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REGISTERED NUMBER: 01291598 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ACCESS IRRIGATION LIMITED

ACCESS IRRIGATION LIMITED (REGISTERED NUMBER: 01291598)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ACCESS IRRIGATION LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: M J Briley
M D Pearce





REGISTERED OFFICE: 15 Yelvertoft Road
Crick
Northampton
NN6 7XS





REGISTERED NUMBER: 01291598 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
16 Davy Court
Castle Mound Way
Rugby, CV23 0UZ
Magma Audit LLP is part
Of the Dains Group

ACCESS IRRIGATION LIMITED (REGISTERED NUMBER: 01291598)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 139,762 159,270

CURRENT ASSETS
Stocks 446,452 480,959
Debtors 5 96,676 68,648
Cash at bank and in hand 52,364 25,697
595,492 575,304
CREDITORS
Amounts falling due within one year 6 (191,824 ) (186,895 )
NET CURRENT ASSETS 403,668 388,409
TOTAL ASSETS LESS CURRENT
LIABILITIES

543,430

547,679

CREDITORS
Amounts falling due after more than one
year

7

(4,613

)

(10,448

)
NET ASSETS 538,817 537,231

CAPITAL AND RESERVES
Called up share capital 25,500 25,500
Retained earnings 513,317 511,731
SHAREHOLDERS' FUNDS 538,817 537,231

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

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

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





M D Pearce - Director


ACCESS IRRIGATION LIMITED (REGISTERED NUMBER: 01291598)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023


1. STATUTORY INFORMATION

Access Irrigation Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 01291598 and its registered office is 15 Yelvertoft Road, Crick, Northampton, NN6 7XS.

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.

The financial statements are presented in Sterling (£) and amounts are rounded to the nearest £1.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of goods
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Plant and machinery- 20% on reducing balance
Fixtures and fittings- 20% straight line and 10% on reducing balance
Motor vehicles- 25% on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

ACCESS IRRIGATION LIMITED (REGISTERED NUMBER: 01291598)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leases
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.

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments 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.

Payments in respect of other post-retirement benefits are charged to profit or loss in the period to which they relate.


ACCESS IRRIGATION LIMITED (REGISTERED NUMBER: 01291598)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 21 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 112,245 267,674 120,011 499,930
Additions 554 7,954 - 8,508
At 31 December 2023 112,799 275,628 120,011 508,438
DEPRECIATION
At 1 January 2023 89,291 178,556 72,813 340,660
Charge for year 4,681 11,497 11,838 28,016
At 31 December 2023 93,972 190,053 84,651 368,676
NET BOOK VALUE
At 31 December 2023 18,827 85,575 35,360 139,762
At 31 December 2022 22,954 89,118 47,198 159,270



5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 48,339 28,800
Other debtors 48,337 39,848
96,676 68,648

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) 5,835 14,502
Trade creditors 74,581 57,351
Taxation and social security 46,861 31,281
Other creditors 64,547 83,761
191,824 186,895

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) 4,613 10,448

ACCESS IRRIGATION LIMITED (REGISTERED NUMBER: 01291598)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 5,835 14,502
Between one and five years 4,613 10,448
10,448 24,950

Non-cancellable operating leases
2023 2022
£    £   
Within one year 9,188 36,750

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 10,448 24,950

Amounts due on hire purchase contracts are secured over the assets to which they relate.

10. RELATED PARTY DISCLOSURES

Access Irrigation Directors Pension Scheme is a pension scheme for the benefit of the directors of Access Irrigation Limited, of which the directors are trustees. During the year the company paid rent to the pension scheme of £36,750 (2022: £36,750).