Agro Traders Limited - Period Ending 2018-09-30

Registration number: 04537021

Agro Traders Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 September 2018

Hudson Conway & Co. Limited
18 King William Street
Monument
London
EC4N 7BP

Agro Traders Limited

Contents

Company Information	1
Directors' Report	2
Abridged Profit and Loss Account	3
Statement of Comprehensive Income	4
Abridged Balance Sheet	5 to 6
Statement of Changes in Equity	7
Notes to the Abridged Financial Statements	8 to 10

Agro Traders Limited

Company Information

Directors

Mr Alan Davidoff Kunle Ayoade

Company secretary

Mr Ayoade

Registered office

Churchill House 137-139 Brent Street Hendon London NW4 4DJ

Accountants

Hudson Conway & Co. Limited 18 King William Street Monument London EC4N 7BP

Page 1

Agro Traders Limited

Directors' Report for the Year Ended 30 September 2018

The directors present their report and the abridged financial statements for the year ended 30 September 2018.

Directors of the company

The directors who held office during the year were as follows:

Mr Alan Davidoff

Kunle Ayoade

Principal activity

The principal activity of the company is Combined office administrative service activities

Going concern

The accounts have been prepared on a going concern basis which assumes the continued support of the company’s creditors. Should this support be withdrawn and not replaced by alternative finance, the company would be unable to continue trading. Adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Small companies provision statement

This report has 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.

Approved by the Board on 16 May 2019 and signed on its behalf by:

......................................... Mr Alan Davidoff Director

Page 2

Agro Traders Limited

Abridged Profit and Loss Account for the Year Ended 30 September 2018

	Note	2018 £	2017 £
Gross profit/(loss)		-	-
Administrative expenses		(563)	(1,141)
Loss before tax	3	(563)	(1,141)
Loss for the financial year		(563)	(1,141)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

The notes on pages 8 to 10 form an integral part of these abridged financial statements.

Page 3

Agro Traders Limited

Statement of Comprehensive Income for the Year Ended 30 September 2018

	2018 £	2017 £
Loss for the year	(563)	(1,141)
Total comprehensive income for the year	(563)	(1,141)

The notes on pages 8 to 10 form an integral part of these abridged financial statements.

Page 4

Agro Traders Limited

(Registration number: 04537021)
Abridged Balance Sheet as at 30 September 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	4	1,317	1,646
Current assets
Debtors		1,614	1,614
Cash at bank and in hand		9,904	9,904
		11,518	11,518
Creditors: Amounts falling due within one year		(18,701)	(18,467)
Net current liabilities		(7,183)	(6,949)
Net liabilities		(5,866)	(5,303)
Capital and reserves
Called up share capital	5	2	2
Profit and loss account		(5,868)	(5,305)
Total equity		(5,866)	(5,303)

For the financial year ending 30 September 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

The notes on pages 8 to 10 form an integral part of these abridged financial statements.

Page 5

Agro Traders Limited

(Registration number: 04537021)
Abridged Balance Sheet as at 30 September 2018

Approved and authorised by the Board on 16 May 2019 and signed on its behalf by:
 

......................................... Mr Alan Davidoff Director

The notes on pages 8 to 10 form an integral part of these abridged financial statements.

Page 6

Agro Traders Limited

Statement of Changes in Equity for the Year Ended 30 September 2018

	Share capital £	Profit and loss account £	Total £
At 1 October 2017	2	(5,305)	(5,303)
Loss for the year	-	(563)	(563)
Total comprehensive income	-	(563)	(563)
At 30 September 2018	2	(5,868)	(5,866)

	Share capital £	Profit and loss account £	Total £
At 1 October 2016	2	(4,164)	(4,162)
Loss for the year	-	(1,141)	(1,141)
Total comprehensive income	-	(1,141)	(1,141)
At 30 September 2017	2	(5,305)	(5,303)

The notes on pages 8 to 10 form an integral part of these abridged financial statements.

Page 7

Agro Traders Limited

Notes to the Abridged Financial Statements for the Year Ended 30 September 2018

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Churchill House 137-139 Brent Street
Hendon
London
NW4 4DJ
England

These financial statements were authorised for issue by the Board on 16 May 2019.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures & Fittings	20% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Page 8

Agro Traders Limited

Notes to the Abridged Financial Statements for the Year Ended 30 September 2018

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Loss before tax

Arrived at after charging/(crediting)

	2018 £	2017 £
Depreciation expense	329	411

Page 9

Agro Traders Limited

Notes to the Abridged Financial Statements for the Year Ended 30 September 2018

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 October 2017	14,962	14,962
At 30 September 2018	14,962	14,962
Depreciation
At 1 October 2017	13,316	13,316
Charge for the year	329	329
At 30 September 2018	13,645	13,645
Carrying amount
At 30 September 2018	1,317	1,317
At 30 September 2017	1,646	1,646

5	Share capital

Allotted, called up and fully paid shares

	2018		2017
	No.	£	No.	£
Ordinary shares of £1 each	2	2	2	2

Page 10