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

REGISTERED NUMBER: 07084547 (England and Wales)

Agritask Ltd

Financial Statements for the Year Ended 31st March 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J W Terpstra

REGISTERED OFFICE:

4 High Street

Alton

Hampshire

GU34 1BU

REGISTERED NUMBER:

07084547 (England and Wales)

ACCOUNTANTS:

Sheen Stickland

Chartered Accountants

4 High Street

Alton

Hampshire

GU34 1BU

FIXED ASSETS

Tangible assets

4

51,758

59,977

Investments

5

150

150

51,908

60,127

CURRENT ASSETS

Stocks

100,000

109,400

Debtors

6

144,988

100,573

Cash at bank

34

1,384

245,022

211,357

CREDITORS

Amounts falling due within one year

7

383,644

479,014

NET CURRENT LIABILITIES

(138,622

)

(267,657

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(86,714

)

(207,530

)

CREDITORS

Amounts falling due after more than one year

8

50,000

-

NET LIABILITIES

(136,714

)

(207,530

)

CAPITAL AND RESERVES

Called up share capital

9

200

200

Retained earnings

(136,914

)

(207,730

)

SHAREHOLDERS' FUNDS

(136,714

)

(207,530

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 31st March 2022 and were signed by:

J W Terpstra - Director

1.	STATUTORY INFORMATION

Agritask 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.

The director does not consider that the effects of Covid-19 will impact on the ability of the company to continue to operate

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.

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Stocks

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

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.

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

it is the directors intention to continue to support the company and to meet it's liabilities as they fall due and as such the accounts have been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2020

174,926

Additions

15,400

Disposals

(25,500

)

At 31st March 2021

164,826

DEPRECIATION

At 1st April 2020

114,949

Charge for year

9,275

Eliminated on disposal

(11,156

)

At 31st March 2021

113,068

NET BOOK VALUE

At 31st March 2021

51,758

At 31st March 2020

59,977

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st April 2020

and 31st March 2021

150

NET BOOK VALUE

At 31st March 2021

150

At 31st March 2020

150

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

141,607

99,189

Other debtors

3,381

1,384

144,988

100,573

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

7,901

-

Hire purchase contracts

-

6,248

Trade creditors

130,910

150,918

Taxation and social security

-

2,260

Other creditors

244,833

319,588

383,644

479,014

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

50,000

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

100

A ordinary

100

100

100

100

B Ordinary

100

100

100

200

200

The A ordinary shares carry full voting rights and a right to any surplus on the winding up of the company. The B Ordinary shares do not carry any voting rights and do not have a right to any surplus on winding up.

10.	POST BALANCE SHEET EVENTS

Since the end of the financial year the effects of Covid-19 have not impacted significantly on the company. The director does not consider that there will be any lasting impact on the finances of the company or its ability to continue to operate.