Agrikit Limited

Contents
	Page
Balance Sheet	1—2
Statement of Changes in Equity	3
Notes to the Financial Statements	4—8

Registered number: 03713344

		2017		2016
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	6		15,624		8,822

			15,624		8,822
CURRENT ASSETS
Stocks	7	24,000		1,000
Debtors	8	39,596		23,345

		63,596		24,345
Creditors: Amounts Falling Due Within One Year	9	(73,161 )		(52,184 )

NET CURRENT ASSETS (LIABILITIES)			(9,565 )		(27,839 )

TOTAL ASSETS LESS CURRENT LIABILITIES			6,059		(19,017 )

Creditors: Amounts Falling Due After More Than One Year	10		(2,833 )		-

PROVISIONS FOR LIABILITIES
Deferred Taxation	12		(2,252 )		(892 )

NET ASSETS			974		(19,909 )

CAPITAL AND RESERVES
Called up share capital	13		2		2
Profit and loss account			972		(19,911 )

SHAREHOLDERS' FUNDS			974		(19,909)

Page 1

Agrikit Limited

Balance Sheet (continued)

As at 31 March 2017

For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The Company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the Profit and Loss Account

On behalf of the board

Mr John Walton

29/08/2017

	Share Capital	Profit & Loss Account	Total
	£	£	£
As at 1 April 2015	2	(10,315 )	(10,313)
Loss for the year and total comprehensive income	-	(9,596 )	(9,596)

As at 31 March 2016 and 1 April 2016	2	(19,911 )	(19,909)


Profit for the year and total comprehensive income	-	20,883	20,883

As at 31 March 2017	2	972	974

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

1.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

1.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.

1.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	0% depreciation
Plant & Machinery	25% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	25% reducing balance
Computer Equipment	25% reducing balance

1.5. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

1.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

1.7. Deferred Taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.

1.8. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.

Page 4

Agrikit Limited

Notes to the Unaudited Accounts (continued)

For The Year Ended 31 March 2017

5. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2016	30,703

As at 31 March 2017	30,703

Amortisation
As at 1 April 2016	30,703

As at 31 March 2017	30,703

Net Book Value
As at 31 March 2017	-

As at 1 April 2016	-

Page 5

Agrikit Limited

Notes to the Unaudited Accounts (continued)

For The Year Ended 31 March 2017

6. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 April 2016	4,363	7,240	5,000	5,859
Additions	-	2,000	8,500	-

As at 31 March 2017	4,363	9,240	13,500	5,859

Depreciation
As at 1 April 2016	-	6,948	833	5,859
Provided during the period	-	323	3,375	-

As at 31 March 2017	-	7,271	4,208	5,859

Net Book Value
As at 31 March 2017	4,363	1,969	9,292	-

As at 1 April 2016	4,363	292	4,167	-


	Computer Equipment	Total
	£	£
Cost
As at 1 April 2016	4,643	27,105
Additions	-	10,500

As at 31 March 2017	4,643	37,605

Depreciation
As at 1 April 2016	4,643	18,283
Provided during the period	-	3,698

As at 31 March 2017	4,643	21,981

Net Book Value
As at 31 March 2017	-	15,624

As at 1 April 2016	-	8,822

7. Stocks

	2017	2016
	£	£
Stock - materials and work in progress	24,000	1,000

	24,000	1,000

Page 6

Agrikit Limited

Notes to the Unaudited Accounts (continued)

For The Year Ended 31 March 2017

8. Debtors

	2017	2016
	£	£
Due within one year
Trade debtors	38,552	21,645
Prepayments and accrued income	1,044	1,700

	39,596	23,345

9. Creditors: Amounts Falling Due Within One Year

	2017	2016
	£	£
Net obligations under finance lease and hire purchase contracts	2,833	-
Trade creditors	10,859	12,154
Bank loans and overdrafts	12,229	4,215
Corporation tax	(1,344 )	(1,344 )
Other taxes and social security	1,424	393
VAT	6,584	2,812
Other creditors	3,065	11,946
Accruals and deferred income	966	966
Directors' loan accounts	36,545	21,042

	73,161	52,184

10. Creditors: Amounts Falling Due After More Than One Year

	2017	2016
	£	£
Net obligations under finance lease and hire purchase contracts	2,833	-

11. Obligations Under Finance Leases and Hire Purchase

	2017	2016
	£	£
The maturity of these amounts is as follows:
Amounts Payable:
Within one year	2,833	-
Between one and five years	2,833	-

	5,666	-

	5,666	-

Page 7

Agrikit Limited

Notes to the Unaudited Accounts (continued)

For The Year Ended 31 March 2017

12. Deferred Taxation

	2017	2016
	£	£
As at 1 April 2016	892	165
Deferred taxation	1,360	727


Deferred tax	2,252	892

The provision for deferred taxation is made up of accelerated capital allowances

13. Share Capital

	Value	Number	2017	2016
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.000	2	2	2

14. General Information

Agrikit Limited Registered number 03713344 is a limited by shares company incorporated in England & Wales. The Registered Office is Raby Cottage, Raby Lane, East Cowton, Northallerton, DL7 0JN.