Registered number: 07768823
FOR THE YEAR ENDED 31 MARCH 2025
RUMWOOD GREEN FARM LTD
COMPANY INFORMATION
RUMWOOD GREEN FARM LTD
CONTENTS
RUMWOOD GREEN FARM LTD
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
For the year under review the principal business activities of the Group comprised of the production of soft and top fruit for UK retail customers together with packing services.
The results reflect growth across the core enterprises across the Group, comprising an increase in turnover to £98,097,986 (2024: £79,886,456), an increase in Gross profit from 13.1% to 16.2%, and an increase in profit before tax to £13,604,187 (2024: £7,960,022).
Net assets for the Group increased to £39,677,283 (2024: £29,233,858).
The directors monitor performance of the Group's activities using a number of financial and operational measures within its control, including measurement of performance against business plans, appraisal on investments and individual enterprise performance monitoring with production focus being measured on a net return and cost per unit of production and yield (per plant and per hectare), together with regular monitoring of seasonal labour deployment across all business activities.
As a result of continual monitoring, adaption and investment to meet market challenges and business opportunities in both the production and packing service sector the Group has seen growth in its key performance indicators, mainly driven by an increase in production yields, improvements in crop and husbandry management, continued focus on the deployment and efficiency of labour and optimisation of processing and service facilities in the packing operations.
Net assets for the Group increased to £39,677,283 (2024: £29,233,858).
The directors monitor performance of the Group's activities using a number of financial and operational measures within its control, including measurement of performance against business plans, appraisal on investments and individual enterprise performance monitoring with production focus being measured on a net return and cost per unit of production and yield (per plant and per hectare), together with regular monitoring of seasonal labour deployment across all business activities.
As a result of continual monitoring, adaption and investment to meet market challenges and business opportunities in both the production and packing service sector the Group has seen growth in its key performance indicators, mainly driven by an increase in production yields, improvements in crop and husbandry management, continued focus on the deployment and efficiency of labour and optimisation of processing and service facilities in the packing operations.
The directors have a duty to promote the success of the Group for the benefit of the shareholders and other key stakeholders as a whole and to describe how this duty has been performed with regard to those matters set out in section 172 of the Companies Act 2006 ("section 172").
The directors have identified the Group's main stakeholders as the following:
The directors have identified the Group's main stakeholders as the following:
∙The Group's shareholders
Principal considerations of the board are whether the trading objectives and investment strategies of the Group are meeting shareholder expectations. These objectives and strategies are discussed and reviewed regularly. Through regular engagement with all trading partners, managers, staff, and external credit providers the board can monitor its performance against these objectives.
Principal considerations of the board are whether the trading objectives and investment strategies of the Group are meeting shareholder expectations. These objectives and strategies are discussed and reviewed regularly. Through regular engagement with all trading partners, managers, staff, and external credit providers the board can monitor its performance against these objectives.
∙The Customers
The board recognises the importance of working in partnership with its key trading partners to manage expectations, deliver a superior service level and maintain supply of quality produce to the fruit sector. With a strategy for investment in growing systems and providing innovative and market leading solutions to the cold chain sector, together with regular dialogue to foster relationships the board can meet these expectations.
The board recognises the importance of working in partnership with its key trading partners to manage expectations, deliver a superior service level and maintain supply of quality produce to the fruit sector. With a strategy for investment in growing systems and providing innovative and market leading solutions to the cold chain sector, together with regular dialogue to foster relationships the board can meet these expectations.
∙The Staff
The board seeks to engage regularly with staff at all levels via a number of structured leadership forums. Investment in and the development of the Groups management team is a continual focus as the Group expands, together with resourcing strategies to enhance the deployment and retention of the seasonally employed workforce. Tailored safety and training programmes for staff at all levels ensure the Group can retain and develop a competent workforce to meet the needs of the business. The Group has policies and procedures to ensure regular communication is maintained between these stakeholders.
The board seeks to engage regularly with staff at all levels via a number of structured leadership forums. Investment in and the development of the Groups management team is a continual focus as the Group expands, together with resourcing strategies to enhance the deployment and retention of the seasonally employed workforce. Tailored safety and training programmes for staff at all levels ensure the Group can retain and develop a competent workforce to meet the needs of the business. The Group has policies and procedures to ensure regular communication is maintained between these stakeholders.
