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Agrex Limited

Registered Number
07500049
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

Agrex Limited
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

G Cocking
L D Cocking
E A Coultan
T H Coultan
N Mudrachenko
G Mullen
M Smith

Registered Address

21a Newland
Lincoln
LN1 1XP

Place of Business

Red Barn Offices

Langworth Road

Scothern

Lincolnshire

LN2 2UP


Registered Number

07500049 (England and Wales)
Agrex Limited
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,303,4731,441,481
1,303,4731,441,481
Current assets
Stocks4217,625194,615
Debtors51,233,7401,296,464
Cash at bank and on hand81,8782,865
1,533,2431,493,944
Creditors amounts falling due within one year6(2,012,625)(1,950,071)
Net current assets (liabilities)(479,382)(456,127)
Total assets less current liabilities824,091985,354
Creditors amounts falling due after one year7(392,341)(632,267)
Provisions for liabilities9(215,282)(170,984)
Net assets216,468182,103
Capital and reserves
Called up share capital15,00015,000
Share premium4,8704,870
Profit and loss account196,598162,233
Shareholders' funds216,468182,103
The financial statements were approved and authorised for issue by the Board of Directors on 7 May 2025, and are signed on its behalf by:
L D Cocking
Director
T H Coultan
Director

Registered Company No. 07500049
Agrex Limited
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery10
Vehicles15
Office Equipment15
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year7681
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 January 241,644,750822,56723,8792,491,196
Additions46,387103,562916150,865
Disposals-(159,565)(539)(160,104)
At 31 December 241,691,137766,56424,2562,481,957
Depreciation and impairment
At 01 January 24746,795297,7075,2131,049,715
Charge for year93,32877,2932,881173,502
On disposals-(44,583)(150)(44,733)
At 31 December 24840,123330,4177,9441,178,484
Net book value
At 31 December 24851,014436,14716,3121,303,473
At 31 December 23897,955524,86018,6661,441,481
4.Stocks

2024

2023

££
Other stocks217,625194,615
Total217,625194,615
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables1,213,8111,185,730
Other debtors4,80125,682
Prepayments and accrued income15,12885,052
Total1,233,7401,296,464
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables344,300328,220
Bank borrowings and overdrafts1,133,8901,034,987
Taxation and social security229,543256,000
Finance lease and HP contracts255,790260,398
Other creditors19,25720,459
Accrued liabilities and deferred income29,84550,007
Total2,012,6251,950,071
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. The finance lease liabilities are secured on the assets to which they relate. The bank borrowings and overdrafts are also secured creditors.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts5,83315,833
Amounts owed to related parties242,549239,302
Other creditors143,959377,132
Total392,341632,267
The other creditors are finance lease liabilities which are secured on the assets to which they relate. The bank borrowings and overdrafts are also secured creditors.
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts143,959377,131
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)215,282170,984
Total215,282170,984
10.Related party transactions
A loan account exists between the company and its holding company. At the period end date, the balance due to Agrex Holdings Limited was £242,549 (2023 - £239,302)