0
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No description of principal activity
2022-07-01
Sage Accounts Production Advanced 2023 - FRS102_2023
40,565
40,565
845
845
39,720
xbrli:pure
xbrli:shares
iso4217:GBP
10675386
2022-07-01
2023-06-30
10675386
2023-06-30
10675386
2022-06-30
10675386
2021-07-01
2022-06-30
10675386
2022-06-30
10675386
2021-06-30
10675386
core:MotorVehicles
2022-07-01
2023-06-30
10675386
bus:LeadAgentIfApplicable
2022-07-01
2023-06-30
10675386
bus:Director1
2022-07-01
2023-06-30
10675386
core:MotorVehicles
2023-06-30
10675386
core:WithinOneYear
2023-06-30
10675386
core:WithinOneYear
2022-06-30
10675386
core:ShareCapital
2023-06-30
10675386
core:ShareCapital
2022-06-30
10675386
core:RetainedEarningsAccumulatedLosses
2023-06-30
10675386
core:RetainedEarningsAccumulatedLosses
2022-06-30
10675386
bus:SmallEntities
2022-07-01
2023-06-30
10675386
bus:AuditExemptWithAccountantsReport
2022-07-01
2023-06-30
10675386
bus:SmallCompaniesRegimeForAccounts
2022-07-01
2023-06-30
10675386
bus:PrivateLimitedCompanyLtd
2022-07-01
2023-06-30
10675386
bus:FullAccounts
2022-07-01
2023-06-30
COMPANY REGISTRATION NUMBER:
10675386
Filleted Unaudited Financial Statements |
|
Year ended 30 June 2023
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements |
1 |
|
|
Statement of financial position |
2 to 3 |
|
|
Notes to the financial statements |
4 to 6 |
|
|
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
Agrinomics Limited |
|
Year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Agrinomics Limited for the year ended 30 June 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Agrinomics Limited. Our work has been undertaken solely to prepare for your approval the financial statements of Agrinomics Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Agrinomics Limited and its director for our work or for this report.
It is your duty to ensure that Agrinomics Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Agrinomics Limited. You consider that Agrinomics Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Agrinomics Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
HEBBLETHWAITES
Chartered Accountants
2 Westbrook Court
Sharrow Vale Road
Sheffield
S11 8YZ
4 March 2024
Statement of Financial Position |
|
30 June 2023
Fixed assets
Tangible assets |
4 |
39,720 |
– |
|
|
|
|
Current assets
Debtors |
5 |
39,640 |
31,200 |
Cash at bank and in hand |
954 |
3,370 |
|
-------- |
-------- |
|
40,594 |
34,570 |
|
|
|
|
Creditors: amounts falling due within one year |
6 |
18,566 |
1,580 |
|
-------- |
-------- |
Net current assets |
22,028 |
32,990 |
|
-------- |
-------- |
Total assets less current liabilities |
61,748 |
32,990 |
|
|
|
|
Provisions |
397 |
– |
|
-------- |
-------- |
Net assets |
61,351 |
32,990 |
|
-------- |
-------- |
|
|
|
Capital and reserves
Called up share capital |
100 |
100 |
Profit and loss account |
61,251 |
32,890 |
|
-------- |
-------- |
Shareholders funds |
61,351 |
32,990 |
|
-------- |
-------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 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 financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued) |
|
30 June 2023
These financial statements were approved by the
board of directors
and authorised for issue on
1 March 2024
, and are signed on behalf of the board by:
Company registration number:
10675386
Notes to the Financial Statements |
|
Year ended 30 June 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Deer Park Annex, Long Causeway, Thirsk, North Yorkshire, YO7 2AS.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
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. In the opinion of management, there are no areas of judgement or key sources of estimation uncertainty that have a significant effect on the financial statements, other than those highlighted below.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Motor vehicles |
- |
25% reducing balance |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Tangible assets
|
Motor vehicles |
|
£ |
Cost |
|
At 1 July 2022 |
– |
Additions |
40,565 |
|
-------- |
At 30 June 2023 |
40,565 |
|
-------- |
Depreciation |
|
At 1 July 2022 |
– |
Charge for the year |
845 |
|
-------- |
At 30 June 2023 |
845 |
|
-------- |
Carrying amount |
|
At 30 June 2023 |
39,720 |
|
-------- |
At 30 June 2022 |
– |
|
-------- |
|
|
5.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
24,800 |
30,000 |
Other debtors |
14,840 |
1,200 |
|
-------- |
-------- |
|
39,640 |
31,200 |
|
-------- |
-------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Trade creditors |
742 |
– |
Corporation tax |
4,824 |
– |
Other creditors |
13,000 |
1,580 |
|
-------- |
------- |
|
18,566 |
1,580 |
|
-------- |
------- |
|
|
|
7.
Director's advances, credits and guarantees
At the start of the year, the company was indebted to the director to the sum of £900. As a result of credits in the year of £11,250, at the year end, the company was indebted to the director in the sum of £12,150. There is no interest or formal repayment terms on this loan.
8.
Related party transactions
During the year, the company provided services amounting to £29,700 (2022: Nil) to Agriculture Limited, a company in which
Mr T Atkinson
is a director. A balance of £30,900, (2022 £30,000) is included within debtors at the balance sheet date.