∙The Suppliers
The board endeavour to maintain constructive relationships with all service providers through continual dialogue and setting clear trading terms and expectations to ensure that the supply chain is managed effectively and all obligations are met.
The board endeavour to maintain constructive relationships with all service providers through continual dialogue and setting clear trading terms and expectations to ensure that the supply chain is managed effectively and all obligations are met.
The desirability of the Group is to maintain a reputation for high standards of business conduct. The Group is committed, in its day to day operations and dealings with all stakeholders to uphold the highest standard of business conduct and integrity. The directors are not responsible for setting a "business culture" in the traditional sense, but are committed to understanding the needs of each stakeholder and raise any concerns in this regard if necessary.
The directors are cognisant of their duty under section 172 in their deliberation as a board on all matters. Decisions made by the board take into account the interests of all the Group's key stakeholders and reflect the board's belief that the long term sustainable success of the Group is linked directly to its key stakeholders.
The directors are cognisant of their duty under section 172 in their deliberation as a board on all matters. Decisions made by the board take into account the interests of all the Group's key stakeholders and reflect the board's belief that the long term sustainable success of the Group is linked directly to its key stakeholders.
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RUMWOOD GREEN FARM LTD
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The strategy of the business is to:
∙Enhance the quality and extend the production and supply of English soft fruit and top fruit through investment and innovation in growing systems
∙Provide focused and superior service levels to all customers
∙Provide innovative and market leading solutions to the UK cold chain sector
∙Deliver a welfare focused deployment of seasonally employed staff
∙Investment in the Group's management team
The process of risk management is addressed through the Groups policies and procedures and is subject to continual review by management. The directors have identified the following principal risks and uncertainties affecting the Group:
∙Labour availability
The availability of seasonal labour remains a challenge. The sector continues to be exposed to labour supply constraints since Brexit and government policy regarding both the overseas and domestic labour market remains uncertain.
The availability of seasonal labour remains a challenge. The sector continues to be exposed to labour supply constraints since Brexit and government policy regarding both the overseas and domestic labour market remains uncertain.
∙Labour costs
Labour costs are the single largest business cost. Inflation due to both tightening labour market and domestic wage legislation is an ongoing concern.
Labour costs are the single largest business cost. Inflation due to both tightening labour market and domestic wage legislation is an ongoing concern.
∙Economic pressures
The ability of the Group to react to and absorb inflationary pressures, from both the wider geopolitical instability and the UK economy, is a continual challenge. The movements in underlying UK inflation and interests rates over recent years have been a barrier to the Group’s investment strategy.
The ability of the Group to react to and absorb inflationary pressures, from both the wider geopolitical instability and the UK economy, is a continual challenge. The movements in underlying UK inflation and interests rates over recent years have been a barrier to the Group’s investment strategy.
∙Political landscape
Proposed changes to tax legislation and policies to support growth and investment in the UK agriculture sector have created uncertainty and will continue to have an impact on future investment programs for the Group.
Proposed changes to tax legislation and policies to support growth and investment in the UK agriculture sector have created uncertainty and will continue to have an impact on future investment programs for the Group.
∙Credit risk, liquidity and cash flow
Price risks are managed through the commercial process.
Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. The Group's policies are aimed at minimising such a risk by conducting credit checks where appropriate and by other established credit control procedures.
Liquidity risk is the risk that an entity may encounter difficulties in meeting obligations associated with financial liabilities. The Group aims to mitigate liquidity risk by robust budgeting and costs control.
Cash flow risk lies in the exposure to variability in cash flows that are attributable to a particular risk associated with a recognised asset or liability. The Group manages risk through cash flow planning, and strict management of working capital.
Price risks are managed through the commercial process.
Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. The Group's policies are aimed at minimising such a risk by conducting credit checks where appropriate and by other established credit control procedures.
Liquidity risk is the risk that an entity may encounter difficulties in meeting obligations associated with financial liabilities. The Group aims to mitigate liquidity risk by robust budgeting and costs control.
Cash flow risk lies in the exposure to variability in cash flows that are attributable to a particular risk associated with a recognised asset or liability. The Group manages risk through cash flow planning, and strict management of working capital.
This report was approved by the board and signed on its behalf.
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RUMWOOD GREEN FARM LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The directors present their report and the financial statements for the year ended 31 March 2025.
The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation and minority interests, amounted to £10,357,955 (2024 - £5,319,329).
Ordinary dividends totalling £1,350 (2024: £2,600) were declared and paid in the year to the owners of the parent company.
