Company Registration No. 03005461 (England and Wales)
AGRICULTURAL SUPPLY SERVICES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
AGRICULTURAL SUPPLY SERVICES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
AGRICULTURAL SUPPLY SERVICES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2016
30 September 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
7,200
7,200
Tangible assets
2
15,400
18,192
22,600
25,392
Current assets
Stocks
82,248
83,237
Debtors
62,132
81,124
Cash at bank and in hand
618
1,062
144,998
165,423
Creditors: amounts falling due within one year
(155,846)
(173,919)
Net current liabilities
(10,848)
(8,496)
Total assets less current liabilities
11,752
16,896
11,752
16,896
Capital and reserves
Called up share capital
3
10,000
10,000
Profit and loss account
1,752
6,896
Shareholders'  funds
11,752
16,896
For the financial year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 22 June 2017
Mr P E Bowes
Director
Company Registration No. 03005461
AGRICULTURAL SUPPLY SERVICES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 2 -
1
Accounting policies
1.1
Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 years. of 10 years.

1.5
Franchises

Franchises are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives.

1.6
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 less estimated residual value of each asset over its expected useful life, as follows:
Improvements
10% on cost
Plant and machinery
20% reducing balance
Computer equipment
20% reducing balance
Motor vehicles
20% reducing balance
1.7
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 a constant periodic rate of charge on the net obligation outstanding in each period.
1.8
Stock
Stock is valued at the lower of cost and net realisable value.
1.9
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.  The deferred tax balance has not been discounted.
AGRICULTURAL SUPPLY SERVICES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 October 2015
15,330
72,399
87,729
Additions
-
970
970
At 30 September 2016
15,330
73,369
88,699
Depreciation
At 1 October 2015
8,130
54,207
62,337
Charge for the year
-
3,762
3,762
At 30 September 2016
8,130
57,969
66,099
Net book value
At 30 September 2016
7,200
15,400
22,600
At 30 September 2015
7,200
18,192
25,392
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100,000 Ordinary shares of 10p each
10,000
10,000
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