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REGISTERED NUMBER: 07909605 (England and Wales)



UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

AGROCHEMEX ENVIRONMENTAL LTD

AGROCHEMEX ENVIRONMENTAL LTD (REGISTERED NUMBER: 07909605)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


AGROCHEMEX ENVIRONMENTAL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: A W Gamblin
Ms C Gamblin
T Gamblin





REGISTERED OFFICE: Beckwith Barn
Warren Estate
Lordship Road
Writtle
Essex
CM1 3WT





REGISTERED NUMBER: 07909605 (England and Wales)





ACCOUNTANTS: Lucentum Business Services Ltd
Beckwith Barn
Warren Estate
Lordship Road
Chelmsford
Essex
CM1 3WT

AGROCHEMEX ENVIRONMENTAL LTD (REGISTERED NUMBER: 07909605)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 410,711 534,824

CURRENT ASSETS
Debtors 6 1,237,037 1,630,676
Cash at bank and in hand 7 906,261 397,814
2,143,298 2,028,490
CREDITORS
Amounts falling due within one year 8 1,655,230 1,857,726
NET CURRENT ASSETS 488,068 170,764
TOTAL ASSETS LESS CURRENT
LIABILITIES

898,779

705,588

PROVISIONS FOR LIABILITIES 10 83,921 122,932
NET ASSETS 814,858 582,656

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 814,758 582,556
SHAREHOLDERS' FUNDS 814,858 582,656

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2024 and were signed on its behalf by:



A W Gamblin - Director


AGROCHEMEX ENVIRONMENTAL LTD (REGISTERED NUMBER: 07909605)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Agrochemex Environmental Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


Amounts in these financial statements are rounded to the nearest Pound Sterling (£).

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Summary of significant accounting policies
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.

Turnover
Goods and services
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable, services rendered, statet net of discounts and of Value Added Tax.

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

The company's principal activity is the provision of technical testing and analysis work. Turnover is recognised over the period the service is provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses. Depreciation of a tangible fixed asset begins when it is in the location and condition necessary available for the use intended.

Tangible fixed asset depreciation is included in administrative expenses in the Income Statement.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted 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 the Income Statement.

AGROCHEMEX ENVIRONMENTAL LTD (REGISTERED NUMBER: 07909605)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
The company only enter into basic financial instruments transactions that results in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, other third party loans and loans with related parties.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Borrowing costs
All borrowing costs are recognised in profit or loss in the period in which they are incurred

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2023 - 39 ) .

AGROCHEMEX ENVIRONMENTAL LTD (REGISTERED NUMBER: 07909605)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 936,480 13,042 151,967 24,726 1,126,215
Additions 98,030 3,166 - 6,603 107,799
At 29 February 2024 1,034,510 16,208 151,967 31,329 1,234,014
DEPRECIATION
At 1 March 2023 512,430 3,928 64,340 10,693 591,391
Charge for year 198,614 2,174 21,909 9,215 231,912
At 29 February 2024 711,044 6,102 86,249 19,908 823,303
NET BOOK VALUE
At 29 February 2024 323,466 10,106 65,718 11,421 410,711
At 28 February 2023 424,050 9,114 87,627 14,033 534,824

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,182,005 1,353,798
Amounts owed by related parties 881 881
Other debtors 54,151 275,997
1,237,037 1,630,676

7. CASH AT BANK AND IN HAND
2024 2023
£    £   
Bank account 655,787 397,340
Bank reserve account 250,000 -
Cash in hand 474 474
906,261 397,814

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 20,040 48,764
Amounts owed to related parties 484,907 428,899
Taxation and social security 78,613 163,458
Other creditors 1,071,670 1,216,605
1,655,230 1,857,726

9. SECURED DEBTS

Other loans are unsecured and interest bearing.

AGROCHEMEX ENVIRONMENTAL LTD (REGISTERED NUMBER: 07909605)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 83,921 122,932

Deferred
tax
£   
Balance at 1 March 2023 122,932
Provided during year (39,011 )
Balance at 29 February 2024 83,921

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

12. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separate from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund. Contributions payable to the fund at the year end by the company and included in other creditors are £nil (2023: £nil).

20242023
££

Contributions payable by the Company for the year41,26041,652

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other creditors at the balance sheet date is an amount of £692,578 (2023: £1,210,655) due to the directors of the company.

14. RELATED PARTY DISCLOSURES

Other related parties

2024 2023
£ £
Purchases from related parties 239,070 247,460
Sales to related parties 40,645 65,700
Amounts due to related parties 484,907 428,899
Amounts due from related parties 881 881

The amounts shown above concern transactions with other companies in which the director Mr A Gamblin has a controlling interest.