Silverfin false false 28/02/2024 01/03/2023 28/02/2024 J M Arachchige 23/11/2022 N M Ford 07/01/2021 R E T Simpson 14/02/2017 24 November 2024 The principal activity of the Company during the financial year was manufacture and distribution of agriculture machinery. 10619733 2024-02-28 10619733 bus:Director1 2024-02-28 10619733 bus:Director2 2024-02-28 10619733 bus:Director3 2024-02-28 10619733 2023-02-28 10619733 core:CurrentFinancialInstruments 2024-02-28 10619733 core:CurrentFinancialInstruments 2023-02-28 10619733 core:Non-currentFinancialInstruments 2024-02-28 10619733 core:Non-currentFinancialInstruments 2023-02-28 10619733 core:ShareCapital 2024-02-28 10619733 core:ShareCapital 2023-02-28 10619733 core:RetainedEarningsAccumulatedLosses 2024-02-28 10619733 core:RetainedEarningsAccumulatedLosses 2023-02-28 10619733 core:PlantMachinery 2023-02-28 10619733 core:Vehicles 2023-02-28 10619733 core:ComputerEquipment 2023-02-28 10619733 core:PlantMachinery 2024-02-28 10619733 core:Vehicles 2024-02-28 10619733 core:ComputerEquipment 2024-02-28 10619733 2023-03-01 2024-02-28 10619733 bus:FilletedAccounts 2023-03-01 2024-02-28 10619733 bus:SmallEntities 2023-03-01 2024-02-28 10619733 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-28 10619733 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 10619733 bus:Director1 2023-03-01 2024-02-28 10619733 bus:Director2 2023-03-01 2024-02-28 10619733 bus:Director3 2023-03-01 2024-02-28 10619733 core:PlantMachinery 2023-03-01 2024-02-28 10619733 core:Vehicles 2023-03-01 2024-02-28 10619733 core:ComputerEquipment core:TopRangeValue 2023-03-01 2024-02-28 10619733 2022-03-01 2023-02-28 10619733 core:ComputerEquipment 2023-03-01 2024-02-28 10619733 core:CurrentFinancialInstruments 2023-03-01 2024-02-28 10619733 core:Non-currentFinancialInstruments 2023-03-01 2024-02-28 iso4217:GBP xbrli:pure

Company No: 10619733 (England and Wales)

AITCHISON AGRI UK LIMITED

Unaudited Financial Statements
For the financial year ended 28 February 2024
Pages for filing with the registrar

AITCHISON AGRI UK LIMITED

Unaudited Financial Statements

For the financial year ended 28 February 2024

Contents

AITCHISON AGRI UK LIMITED

BALANCE SHEET

As at 28 February 2024
AITCHISON AGRI UK LIMITED

BALANCE SHEET (continued)

As at 28 February 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 57,614 76,857
57,614 76,857
Current assets
Stocks 4 443,257 438,038
Debtors 5 23,959 134,328
Cash at bank and in hand 51,753 3,778
518,969 576,144
Creditors: amounts falling due within one year 6 ( 988,647) ( 999,196)
Net current liabilities (469,678) (423,052)
Total assets less current liabilities (412,064) (346,195)
Creditors: amounts falling due after more than one year 7 ( 35,950) ( 42,637)
Net liabilities ( 448,014) ( 388,832)
Capital and reserves
Called-up share capital 120 120
Profit and loss account ( 448,134 ) ( 388,952 )
Total shareholders' deficit ( 448,014) ( 388,832)

For the financial year ending 28 February 2024 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 Aitchison Agri UK Limited (registered number: 10619733) were approved and authorised for issue by the Board of Directors on 24 November 2024. They were signed on its behalf by:

N M Ford
Director
AITCHISON AGRI UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2024
AITCHISON AGRI UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2024
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

Aitchison Agri UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

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 and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Computer equipment 4 years straight line

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Plant and machinery Vehicles Computer equipment Total
£ £ £ £
Cost
At 01 March 2023 19,567 75,246 499 95,312
At 28 February 2024 19,567 75,246 499 95,312
Accumulated depreciation
At 01 March 2023 5,868 12,473 114 18,455
Charge for the financial year 3,425 15,693 125 19,243
At 28 February 2024 9,293 28,166 239 37,698
Net book value
At 28 February 2024 10,274 47,080 260 57,614
At 28 February 2023 13,699 62,773 385 76,857

4. Stocks

2024 2023
£ £
Stocks 443,257 438,038

5. Debtors

2024 2023
£ £
Trade debtors 23,839 132,219
Amounts owed by Group undertakings 120 120
Other debtors 0 1,989
23,959 134,328

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 415,900 434,982
Amounts owed to Group undertakings 431,084 489,750
Other taxation and social security 86,557 13,117
Obligations under finance leases and hire purchase contracts (secured) 6,686 6,842
Other creditors 48,420 54,505
988,647 999,196

The hire purchase contracts are secured by the assets to which they are related.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts (secured) 35,950 42,637

The hire purchase contracts are secured by the assets to which they are related.

8. Ultimate controlling party

Parent Company:

The company's immediate parent is Agrico Holdings Limited incorporated in New Zealand.The ultimate parent is Simpro Holdings Limited, incorporated in New Zealand.