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REGISTERED NUMBER: 07209023 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

R.A.B. AGRI-CONTRACTING LIMITED

R.A.B. AGRI-CONTRACTING LIMITED (REGISTERED NUMBER: 07209023)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R.A.B. AGRI-CONTRACTING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Richard Anthony Boffey





SECRETARY: Richard Anthony Boffey





REGISTERED OFFICE: Heathcote Farm
Mill Lane
Wolvey Heath
Leicestershire
LE10 3HR





REGISTERED NUMBER: 07209023 (England and Wales)





ACCOUNTANTS: Armstrongs
Chartered Accountants
25 Station Road
Hinckley
Leicestershire
LE10 1AP

R.A.B. AGRI-CONTRACTING LIMITED (REGISTERED NUMBER: 07209023)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,000 1,000
Tangible assets 5 1,016,681 1,018,177
1,017,681 1,019,177

CURRENT ASSETS
Stocks 19,726 18,760
Debtors 6 165,453 98,252
Cash at bank 231,426 281,576
416,605 398,588
CREDITORS
Amounts falling due within one year 7 185,698 213,844
NET CURRENT ASSETS 230,907 184,744
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,248,588

1,203,921

CREDITORS
Amounts falling due after more than one
year

8

(16,435

)

(18,750

)

PROVISIONS FOR LIABILITIES (107,361 ) (107,361 )
NET ASSETS 1,124,792 1,077,810

CAPITAL AND RESERVES
Called up share capital 76 76
Capital redemption reserve 24 24
Retained earnings 1,124,692 1,077,710
SHAREHOLDERS' FUNDS 1,124,792 1,077,810

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

R.A.B. AGRI-CONTRACTING LIMITED (REGISTERED NUMBER: 07209023)

BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 February 2024 and were signed by:





Richard Anthony Boffey - Director


R.A.B. AGRI-CONTRACTING LIMITED (REGISTERED NUMBER: 07209023)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

R.A.B. Agri-Contracting Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the 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.

Turnover
Turnover represents the net invoiced sale of goods and services, net of value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, was being amortised evenly over its estimated useful life, but an impairment review was undertaken during 2016.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Yard, building and equipment shed - 10% on reducing balance
Office equipment - 25% on reducing balance
Tools and equipment - 15% on reducing balance
Implements and machinery - 20% on reducing balance
Tractors and diggers - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 assessments in periods different from those in which they are 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.

R.A.B. AGRI-CONTRACTING LIMITED (REGISTERED NUMBER: 07209023)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 30,000
AMORTISATION
At 1 April 2022
and 31 March 2023 29,000
NET BOOK VALUE
At 31 March 2023 1,000
At 31 March 2022 1,000

5. TANGIBLE FIXED ASSETS
Yard,
building
and
equipment Office Tools and
shed equipment equipment
£    £    £   
COST
At 1 April 2022 205,122 200 4,680
Additions - - -
Disposals - - -
At 31 March 2023 205,122 200 4,680
DEPRECIATION
At 1 April 2022 3,587 198 3,713
Charge for year 271 1 144
Eliminated on disposal - - -
At 31 March 2023 3,858 199 3,857
NET BOOK VALUE
At 31 March 2023 201,264 1 823
At 31 March 2022 201,535 2 967

R.A.B. AGRI-CONTRACTING LIMITED (REGISTERED NUMBER: 07209023)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS - continued

Implements Tractors
and and Motor
machinery diggers vehicles Totals
£    £    £    £   
COST
At 1 April 2022 1,113,653 1,066,288 56,905 2,446,848
Additions 225,940 - - 225,940
Disposals (32,352 ) (51,950 ) - (84,302 )
At 31 March 2023 1,307,241 1,014,338 56,905 2,588,486
DEPRECIATION
At 1 April 2022 664,952 708,559 47,662 1,428,671
Charge for year 134,108 68,140 1,849 204,513
Eliminated on disposal (26,451 ) (34,928 ) - (61,379 )
At 31 March 2023 772,609 741,771 49,511 1,571,805
NET BOOK VALUE
At 31 March 2023 534,632 272,567 7,394 1,016,681
At 31 March 2022 448,701 357,729 9,243 1,018,177

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 164,903 97,748
Other debtors 550 504
165,453 98,252

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 26,875 9,474
Trade creditors 111,013 116,350
Corporation tax 3,456 4,871
Social security and other taxes - 753
Other creditors 43,364 42,284
Directors' loan accounts 990 40,112
185,698 213,844

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 16,435 18,750

9. ULTIMATE CONTROLLING PARTY

The controlling party is Richard Anthony Boffey.

R.A.B. AGRI-CONTRACTING LIMITED (REGISTERED NUMBER: 07209023)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

10. PURCHASE OF OWN SHARES

On 20 April 2018 the company bought back 24% of its issued share capital at a total cost of £192,960 from a former director and minority shareholder.