The directors who served during the year were:
The directors continue to monitor and evaluate opportunities to invest to meet key business and market challenges and ultimately deliver sustainable profits.
During the year the Group completed its investment in extending the packing facilities based in Kent and expansion of the glasshouse production and ancillary services for the Norfolk operations.
During the year the Group completed its investment in extending the packing facilities based in Kent and expansion of the glasshouse production and ancillary services for the Norfolk operations.
We are committed to ensuring that employees are involved and treated with respect. We believe that employees are one of our key stakeholders and recognise the importance of regular communication and support to all employees across all business activities.
This is achieved through regular engagement with staff at all levels through structured leadership forums, periodic surveys and tailored development and training programs for select groups. Investment in and the development of the Groups management team is a continual focus as the Group expands together with strategic resource planning to control and enhance the efficient deployment of staff at all levels.
This is achieved through regular engagement with staff at all levels through structured leadership forums, periodic surveys and tailored development and training programs for select groups. Investment in and the development of the Groups management team is a continual focus as the Group expands together with strategic resource planning to control and enhance the efficient deployment of staff at all levels.
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RUMWOOD GREEN FARM LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Overview
The Scope 1 and 2 plus scope 3 emissions of the Streamlined Energy and Carbon Reporting (SECR) requirement, considered here, are from the combustion energy sources and electricity used across all farmed sites of the Group.
The Scope 1 and 2 plus scope 3 emissions of the Streamlined Energy and Carbon Reporting (SECR) requirement, considered here, are from the combustion energy sources and electricity used across all farmed sites of the Group.
Methodology
The methodology used to calculate our emissions is based on financial control approach in accordance with the UK Governments Environmental Reporting Guidelines (March 2019), with reference to recognised methodologies including the GHG Protocol – Corporate Accounting and Reporting Standard (Revised Edition) and the principles of ISO 14064-1:2018 where relevant.
Emissions were calculated using CEn-Calc, applying UK Government GHG Conversion Factors or, where unavailable, methodology-based proxy factors for the reporting period.
Gross emissions are calculated using location-based factors, such as the UK grid average. Net emissions use market-based factors, reflecting REGO or RGGO backed energy procurement where applicable. Carbon credits retired to offset residual emissions are not included in either Gross or Net tCO2e figures.
The methodology used to calculate our emissions is based on financial control approach in accordance with the UK Governments Environmental Reporting Guidelines (March 2019), with reference to recognised methodologies including the GHG Protocol – Corporate Accounting and Reporting Standard (Revised Edition) and the principles of ISO 14064-1:2018 where relevant.
Emissions were calculated using CEn-Calc, applying UK Government GHG Conversion Factors or, where unavailable, methodology-based proxy factors for the reporting period.
Gross emissions are calculated using location-based factors, such as the UK grid average. Net emissions use market-based factors, reflecting REGO or RGGO backed energy procurement where applicable. Carbon credits retired to offset residual emissions are not included in either Gross or Net tCO2e figures.
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RUMWOOD GREEN FARM LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Justifications for Undisclosed Information, Estimation & Comparability of Information
Emissions data for the reporting year is based on improved data availability and refined methodologies compared to prior years; as such, year-on-year comparisons should be interpreted with care.
Emissions data for the reporting year is based on improved data availability and refined methodologies compared to prior years; as such, year-on-year comparisons should be interpreted with care.
∙It should be noted that the FYE 24 SECR figures differ from those published in the financial accounts due to a re-evaluation of scope; more accurate figures have been used for comparison. However, for comparative purposes, equivalent usage of fertiliser and liquid CO2 has been reflected in the FYE 24 figures.
∙The first year that Fertiliser and liquid CO2 has been included is in 2024/25. In order to show a comparison the same conversions for the fertiliser and liquid CO2 have been used for 2023/24 however the quantitative values have not been validated.
Influencing Factors
The Groups energy usage is influenced by a combination of operational and environmental factors some of which are outside of the Group’s control, mainly:
The Groups energy usage is influenced by a combination of operational and environmental factors some of which are outside of the Group’s control, mainly:
∙local weather patterns, unseasonal and fluctuating periods of low temperature impact the level of energy use required for heated crop and worker accommodation;
∙the different mix of crop type between top fruit and soft fruit adds complexity and variable energy loads;
∙the expansion of operations including an increase in storage and processing infrastructure to service own crop production and customer needs;
∙additional land for farmed crop together with the installation of additional worker accommodation to meet operational needs.
