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Registration number: 05764087

Agrumi Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 June 2024

 

Agrumi Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 10

 

Agrumi Limited

Company Information

Director

Mr SDO Jackson

Company secretary

Mrs EL Jackson

Registered office

Meadow Farm
Sway Road
Tiptoe
Lymington
Hampshire
SO41 6FR

Accountants

Pyatt & Pyatt
Chartered Certified Accountants36 St Thomas Street
Lymington
Hampshire
SO41 9NE

 

Agrumi Limited

(Registration number: 05764087)
Abridged Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

102,219

133,914

Other financial assets

5

50

50

 

102,269

133,964

Current assets

 

Stocks

6

1,266

498

Debtors

9,784

21,535

Cash at bank and in hand

 

34,245

11,943

 

45,295

33,976

Prepayments and accrued income

 

1,491

6,951

Creditors: Amounts falling due within one year

(105,747)

(78,664)

Net current liabilities

 

(58,961)

(37,737)

Total assets less current liabilities

 

43,308

96,227

Creditors: Amounts falling due after more than one year

(100,000)

(100,000)

Accruals and deferred income

 

(1,250)

(2,900)

Net liabilities

 

(57,942)

(6,673)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(58,042)

(6,773)

Shareholders' deficit

 

(57,942)

(6,673)

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Agrumi Limited

(Registration number: 05764087)
Abridged Balance Sheet as at 30 June 2024

Approved and authorised by the director on 28 March 2025
 

.........................................
Mr SDO Jackson
Director

 

Agrumi Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Meadow Farm
Sway Road
Tiptoe
Lymington
Hampshire
SO41 6FR

These financial statements were authorised for issue by the director on 28 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Agrumi Limited

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

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Agrumi Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Agrumi Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 1).

 

Agrumi Limited

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

4

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 July 2023

379,487

2,395

49,907

5,148

436,937

Additions

5,805

-

5,315

-

11,120

At 30 June 2024

385,292

2,395

55,222

5,148

448,057

Depreciation

At 1 July 2023

258,075

726

39,074

5,148

303,023

Charge for the year

38,528

250

4,037

-

42,815

At 30 June 2024

296,603

976

43,111

5,148

345,838

Carrying amount

At 30 June 2024

88,689

1,419

12,111

-

102,219

At 30 June 2023

121,412

1,669

10,833

-

133,914

Included within the net book value of land and buildings above is £88,689 (2023 - £121,412) in respect of long leasehold land and buildings.
 

 

Agrumi Limited

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

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 July 2023

50

50

At 30 June 2024

50

50

Impairment

Carrying amount

At 30 June 2024

50

50

6

Stocks

2024
£

2023
£

Other inventories

1,266

498

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       
 

Agrumi Limited

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

8

Related party transactions

Transactions with the director

2024

At 1 July 2023
£

Other payments made to company by director
£

At 30 June 2024
£

Mr SDO Jackson

Loans from Mr SDO Jackson and his family

(163,544)

(23,190)

(186,734)

2023

At 1 July 2022
£

Other payments made to company by director
£

At 30 June 2023
£

Mr SDO Jackson

Loans from Mr SDO Jackson and his family

(133,402)

(30,142)

(163,544)

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

8,400

3,600

Contributions paid to money purchase schemes

7,000

3,000

15,400

6,600