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REGISTERED NUMBER: 04712195 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Agriweld Limited

Agriweld Limited (Registered number: 04712195)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Agriweld Limited

Company Information
for the Year Ended 31 March 2024







Directors: Mr. D G Foster
Mrs. D Foster
Mr H G Foster





Registered office: The Workshop, Main Street
Garton-on-the-Wolds
Driffield
East Yorkshire
YO25 3ET





Registered number: 04712195 (England and Wales)





Accountants: Ullyott Limited
6 George Street
Driffield
East Yorkshire
YO25 6RA

Agriweld Limited (Registered number: 04712195)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 498,942 528,016
498,943 528,017

CURRENT ASSETS
Stocks 6 384,649 336,236
Debtors 7 214,010 303,361
Cash at bank and in hand 116 15,390
598,775 654,987
CREDITORS
Amounts falling due within one year 8 484,730 527,345
NET CURRENT ASSETS 114,045 127,642
TOTAL ASSETS LESS CURRENT
LIABILITIES

612,988

655,659

CREDITORS
Amounts falling due after more than one
year

9

(194,995

)

(199,103

)

PROVISIONS FOR LIABILITIES 11 (50,924 ) (56,449 )
NET ASSETS 367,069 400,107

CAPITAL AND RESERVES
Called up share capital 12 2 2
Retained earnings 367,067 400,105
SHAREHOLDERS' FUNDS 367,069 400,107

Agriweld Limited (Registered number: 04712195)

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2024 and were signed on its behalf by:





Mrs. D Foster - Director


Agriweld Limited (Registered number: 04712195)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Agriweld Limited 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 (£).


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.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Agriweld Limited (Registered number: 04712195)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 44 ) .

Agriweld Limited (Registered number: 04712195)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 20,661
AMORTISATION
At 1 April 2023
and 31 March 2024 20,660
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

5. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 April 2023 230,919 620,006 850,925
Additions - 13,762 13,762
At 31 March 2024 230,919 633,768 864,687
DEPRECIATION
At 1 April 2023 - 322,909 322,909
Charge for year - 42,836 42,836
At 31 March 2024 - 365,745 365,745
NET BOOK VALUE
At 31 March 2024 230,919 268,023 498,942
At 31 March 2023 230,919 297,097 528,016

Agriweld Limited (Registered number: 04712195)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2023 264,504
Additions 9,893
At 31 March 2024 274,397
DEPRECIATION
At 1 April 2023 117,887
Charge for year 23,477
At 31 March 2024 141,364
NET BOOK VALUE
At 31 March 2024 133,033
At 31 March 2023 146,617

6. STOCKS
2024 2023
£    £   
Stocks 384,649 336,236

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 179,420 279,515
Corporation tax 27,940 10,667
Prepayments 6,650 13,179
214,010 303,361

Agriweld Limited (Registered number: 04712195)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 108,395 141,686
Other loans 50,597 -
Hire purchase contracts 49,375 51,524
Trade creditors 123,995 163,976
Social security and other taxes 13,809 33,004
VAT 97,160 72,394
Directors' current accounts 768 150
Deferred income 14,824 54,938
Accrued expenses 25,807 9,673
484,730 527,345

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 93,513 110,679
Other loans - 1-2 years 60,283 -
Hire purchase contracts 41,199 88,424
194,995 199,103

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 86,395 119,686
Bank loans 115,513 132,679
201,908 252,365

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 50,924 56,449

Agriweld Limited (Registered number: 04712195)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 56,449
Provided during year (5,525 )
Balance at 31 March 2024 50,924

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2