Renewable Energy Sources
The operational site in Kent has a total of 2.25MW solar array installation covering approximately 10,600m2 generating a reduction in the Group's emissions by approximately 320 tCo2 a year.
The production facilities in Norfolk are supported by heat generation from 4MW of biomass boiler capacity.
Emissions & Energy Efficiency Actions Taken
Further investment into solar PV, installing a total of 319 solar PV panels covering 812m2 rated at 189.875kW.
Energy saving opportunities
The Groups energy strategy is to continue to evaluate investment opportunities in renewable energy generation and energy saving initiatives across all areas of business activity.
The operational site in Kent has a total of 2.25MW solar array installation covering approximately 10,600m2 generating a reduction in the Group's emissions by approximately 320 tCo2 a year.
The production facilities in Norfolk are supported by heat generation from 4MW of biomass boiler capacity.
Emissions & Energy Efficiency Actions Taken
Further investment into solar PV, installing a total of 319 solar PV panels covering 812m2 rated at 189.875kW.
Energy saving opportunities
The Groups energy strategy is to continue to evaluate investment opportunities in renewable energy generation and energy saving initiatives across all areas of business activity.
form of a Directors' and Officers' insurance policy, remain in force at the reporting date.
The auditor, MHA, previously traded through the legal entity MacIntyre Hudson LLP. In response to regulatory changes, MacIntyre Hudson LLP ceased to hold an audit registration with the engagement transitioning to MHA Audit Services LLP.
MHA, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
MHA, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
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RUMWOOD GREEN FARM LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
This report was approved by the board and signed on its behalf.
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RUMWOOD GREEN FARM LTD
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF RUMWOOD GREEN FARM LTD
We have audited the financial statements of Rumwood Green Farm Ltd (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 March 2025, which comprise the Consolidated statement of comprehensive income, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
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RUMWOOD GREEN FARM LTD
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF RUMWOOD GREEN FARM LTD (CONTINUED)
In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙Enquiry of management around actual and potential litigation and claims;
∙Enquiry of entity staff to identify any instances of non-compliance with laws and regulations;
∙Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias;
∙Reviewing minutes of meetings of those charged with governance; and
∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.
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RUMWOOD GREEN FARM LTD
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF RUMWOOD GREEN FARM LTD (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditor
United Kingdom
Date:
MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542).
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RUMWOOD GREEN FARM LTD
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
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RUMWOOD GREEN FARM LTD
REGISTERED NUMBER: 07768823
CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 17 to 37 form part of these financial statements.
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RUMWOOD GREEN FARM LTD
REGISTERED NUMBER: 07768823
COMPANY BALANCE SHEET
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 17 to 37 form part of these financial statements.
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RUMWOOD GREEN FARM LTD
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
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RUMWOOD GREEN FARM LTD
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
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RUMWOOD GREEN FARM LTD
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
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RUMWOOD GREEN FARM LTD
CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
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RUMWOOD GREEN FARM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Rumwood Green Farm Limited is a private company limited by shares incorporated in England & Wales in the United Kingdom. The address of the registered office is Rumwood Green Farm, Sutton Road, Langley, Maidstone, ME17 3ND. The nature of the company's operation and principal activities are as stated in the Strategic Report.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 31 March 2016.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 31 March 2016.
The following subsidiary companies have claimed exemption from audit under section 479A of the Companies Act 2006:
∙Berries Direct Farming Limited
∙Orchard Cooling Limited
The financial statements have been prepared on a going concern basis. The Directors have considered relevant information, including the annual budget, forecast future cashflows and the impact of subsequent events in making their assessment.
Based on these assessments and having regard to the resources available to the entity, the Directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the accounts.
Based on these assessments and having regard to the resources available to the entity, the Directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the accounts.
Functional and presentation currency
Transactions and balances
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RUMWOOD GREEN FARM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Grants of a revenue nature are recognised in the Consolidated statement of comprehensive income in the same period as the related expenditure.
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RUMWOOD GREEN FARM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
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RUMWOOD GREEN FARM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Goodwill
Other intangible assets
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as per the methods below.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Within freehold property is land of £7,774,321 (2024: £4,969,555) which is not depreciated.
