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KM Agricultural Spares Limited
Registered Number:02435258
For the year ended 31 March 2025
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2025
KM Agricultural Spares Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
02435258
As at 31 March 2025
KM Agricultural Spares Limited
Statement of Financial Position
£
£
2024
2025
Notes
Fixed assets
Property, plant and equipment
9,213
12,127
2
9,213
12,127
Current assets
Inventories
127,500
120,000
3
Trade and other receivables
142,784
116,977
4
92,744
Cash and cash equivalents
103,131
340,108
363,028
Trade and other payables: amounts falling due within one year
(230,272)
(257,589)
5
132,756
82,519
Net current assets
Total assets less current liabilities
91,732
144,883
Trade and other payables: amounts falling due after more than one
year
(40,984)
(27,315)
6
-
10,964
Provisions for liabilities
64,417
Net assets
114,863
Capital and reserves
Called up share capital
1,000
1,000
Share premium account
19,800
19,800
Retained earnings
43,617
94,063
64,417
114,863
Shareholders' funds
For the year ended 31 March 2025 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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4
Registered Number :
02435258
For the year ended 31 March 2025
KM Agricultural Spares Limited
Statement of Financial Position Continued
Mr Mike Kilminster Director
These financial statements were approved and authorised for issue by the Board on 28 May 2025 and were signed by:
The notes form part of these financial statements
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5
For the year ended 31 March 2025
KM Agricultural Spares Limited
Notes to the Financial Statements
Statutory Information
KM Agricultural Spares Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 02435258.
Registered address:
Unit B and C
Bumpers Farm Industrial Est
Chippenham
Wiltshire
SN14 6LH
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act
2006. The financial statements have been prepared under the historical costs convention as modified by the revaluation
of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
20% Reducing balance
25% Reducing balance
Motor vehicles
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to sell.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Hire purchase and leasing commitments
Property, plant and equipment acquired under finance leases or hire purchase agreements are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges are included in creditors. Rentals payable under operating leases are charged to the profit and loss account 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 for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
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6
For the year ended 31 March 2025
KM Agricultural Spares Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Motor vehicles
Plant and
machinery
£
£
£
Cost or valuation
At 01 April 2024
70,396
26,549
43,847
At 31 March 2025
43,847
26,549
70,396
Provision for depreciation and impairment
At 01 April 2024
58,269
16,786
41,483
Charge for year
2,914
2,441
473
At 31 March 2025
61,183
19,227
41,956
At 31 March 2025
Net book value
1,891
7,322
9,213
At 31 March 2024
2,364
9,763
12,127
3. Inventories
2024
2025
£
£
Stocks
120,000
127,500
4. Trade and other receivables
2024
2025
£
£
Trade debtors
96,366
129,456
Other debtors
20,611
13,328
142,784
116,977
5. Trade and other payables: amounts falling due within one year
2024
2025
£
£
Bank loans and overdraft
5,555
5,555
Trade creditors
60,000
72,964
Taxation and social security
15,415
16,422
Other creditors
176,619
135,331
257,589
230,272
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7
For the year ended 31 March 2025
KM Agricultural Spares Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year
2024
2025
£
£
Bank loans and overdraft
27,315
32,871
Other creditors
-
8,113
27,315
40,984
7. Guarantees and other financial commitments
Lease commitments
At 31 March 2025 the company had annual commitments under non-cancellable operating leases as set out below:
2024
£
2025
£
Operating leases which expire:
32,150
35,382
Within 2 to 5 years
35,382
32,150
8. Average number of persons employed
During the year the average number of employees was 9 (2024 : 10)
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