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

REGISTERED NUMBER: 12427215 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

AGRISOUND LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Dr C J Woodward

Mr P R Gresham

REGISTERED OFFICE:

York Biotech Campus

Sand Hutton

York

Yorkshire

YO41 1LZ

REGISTERED NUMBER:

12427215 (England and Wales)

ACCOUNTANTS:

Horsham Accountancy Services Ltd

Littlehaven House

24-26 Littlehaven Lane

Horsham

West Sussex

RH12 4HT

FIXED ASSETS

Tangible assets

4

5,389

1,602

CURRENT ASSETS

Stocks

42,084

-

Debtors

5

99,375

13,855

Cash at bank

144,625

177,220

286,084

191,075

CREDITORS

Amounts falling due within one year

6

59,265

68,338

NET CURRENT ASSETS

226,819

122,737

TOTAL ASSETS LESS CURRENT LIABILITIES

232,208

124,339

CREDITORS

Amounts falling due after more than one year

7

10,736

-

NET ASSETS

221,472

124,339

CAPITAL AND RESERVES

Called up share capital

455

394

Share premium

377,940

147,852

Retained earnings

(156,923

)

(23,907

)

221,472

124,339

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 and authorised for issue on 21 March 2022 and were signed on its behalf by:

Dr C J Woodward - Director

1.	STATUTORY INFORMATION

AgriSound 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.

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.

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.

Fixtures and fittings

-

20% on cost

Computer equipment

-

25% on cost

Government grants

Government Grants received from Innovate UK and the associated expenditure are recognised as turnover and costs in the period to which they relate.

Stocks

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

Notwithstanding the losses made in the year, the accounts have been prepared on a going concern basis as the Company has raised further share capital in the year, has secured further grants and is in the process of raising further funds in order to develop its main products. Consequently, the Directors consider the Going Concern basis is appropriate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2021

1,636

Additions

4,783

At 31 December 2021

6,419

DEPRECIATION

At 1 January 2021

34

Charge for year

996

At 31 December 2021

1,030

NET BOOK VALUE

At 31 December 2021

5,389

At 31 December 2020

1,602

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

17,841

-

Other debtors

81,534

13,855

99,375

13,855

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade creditors

28,056

13,222

Taxation and social security

534

495

Other creditors

30,675

54,621

59,265

68,338

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Other creditors

10,736

-

The long term creditor is comprised of a loan from Dr Woodward, a Director.