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RUMWOOD GREEN FARM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Group's Balance sheet when the Group becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Basic financial liabilities
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 Group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
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RUMWOOD GREEN FARM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
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RUMWOOD GREEN FARM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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RUMWOOD GREEN FARM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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RUMWOOD GREEN FARM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
There were no factors that may affect future tax charges.
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RUMWOOD GREEN FARM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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RUMWOOD GREEN FARM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
14.Intangible assets (continued)
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Page 27
RUMWOOD GREEN FARM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Page 28
RUMWOOD GREEN FARM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
15.Tangible fixed assets (continued)
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Page 29
RUMWOOD GREEN FARM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
15.Tangible fixed assets (continued)
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Page 30
RUMWOOD GREEN FARM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Page 31
RUMWOOD GREEN FARM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 32
RUMWOOD GREEN FARM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 33
RUMWOOD GREEN FARM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Page 34
RUMWOOD GREEN FARM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
25.Deferred taxation (continued)
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Profit and loss account
Page 35
RUMWOOD GREEN FARM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
A reclassification adjustment has been made to recognise fruit trees as fixed assets instead of stock. This adjustment has been reflected in the comparatives of the year ended 31 March 2025 financial statements.
As a result of the adjustment, stock in the comparatives has decreased by £1,295,464; tangible fixed assets has increased by £1,222,381; with the remaining depreciation and stock movement of £73,083 being recognised in the profit and loss of 2024.
As a result of the adjustment, stock in the comparatives has decreased by £1,295,464; tangible fixed assets has increased by £1,222,381; with the remaining depreciation and stock movement of £73,083 being recognised in the profit and loss of 2024.
The Group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represent contributions payable by the Group to the fund amounted to £335,349 (2024: £317,735 ). Contributions totalling £46,515 (2024: £32,964 ) were payable to the fund at the balance sheet date.
31.Other commitments and guarantees
Two companies within the Group have provided HSBC plc with an unlimited multilateral guarantee.
At the balance sheet date, a guarantee to Lombard Finance on behalf of Mockbeggar Ltd has been fully settled (2024: balance of £3,219,280).
At the balance sheet date, a guarantee to Lombard Finance on behalf of Mockbeggar Ltd has been fully settled (2024: balance of £3,219,280).
During the year, the Group entered in to the following transactions with directors:
Directors of the Parent Company received dividends totalling £1,350 (2024: £2,600). At the balance sheet date, £Nil was owed to directors (2024: £Nil).
Mr R Burbridge, a director of a subsidiary, received advances of £12,000 (2024: £Nil). At 31 March 2025, £4,362 (2024: £7,638 due from Mr R Burbridge) was due to Mr R Burbridge.
Mr S Macoy, a director of a subsidiary, received advances of £12,000 (2024: £Nil). At 31 March 2025, £5,062 (2024: £6,938 due from Mr S Macoy) was due to Mr S Macoy.
Mr D Reynolds, a director of a subsidiary, received advances of £12,000 (2024: £Nil). At 31 March 2025, £4,566 (2024: £7,434 due from Mr D Reynolds) was due to Mr D Reynolds.
During the year, interest free loans of £750,000 each has been extended by the Company to two of the directors. In the year, £Nil was repaid by the directors. At the balance sheet date, £1,542,985 (2024: £Nil) was due from the directors.
Directors of the Parent Company received dividends totalling £1,350 (2024: £2,600). At the balance sheet date, £Nil was owed to directors (2024: £Nil).
Mr R Burbridge, a director of a subsidiary, received advances of £12,000 (2024: £Nil). At 31 March 2025, £4,362 (2024: £7,638 due from Mr R Burbridge) was due to Mr R Burbridge.
Mr S Macoy, a director of a subsidiary, received advances of £12,000 (2024: £Nil). At 31 March 2025, £5,062 (2024: £6,938 due from Mr S Macoy) was due to Mr S Macoy.
Mr D Reynolds, a director of a subsidiary, received advances of £12,000 (2024: £Nil). At 31 March 2025, £4,566 (2024: £7,434 due from Mr D Reynolds) was due to Mr D Reynolds.
During the year, interest free loans of £750,000 each has been extended by the Company to two of the directors. In the year, £Nil was repaid by the directors. At the balance sheet date, £1,542,985 (2024: £Nil) was due from the directors.
Page 36
RUMWOOD GREEN FARM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The company is ultimately controlled by the directors who own 100% of the shares.
Page 37