Agrarian Finance Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 05261727 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st December 2023

for

Agrarian Finance Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Booth

H E Booth

T R Booth

SECRETARY:

A Booth

REGISTERED OFFICE:

71 Hardwick Lane

Bury St Edmunds

Suffolk

IP33 2RA

REGISTERED NUMBER:

05261727 (England and Wales)

ACCOUNTANTS:

Integrity Tax & Accountancy Solutions Ltd

May Cottage

Ashfield Road

Norton

Bury St Edmunds

Suffolk

IP31 3NF

FIXED ASSETS

Tangible assets

4

51,264

20,325

Investments

5

195,014

167,303

Investment property

6

2,590,000

2,740,000

2,836,278

2,927,628

CURRENT ASSETS

Debtors

7

8,098

10,850

Cash at bank

77,862

99,633

85,960

110,483

CREDITORS

Amounts falling due within one year

8

1,071,094

1,644,850

NET CURRENT LIABILITIES

(985,134

)

(1,534,367

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,851,144

1,393,261

CREDITORS

Amounts falling due after more than one year

9

(1,266,500

)

(853,615

)

PROVISIONS FOR LIABILITIES

(12,816

)

(4,991

)

NET ASSETS

571,828

534,655

CAPITAL AND RESERVES

Called up share capital

100

100

Other reserves

368,750

329,750

Retained earnings

202,978

204,805

SHAREHOLDERS' FUNDS

571,828

534,655

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 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 12th March 2024 and were signed on its behalf by:

A Booth - Director

1.	STATUTORY INFORMATION

Agrarian Finance Limited 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 as modified by the revaluation of certain assets.

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

-

20% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

33% on cost

Computer equipment

-

33% on cost

Investment property

The fair value of the properties is based on the Directors valuation.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at

transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the

assets of the company after deducting all of its liabilities.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st January 2023

28,999

8,321

40,519

2,491

80,330

Additions

-

-

38,900

-

38,900

At 31st December 2023

28,999

8,321

79,419

2,491

119,230

DEPRECIATION

At 1st January 2023

8,674

8,321

40,519

2,491

60,005

Charge for year

5,800

-

2,161

-

7,961

At 31st December 2023

14,474

8,321

42,680

2,491

67,966

NET BOOK VALUE

At 31st December 2023

14,525

-

36,739

-

51,264

At 31st December 2022

20,325

-

-

-

20,325

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st January 2023

167,303

Additions

27,711

At 31st December 2023

195,014

NET BOOK VALUE

At 31st December 2023

195,014

At 31st December 2022

167,303

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st January 2023

2,740,000

Disposals

(150,000

)

At 31st December 2023

2,590,000

NET BOOK VALUE

At 31st December 2023

2,590,000

At 31st December 2022

2,740,000

Fair value at 31st December 2023 is represented by:

£

Valuation in 2017

75,000

Valuation in 2018

52,750

Valuation in 2019

(5,000

)

Valuation in 2020

207,000

Valuation in 2023

(150,000

)

Cost

2,410,250

2,590,000

If the investment properties had not been revalued it would have been included at the following historical cost:

31.12.23

31.12.22

£

£

Cost

2,221,250

2,410,250

Investment Property was valued on an open market basis on 31st December 2023 by the Directors. .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.23

31.12.22

£

£

Trade debtors

81

1,938

Other debtors

8,017

8,912

8,098

10,850

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.23

31.12.22

£

£

Bank loans and overdrafts

-

556,422

Hire purchase contracts

-

21,048

Trade creditors

113

5,420

Taxation and social security

7,927

23,553

Other creditors

1,063,054

1,038,407

1,071,094

1,644,850

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.23

31.12.22

£

£

Bank loans

1,266,500

853,615

10.	RELATED PARTY DISCLOSURES

As at 31 December 2023 the amounts owed to the directors totalled £784,971 (A&H Booth - £766,094, T Booth - £18,877) (2022 - £708,299) Interest charged on the directors loan accounts totalled £50,640 (2022 - £24,240)