REGISTERED NUMBER: 06878753 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

AGRI PLANT SOLUTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M J Sutton

Mrs H Sutton

SECRETARY:

Mrs H Sutton

REGISTERED OFFICE:

Manor Court Chambers

Townsend Drive

Nuneaton

Warwickshire

CV11 6RU

REGISTERED NUMBER:

06878753 (England and Wales)

ACCOUNTANTS:

SFB Group Limited

Chartered Accountants

Manor Court Chambers

Townsend Drive

Nuneaton

Warwickshire

CV11 6RU

FIXED ASSETS

Tangible assets

4

839,426

826,558

CURRENT ASSETS

Stocks

5

31,000

46,000

Debtors

6

46,375

109,101

Cash at bank

147,518

7,648

224,893

162,749

CREDITORS

Amounts falling due within one year

7

224,869

168,187

NET CURRENT ASSETS/(LIABILITIES)

24

(5,438

)

TOTAL ASSETS LESS CURRENT LIABILITIES

839,450

821,120

CREDITORS

Amounts falling due after more than one year

8

(729,264

)

(748,490

)

PROVISIONS FOR LIABILITIES

(35,254

)

(21,821

)

NET ASSETS

74,932

50,809

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Share premium

49,095

49,095

Retained earnings

24,837

714

SHAREHOLDERS' FUNDS

74,932

50,809

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 15 December 2017 and were signed on its behalf by:

M J Sutton - Director

1.	STATUTORY INFORMATION

Agri Plant Solutions Limited 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.

This is the first year in which the financial statements have been prepared in accordance with Financial Reporting Standard

102. No accounting policies have been changed as a result of this and no amounts in the comparative period are required

to be restated due to the conversion to Financial Reporting Standard 102.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Property improvements

-

10% on cost and 5% on cost

Plant and machinery

-

15% on reducing balance, 10% on reducing balance and 5% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance and 15% on reducing balance

Office equipment

-

10% 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire

purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over

their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the

future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Property

Plant and

and

improvements

machinery

fittings

£

£

£

COST

At 1 April 2016

9,230

899,956

20,675

Additions

2,781

69,750

-

At 31 March 2017

12,011

969,706

20,675

DEPRECIATION

At 1 April 2016

2,253

174,797

5,079

Charge for year

837

37,636

2,340

Eliminated on disposal

-

14,343

-

At 31 March 2017

3,090

226,776

7,419

NET BOOK VALUE

At 31 March 2017

8,921

742,930

13,256

At 31 March 2016

6,977

725,159

15,596

Motor

Office

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2016

101,434

7,966

1,039,261

Additions

17,850

-

90,381

Disposals

(22,887

)

-

(22,887

)

At 31 March 2017

96,397

7,966

1,106,755

DEPRECIATION

At 1 April 2016

27,312

3,262

212,703

Charge for year

12,236

1,161

54,210

Eliminated on disposal

(13,927

)

-

416

At 31 March 2017

25,621

4,423

267,329

NET BOOK VALUE

At 31 March 2017

70,776

3,543

839,426

At 31 March 2016

74,122

4,704

826,558

The net book value of tangible fixed assets includes £ 553,411 (2016 - £ 529,448 ) in respect of assets held under hire

purchase contracts.

5.

STOCKS

2017

2016

£

£

Stocks

11,000

11,000

Work-in-progress

20,000

35,000

31,000

46,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

41,357

100,581

Other debtors

1,868

720

VAT

3,150

7,800

46,375

109,101

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts (see note 9)

15,351

20,612

Hire purchase contracts

84,707

84,353

Trade creditors

60,599

28,948

Tax

3,250

-

Social security and other taxes

235

-

Other creditors

8,197

3,492

Directors' current accounts

50,000

27,500

Accrued expenses

2,530

3,282

224,869

168,187

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans (see note 9)

62,157

76,652

Hire purchase contracts

153,607

174,016

Directors' loan accounts

513,500

497,822

729,264

748,490

Amounts falling due in more than five years:

Repayable by instalments

Bank loans repayable after more than five years by instalments

-

12,037

9.

LOANS

An analysis of the maturity of loans is given below:

2017

2016

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

-

5,737

Bank loans

15,351

14,875

15,351

20,612

Amounts falling due between two and five years:

Bank loans repayable within five years

62,157

64,615

Amounts falling due in more than five years:

Repayable by instalments

Bank loans repayable after more than five years by instalments

-

12,037

10.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdraft

-

5,737

Bank loans

77,508

91,527

Hire purchase contracts

238,314

258,369

315,822

355,633

The company's bankers hold a debenture over the assets of the company together with a personal guarantee of £240,000

given by the directors and a first charge over freehold property owned by the directors.

11.	CONTROLLING PARTY

The company is controlled by Mr M J and Mrs H Sutton who own the entire issued share capital of the company.