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REGISTERED NUMBER: 02020706 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 June 2024

for

AGRIHIRE LIMITED

AGRIHIRE LIMITED (Registered number: 02020706)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AGRIHIRE LIMITED

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mr T Hubert
Mrs D R Hubert





SECRETARY: Mrs D R Hubert





REGISTERED OFFICE: Dairy Farm
Somersham Road
Bramford
Ipswich
Suffolk
IP8 4NN





REGISTERED NUMBER: 02020706 (England and Wales)





ACCOUNTANTS: Turner & Ellerby
Chartered Certified Accountants
5 Church Street
Framlingham
Woodbridge
Suffolk
IP13 9BQ

AGRIHIRE LIMITED (Registered number: 02020706)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 18,750 -
Tangible assets 5 788,822 735,232
807,572 735,232

CURRENT ASSETS
Stocks 628,764 820,646
Debtors 6 441,594 271,500
Cash at bank and in hand 65,907 17,667
1,136,265 1,109,813
CREDITORS
Amounts falling due within one year 7 757,414 637,618
NET CURRENT ASSETS 378,851 472,195
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,186,423

1,207,427

CREDITORS
Amounts falling due after more than one
year

8

(117,759

)

(154,898

)

PROVISIONS FOR LIABILITIES 10 (147,798 ) (143,207 )
NET ASSETS 920,866 909,322

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 920,566 909,022
SHAREHOLDERS' FUNDS 920,866 909,322

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

AGRIHIRE LIMITED (Registered number: 02020706)

Balance Sheet - continued
30 June 2024


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 4 March 2025 and were signed on its behalf by:





Mr T Hubert - Director


AGRIHIRE LIMITED (Registered number: 02020706)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

AGRIHIRE 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.

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 2024, is being amortised evenly over its estimated useful life of four 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.
Improvements to property - 15% on cost
Plant and machinery - at varying rates on cost
Fixtures and fittings - 15% on cost

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 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 balance sheet date.


AGRIHIRE LIMITED (Registered number: 02020706)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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.

Grants
Grants received in respect of capital items are recognised in the financial statements over a deferred period in line with the estimated useful economic life of the assets.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 25,000
At 30 June 2024 25,000
AMORTISATION
Charge for year 6,250
At 30 June 2024 6,250
NET BOOK VALUE
At 30 June 2024 18,750

AGRIHIRE LIMITED (Registered number: 02020706)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2023 430,116 1,471,355 57,265 - 1,958,736
Additions 15,706 112,324 5,983 84,000 218,013
Disposals (3,036 ) (8,161 ) - - (11,197 )
At 30 June 2024 442,786 1,575,518 63,248 84,000 2,165,552
DEPRECIATION
At 1 July 2023 267,714 911,525 44,265 - 1,223,504
Charge for year 57,577 86,400 5,986 12,600 162,563
Eliminated on disposal (1,176 ) (8,161 ) - - (9,337 )
At 30 June 2024 324,115 989,764 50,251 12,600 1,376,730
NET BOOK VALUE
At 30 June 2024 118,671 585,754 12,997 71,400 788,822
At 30 June 2023 162,402 559,830 13,000 - 735,232

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2023 323,117 - 323,117
Additions 32,056 84,000 116,056
Transfer to ownership (67,657 ) - (67,657 )
At 30 June 2024 287,516 84,000 371,516
DEPRECIATION
At 1 July 2023 113,553 - 113,553
Charge for year 35,378 12,600 47,978
Transfer to ownership (14,495 ) - (14,495 )
At 30 June 2024 134,436 12,600 147,036
NET BOOK VALUE
At 30 June 2024 153,080 71,400 224,480
At 30 June 2023 209,564 - 209,564

AGRIHIRE LIMITED (Registered number: 02020706)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 355,319 185,449
Directors' current accounts - 18,726
Prepayments 86,275 67,325
441,594 271,500

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 50,000 50,000
Other loans 50,000 50,000
Hire purchase contracts 67,555 64,578
Trade creditors 388,557 302,580
Tax 36,146 49,821
Social security and other taxes 14,916 10,128
VAT 32,175 22,607
Other creditors 2,297 1,634
Directors' current accounts 44 -
Accruals and deferred income 110,500 82,400
Accrued expenses 5,224 3,870
757,414 637,618

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 50,000 50,000
Bank loans - 2-5 years - 50,000
Hire purchase contracts 67,759 54,898
117,759 154,898

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 135,314 119,476

Amounts owing under finance leases and hire purchase contracts are secured on the assets to which they relate.


10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 147,798 143,207

AGRIHIRE LIMITED (Registered number: 02020706)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 July 2023 143,207
Movement in year 4,591
Balance at 30 June 2024 147,798

11. TRANSACTIONS WITH DIRECTORS'

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
Mr T Hubert
Balance outstanding at start of year 18,726 -
Amounts advanced - 19,536
Amounts repaid (18,726 ) (810 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 18,726