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Company Registration No. NI029203 (Northern Ireland)
Agway Food Products (NI) Limited Unaudited accounts for the year ended 31 December 2017
Agway Food Products (NI) Limited Unaudited accounts Contents
Page
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Agway Food Products (NI) Limited Company Information for the year ended 31 December 2017
Directors
Mr Gerry Braiden Mrs Carol Braiden
Secretary
Mrs Carol Braiden
Company Number
NI029203 (Northern Ireland)
Registered Office
W F Lemon & Co Ltd 76 Main Street Lisnaskea Co Fermanagh BT92 0JD
Accountants
W F Lemon & Co Ltd 76 Main Street Lisnaskea Co Fermanagh BT92 0JD
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Agway Food Products (NI) Limited Accountants' report
Accountants' report to the board of directors of Agway Food Products (NI) Limited on the preparation of the unaudited statutory accounts for the year ended 31 December 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Agway Food Products (NI) Limited for the year ended 31 December 2017 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Agway Food Products (NI) Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Agway Food Products (NI) Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Agway Food Products (NI) Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Agway Food Products (NI) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Agway Food Products (NI) Limited. You consider that Agway Food Products (NI) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Agway Food Products (NI) Limited. 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 statutory accounts.
W F Lemon & Co Ltd 76 Main Street Lisnaskea Co Fermanagh BT92 0JD 27 April 2018
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Agway Food Products (NI) Limited Statement of financial position as at 31 December 2017
2017 
2016 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,899 
1,026 
Current assets
Debtors
64,141 
110,294 
Cash at bank and in hand
203,235 
299,168 
267,376 
409,462 
Creditors: amounts falling due within one year
2,852 
(65,996)
Net current assets
270,228 
343,466 
Net assets
273,127 
344,492 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
273,027 
344,392 
Shareholders' funds
273,127 
344,492 
For the year ending 31 December 2017 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 27 April 2018.
Mr Gerry Braiden Director Company Registration No. NI029203
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Agway Food Products (NI) Limited Notes to the Accounts for the year ended 31 December 2017
1
Statutory information
Agway Food Products (NI) Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI029203. The registered office is W F Lemon & Co Ltd, 76 Main Street, Lisnaskea, Co Fermanagh, BT92 0JD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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.
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.
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Agway Food Products (NI) Limited Notes to the Accounts for the year ended 31 December 2017
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 January 2017
8,621 
Additions
2,982 
At 31 December 2017
11,603 
Depreciation
At 1 January 2017
7,595 
Charge for the year
1,109 
At 31 December 2017
8,704 
Net book value
At 31 December 2017
2,899 
At 31 December 2016
1,026 
5
Debtors
2017 
2016 
£ 
£ 
Trade debtors
- 
46,722 
Other debtors
64,141 
63,572 
64,141 
110,294 
6
Creditors: amounts falling due within one year
2017 
2016 
£ 
£ 
Bank loans and overdrafts
1,033 
68 
Trade creditors
- 
55,989 
Taxes and social security
(5,385)
7,407 
Other creditors
1,500 
2,532 
(2,852)
65,996 
7
Share capital
2017 
2016 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Average number of employees
During the year the average number of employees was 2 (2016: 2).
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