REGISTERED NUMBER: 04431201 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2017

for

Agrimec Sales & Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

J Breeds

REGISTERED OFFICE:

Lakeview House

4 Woodbrook Crescent

Billericay

Essex

CM12 0EQ

REGISTERED NUMBER:

04431201 (England and Wales)

ACCOUNTANTS:

Mudd Partners LLP

Chartered Accountants

Lakeview House

4 Woodbrook Crescent

Billericay

Essex

CM12 0EQ

FIXED ASSETS

Tangible assets

4

8,267

10,883

CURRENT ASSETS

Stocks

304,750

350,000

Debtors

5

21,273

6,973

Cash in hand

2,000

2,000

328,023

358,973

CREDITORS

Amounts falling due within one year

6

351,005

384,725

NET CURRENT LIABILITIES

(22,982

)

(25,752

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(14,715

)

(14,869

)

CREDITORS

Amounts falling due after more than one year

7

-

11,259

NET LIABILITIES

(14,715

)

(26,128

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

(14,815

)

(26,228

)

SHAREHOLDERS' FUNDS

(14,715

)

(26,128

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 5 April 2018 and were signed by:

J Breeds - Director

1.	STATUTORY INFORMATION

Agrimec Sales & Services Limited is a private company, limited by shares , registered in England and Wales.

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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the value of sales to customers, net of discounts, allowances, volume and promotional

rebates and other payments to customers and excludes VAT.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% straight line and 25% on reducing balance

Stocks

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

moving items.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently,

they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement

constitutes a finance transaction it is measured at present value.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2016 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2016

21,924

Additions

955

At 31 May 2017

22,879

DEPRECIATION

At 1 June 2016

11,041

Charge for year

3,571

At 31 May 2017

14,612

NET BOOK VALUE

At 31 May 2017

8,267

At 31 May 2016

10,883

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Trade debtors

13,985

1,861

Other debtors

7,288

5,112

21,273

6,973

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Bank loans and overdrafts

41,720

33,172

Trade creditors

2,528

16,225

Taxation and social security

6,601

7,590

Other creditors

300,156

327,738

351,005

384,725

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.17

31.5.16

£

£

Bank loans

-

11,259

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.17

31.5.16

£

£

Bank loans

-

15,685

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.17

31.5.16

value:

£

£

100

Ordinary

£1

100

100

The following reproduces the text of the report prepared for the director 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 Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Agrimec Sales & Services Limited for the year ended 31 May 2017 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Agrimec Sales & Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Agrimec Sales & Services Limited and state those matters that we have agreed to state to the director of Agrimec Sales & Services Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Agrimec Sales & Services Limited and its director for our work or for this report.

It is your duty to ensure that Agrimec Sales & Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Agrimec Sales & Services Limited. You consider that Agrimec Sales & Services 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 financial statements of Agrimec Sales & Services 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 financial statements.

Mudd Partners LLP

Chartered Accountants

Lakeview House

4 Woodbrook Crescent

Billericay

Essex

CM12 0EQ

5 April 2018