Caseware UK (AP4) 2023.0.135 2023.0.135 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activityfalse2023-04-06false22truetrue 10429961 2023-04-06 2024-04-05 10429961 2022-04-06 2023-04-05 10429961 2024-04-05 10429961 2023-04-05 10429961 c:Director1 2023-04-06 2024-04-05 10429961 c:Director2 2023-04-06 2024-04-05 10429961 d:Buildings 2023-04-06 2024-04-05 10429961 d:Buildings 2024-04-05 10429961 d:Buildings 2023-04-05 10429961 d:Buildings d:OwnedOrFreeholdAssets 2023-04-06 2024-04-05 10429961 d:PlantMachinery 2023-04-06 2024-04-05 10429961 d:PlantMachinery 2024-04-05 10429961 d:PlantMachinery 2023-04-05 10429961 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-06 2024-04-05 10429961 d:FurnitureFittings 2023-04-06 2024-04-05 10429961 d:FurnitureFittings 2024-04-05 10429961 d:FurnitureFittings 2023-04-05 10429961 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-06 2024-04-05 10429961 d:OwnedOrFreeholdAssets 2023-04-06 2024-04-05 10429961 d:FreeholdInvestmentProperty 2024-04-05 10429961 d:FreeholdInvestmentProperty 2023-04-05 10429961 d:CurrentFinancialInstruments 2024-04-05 10429961 d:CurrentFinancialInstruments 2023-04-05 10429961 d:Non-currentFinancialInstruments 2024-04-05 10429961 d:Non-currentFinancialInstruments 2023-04-05 10429961 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-05 10429961 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-05 10429961 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-05 10429961 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-05 10429961 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-05 10429961 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-05 10429961 d:ShareCapital 2024-04-05 10429961 d:ShareCapital 2023-04-05 10429961 d:RevaluationReserve 2024-04-05 10429961 d:RevaluationReserve 2023-04-05 10429961 d:RetainedEarningsAccumulatedLosses 2024-04-05 10429961 d:RetainedEarningsAccumulatedLosses 2023-04-05 10429961 c:FRS102 2023-04-06 2024-04-05 10429961 c:AuditExempt-NoAccountantsReport 2023-04-06 2024-04-05 10429961 c:FullAccounts 2023-04-06 2024-04-05 10429961 c:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 10429961 d:HirePurchaseContracts d:WithinOneYear 2024-04-05 10429961 d:HirePurchaseContracts d:WithinOneYear 2023-04-05 10429961 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-04-05 10429961 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-04-05 10429961 2 2023-04-06 2024-04-05 10429961 5 2023-04-06 2024-04-05 10429961 e:PoundSterling 2023-04-06 2024-04-05 iso4217:GBP xbrli:pure
                                                                                                                   Registered number: 10429961














AMARK Agriculture Limited


UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

For the year ended 5 April 2024

 
AMARK Agriculture Limited
Registered number:10429961

BALANCE SHEET
As at 5 April 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
290,340
231,237

Investment property
 5 
180,000
180,000

  
470,340
411,237

Current assets
  

Stocks
  
5,000
5,000

Debtors: amounts falling due within one year
 6 
39,540
39,442

Cash at bank and in hand
  
726,663
596,331

  
771,203
640,773

Creditors: amounts falling due within one year
 7 
(103,877)
(53,748)

Net current assets
  
 
 
667,326
 
 
587,025

Total assets less current liabilities
  
1,137,666
998,262

Creditors: amounts falling due after more than one year
 8 
(37,335)
(30,000)

Provisions for liabilities
  

Deferred tax
  
(36,976)
(22,200)

  
 
 
(36,976)
 
 
(22,200)

Net assets
  
1,063,355
946,062


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
  
24,663
24,663

Profit and loss account
  
1,038,592
921,299

  
1,063,355
946,062


Page 1

 
AMARK Agriculture Limited
Registered number:10429961
    
BALANCE SHEET (CONTINUED)
As at 5 April 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mark Butler
Amanda Butler
Director
Director
Date: 22 November 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
AMARK Agriculture Limited
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 5 April 2024

1.


General information

AMARK Agriculture Limited is a company limited by shares incorporated in England within the United Kingdom. The address of the registered office is given in the company information of these financial statements.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
AMARK Agriculture Limited
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 5 April 2024

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
AMARK Agriculture Limited
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 5 April 2024

2.Accounting policies (continued)

 
2.9

Current and deferred 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

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.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model 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, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated
Plant and machinery
-
20%
Reducing balance
Fixtures and fittings
-
20%
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.

Page 5

 
AMARK Agriculture Limited
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 5 April 2024

2.Accounting policies (continued)

 
2.11

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.12

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the 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.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
AMARK Agriculture Limited
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 5 April 2024

3.


Employees

2024
2023
£
£

Wages and salaries
7,245
13,542

Cost of defined contribution scheme
20,000
20,000

27,245
33,542


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
2
2


4.


Tangible fixed assets





Freehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 6 April 2023
167,100
111,556
5,366
284,022


Additions
-
73,398
-
73,398



At 5 April 2024

167,100
184,954
5,366
357,420



Depreciation


At 6 April 2023
-
50,504
2,281
52,785


Charge for the year on owned assets
-
13,678
617
14,295



At 5 April 2024

-
64,182
2,898
67,080



Net book value



At 5 April 2024
167,100
120,772
2,468
290,340



At 5 April 2023
167,100
61,052
3,085
231,237

Page 7

 
AMARK Agriculture Limited
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 5 April 2024

5.


Investment property


Freehold investment property

£



Valuation


At 6 April 2023
180,000



At 5 April 2024
180,000

The 2024 valuations were made by the director's, on an open market value for existing use basis.





6.


Debtors

2024
2023
£
£


Trade debtors
31,110
28,250

Other debtors
8,430
11,192

39,540
39,442



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bounce back loan
10,000
10,000

Trade creditors
32,116
27,175

Corporation tax
22,647
16,573

Other taxation and social security
4,449
-

Obligations under finance lease and hire purchase contracts
34,665
-

103,877
53,748


Page 8

 
AMARK Agriculture Limited
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 5 April 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bounce back loan
20,000
30,000

Net obligations under finance leases and hire purchase contracts
17,335
-

37,335
30,000



9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bounce back loan
10,000
10,000


10,000
10,000


Amounts falling due 2-5 years

Bounce back loan
20,000
30,000


20,000
30,000


30,000
40,000



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
34,665
-

Between 1-5 years
17,335
-

52,000
-

 
Page 9