R.P. Collier Farms Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

R.P. Collier Farms Limited is a private company, limited by shares, registered in England & Wales. The company's registered number is 3232598 and registered office address is Tixall Heath Farm, Tixall, Stafford ST18 0XX.

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

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 if turnover are as follows:

Sale of goods

Turnover from the sale of crops and livestock 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 despatch of the goods.

Contract income

Turnover from contracting is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Rent

Rental income is recognised using the accrual model.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible assets acquired separately from a business are capitalised at cost. 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 Entitlement - 5 years

Provision is made for any impairment.

2.4. Tangible Fixed Assets and Depreciation

Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.

Freehold	- N/A
Plant & Machinery	- 15% on reducing balance
Motor Vehicles	- 25% on reducing balance
Tractors	- 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Initial recognition of the property is at cost of £535,000. No depreciation has been applied during the year as the revaluation model will be applied going forward. At the balance sheet date the cost equates to the fair value of the property.

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R.P. Collier Farms Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. 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.

2.6. Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 assesments in periods different from those in which they aare 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.

2.7. Government Grant

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.

2.8. 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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2024: 3)

4. Intangible Assets

	Other
	£
Cost
As at 1 April 2024	24,240

As at 31 March 2025	24,240

Amortisation
As at 1 April 2024	24,240

As at 31 March 2025	24,240

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	-

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R.P. Collier Farms Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

5. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Tractors	Total
	£	£	£	£	£
Cost
As at 1 April 2024	730,016	191,916	22,991	213,888	1,158,811
Additions	-	5,409	-	-	5,409

As at 31 March 2025	730,016	197,325	22,991	213,888	1,164,220

Depreciation
As at 1 April 2024	-	108,273	10,059	162,268	280,600
Provided during the period	-	13,361	3,233	12,905	29,499

As at 31 March 2025	-	121,634	13,292	175,173	310,099

Net Book Value
As at 31 March 2025	730,016	75,691	9,699	38,715	854,121

As at 1 April 2024	730,016	83,643	12,932	51,620	878,211

6. Stocks

	2025	2024
	£	£
Stock - Produce	78,698	71,693

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	11,090	11,315
Prepayments and accrued income	5,537	17,775
Tax	-	372
VAT	4,956	1,653
Other taxes and social security	-	72
Directors' loan accounts	24,811	26,943

	46,394	58,130

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	29,723	22,694
Bank loans and overdrafts	48,466	279,245
Other loans	50,000	-
Corporation tax	14,459	-
Accruals and deferred income	3,084	5,105

	145,732	307,044

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R.P. Collier Farms Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	304,626	153,630

Of the creditors falling due after more than one year the following amounts are due after more than five years.

	2025		2024
	£		£
Bank loans	147,741		47,157

10. Secured Creditors

Of the creditors the following amounts are secured.

	2025		2024
	£		£
Bank loans and overdrafts	353,092		432,875

11. Loans

An analysis of the maturity of loans is given below:

	2025	2024
	£	£
Amounts falling due within one year or on demand:
Bank loans	48,466	31,518
Other loans	50,000	-

	98,466	31,518

	2025	2024
	£	£
Amounts falling due between one and five years:
Bank loans	156,885	106,473

	2025	2024
	£	£
Amounts falling due after more than five years:
Bank loans	147,741	47,157

12. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
0 Ordinary Shares of £ 0 each	-	100
77 Ordinary A shares of £ 1 each	77	-
22 Ordinary B shares of £ 1 each	22	-
1 Ordinary C shares of £ 1 each	1	-

	100	-

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R.P. Collier Farms Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

13. Directors Advances, Credits and Guarantees

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2025:

	As at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Mrs Margaret Collier	5,793	4,063	5,793	-	4,063
Mr Thomas Collier	21,150	20,748	21,150	-	20,748

Beneficial loan interest has been charged at the HMRC advisory rate of 2.25% on the directors loan for T P & S Collier. All director's loans have been repaid in full since the balance sheet date.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		854,121		878,211

			854,121		878,211
CURRENT ASSETS
Stocks	6	78,698		71,693
Debtors	7	46,394		58,130
Cash at bank and in hand		19,633		-

		144,725		129,823
Creditors: Amounts Falling Due Within One Year	8	(145,732 )		(307,044 )

NET CURRENT ASSETS (LIABILITIES)			(1,007 )		(177,221 )

TOTAL ASSETS LESS CURRENT LIABILITIES			853,114		700,990

Creditors: Amounts Falling Due After More Than One Year	9		(304,626 )		(153,630 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(25,363 )		(27,484 )

NET ASSETS			523,125		519,876

CAPITAL AND RESERVES
Called up share capital	12		100		100
Profit and Loss Account			523,025		519,776

SHAREHOLDERS' FUNDS			523,125		519,876