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 2026

2.5. Leasing and Hire Purchase Contracts

Assets acquired under hire purchase contracts are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

2.6. 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.

2.7. 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.

2.8. 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.

2.9. 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 (2025: 3)

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R.P. Collier Farms Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

4. Intangible Assets

	Other
	£
Cost
As at 1 April 2025	24,240
Disposals	(24,240 )

As at 31 March 2026	-

Amortisation
As at 1 April 2025	24,240
Disposals	(24,240 )

As at 31 March 2026	-

Net Book Value
As at 31 March 2026	-

As at 1 April 2025	-

5. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Tractors	Total
	£	£	£	£	£
Cost
As at 1 April 2025	730,016	197,325	22,991	213,888	1,164,220
Additions	-	1,024	-	132,500	133,524

As at 31 March 2026	730,016	198,349	22,991	346,388	1,297,744

Depreciation
As at 1 April 2025	-	121,634	13,292	175,173	310,099
Provided during the period	-	11,525	2,425	42,808	56,758

As at 31 March 2026	-	133,159	15,717	217,981	366,857

Net Book Value
As at 31 March 2026	730,016	65,190	7,274	128,407	930,887

As at 1 April 2025	730,016	75,691	9,699	38,715	854,121

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2026	2025
	£	£
Tractors	99,375	-

6. Stocks

	2026	2025
	£	£
Stock - Produce	69,206	78,698

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R.P. Collier Farms Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

7. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	4,981	11,090
Prepayments and accrued income	5,884	5,537
Other debtors	671	-
Tax	12,561	-
VAT	27,984	4,956
Other taxes and social security	80	-
Directors' loan accounts	20,790	24,811

	72,951	46,394

8. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	118,797	-
Trade creditors	11,325	29,723
Bank loans and overdrafts	37,443	48,466
Other loans	50,000	50,000
Corporation tax	-	14,459
Accruals and deferred income	3,335	3,084

	220,900	145,732

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

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	40,303	-
Bank loans	352,086	304,626

	392,389	304,626

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

	2026		2025
	£		£
Bank loans	199,756		147,741

10. Secured Creditors

Of the creditors the following amounts are secured.

	2026		2025
	£		£
Bank loans and overdrafts	389,530		353,092

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R.P. Collier Farms Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

11. Loans

An analysis of the maturity of loans is given below:

	2026	2025
	£	£
Amounts falling due within one year or on demand:
Bank loans	37,443	48,466
Other loans	50,000	50,000

	87,443	98,466

	2026	2025
	£	£
Amounts falling due between one and five years:
Bank loans	152,330	156,885

	2026	2025
	£	£
Amounts falling due after more than five years:
Bank loans	199,756	147,741

12. Obligations Under Finance Leases and Hire Purchase

	2026	2025
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	118,797	-
Later than one year and not later than five years	40,303	-

	159,100	-

	159,100	-

13. Share Capital

	2026	2025
Allotted, called up and fully paid	£	£
77 Ordinary A shares of £ 1.00 each	77	77
22 Ordinary B shares of £ 1.00 each	22	22
1 Ordinary C shares of £ 1.00 each	1	1

	100	100

14. 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 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2026
	£	£	£	£	£
Mrs Margaret Collier	4,063	4,058	4,063	-	4,058
Mr Thomas Collier	20,748	16,732	20,748	-	16,732

Beneficial loan interest has been charged at the HMRC advisory rate of 3.75% on the directors loan for T P & S Collier. All directors loans have been repaid in full since the balance sheet date.

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		930,887		854,121

			930,887		854,121
CURRENT ASSETS
Stocks	6	69,206		78,698
Debtors	7	72,951		46,394
Cash at bank and in hand		94,724		19,633

		236,881		144,725
Creditors: Amounts Falling Due Within One Year	8	(220,900 )		(145,732 )

NET CURRENT ASSETS (LIABILITIES)			15,981		(1,007 )

TOTAL ASSETS LESS CURRENT LIABILITIES			946,868		853,114

Creditors: Amounts Falling Due After More Than One Year	9		(392,389 )		(304,626 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(37,571 )		(25,363 )

NET ASSETS			516,908		523,125

CAPITAL AND RESERVES
Called up share capital	13		100		100
Profit and Loss Account			516,808		523,025

SHAREHOLDERS' FUNDS			516,908		523,125