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Registered number: 07172423
AGRI-TECH GLOBAL TECHNOLOGIES LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED
30 JUNE 2016
MAGEE GAMMON
Chartered Accountants
Henwood House
Henwood
Ashford
Kent
TN24 8DH
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AGRI-TECH GLOBAL TECHNOLOGIES LIMITED
REGISTERED NUMBER: 07172423
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ABBREVIATED BALANCE SHEET
AS AT 30 JUNE 2016
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Page 1
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AGRI-TECH GLOBAL TECHNOLOGIES LIMITED
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ABBREVIATED BALANCE SHEET (continued)
AS AT 30 JUNE 2016
The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 30 June 2016 and of its loss for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 13 March 2017.
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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AGRI-TECH GLOBAL TECHNOLOGIES LIMITED
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
1.Accounting policies
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.
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Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
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Intangible fixed assets and amortisation
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Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the Profit and loss account over its estimated economic life.
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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25% straight line on cost
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25% straight line on cost
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Investments held as fixed assets are shown at cost less provision for impairment.
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Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Profit and loss account.
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Page 3
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AGRI-TECH GLOBAL TECHNOLOGIES LIMITED
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
1.Accounting policies (continued)
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Government grants relating to tangible fixed assets are treated as deferred income and released to the Profit and loss account over the expected useful lives of the assets concerned. Other grants are credited to the Profit and loss account as the related expenditure is incurred.
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2.Intangible fixed assets
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At 1 July 2015 and 30 June 2016
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3.Tangible fixed assets
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At 1 July 2015 and 30 June 2016
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Page 4
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AGRI-TECH GLOBAL TECHNOLOGIES LIMITED
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
4.Fixed asset investments
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At 1 July 2015 and 30 June 2016
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At 1 July 2015 and 30 June 2016
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Subsidiary undertakings
The following were subsidiary undertakings of the company:
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Fresh Technologies Developments Limited
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Smart Degradable Americas Ltd
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Class A voting common shares
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Class A voting common shares
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Fresh and Smart Chile Inc
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Class A voting common shares
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5.Creditors:
Amounts falling due after more than one year
Creditors include amounts not wholly repayable within 5 years as follows:
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Repayable other than by instalments
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6.Share capital
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Allotted, called up and fully paid
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100 Ordinary shares of £1 each
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Page 5
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