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Company Registration No. NI029203 (Northern Ireland)
AGWAY FOOD PRODUCTS (NI) LIMITED Abbreviated unaudited accounts for the year ended 31 December 2015
AGWAY FOOD PRODUCTS (NI) LIMITED Abbreviated Balance Sheet as at 31 December 2015
2015 
2014 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,076 
3,381 
Current assets
Debtors
64,759 
116,227 
Cash at bank and in hand
273,995 
433,911 
338,754 
550,138 
Creditors: amounts falling due within one year
(3,253)
(144,803)
Net current assets
335,501 
405,335 
Net assets
337,577 
408,716 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
337,477 
408,616 
Total shareholders' funds
337,577 
408,716 
For the year ending 31 December 2015 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Approved by the board on 7 March 2016
Mr Gerry Braiden Director Company Registration No. NI029203
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AGWAY FOOD PRODUCTS (NI) LIMITED Notes to the Abbreviated Accounts for the year ended 31 December 2015
1
Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Cash flow
The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirement to prepare such a statement under the Financial Reporting Standard for Smaller Entities (effective April 2008).
Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Straight Line
Fixtures & fittings
20% Straight LIne
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
2
Tangible fixed assets
Fixtures & fittings 
£ 
Cost
At 1 January 2015
8,621 
At 31 December 2015
8,621 
Depreciation
At 1 January 2015
5,240 
Charge for the year
1,305 
At 31 December 2015
6,545 
Net book value
At 31 December 2015
2,076 
At 31 December 2014
3,381 
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AGWAY FOOD PRODUCTS (NI) LIMITED Notes to the Abbreviated Accounts for the year ended 31 December 2015
3
Share capital
2015 
2014 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
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