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Registration number: 08941447

A1 Straw Supplies Limited

Unaudited Financial Statements

for the Year Ended 31 March 2023

 

A1 Straw Supplies Limited

Contents

Company Information

1

Director's Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

A1 Straw Supplies Limited

Company Information

Director

Mr A Worboys

Registered office

Unit 1 The Cam Centre
Wilbury Way
Hitchin
Herts
SG4 0TW

 

A1 Straw Supplies Limited

Director's Report for the Year Ended 31 March 2023

The director presents his report and the financial statements for the year ended 31 March 2023.

Director of the company

The director who held office during the year was as follows:

Mr A Worboys

Principal activity

The principal activity of the company is that of agricultural contracting.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 22 December 2023 and signed on its behalf by:

.........................................
Mr A Worboys
Director

 

A1 Straw Supplies Limited

(Registration number: 08941447)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

171,499

546,031

Cash at bank and in hand

 

31,252

40

 

202,751

546,071

Creditors: Amounts falling due within one year

5

(1,096)

(255,551)

Net assets

 

201,655

290,520

Capital and reserves

 

Called up share capital

100

100

Retained earnings

201,555

290,420

Shareholders' funds

 

201,655

290,520

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 December 2023
 

.........................................
Mr A Worboys
Director

 

A1 Straw Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 1 The Cam Centre
Wilbury Way
Hitchin
Herts
SG4 0TW

The principal place of business is:
Manor Farm
Lower Caldecote
Biggleswade
Bedfordshire
SG18 9BB

These financial statements were authorised for issue by the director on 22 December 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

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

Going concern

The financial statements have been prepared on a going concern basis.

 

A1 Straw Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

A1 Straw Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Debtors

Current

2023
£

2022
£

Trade debtors

(1,500)

-

Other debtors

172,999

546,031

 

171,499

546,031

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

-

44,748

Trade creditors

 

96

96

Taxation and social security

 

-

16,072

Accruals and deferred income

 

1,000

194,635

 

1,096

255,551

 

A1 Straw Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Share Capital of £1 each

100

100

100

100

         

7

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £300.00 (2022 - £330.00) per ordinary share

 

30,000

 

33,000

         

8

Related party transactions

At the balance sheet date, A1 Straws Ltd were owed £0 (2021: £218,388) by A R Worboys Ltd, a company of which Mr A Worboys is the sole director and shareholder.

At the balance sheet date the company was owed £100 by (2022:£100 by) Mr A Worboys, the sole director and shareholder. The Loan was paid within 9 months of the year end and there are no terms of interest on this loan.

9

Ultimate controlling party

The ultimate controlling party is Mr Andrew Worboys, by virtue of his shareholding.

 

A1 Straw Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

10

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

-

44,748