Registered Number 05571451

AGRICULTURAL INDUSTRIES LIMITED

Abbreviated Accounts

31 October 2012

AGRICULTURAL INDUSTRIES LIMITED Registered Number 05571451

Abbreviated Balance Sheet as at 31 October 2012

Notes 2012 2011
£ £
Fixed assets
Intangible assets 2 10,000 12,000
Tangible assets 3 37,126 22,026
47,126 34,026
Current assets
Stocks 4,000 4,000
Debtors 6,376 9,497
Cash at bank and in hand 18,196 10,363
28,572 23,860
Creditors: amounts falling due within one year (48,964) (41,176)
Net current assets (liabilities) (20,392) (17,316)
Total assets less current liabilities 26,734 16,710
Creditors: amounts falling due after more than one year (9,467) -
Provisions for liabilities (5,490) (3,243)
Total net assets (liabilities) 11,777 13,467
Capital and reserves
Called up share capital 4 1 1
Profit and loss account 11,776 13,466
Shareholders' funds 11,777 13,467
  • For the year ending 31 October 2012 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 30 July 2013

And signed on their behalf by:
Elliot Cattaneo, Director

AGRICULTURAL INDUSTRIES LIMITED Registered Number 05571451

Notes to the Abbreviated Accounts for the period ended 31 October 2012

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts are prepared under the historical cost convention and comply with financial reporting standards of the Accounting Standards Board.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible assets depreciation policy
Plant and Machinery- 15% per annum on cost
Motor Vehicles- 25% per annum on cost

Intangible assets amortisation policy
Acquired goodwill is written off in equal instalments over its estimated useful economic life of 10 years.

Other accounting policies
Leasing and Hire Purchase committments Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. the finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

2Intangible fixed assets
£
Cost
At 1 November 2011 20,000
Additions -
Disposals -
Revaluations -
Transfers -
At 31 October 2012 20,000
Amortisation
At 1 November 2011 8,000
Charge for the year 2,000
On disposals -
At 31 October 2012 10,000
Net book values
At 31 October 2012 10,000
At 31 October 2011 12,000
3Tangible fixed assets
£
Cost
At 1 November 2011 51,890
Additions 23,500
Disposals -
Revaluations -
Transfers -
At 31 October 2012 75,390
Depreciation
At 1 November 2011 29,864
Charge for the year 8,400
On disposals -
At 31 October 2012 38,264
Net book values
At 31 October 2012 37,126
At 31 October 2011 22,026
4Called Up Share Capital
Allotted, called up and fully paid:
2012
£
2011
£
1 Ordinary shares of £1 each 1 1