Annual Report & Accounts - Countrywide Farmers

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Registered Office and Advisers Registered Number 3776711 Registered Office Independent Auditors Bankers Solicitors Defford Earls Croome Worcester WR8 9DF PricewaterhouseCoopers LLP 31 Great George Street Bristol BS1 5QD Barclays Bank PLC Park House Newbrick Road Stoke Gifford Bristol BS34 8TN Bond Pearce LLP 3 Temple Quay Temple Back East Bristol BS1 6DZ Page 9
Directors’ Report The Directors present their report and the audited Financial Statements for the year ended 31 May 2008. Countrywide Farmers plc is not listed on a recognised investment exchange, however, shares may be traded on ShareMark. For further information, please contact: ShareMark Ltd, PO Box 2000, Bucks, HP21 8ZB. Telephone 01296 414245. www.sharemark.co.uk Principal Activities The principal activities of the Group during the year are the supply of animal feeds, seeds, fertilisers and agrochemicals, the marketing of fuel, natural gas, liquid petroleum gas, utilities and the sale of a range of farm sundries and retail products to the rural community. Results and Dividends The Profit and Loss Account for the year is set out on page 16. The Directors recommend that no dividend be paid (2007: £Nil). Creditor Payment Policy Whilst no formal code or standard of payment practice is followed, the Group policy is to settle terms of payment with creditors when agreeing the terms of each transaction and to seek to abide by the agreed terms of payment. There are no creditors subject to special arrangements outside of suppliers’ terms and conditions. The Group has complied with this policy during the year. During 2008 the average payment period was 44 days (2007:46 days). Financial Instruments As part of its overall financing strategy, the Group has entered into an interest swap transaction to fix the interest rate on part of the Group’s borrowings. This transaction is described in note 14 to the financial statements. As at 31 May 2008, the market value of this swap was £3,346 (loss) (2007: £53,015 profit) Business Review and Future Developments The review of operations of the Group is covered in the attached Managing Director’s Review. Directors and Directors’ Interests The Directors of the Company during the year to 31 May 2008 and their beneficial interests in the share capital of the Company are listed below: Shares Shares 2008 2007 N.P. Hall (Chairman) 136,670 98,037 T.D. Holderness-Roddam (Deputy Chairman) 204,318 145,843 J.H. Hardman (Managing Director) 9,735 9,735 L.J. Collins (Finance Director) 7,200 7,200 Sir Ben Gill 12,180 12,180 N.K.Leece 32,238 26,958 J.W. Pugh (resigned 29.11.07) N/A 120,313 R.C. Beldam (resigned 27.9.07) N/A 16,107 S. Crebo was appointed as a director on 1 July 2008. Page 10
Page 1 and 2: Annual Report & Accounts Year Ended
Page 3 and 4: Contents Page Chairman’s Report 1
Page 5 and 6: Chairman’s Report 2008 (Continued
Page 7 and 8: Managing Director’s Review (Conti
Page 9 and 10: Finance Review Balance sheet and Ca
Page 11: Directors’ Profiles NIGEL HALL (C
Page 15 and 16: Corporate Governance Statement Coun
Page 17 and 18: Statement of Directors’ Responsib
Page 19 and 20: Consolidated Profit and Loss Accoun
Page 21 and 22: Consolidated Balance Sheet At 31 Ma
Page 23 and 24: Consolidated Cash Flow Statement Fo
Page 25 and 26: Notes to the Financial Statements F
Page 27 and 28: Notes to the Financial Statements (
Page 47 and 48: Countrywide Sites Wrexham Wardle Wh

Annual Report & Accounts - Countrywide Farmers

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