Annual Report & Accounts - Countrywide Farmers

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.
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