were signed on its behalf by:

Mr C A Rowland
Director
P J ROWLAND AND SONS (FARMERS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
P J ROWLAND AND SONS (FARMERS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

P J Rowland and Sons (Farmers) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ratfyn Farm, Amesbury, SP4 7EB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Land and buildings 0 - 25 years straight line
Plant and machinery etc. 15 - 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases


The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 10 9

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 April 2023 1,476 1,476
At 31 March 2024 1,476 1,476
Accumulated amortisation
At 01 April 2023 590 590
Charge for the financial year 295 295
At 31 March 2024 885 885
Net book value
At 31 March 2024 591 591
At 31 March 2023 886 886

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 April 2023 846,643 1,383,801 2,230,444
Additions 0 174,211 174,211
Disposals 0 ( 92,700) ( 92,700)
At 31 March 2024 846,643 1,465,312 2,311,955
Accumulated depreciation
At 01 April 2023 114,123 808,089 922,212
Charge for the financial year 8,372 110,887 119,259
Disposals 0 ( 70,001) ( 70,001)
At 31 March 2024 122,495 848,974 971,469
Net book value
At 31 March 2024 724,148 616,338 1,340,486
At 31 March 2023 732,520 575,712 1,308,232

5. Fixed asset investments

2024 2023
£ £
Other investments and loans 2,858 2,858

6. Debtors

2024 2023
£ £
Trade debtors 63,577 37,959
Corporation tax 28,922 28,922
Other debtors 219,826 101,708
312,325 168,589

7. Current asset investments

2024 2023
£ £
Listed investments – at fair value 374,066 322,287
Fair value adjustments 9,158 ( 6,459)
Additions 53,041 147,925
Disposals ( 42,573) ( 90,415)
Equalisations 212 728
393,904 374,066

8. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 67,790 51,458
Taxation and social security 74,736 108,749
Obligations under finance leases and hire purchase contracts 50,191 5,191
Other creditors 15,658 10,626
208,375 176,024

9. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 7,560 5,191

10. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
600 Ordinary A shares of £ 1.00 each 600 600
50 Ordinary B shares of £ 1.00 each 50 50
50 Ordinary C shares of £ 1.00 each 50 50
300 Ordinary D shares of £ 1.00 each 300 300
1,000 1,000

11. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Balance b/fwd 76,954 86,361
Advanced 35,025 44,757
Repaid (54,164) (54,164)
Balance c/fwd 57,815 76,954