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Company No: 03514314 (England and Wales)

AGRICULTURAL AND COMMERCIAL INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

AGRICULTURAL AND COMMERCIAL INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

AGRICULTURAL AND COMMERCIAL INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 April 2024
AGRICULTURAL AND COMMERCIAL INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 283,221 293,272
283,221 293,272
Current assets
Debtors 4 15,069 7,007
Cash at bank and in hand 1,717,256 1,754,676
1,732,325 1,761,683
Creditors: amounts falling due within one year 5 ( 6,184) ( 9,647)
Net current assets 1,726,141 1,752,036
Total assets less current liabilities 2,009,362 2,045,308
Net assets 2,009,362 2,045,308
Capital and reserves
Called-up share capital 1,070,200 1,070,200
Profit and loss account 939,162 975,108
Total shareholders' funds 2,009,362 2,045,308

For the financial year ending 30 April 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 Agricultural and Commercial Investments Limited (registered number: 03514314) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Michael Francis Holliday
Director
Jean Holliday
Director

22 November 2024

AGRICULTURAL AND COMMERCIAL INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
AGRICULTURAL AND COMMERCIAL INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 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

Agricultural and Commercial Investments 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 C/O Larking Gowen 1st Floor Prospect House, Rouen Road, Norwich, NR1 1RE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

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 straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 25 % reducing balance
Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Plant and machinery Total
£ £ £
Cost
At 01 May 2023 488,030 81,448 569,478
At 30 April 2024 488,030 81,448 569,478
Accumulated depreciation
At 01 May 2023 195,917 80,289 276,206
Charge for the financial year 9,761 290 10,051
At 30 April 2024 205,678 80,579 286,257
Net book value
At 30 April 2024 282,352 869 283,221
At 30 April 2023 292,113 1,159 293,272

4. Debtors

2024 2023
£ £
Prepayments 12,425 6,162
VAT recoverable 2,644 845
15,069 7,007

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to directors 384 1,697
Accruals 5,800 7,950
6,184 9,647

6. Related party transactions

Included in creditors is a balance owed to the directors amounting to £384 which is repayable on demand (2023 : £1,697).