Agrimundo Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08113065 (England and Wales)

AGRIMUNDO LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JULY 2018 TO 31 OCTOBER 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J P Benitz

P C Horbye

L E Manchado

REGISTERED OFFICE:

1 Plato Place

72-74 St Dionis Road

Fulham

London

SW6 4TU

REGISTERED NUMBER:

08113065 (England and Wales)

ACCOUNTANTS:

Chanter, Browne & Curry

1 Plato Place

72-74 St Dionis Road

Fulham

London

SW6 4TU

CURRENT ASSETS

Stocks

-

15,000

Debtors

3

-

9,223

Cash at bank

7,813

10,198

7,813

34,421

CREDITORS

Amounts falling due within one year

4

4,669

2,880

NET CURRENT ASSETS

3,144

31,541

TOTAL ASSETS LESS CURRENT LIABILITIES

3,144

31,541

PROVISIONS FOR LIABILITIES

5

-

2,000

NET ASSETS

3,144

29,541

CAPITAL AND RESERVES

Called up share capital

6

93,022

116,957

Share premium

51,224

51,224

Retained earnings

(141,102

)

(138,640

)

SHAREHOLDERS' FUNDS

3,144

29,541

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2019 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 applicable to companies subject to the small companies regime.

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 18 November 2019 and were signed on its behalf by:

P C Horbye - Director

1.	STATUTORY INFORMATION

Agrimundo 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Amounts owed by participating interests

-

4,259

Other debtors

-

4,964

-

9,223

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other creditors

4,669

2,880

5.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Other provisions

-

2,000

Investor

Non-recourse loans with entitlement to share of net receipts

No. of shares held

Share of net receipts

£

%

Peter Horbye

156,250

14,720

20

Bandera Asset Management

156,250

14,720

20

John Benitz

234,375

22,080

30

Luis Egusquiza Manchado

234,375

22,080

30

781,250

73,600

100

When the company was incorporated, it was acknowledged that the above investors had incurred project

development expenditure to the value of £781,250 (equivalent at the time of US$1,250,000). The amount owing to

the above investors represents non-recourse loans that are interest free, in return for a share in the net receipts,

after costs, in the project proceeds. Each investor's share is proportional to their original shareholdings in the

company. If the proceeds are not sufficient to make full repayment of the loans, the company is not bound to make

full repayment.The provision has been cancelled in line with the directors' nil valuation of the likely project proceeds

as at 31 October 2019.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

93,022

Ordinary

£1

93,022

116,957

On 28 June 2019 the company purchased and then cancelled 23,935 of its own £1 ordinary shares for a nominal

consideration pursuant to the powers contained in Part 18 of the Companies Act 2006 and by the articles of

association of the company.

7.	ULTIMATE CONTROLLING PARTY

The directors are considered to be the ultimate controlling party by virtue of their ability to act in concert in respect of

the operational and financial policies of the company.

8.	EXTENSION OF ACCOUNTING PERIOD

On 14 November 2019 the company's year-end was extended and the accounts accordingly cover the sixteen

month period from 1 July 2018 to 31 October 2019.