REGISTERED NUMBER: 04671688 (England and Wales)

Financial Statements for the Year Ended 31 December 2016

for

Agritec International Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Gresty

M Gresty

SECRETARY:

M Gresty

REGISTERED OFFICE:

Suites 5 & 6 The Printworks

Hey Road

Barrow

Clitheroe

Lancashire

BB7 9WB

REGISTERED NUMBER:

04671688 (England and Wales)

ACCOUNTANTS:

Towers & Gornall

Chartered Certified Accountants

Suites 5 & 6 The Printworks

Hey Road

Barrow

Clitheroe

Lancashire

BB7 9WB

FIXED ASSETS

Tangible assets

4

100,316

88,716

CURRENT ASSETS

Stocks

122,636

46,000

Debtors

5

217,398

224,737

Cash at bank

779,945

420,297

1,119,979

691,034

CREDITORS

Amounts falling due within one year

6

318,986

140,503

NET CURRENT ASSETS

800,993

550,531

TOTAL ASSETS LESS CURRENT LIABILITIES

901,309

639,247

PROVISIONS FOR LIABILITIES

7

7,200

5,520

NET ASSETS

894,109

633,727

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

894,009

633,627

SHAREHOLDERS' FUNDS

894,109

633,727

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 27 September 2017 and were signed on its behalf by:

P Gresty - Director

1.	STATUTORY INFORMATION

Agritec International 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.

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 is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Agricultural building

-

4% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

30% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after

making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and

handling costs in bringing stocks to their present location and condition.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of

exchange ruling at the balance sheet date. Transactions in foreign currencies are translated

into sterling at the rate of exchange ruling at the date of transaction. Exchange differences

are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2015 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Agricultural

Plant and

and

building

machinery

fittings

£

£

£

COST

At 1 January 2016

67,332

51,798

-

Additions

6,500

5,870

1,959

At 31 December 2016

73,832

57,668

1,959

DEPRECIATION

At 1 January 2016

8,079

26,481

-

Charge for year

2,953

4,680

392

At 31 December 2016

11,032

31,161

392

NET BOOK VALUE

At 31 December 2016

62,800

26,507

1,567

At 31 December 2015

59,253

25,317

-

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2016

-

14,196

133,326

Additions

5,000

3,209

22,538

At 31 December 2016

5,000

17,405

155,864

DEPRECIATION

At 1 January 2016

-

10,050

44,610

Charge for year

1,250

1,663

10,938

At 31 December 2016

1,250

11,713

55,548

NET BOOK VALUE

At 31 December 2016

3,750

5,692

100,316

At 31 December 2015

-

4,146

88,716

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

216,472

224,139

Prepayments

926

598

217,398

224,737

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade creditors

193,638

75,931

Corporation tax

89,692

40,171

Social security and other taxes

1,184

610

VAT

20,580

16,283

Directors' current accounts

6,813

448

Accrued expenses

7,079

7,060

318,986

140,503

7.	PROVISIONS FOR LIABILITIES

31.12.16

31.12.15

£

£

Deferred tax

7,200

5,520

Deferred

tax

£

Balance at 1 January 2016

5,520

Charge to Income Statement during year

1,680

Balance at 31 December 2016

7,200

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.16

31.12.15

value:

£

£

100

Ordinary

£1

100

100

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £100,000 (2015 - £171,000) were paid to the directors .

10.	ULTIMATE CONTROLLING PARTY