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REGISTERED NUMBER: SC465204 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Agricultural Commodity Exchange Ltd

Agricultural Commodity Exchange Ltd (Registered number: SC465204)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Agricultural Commodity Exchange Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: D A Seed
Mrs S J Seed





REGISTERED OFFICE: Cothill
Duns
Berwickshire
TD10 6YW





REGISTERED NUMBER: SC465204 (Scotland)





ACCOUNTANTS: EQ Accountants Ltd
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

Agricultural Commodity Exchange Ltd (Registered number: SC465204)

Statement of Financial Position
31 May 2024

31.5.24 31.5.23
Notes £    £   
CURRENT ASSETS
Inventories 56,987 147,840
Debtors 4 939,385 2,949,618
Cash at bank 53 32
996,425 3,097,490
CREDITORS
Amounts falling due within one year 5 686,283 2,857,302
NET CURRENT ASSETS 310,142 240,188
TOTAL ASSETS LESS CURRENT
LIABILITIES

310,142

240,188

RESERVES
Retained earnings 310,142 240,188
310,142 240,188

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 23 January 2025 and were signed on its behalf by:





D A Seed - Director


Agricultural Commodity Exchange Ltd (Registered number: SC465204)

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

1. STATUTORY INFORMATION

Agricultural Commodity Exchange Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks
Inventories 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - NIL ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 60,546 217,689
Prepayments and accrued income 878,839 2,731,929
939,385 2,949,618

Agricultural Commodity Exchange Ltd (Registered number: SC465204)

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

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 1,637,722 2,809,989
Tax 20,119 35,579
VAT 51,150 6,734
Loan from RM & JF Seed (1,027,208 ) -
Accrued expenses 4,500 5,000
686,283 2,857,302