2024-01-012024-12-312024-12-31false12968393BUDGET AGRI EQUIPMENT 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BUDGET AGRI EQUIPMENT LTD

Registered Number
12968393
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

BUDGET AGRI EQUIPMENT LTD
Company Information
for the year from 1 January 2024 to 31 December 2024

Director

HANSON, Edward Thomas, Mr.

Registered Address

Tidds Yard
Chapel Lane
Friskney
PE22 8RX

Registered Number

12968393 (England and Wales)
BUDGET AGRI EQUIPMENT LTD
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets355,58663,218
55,58663,218
Current assets
Stocks4251,550320,250
Debtors229,259182,591
Cash at bank and on hand83,46533,191
564,274536,032
Creditors amounts falling due within one year5(241,763)(241,629)
Net current assets (liabilities)322,511294,403
Total assets less current liabilities378,097357,621
Provisions for liabilities7(10,561)(12,010)
Net assets367,536345,611
Capital and reserves
Called up share capital100100
Profit and loss account367,436345,511
Shareholders' funds367,536345,611
The financial statements were approved and authorised for issue by the Director on 15 May 2025, and are signed on its behalf by:
HANSON, Edward Thomas, Mr.
Director
Registered Company No. 12968393
BUDGET AGRI EQUIPMENT LTD
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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Current 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.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Reducing balance (%)Straight line (years)
Plant and machinery15-
Fixtures and fittings15-
Vehicles25-
Office Equipment-33
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 January 2463,13820,6583,5004887,344
Additions-4,500--4,500
At 31 December 2463,13825,1583,5004891,844
Depreciation and impairment
At 01 January 2417,6785,4299714824,126
Charge for year6,8204,933380-12,133
Other adjustments--(1)-(1)
At 31 December 2424,49810,3621,3504836,258
Net book value
At 31 December 2438,64014,7962,150-55,586
At 31 December 2345,46015,2292,529-63,218
4.Stocks

2024

2023

££
Raw materials and consumables251,550320,250
Total251,550320,250
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables8405,720
Taxation and social security42,76645,067
Other creditors194,698187,234
Accrued liabilities and deferred income3,4593,608
Total241,763241,629
6.Creditors: amounts due after one year
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)10,56112,010
Total10,56112,010