Agrifresh Ltd - Filleted accounts

Agrifresh Ltd
Registered number:		03899028
Balance Sheet
as at 31 July 2016

Notes			2016			2015
£				£
Current assets
Debtors	2	144,294			127,092
Cash at bank and in hand		814			349
		145,108			127,441

Creditors: amounts falling due within one year	3	(8,994)			(11,301)

Net current assets			136,114			116,140

Net assets			136,114			116,140

Capital and reserves
Called up share capital			100			100
Profit and loss account			136,014			116,040

Shareholders' funds			136,114			116,140

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Pradeep Sanghvi
Director
Approved by the board on 18 April 2017

Agrifresh Ltd
Notes to the Accounts
for the year ended 31 July 2016


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.


2	Debtors	2016		2015
£			£

	Trade debtors	139,221		127,092
	Deposits & Other debtors	5,073		-
		144,294		127,092


3	Creditors: amounts falling due within one year	2016		2015
£			£

	Trade creditors	4,000		-
	Associated Companies	-		10,527
	Corporation tax	4,994		774
		8,994		11,301


4	Other information

	Agrifresh Ltd is a private company limited by shares and incorporated in England. Its registered office is: