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REGISTERED NUMBER: 06586057 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST MAY 2023

FOR

AGRI MANAGEMENT SOLUTIONS LIMITED

AGRI MANAGEMENT SOLUTIONS LIMITED (REGISTERED NUMBER: 06586057)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


AGRI MANAGEMENT SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2023







Directors: C P Hawkins
J S Hawkins
E A Whittal Williams





Secretary: J S Hawkins





Registered office: Thingehill Court
Withington
Hereford
Herefordshire
HR1 3QG





Registered number: 06586057 (England and Wales)

AGRI MANAGEMENT SOLUTIONS LIMITED (REGISTERED NUMBER: 06586057)

BALANCE SHEET
31ST MAY 2023

31.5.23 31.5.22
Notes £ £ £ £
Fixed assets
Intangible assets 4 - -
Tangible assets 5 470,132 405,157
470,132 405,157

Current assets
Stocks 6 719,163 707,217
Debtors 7 1,581,929 1,382,626
Cash at bank 223,313 258,970
2,524,405 2,348,813
Creditors
Amounts falling due within one year 8 786,483 719,675
Net current assets 1,737,922 1,629,138
Total assets less current liabilities 2,208,054 2,034,295

Creditors
Amounts falling due after more than one
year

9

(15,990

)

(42,239

)

Provisions for liabilities 11 (90,200 ) (98,300 )
Net assets 2,101,864 1,893,756

AGRI MANAGEMENT SOLUTIONS LIMITED (REGISTERED NUMBER: 06586057)

BALANCE SHEET - continued
31ST MAY 2023

31.5.23 31.5.22
Notes £ £ £ £
Capital and reserves
Called up share capital 12 2 2
Share premium 99,000 99,000
Capital redemption reserve 1 1
Retained earnings 2,002,861 1,794,753
Shareholders' funds 2,101,864 1,893,756

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2023 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.

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 19th February 2024 and were signed on its behalf by:





C P Hawkins - Director


AGRI MANAGEMENT SOLUTIONS LIMITED (REGISTERED NUMBER: 06586057)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023


1. Statutory information

Agri Management Solutions 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.

Goodwill
Goodwill is being amortised evenly over its estimated useful life of 5 years.

Tangible fixed assets
Tangible fixed assets are stated in the Balance Sheet at cost less depreciation.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant & machinery20% - 50% SL
Motor vehicles25% - 50% SL

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

AGRI MANAGEMENT SOLUTIONS LIMITED (REGISTERED NUMBER: 06586057)

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


2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducing all of its liabilities.

AGRI MANAGEMENT SOLUTIONS LIMITED (REGISTERED NUMBER: 06586057)

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


2. Accounting policies - continued
Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


AGRI MANAGEMENT SOLUTIONS LIMITED (REGISTERED NUMBER: 06586057)

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


2. Accounting policies - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Work in progress
Work in progress is included in the accounts at the cost value of raw materials, labour and overheads incurred on partially finished goods. These costs are included within debtors on the balance sheet.

3. Employees (including officers)

The average number of employees during the year was 18 (2022 - 17 ) .

4. Intangible fixed assets
Goodwill
£
Cost
At 1st June 2022
and 31st May 2023 500
Amortisation
At 1st June 2022
and 31st May 2023 500
Net book value
At 31st May 2023 -
At 31st May 2022 -

AGRI MANAGEMENT SOLUTIONS LIMITED (REGISTERED NUMBER: 06586057)

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


5. Tangible fixed assets
Plant & Motor
machinery vehicles Totals
£ £ £
Cost
At 1st June 2022 515,934 194,085 710,019
Additions 115,759 138,008 253,767
Disposals (89,755 ) (22,675 ) (112,430 )
At 31st May 2023 541,938 309,418 851,356
Depreciation
At 1st June 2022 241,315 63,547 304,862
Charge for year 95,009 52,378 147,387
Eliminated on disposal (59,191 ) (11,834 ) (71,025 )
At 31st May 2023 277,133 104,091 381,224
Net book value
At 31st May 2023 264,805 205,327 470,132
At 31st May 2022 274,619 130,538 405,157

The net book value of tangible fixed assets includes £70,342 (2022 - £151,864) in respect of assets held under hire purchase contracts.

6. Stocks
31.5.23 31.5.22
£ £
Stocks 719,163 707,217

7. Debtors: amounts falling due within one year
31.5.23 31.5.22
£ £
Trade debtors 536,800 696,314
Amounts recoverable on contract 908,022 590,364
Other debtors 15,317 3,872
Amounts due by related parties 5,398 1,496
VAT 48,432 6,280
Corporation tax refundable 67,960 84,300
1,581,929 1,382,626

AGRI MANAGEMENT SOLUTIONS LIMITED (REGISTERED NUMBER: 06586057)

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


8. Creditors: amounts falling due within one year
31.5.23 31.5.22
£ £
Bank loans & overdrafts - 36,380
Hire purchase contracts (see note 10) 26,249 40,025
Trade creditors 704,405 530,780
Corporation tax - 68,000
Social security & other taxes 11,932 11,892
Other creditors 29,064 23,421
Amounts due to related parties 10,173 9,177
Directors' loan accounts 4,660 -
786,483 719,675

9. Creditors: amounts falling due after more than one year
31.5.23 31.5.22
£ £
Hire purchase contracts (see note 10) 15,990 42,239

10. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
31.5.23 31.5.22
£ £
Net obligations repayable:
Within one year 26,249 40,025
Between one and five years 15,990 42,239
42,239 82,264

Non-cancellable
operating leases
31.5.23 31.5.22
£ £
Within one year - 1,823

11. Provisions for liabilities
31.5.23 31.5.22
£ £
Deferred tax 90,200 98,300

AGRI MANAGEMENT SOLUTIONS LIMITED (REGISTERED NUMBER: 06586057)

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


11. Provisions for liabilities - continued

Deferred tax
£
Balance at 1st June 2022 98,300
Utilised during year (8,100 )
Balance at 31st May 2023 90,200

Deferred tax has been calculated at 25%.

12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £ £
233 Ordinary shares £0.01 2 2

13. Contingent liabilities

There were no contingent liabilities at 31st May 2023.

14. Related party disclosures

The directors
During the year, the directors used a current account with the company to record amounts due to them and amounts drawn by them. The balance outstanding at the year end was £4,660, owed by the company (2022: £nil).

Related parties

The following transactions with related parties, on normal commercial terms, took place during the year:



Sales

Purchases
Debtor
balance
Creditor
balance
£   £   £   £   
Significant influence entities46,07227,1495,39810,173