Silverfin false false 31/12/2023 01/01/2023 31/12/2023 A E Donkin 20/04/1989 M H W Donkin 21/05/2023 15 July 2024 The principal activity of the Company during the financial year was brokering sales of specialised chemical products for the agricultural sector along with property rental. SC117399 2023-12-31 SC117399 bus:Director1 2023-12-31 SC117399 bus:Director2 2023-12-31 SC117399 2022-12-31 SC117399 core:CurrentFinancialInstruments 2023-12-31 SC117399 core:CurrentFinancialInstruments 2022-12-31 SC117399 core:ShareCapital 2023-12-31 SC117399 core:ShareCapital 2022-12-31 SC117399 core:RevaluationReserve 2023-12-31 SC117399 core:RevaluationReserve 2022-12-31 SC117399 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC117399 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC117399 core:OtherPropertyPlantEquipment 2022-12-31 SC117399 core:OtherPropertyPlantEquipment 2023-12-31 SC117399 2021-12-31 SC117399 bus:OrdinaryShareClass1 2023-12-31 SC117399 2023-01-01 2023-12-31 SC117399 bus:FilletedAccounts 2023-01-01 2023-12-31 SC117399 bus:SmallEntities 2023-01-01 2023-12-31 SC117399 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC117399 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC117399 bus:Director1 2023-01-01 2023-12-31 SC117399 bus:Director2 2023-01-01 2023-12-31 SC117399 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 SC117399 2022-01-01 2022-12-31 SC117399 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 SC117399 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC117399 (Scotland)

AGRI-BIO LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

AGRI-BIO LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

AGRI-BIO LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2023
AGRI-BIO LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 3,160 1,655
Investment property 4 545,000 545,000
548,160 546,655
Current assets
Cash at bank and in hand 5 512,322 518,030
512,322 518,030
Creditors: amounts falling due within one year 6 ( 4,318) ( 15,987)
Net current assets 508,004 502,043
Total assets less current liabilities 1,056,164 1,048,698
Provision for liabilities 7, 8 ( 790) ( 414)
Net assets 1,055,374 1,048,284
Capital and reserves
Called-up share capital 9 100 100
Revaluation reserve 35,197 35,197
Profit and loss account 1,020,077 1,012,987
Total shareholders' funds 1,055,374 1,048,284

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Agri-Bio Limited (registered number: SC117399) were approved and authorised for issue by the Board of Directors on 15 July 2024. They were signed on its behalf by:

A E Donkin
Director
AGRI-BIO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
AGRI-BIO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Agri-Bio Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Inverey, 11 west Park Road, Cupar, KY15 5DJ.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received for goods provided in the normal course of business and trade discounts. The fair value of consideration takes into account trade discounts. Revenue is recognised on despatch.

Rental income is recognised on a straight line basis over the term of the lease.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2023 44,019 44,019
Additions 2,034 2,034
Disposals ( 299) ( 299)
At 31 December 2023 45,754 45,754
Accumulated depreciation
At 01 January 2023 42,364 42,364
Charge for the financial year 499 499
Disposals ( 269) ( 269)
At 31 December 2023 42,594 42,594
Net book value
At 31 December 2023 3,160 3,160
At 31 December 2022 1,655 1,655

4. Investment property

Investment property
£
Valuation
As at 01 January 2023 545,000
As at 31 December 2023 545,000

The investment property was valued at £545,000 on 31 December 2021 by Corum Property. The investment property was valued on an open market basis. The directors consider this to remain a true reflection of the fair value of the property at 31 December 2023.

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 512,322 518,030

6. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 1,398 11,966
Other creditors 2,920 4,021
4,318 15,987

7. Provision for liabilities

2023 2022
£ £
Deferred tax 790 414

8. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 414) ( 552)
(Charged)/credited to the Statement of Income and Retained Earnings ( 376) 138
At the end of financial year ( 790) ( 414)

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100