Registered Number 06017181

AGRITEC UK LIMITED

Abbreviated Accounts

31 December 2015

AGRITEC UK LIMITED Registered Number 06017181

Abbreviated Balance Sheet as at 31 December 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 85,221 95,668
85,221 95,668
Current assets
Stocks 155,165 99,837
Debtors 189,597 136,805
Cash at bank and in hand 564 7,306
345,326 243,948
Creditors: amounts falling due within one year (439,658) (310,229)
Net current assets (liabilities) (94,332) (66,281)
Total assets less current liabilities (9,111) 29,387
Creditors: amounts falling due after more than one year (4,105) (7,884)
Provisions for liabilities (15,446) (15,359)
Total net assets (liabilities) (28,662) 6,144
Capital and reserves
Called up share capital 76 76
Profit and loss account (28,738) 6,068
Shareholders' funds (28,662) 6,144
  • For the year ending 31 December 2015 the company was entitled to exemption 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.

Approved by the Board on 21 September 2016

And signed on their behalf by:
Tim Manning, Director

AGRITEC UK LIMITED Registered Number 06017181

Notes to the Abbreviated Accounts for the period ended 31 December 2015

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its xpected useful life, as follows:

Plant and machinery - 25% straight line
Fixtures, fittings
and equipment - 25% straight line
Motor vehicles - 25% straight line

Other accounting policies
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in 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 constant periodic rates of charge on the net obligations outstanding in each period.
Stock and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions: Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.

2Tangible fixed assets
£
Cost
At 1 January 2015 153,343
Additions 4,566
Disposals -
Revaluations -
Transfers -
At 31 December 2015 157,909
Depreciation
At 1 January 2015 57,675
Charge for the year 15,013
On disposals -
At 31 December 2015 72,688
Net book values
At 31 December 2015 85,221
At 31 December 2014 95,668