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Registration number: 10255432

AgCap Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

AgCap Limited

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3 to 4

Notes to the Financial Statements

5 to 9

 

AgCap Limited

Company Information

Directors

Mr T H Pollock

Miss A Z Pollock

Miss L C Pollock

Registration number

10255432

Registered office

21 Market Place
Cirencester
Gloucestershire
GL7 2NX

Accountants

mca Shepherd Smail
21 Market Place
Cirencester
Gloucestershire
GL7 2NX

 

AgCap Limited

Directors' Report for the Year Ended 31 July 2024

The directors present their report and the financial statements for the year ended 31 July 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr T H Pollock

Miss A Z Pollock

Miss L C Pollock

Principal activity

The principal activity of the company is the provision of consultancy services to facilitate investment in the global food and agribusiness sectors

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.


Business Review:
The Company had a satisfactory year with increases in transactional volumes and revenues, notably within the food ingredients sector, posting a pre-tax profit of £215,335 (prior year pre-tax profit of £172,432).

Dividends

A dividend of £140,000 (2023: £150,000) was paid during the year to the “A” and "B" shareholders.

Approved by the Board on 30 August 2024 and signed on its behalf by:


Mr T H Pollock
Director

 

AgCap Limited

(Registration number: 10255432)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

16,756

19,752

Investments

5

8,920

8,920

 

25,676

28,672

Current assets

 

Debtors

25,748

15,299

Cash at bank and in hand

 

109,781

75,452

 

135,529

90,751

Creditors: Amounts falling due within one year

6

(57,583)

(37,028)

Net current assets

 

77,946

53,723

Net assets

 

103,622

82,395

Capital and reserves

 

Called up share capital

100

100

Retained earnings

103,522

82,295

Shareholders' funds

 

103,622

82,395

 

AgCap Limited

(Registration number: 10255432)
Balance Sheet as at 31 July 2024

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 August 2024 and signed on its behalf by:
 

.........................................
Mr T H Pollock
Director

   
     
 

AgCap Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
21 Market Place
Cirencester
Gloucestershire
GL7 2NX

The principal place of business is:
Brotherwick House
Warkworth
Morpeth
Northumberland
NE65 0YQ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

 

AgCap Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

1% Straight line per month

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

AgCap Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

 

AgCap Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2023

24,969

24,969

At 31 July 2024

24,969

24,969

Depreciation

At 1 August 2023

5,217

5,217

Charge for the year

2,996

2,996

At 31 July 2024

8,213

8,213

Carrying amount

At 31 July 2024

16,756

16,756

At 31 July 2023

19,752

19,752

5

Investments held for resale

Paintings

£

Cost

At 1 August 2023

8,920

Provision

Carrying amount

At 31 July 2024

8,920

At 31 July 2023

8,920

 

AgCap Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

2,779

1,333

Taxation and social security

774

341

Corporation Tax

54,030

35,354

57,583

37,028

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary A Shares of £1 each

50

50

50

50

Ordinary B Shares of £1 each

50

50

50

50

 

100

100

100

100