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REGISTERED NUMBER: 01196754 (England and Wales)







Abridged Financial Statements for the Year Ended 31st March 2024

for

Agar Limited

Agar Limited (Registered number: 01196754)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


Agar Limited

Company Information
for the Year Ended 31st March 2024







DIRECTORS: A M Garfield
R D Harrop





REGISTERED OFFICE: Unit D 2a Blackpole Trading Estate East
Blackpole
Worcester
Worcestershire
WR3 8SG





REGISTERED NUMBER: 01196754 (England and Wales)





ACCOUNTANTS: The Richards Sandy Partnership
Thorneloe House
25 Barbourne Road
Worcester
Worcestershire
WR1 1RU

Agar Limited (Registered number: 01196754)

Abridged Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,356 33,364

CURRENT ASSETS
Stocks 109,847 121,425
Debtors 152,594 157,441
Cash at bank 30,720 50,592
293,161 329,458
CREDITORS
Amounts falling due within one year 161,003 174,200
NET CURRENT ASSETS 132,158 155,258
TOTAL ASSETS LESS CURRENT
LIABILITIES

154,514

188,622

PROVISIONS FOR LIABILITIES 6 5,500 6,300
NET ASSETS 149,014 182,322

CAPITAL AND RESERVES
Called up share capital 48,242 48,242
Retained earnings 100,772 134,080
SHAREHOLDERS' FUNDS 149,014 182,322

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 23rd April 2024 and were signed on its behalf by:





A M Garfield - Director


Agar Limited (Registered number: 01196754)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Agar 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost, 20% on cost and 10% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 10 (2023 - 9 ) .

Agar Limited (Registered number: 01196754)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2023
and 31st March 2024 351,758
DEPRECIATION
At 1st April 2023 318,394
Charge for year 11,008
At 31st March 2024 329,402
NET BOOK VALUE
At 31st March 2024 22,356
At 31st March 2023 33,364

5. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts - 1,489

The bank overdraft is secured by a debenture.

6. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 5,500 6,300

Deferred
tax
£   
Balance at 1st April 2023 6,300
Provided during year (800 )
Balance at 31st March 2024 5,500

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in Creditors is a loan from the director, Mr A M Garfield. It is interest free.