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REGISTERED NUMBER: NI624724 (Northern Ireland)













AGRI BUSINESS SOLUTIONS LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






AGRI BUSINESS SOLUTIONS LTD (REGISTERED NUMBER: NI624724)






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




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


AGRI BUSINESS SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: G Gibson
C Gibson



REGISTERED OFFICE: 2 Terryscollop Road
DUNGANNON
Co. Tyrone
BT71 7QQ



REGISTERED NUMBER: NI624724 (Northern Ireland)



ACCOUNTANTS: McAleer Jackson Ltd
Chartered Accountants
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE



BANKERS: Ulster Bank Limited
7 Upper English Street
ARMAGH
BT61 7BL

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
AGRI BUSINESS SOLUTIONS LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.


In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Balance Sheet as at 31 May 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. 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 financial statements.






McAleer Jackson Ltd
Chartered Accountants
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE


28 April 2025

AGRI BUSINESS SOLUTIONS LTD (REGISTERED NUMBER: NI624724)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 265,860 190,926

CURRENT ASSETS
Stocks 80,338 72,588
Debtors 5 215,295 126,151
295,633 198,739
CREDITORS
Amounts falling due within one year 6 377,153 204,246
NET CURRENT LIABILITIES (81,520 ) (5,507 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

184,340

185,419

CREDITORS
Amounts falling due after more than one year 7 (51,884 ) (85,543 )

PROVISIONS FOR LIABILITIES (45,067 ) (36,276 )
NET ASSETS 87,389 63,600

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 87,289 63,500
SHAREHOLDERS' FUNDS 87,389 63,600

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

AGRI BUSINESS SOLUTIONS LTD (REGISTERED NUMBER: NI624724)

BALANCE SHEET - continued
31 MAY 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2025 and were signed on its behalf by:





G Gibson - Director


AGRI BUSINESS SOLUTIONS LTD (REGISTERED NUMBER: NI624724)

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

1. STATUTORY INFORMATION

Agri Business Solutions Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

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 are shown in sterling, which is the functional currency of the company.

Turnover
Turnover represents the sales invoiced excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% straight line
Plant and machinery - 15% straight line
Motor vehicles - 20% straight line

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

AGRI BUSINESS SOLUTIONS LTD (REGISTERED NUMBER: NI624724)

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

2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactional price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and Motor
property property machinery vehicles Totals
£    £    £    £    £   
COST
At 1 June 2023 183,255 - 211,495 20,100 414,850
Additions - 104,241 14,806 - 119,047
At 31 May 2024 183,255 104,241 226,301 20,100 533,897
DEPRECIATION
At 1 June 2023 53,246 - 150,578 20,100 223,924
Charge for year 7,331 20,848 15,934 - 44,113
At 31 May 2024 60,577 20,848 166,512 20,100 268,037
NET BOOK VALUE
At 31 May 2024 122,678 83,393 59,789 - 265,860
At 31 May 2023 130,009 - 60,917 - 190,926

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 124,445 116,818
Other debtors 90,850 9,333
215,295 126,151

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 109,178 69,140
Hire purchase contracts 13,953 13,952
Trade creditors 154,844 54,687
Taxation and social security 80,528 58,687
Other creditors 18,650 7,780
377,153 204,246

AGRI BUSINESS SOLUTIONS LTD (REGISTERED NUMBER: NI624724)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 29,423 48,583
Hire purchase contracts 22,461 36,424
Other creditors - 536
51,884 85,543

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Directors loan - 536

8. SECURED DEBTS

The company's bank overdraft and loans are secured by a fixed and floating charge over all company assets.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
G Gibson and C Gibson
Balance outstanding at start of year - -
Amounts advanced 90,850 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 90,850 -

10. RELATED PARTY DISCLOSURES

At the year end the company had a loan amounting to £90,850 to a member of key management personnel at 31 May 2024. (£536 as at 31.05.2023). There is no repayment date for this loan and interest is not currently being charged. The loan is presented with in creditors: amount falling due more than one year.

At the year end the company had a loan amounting to £15,000 owed to AG Nutritional Services Ltd. This has been repaid after the year end. The loan is presented with in creditors: amount falling due more than one year. Gareth Gibson owns 50% of the share capital in AG Nutritional Services Ltd.