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REGISTERED NUMBER: 06905177 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 May 2023

for

RS Agri Ltd

RS Agri Ltd (Registered number: 06905177)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RS Agri Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTORS: R A Lloyd
Mrs S Badham
M R Badham
Mrs G A Lloyd
R W J Lloyd
S L J Lloyd





REGISTERED OFFICE: Balstone Farm
Ibworth
Basingstoke
Hampshire
RG26 5TJ





REGISTERED NUMBER: 06905177 (England and Wales)





ACCOUNTANTS: Behegan Lynes
Accountancy & Taxation Advisers
Bank Chambers
Brook Street
Bishops Waltham
Hampshire
SO32 1AX

RS Agri Ltd (Registered number: 06905177)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 515,957 438,420
515,957 438,420

CURRENT ASSETS
Stocks 926,413 841,532
Debtors 6 301,239 152,510
Cash at bank 272,055 162,940
1,499,707 1,156,982
CREDITORS
Amounts falling due within one year 7 658,886 506,514
NET CURRENT ASSETS 840,821 650,468
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,356,778

1,088,888

CREDITORS
Amounts falling due after more than one
year

8

(35,052

)

(17,413

)

PROVISIONS FOR LIABILITIES 10 (37,512 ) (22,780 )
NET ASSETS 1,284,214 1,048,695

CAPITAL AND RESERVES
Called up share capital 11 112 112
Share premium 14,388 14,388
Retained earnings 1,269,714 1,034,195
SHAREHOLDERS' FUNDS 1,284,214 1,048,695

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

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

RS Agri Ltd (Registered number: 06905177)

Balance Sheet - continued
31 May 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 Board of Directors and authorised for issue on 1 December 2023 and were signed on its behalf by:





Mrs S Badham - Director


RS Agri Ltd (Registered number: 06905177)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

RS Agri Ltd 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 net invoiced sales of goods and services, excluding value added tax, adjusted for accrued and deferred income.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
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 & machinery - 25% on reducing balance
Fixtures & fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price.


RS Agri Ltd (Registered number: 06905177)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Employee benefits
Short term employee benefits, including holiday pay and other similar non monetary benefits, are recognised as an expense in the period in which they are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 13 ) .

RS Agri Ltd (Registered number: 06905177)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2022
and 31 May 2023 9,951
AMORTISATION
At 1 June 2022
and 31 May 2023 9,951
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

5. TANGIBLE FIXED ASSETS
Freehold Plant & Fixtures
property machinery & fittings
£    £    £   
COST
At 1 June 2022 318,523 193,055 3,145
Additions - 109,033 30,745
Disposals - (20,000 ) -
At 31 May 2023 318,523 282,088 33,890
DEPRECIATION
At 1 June 2022 - 127,806 2,319
Charge for year - 43,289 7,893
Eliminated on disposal - (18,874 ) -
At 31 May 2023 - 152,221 10,212
NET BOOK VALUE
At 31 May 2023 318,523 129,867 23,678
At 31 May 2022 318,523 65,249 826

RS Agri Ltd (Registered number: 06905177)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2022 153,275 14,278 682,276
Additions - 7,063 146,841
Disposals - - (20,000 )
At 31 May 2023 153,275 21,341 809,117
DEPRECIATION
At 1 June 2022 101,740 11,991 243,856
Charge for year 12,883 4,113 68,178
Eliminated on disposal - - (18,874 )
At 31 May 2023 114,623 16,104 293,160
NET BOOK VALUE
At 31 May 2023 38,652 5,237 515,957
At 31 May 2022 51,535 2,287 438,420

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant & Motor
machinery vehicles Totals
£    £    £   
COST
At 1 June 2022 - 31,510 31,510
Additions 59,000 - 59,000
At 31 May 2023 59,000 31,510 90,510
DEPRECIATION
At 1 June 2022 - 7,878 7,878
Charge for year 14,750 5,908 20,658
At 31 May 2023 14,750 13,786 28,536
NET BOOK VALUE
At 31 May 2023 44,250 17,724 61,974
At 31 May 2022 - 23,632 23,632

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 297,644 147,357
Other debtors 3,595 5,153
301,239 152,510

RS Agri Ltd (Registered number: 06905177)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Hire purchase contracts 18,875 5,004
Trade creditors 273,201 335,645
Taxation and social security 68,136 11,252
Other creditors 298,674 154,613
658,886 506,514

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Hire purchase contracts 35,052 17,413

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Hire purchase contracts 53,927 22,417

The finance on hire purchase is secured against the asset purchased.

10. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Deferred tax 37,512 22,780

Deferred
tax
£   
Balance at 1 June 2022 22,780
Movement in respect of
capital allowances 14,732
Balance at 31 May 2023 37,512

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 Ordinary £1 100 100
12 A Ordinary £1 12 12
112 112

12. ULTIMATE CONTROLLING PARTY

The company is owned and controlled by R A Lloyd and Mrs S L Badham, the director's of the company.