Company No: 04216679 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	26,939		39,990
		26,939		39,990
Current assets
Stocks		150,177		211,767
Debtors	4	206,800		215,373
Cash at bank and in hand		234,100		327,442
		591,077		754,582
Creditors: amounts falling due within one year	5	( 189,010)		( 354,915)
Net current assets		402,067		399,667
Total assets less current liabilities		429,006		439,657
Net assets		429,006		439,657
Capital and reserves
Called-up share capital		1,002		1,002
Share premium account		328,232		328,232
Profit and loss account		99,772		110,423
Total shareholder's funds		429,006		439,657

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

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Bowmans Farms Limited (registered number: 04216679) were approved and authorised for issue by the Board of Directors on 29 September 2025. They were signed on its behalf by:

H R Murray-Philipson Director

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

Bowmans Farms 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 Old Library Chambers, 21 Chipper Lane, Salisbury, Wiltshire, SP1 1BG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Bowmans Farms Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Turnover

Turnover comprises revenue recognised in respect of agricultural, residential and other rents, sale of farming produce and related income, sale of energy and other miscellaneous sales made during the year.

Turnover also includes Basic Payment Scheme receipts which are recognised on a calendar year basis and environmental grant receipts which are recognised in the period in which they are received.

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 enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	5 - 10 years straight line
Plant and machinery	5 - 10 years straight line

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stock is valued at the lower of cost and net realisable value. Where accurate cost figures are not available, the deemed cost of production has been used on the following bases:

Crops in store - 75% of market value.

Financial instruments

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

Trade and other debtors and creditors are classified as basic financial instruments and are measured at transaction price. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.

Interest bearing bank loans, overdrafts and other loans which meet the criteria to be classified as basic financial instruments are recorded at the present value of cash payable to the bank.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Total
	£		£		£
Cost
At 01 January 2024	679,757		19,864		699,621
At 31 December 2024	679,757		19,864		699,621
Accumulated depreciation
At 01 January 2024	644,148		15,483		659,631
Charge for the financial year	11,658		1,393		13,051
At 31 December 2024	655,806		16,876		672,682
Net book value
At 31 December 2024	23,951		2,988		26,939
At 31 December 2023	35,609		4,381		39,990

4. Debtors

	2024		2023
	£		£
Trade debtors	77,505		12,838
Deferred tax asset	963		0
Other debtors	128,332		202,535
	206,800		215,373

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	123,802		5,322
Amounts owed to Parent undertakings	0		225,000
Accruals	41,923		77,860
Taxation and social security	11,144		36,892
Other creditors	12,141		9,841
	189,010		354,915