Company registration number 08279694 (England and Wales)
AGRILINE PRODUCTS HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
AGRILINE PRODUCTS HOLDINGS LIMITED
COMPANY INFORMATION
Director
Mr O G Stiley
Company number
08279694
Registered office
Grasmere Cottage
Lower Bentley
Bromsgrove
Worcestershire
B60 4JB
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC Bank Plc
Haydon House
Alcester Road
Studley
Warwickshire
B80 7AN
AGRILINE PRODUCTS HOLDINGS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
AGRILINE PRODUCTS HOLDINGS LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF AGRILINE PRODUCTS HOLDINGS LIMITED FOR THE YEAR ENDED 30 APRIL 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Agriline Products Holdings Limited for the year ended 30 April 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Agriline Products Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Agriline Products Holdings Limited and state those matters that we have agreed to state to the board of directors of Agriline Products Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Agriline Products Holdings Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Agriline Products Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Agriline Products Holdings Limited. You consider that Agriline Products Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Agriline Products Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
5 December 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
AGRILINE PRODUCTS HOLDINGS LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
481,551
418,129
Investment property
4
2,630,436
3,169,241
Investments
5
2,513,983
2,513,983
5,625,970
6,101,353
Current assets
Debtors
6
1,600,363
954,520
Cash at bank and in hand
929
445
1,601,292
954,965
Creditors: amounts falling due within one year
7
(1,577,643)
(1,488,555)
Net current assets/(liabilities)
23,649
(533,590)
Total assets less current liabilities
5,649,619
5,567,763
Creditors: amounts falling due after more than one year
8
(1,435,234)
(1,507,298)
Provisions for liabilities
10
(48,350)
(56,341)
Net assets
4,166,035
4,004,124
Capital and reserves
Called up share capital
11
800
800
Profit and loss reserves
4,165,235
4,003,324
Total equity
4,166,035
4,004,124

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

AGRILINE PRODUCTS HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 5 December 2024
Mr O G Stiley
Director
Company registration number 08279694 (England and Wales)
AGRILINE PRODUCTS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
1
Accounting policies
Company information

Agriline Products Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Grasmere Cottage, Lower Bentley, Bromsgrove, Worcestershire, England, B60 4JB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
2% on reducing balance
Plant and machinery
25% on reducing balance
1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

AGRILINE PRODUCTS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.8
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
2
AGRILINE PRODUCTS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
3
Tangible fixed assets
Leasehold improvements
Plant and machinery
Total
£
£
£
Cost
At 1 May 2023
302,039
147,593
449,632
Additions
-
0
129,818
129,818
At 30 April 2024
302,039
277,411
579,450
Depreciation and impairment
At 1 May 2023
28,428
3,075
31,503
Depreciation charged in the year
5,472
60,924
66,396
At 30 April 2024
33,900
63,999
97,899
Carrying amount
At 30 April 2024
268,139
213,412
481,551
At 30 April 2023
273,611
144,518
418,129
4
Investment property
2024
£
Fair value
At 1 May 2023
3,169,241
Disposals
(538,805)
At 30 April 2024
2,630,436

It is in the opinion of the director that the market value of investment property is not considered to be significantly different from the carrying value held at historical cost.

5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
2,513,983
2,513,983
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1,600,363
954,520
AGRILINE PRODUCTS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
83,002
93,941
Amounts owed to group undertakings
1,441,734
1,367,772
Taxation and social security
49,422
22,584
Other creditors
3,485
4,258
1,577,643
1,488,555
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,435,234
1,507,298
9
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Bank loans
1,518,236
1,601,239
Bank loans are secured by way of a fixed and floating charge over all assets of the company.
Security has also been given by way of a fixed and floating charge over the assets of Agriline Products Limited in respect of the bank loan.
10
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
48,350
56,341
11
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
500
500
500
500
Ordinary B of £1 each
100
100
100
100
Ordinary C of £1 each
100
100
100
100
Ordinary D of £1 each
100
100
100
100
800
800
800
800
AGRILINE PRODUCTS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 8 -
12
Directors' transactions

Advances or credits have been granted by the company to its director as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Closing balance
£
£
£
£
Loan account
2.25
-
43,257
2,459
45,716
-
43,257
2,459
45,716

The director's loan account was repaid within nine months of the year end.

13
Ultimate controlling party

There is no ultimate controlling party.

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