5 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 09102590 2023-07-01 2024-06-30 09102590 2024-06-30 09102590 2023-06-30 09102590 2022-07-01 2023-06-30 09102590 2023-06-30 09102590 2022-06-30 09102590 core:PlantMachinery 2023-07-01 2024-06-30 09102590 bus:LeadAgentIfApplicable 2023-07-01 2024-06-30 09102590 bus:Director4 2023-07-01 2024-06-30 09102590 core:PlantMachinery 2023-06-30 09102590 core:PlantMachinery 2024-06-30 09102590 core:WithinOneYear 2024-06-30 09102590 core:WithinOneYear 2023-06-30 09102590 core:AfterOneYear 2024-06-30 09102590 core:AfterOneYear 2023-06-30 09102590 core:ShareCapital 2024-06-30 09102590 core:ShareCapital 2023-06-30 09102590 core:RetainedEarningsAccumulatedLosses 2024-06-30 09102590 core:RetainedEarningsAccumulatedLosses 2023-06-30 09102590 core:PlantMachinery 2023-06-30 09102590 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2024-06-30 09102590 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2023-06-30 09102590 bus:Director1 2023-07-01 2024-06-30 09102590 bus:SmallEntities 2023-07-01 2024-06-30 09102590 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 09102590 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 09102590 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 09102590 bus:FullAccounts 2023-07-01 2024-06-30 09102590 core:OfficeEquipment 2023-07-01 2024-06-30 09102590 core:OfficeEquipment 2023-06-30
COMPANY REGISTRATION NUMBER: 09102590
Agriculture Limited
Filleted Unaudited Financial Statements
30 June 2024
Agriculture Limited
Financial Statements
Year ended 30 June 2024
Contents
Pages
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 7
Agriculture Limited
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Agriculture Limited
Year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Agriculture Limited for the year ended 30 June 2024, which comprise the statement of financial position 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 www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Agriculture Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Agriculture Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Agriculture Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Agriculture 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 Agriculture Limited. You consider that Agriculture 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 Agriculture 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.
HEBBLETHWAITES Chartered Accountants
2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ
26 March 2025
Agriculture Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
74,869
73,145
Current assets
Stocks
176,050
157,475
Debtors
6
27,176
38,602
Cash at bank and in hand
65,916
96,437
---------
---------
269,142
292,514
Creditors: amounts falling due within one year
7
100,096
111,085
---------
---------
Net current assets
169,046
181,429
---------
---------
Total assets less current liabilities
243,915
254,574
Creditors: amounts falling due after more than one year
8
91,005
107,683
Provisions
Taxation including deferred tax
14,225
13,898
---------
---------
Net assets
138,685
132,993
---------
---------
Agriculture Limited
Statement of Financial Position (continued)
30 June 2024
2024
2023
Note
£
£
Capital and reserves
Called up share capital
10,003
10,003
Profit and loss account
128,682
122,990
---------
---------
Shareholders funds
138,685
132,993
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 25 March 2025 , and are signed on behalf of the board by:
Mr T J Atkinson
Director
Company registration number: 09102590
Agriculture Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Deer Park Annex, Long Causeway, Thirsk, YO7 2AS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the opinion of management, there are no areas of judgement or key sources of estimation uncertainty that have a significant effect on the financial statements, other than those highlighted below.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% reducing balance
Equipment
-
33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 5 ).
5. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 July 2023
136,767
2,937
139,704
Additions
27,995
27,995
Disposals
( 10,900)
( 2,937)
( 13,837)
---------
-------
---------
At 30 June 2024
153,862
153,862
---------
-------
---------
Depreciation
At 1 July 2023
63,622
2,937
66,559
Charge for the year
19,796
19,796
Disposals
( 4,425)
( 2,937)
( 7,362)
---------
-------
---------
At 30 June 2024
78,993
78,993
---------
-------
---------
Carrying amount
At 30 June 2024
74,869
74,869
---------
-------
---------
At 30 June 2023
73,145
73,145
---------
-------
---------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Plant and machinery
£
At 30 June 2024
21,600
--------
At 30 June 2023
12,000
--------
6. Debtors
2024
2023
£
£
Trade debtors
23,734
35,827
Other debtors
3,442
2,775
--------
--------
27,176
38,602
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,066
32,825
Corporation tax
1,117
11,021
Social security and other taxes
22,603
19,859
Other creditors
75,310
47,380
---------
---------
100,096
111,085
---------
---------
Included within other creditors are loans and other financing arrangements amounting to £29,825 (2023: £17,897) which are secured against the assets of the company.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
91,005
107,683
--------
---------
Included within other creditors are loans and other financing arrangements amounting to £91,005 (2023: £107,683) which are secured against the assets of the company.