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REGISTERED NUMBER: SC534161 (Scotland)















Unaudited Financial Statements for the Year Ended 31st October 2023

for

Agri Services Islay Ltd

Agri Services Islay Ltd (Registered number: SC534161)






Contents of the Financial Statements
for the Year Ended 31st October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


Agri Services Islay Ltd

Company Information
for the Year Ended 31st October 2023







DIRECTOR: Mrs S Woodrow





REGISTERED OFFICE: 16 West End
Port Charlotte
Isle of Islay
PA48 7TN





REGISTERED NUMBER: SC534161 (Scotland)





ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

Agri Services Islay Ltd (Registered number: SC534161)

Balance Sheet
31st October 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 211,317 261,697

CURRENT ASSETS
Stocks 5 83,544 68,288
Debtors 6 206,025 262,423
Cash at bank 66,328 48,996
355,897 379,707
CREDITORS
Amounts falling due within one year 7 (265,227 ) (301,421 )
NET CURRENT ASSETS 90,670 78,286
TOTAL ASSETS LESS CURRENT
LIABILITIES

301,987

339,983

CREDITORS
Amounts falling due after more than one year 8 (32,007 ) (84,458 )

PROVISIONS FOR LIABILITIES (47,584 ) (49,722 )
NET ASSETS 222,396 205,803

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 222,296 205,703
SHAREHOLDERS' FUNDS 222,396 205,803

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31st October 2024 and were signed by:





Mrs S Woodrow - Director


Agri Services Islay Ltd (Registered number: SC534161)

Notes to the Financial Statements
for the Year Ended 31st October 2023

1. STATUTORY INFORMATION

Agri Services Islay Ltd is a private company, limited by shares , registered in Scotland. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Agri Services Islay Ltd (Registered number: SC534161)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of he business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade Creditors
Trade creditors are obligations o pay for goods or services that have been acquired in the ordinary course of the 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.

Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between proceeds, net of transactions costs, and the amount due on redemption recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1st November 2022 481,502 318 481,820
Additions 2,450 - 2,450
At 31st October 2023 483,952 318 484,270
DEPRECIATION
At 1st November 2022 219,905 218 220,123
Charge for year 52,810 20 52,830
At 31st October 2023 272,715 238 272,953
NET BOOK VALUE
At 31st October 2023 211,237 80 211,317
At 31st October 2022 261,597 100 261,697

5. STOCKS
2023 2022
£    £   
Work-in-progress 83,544 68,288

Agri Services Islay Ltd (Registered number: SC534161)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 26,088 95,914
Newmains 179,937 166,509
206,025 262,423

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 23,230 31,050
Hire purchase contracts 46,421 61,656
Trade creditors 90,417 91,379
Tax 27,097 13,997
Social security and other taxes 22,369 52,179
VAT 46,458 48,508
Directors' current accounts 6,583 -
Accrued expenses 2,652 2,652
265,227 301,421

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 32,007 84,458

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs S Woodrow.