2023-01-012023-12-312023-12-31false08584598Agrex Holdings 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Agrex Holdings Limited

Registered Number
08584598
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

Agrex Holdings Limited
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

G Cocking
L D Cocking
E A Coultan
T H Coultan

Registered Address

21a Newland
Lincoln
LN1 1XP

Place of Business

Red Barn Offices

Langworth Road

Scothern

Lincolnshire

LN2 2UP


Registered Number

08584598 (England and Wales)
Agrex Holdings Limited
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets559,43174,120
Investments6950950
60,38175,070
Current assets
Debtors8239,302184,846
Cash at bank and on hand4,2264,821
243,528189,667
Creditors amounts falling due within one year9(5,913)(2,335)
Net current assets (liabilities)237,615187,332
Total assets less current liabilities297,996262,402
Provisions for liabilities10(11,292)(14,083)
Net assets286,704248,319
Capital and reserves
Called up share capital400400
Profit and loss account286,304247,919
Shareholders' funds286,704248,319
The financial statements were approved and authorised for issue by the Board of Directors on 21 August 2024, and are signed on its behalf by:
L D Cocking
Director
T H Coultan
Director

Registered Company No. 08584598
Agrex Holdings Limited
Notes to the Financial Statements
for the year ended 31 December 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery15
Vehicles20
Office Equipment15
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
4.Employee information

20232022
Average number of employees during the year00
5.Property, plant and equipment

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 January 23115,52086,12318,111219,754
Disposals-(10,628)-(10,628)
At 31 December 23115,52075,49518,111209,126
Depreciation and impairment
At 01 January 2378,71755,77111,146145,634
Charge for year5,5355,5591,04512,139
On disposals-(8,078)-(8,078)
At 31 December 2384,25253,25212,191149,695
Net book value
At 31 December 2331,26822,2435,92059,431
At 31 December 2236,80330,3526,96574,120
6.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 January 23950950
At 31 December 23950950
Net book value
At 31 December 23950950
At 31 December 22950950

Notes

1Investments in group undertakings and participating interests
7.Description of nature of transactions and balances with related parties
A loan account exists between the company and its subsidiary. At the period end, the balance due from Agrex Limited was £239,302 (2022 - £184,846).
8.Debtors

2023

2022

££
Amounts owed by group undertakings239,302174,846
Prepayments and accrued income-10,000
Total239,302184,846
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Taxation and social security3,901322
Other creditors2,0122,013
Total5,9132,335
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)11,29214,083
Total11,29214,083