AGRIHIRE LIMITED - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02020706 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2015

for

AGRIHIRE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr T Hubert

SECRETARY:

Mrs D R Hubert

REGISTERED OFFICE:

Fidgeons Farm

Bullen Lane

Bramford

Ipswich

Suffolk

IP8 4JJ

REGISTERED NUMBER:

02020706 (England and Wales)

ACCOUNTANTS:

Turner & Ellerby

Chartered Certified Accountants

5 Church Street

Framlingham

Woodbridge

Suffolk

IP13 9BQ

FIXED ASSETS

Tangible assets

2

534,210

514,106

CURRENT ASSETS

Stocks

314,447

292,942

Debtors

187,309

217,636

Cash at bank and in hand

22,034

184,509

523,790

695,087

CREDITORS

Amounts falling due within one year

3

349,064

576,810

NET CURRENT ASSETS

174,726

118,277

TOTAL ASSETS LESS CURRENT LIABILITIES

708,936

632,383

CREDITORS

Amounts falling due after more than one year

3

(70,104

)

(27,903

)

PROVISIONS FOR LIABILITIES

(103,636

)

(98,888

)

NET ASSETS

535,196

505,592

CAPITAL AND RESERVES

Called up share capital

4

300

300

Profit and loss account

534,896

505,292

SHAREHOLDERS' FUNDS

535,196

505,592

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 2 March 2016 and were signed by:

Mr T Hubert - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

15% on cost

Plant and machinery

-

at varying rates on cost

Fixtures and fittings

-

15% on cost

Stocks

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

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

1,118,118

Additions

228,242

Disposals

(146,294

)

At 30 June 2015

1,200,066

DEPRECIATION

At 1 July 2014

604,012

Charge for year

83,535

Eliminated on disposal

(21,691

)

At 30 June 2015

665,856

NET BOOK VALUE

At 30 June 2015

534,210

At 30 June 2014

514,106

3.

CREDITORS

Creditors include an amount of £ 136,229 (2014 - £ 75,736 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

300

Ordinary

£1

300

300

5.	TRANSACTIONS WITH DIRECTORS'

During the year the company paid rent of £12,000 to Mr T Hubert.

6.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr T & Mrs D R Hubert by virtue of their 100% shareholding.