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REGISTERED NUMBER: 01214914 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

AGRI NORTH LIMITED

AGRI NORTH LIMITED (REGISTERED NUMBER: 01214914)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2


AGRI NORTH LIMITED (REGISTERED NUMBER: 01214914)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investments 4 569,951 -

CURRENT ASSETS
Debtors 5 2,483,208 2,158,099
Cash at bank 2,961 3,219,053
2,486,169 5,377,152
CREDITORS
Amounts falling due within one year 6 2,946,340 3,082,919
NET CURRENT (LIABILITIES)/ASSETS (460,171 ) 2,294,233
TOTAL ASSETS LESS CURRENT
LIABILITIES

109,780

2,294,233

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 109,680 2,294,133
SHAREHOLDERS' FUNDS 109,780 2,294,233

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2025 and were signed on its behalf by:



J E Lea - Director


AGRI NORTH LIMITED (REGISTERED NUMBER: 01214914)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

Agri North Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 01214914 and the company's registered office address is North Western Mills, Gresty Road, Crewe, Cheshire, CW2 6HP.

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.

The financial statements represent the results of the individual entity. The presentation and functional currency is £ sterling.

Preparation of consolidated financial statements
The financial statements contain information about Agri North Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Fixed asset investment impairment is considered on an annual basis by the directors. Where impairment of the investment is identified, the directors account for the estimated impairment loss based on the consideration of discounted cashflows over the estimated life of the investment. The carrying amount of investments is included in note 6.

From a completeness perspective, the directors are not aware of any other critical judgements within the company that give rise to a significant risk of material adjustment within the next financial year.

Turnover
Turnover is the total amount receivable by the company for goods supplied and services provided, excluding VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

Investments in subsidiaries
Investments in subsidiary undertakings are stated at cost less provision for impairment.

AGRI NORTH LIMITED (REGISTERED NUMBER: 01214914)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include trade debtors, other debtors, and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including trade creditors, that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Going concern
Based on future expectations, the directors are confident the company will continue to trade profitably in future periods and generate sufficient cash flows to meet its obligations as they fall due for payment.

3. EMPLOYEES AND DIRECTORS

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

AGRI NORTH LIMITED (REGISTERED NUMBER: 01214914)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 1,250,503
Impairments (680,552 )
At 31 July 2024 569,951
NET BOOK VALUE
At 31 July 2024 569,951

During the year the company purchased 100% of the share capital of Pimhill Farm Limited, a private limited company incorporated in England and Wales. Following the change in the nature of the business from a manufacturing organisation to a sales and marketing organisation the directors have recognised an impairment of the investment.

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Other debtors - 200
Tax - 1,907
Deferred tax asset 3,208 -
Prepayments and accrued income - 6,492
3,208 8,599

Amounts falling due after more than one year:
Other debtors 2,480,000 2,149,500

Aggregate amounts 2,483,208 2,158,099

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 2,749,291 3,041,291
Amounts owed to group undertakings 128,033 -
Social security and other taxes 31,423 -
Accrued expenses 37,593 41,628
2,946,340 3,082,919

Amounts owed to group undertakings are non-interest bearing and repayable on demand.

AGRI NORTH LIMITED (REGISTERED NUMBER: 01214914)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


7. RELATED PARTY DISCLOSURES

During the year the company made dividend payments of £2.2m to directors/shareholders.

During the year the company received dividends of £700k from its subsidiary company.

8. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr J E Lea, a director and shareholder.