REGISTERED NUMBER: 03945408 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

AGROCHEMEX LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A W Gamblin

SECRETARY:

Mrs L A Gamblin

REGISTERED OFFICE:

Kingfisher House

11 Hoffmanns Way

Chelmsford

Essex

CM1 1GU

BUSINESS ADDRESS:

Blunts Hall

Blunts Hall Road

Witham

Essex

CM8 1LX

REGISTERED NUMBER:

03945408 (England and Wales)

ACCOUNTANTS:

Lucentum Ltd

Kingfisher House

11 Hoffmanns Way

Chelmsford

Essex

CM1 1GU

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

812,689

795,021

812,689

795,021

CURRENT ASSETS

Stocks

12,000

12,000

Debtors

7

490,957

189,356

Cash at bank

483,691

683,600

986,648

884,956

CREDITORS

Amounts falling due within one year

8

324,446

354,327

NET CURRENT ASSETS

662,202

530,629

TOTAL ASSETS LESS CURRENT LIABILITIES

1,474,891

1,325,650

CREDITORS

Amounts falling due after more than one year

9

(645,420

)

(552,931

)

PROVISIONS FOR LIABILITIES

11

(21,974

)

(39,503

)

NET ASSETS

807,497

733,216

CAPITAL AND RESERVES

Called up share capital

12

1,003

1,003

Retained earnings

806,494

732,213

SHAREHOLDERS' FUNDS

807,497

733,216

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 18 June 2018 and were signed by:

A W Gamblin - Director

1.	STATUTORY INFORMATION

AgroChemex Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 30 September 2017 are the first that are prepared in

accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance

with UK GAAP, the date of transition to FRS 102 Section 1A is 1 October 2015.

Significant judgements and estimates

In applying the company's accounting policies, the directors are required to make judgements.

estimates and assumptions in determining the carrying value of assets and liabilities. The directors'

judgements, estimates and assumptions are based on the best and most reliable evidence available at

the time when the decisions are made and are based on historical experience and other factors that

are considered applicable. Due to the inherent sensitivity involved in making judgements, estimates

and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Any revisions to

accounting estimates are recognised prospectively.

Turnover

Turnover represents the net sales of technical testing & analysis work. Revenue is recognised on an

accruals basis.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, was fully

amortised in the year of purchase.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

20% on cost

Motor vehicles

-

25% on cost

Fixtures & equipment

-

33% on cost and 25% on cost

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

The company only enter into basic financial instruments transactions that results in the recognition of

financial assets and liabilities like trade and other accounts receivable and payable, other third party

loans and loans with related parties.

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.

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.

Freehold property

The freehold property is depreciated to its estimated residual value over its useful economic life.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2016

and 30 September 2017

201,704

AMORTISATION

At 1 October 2016

and 30 September 2017

201,704

NET BOOK VALUE

At 30 September 2017

-

At 30 September 2016

-

6.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

Fixtures

property

machinery

vehicles

& equipment

Totals

£

£

£

£

£

COST

At 1 October 2016

543,914

721,460

48,045

93,564

1,406,983

Additions

-

39,887

-

108,585

148,472

At 30 September 2017

543,914

761,347

48,045

202,149

1,555,455

DEPRECIATION

At 1 October 2016

-

500,546

33,695

77,721

611,962

Charge for year

-

109,285

4,200

17,319

130,804

At 30 September 2017

-

609,831

37,895

95,040

742,766

NET BOOK VALUE

At 30 September 2017

543,914

151,516

10,150

107,109

812,689

At 30 September 2016

543,914

220,914

14,350

15,843

795,021

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

378,763

163,676

Other debtors

66,992

11,643

Tax

36,381

-

VAT

-

447

Prepayments and accrued income

8,821

13,590

490,957

189,356

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

16,000

16,000

Trade creditors

183

28,805

Tax

-

36,313

Social security and other taxes

8,166

7,943

VAT

41,452

-

Other creditors

-

21,044

Directors' loan accounts

15,144

72,353

Accrued expenses

243,501

171,869

324,446

354,327

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loan due in 2-5 years

35,620

52,231

Other loans more 5yrs non-inst

609,800

500,700

645,420

552,931

2017

2016

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

609,800

500,700

10.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

51,620

68,231

The company's bank loan is secured by a charge over the freehold property.

11.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

Accelerated capital allowances

21,974

39,503

Deferred

tax

£

Balance at 1 October 2016

39,503

Movement during the year

(17,529

)

Balance at 30 September 2017

21,974

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1,003

Ordinary

£1

1,003

1,003

13.	CAPITAL COMMITMENTS

2017

2016

£

£

Contracted but not provided for in the

financial statements

20,625

-

14.	RELATED PARTY DISCLOSURES

During the period the following transactions occurred with Agrochemex International Ltd a company A

Gamblin has a material interest in:

2017

2016

£

£

Sales

£28,200

£72,000

At the balance sheet date Agrochemex International Ltd owed Agrochemex Ltd £27,700 (2016 £nil).

During the period the following transactions occurred with Agrochemex Environmental Ltd a company

A Gamblin has a material interest in:

2017

2016

£

£

Sales

£124,500

£72,000

Purchases

£104,050

£nil

At the balance sheet date Agrochemex Environmental Ltd owed Agrochemex Ltd £29,317 (was owed

2016 £9,473).

The loan from Lloyds TSB Bank is personally guaranteed by Mr Gamblin, the director.

During the year a loan subsisted between the company and its director Mr A W Gamblin. At the

balance sheet date Mr A W Gamblin was owed £15,144 (2016: £72,353) which is shown within

creditors. No interest was charged on the loan.

15.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr A Gamblin, the director, by virtue of holding the majority of the issued

ordinary share capital.

16.

FRS102

There were no transitional adjustments due to adoption of FRS 102 (1A) during the year.