REGISTERED NUMBER: SC090622 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Bowland Estate Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

A F Constantine

G F Litchfield

W G Litchfield

E T Litchfield

REGISTERED OFFICE:

C/O Brodies LLP

Capital Square

58 Morrison Street

Edinburgh

EH3 8BP

REGISTERED NUMBER:

SC090622 (Scotland)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

Alexandra House

43 Alexandra St

Nottingham

Nottinghamshire

NG5 1AY

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bowland Estate Limited for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Bowland Estate Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bowland Estate Limited and state those matters that we have agreed to state to the Board of Directors of Bowland Estate Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bowland Estate Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Bowland Estate Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bowland Estate Limited. You consider that Bowland Estate Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Bowland Estate Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wright Vigar Limited

Chartered Accountants & Business Advisers

Alexandra House

43 Alexandra St

Nottingham

Nottinghamshire

NG5 1AY

1 December 2025

FIXED ASSETS

Tangible assets

4

669,332

576,406

CURRENT ASSETS

Stocks

7,313

13,439

Debtors

5

900,726

793,032

Cash at bank and in hand

49,994

36,853

958,033

843,324

CREDITORS

Amounts falling due within one year

6

391,242

250,430

NET CURRENT ASSETS

566,791

592,894

TOTAL ASSETS LESS CURRENT LIABILITIES

1,236,123

1,169,300

PROVISIONS FOR LIABILITIES

118,331

115,055

NET ASSETS

1,117,792

1,054,245

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

1,107,792

1,044,245

1,117,792

1,054,245

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 December 2025 and were signed on its behalf by:

A F Constantine - Director

1.	STATUTORY INFORMATION

Bowland Estate Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The principal activity of the company is to manage the Bowland Estate in Scotland, and to provide support services to Bowland Farms, a trading farm partnership that operates at the Estate.

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.

The financial statements are prepared in sterling which is the functional currency of the entity, rounded to the nearest £.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for management and expense recharges made to a related farming partnership for which the company provides management services.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price.

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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Stock valuations and recoverability of trading assets - these involve judgements as to the extent to which provisions are required to account for the risk of irrecoverability or obsolescence.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2024 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Farm

property

Plant and

Motor

improvements

machinery

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

10,664

1,153,512

73,584

1,237,760

Additions

14,619

144,709

-

159,328

Disposals

-

(114,929

)

-

(114,929

)

At 31 March 2025

25,283

1,183,292

73,584

1,282,159

DEPRECIATION

At 1 April 2024

6,949

595,786

58,619

661,354

Charge for year

500

39,711

3,741

43,952

Eliminated on disposal

-

(92,479

)

-

(92,479

)

At 31 March 2025

7,449

543,018

62,360

612,827

NET BOOK VALUE

At 31 March 2025

17,834

640,274

11,224

669,332

At 31 March 2024

3,715

557,726

14,965

576,406

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 April 2024

and 31 March 2025

243,760

DEPRECIATION

At 1 April 2024

38,509

Charge for year

10,723

At 31 March 2025

49,232

NET BOOK VALUE

At 31 March 2025

194,528

At 31 March 2024

205,251

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by a connected business

853,922

747,960

Other debtors

46,804

45,072

900,726

793,032

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

14,025

19,167

Trade creditors

349,153

174,817

Taxation and social security

13,093

22,403

Other creditors

14,971

34,043

391,242

250,430

7.	RELATED PARTY DISCLOSURES

Included within other debtors are balances owed by the directors of £23,580 (2024: £22,479).

No interest is charged on the overdrawn loan account balances. Advances are unsecured and repayable on demand. The balance was fully repaid after the financial year end.