AGRICULTURAL_REQUISITES_A - Accounts
AGRICULTURAL_REQUISITES_A - Accounts
Company Registration No. 00444085 (England and Wales)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2013
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 6
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2013
- 1 -
2013
2012
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Investments
2
Current assets
Stocks
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
(734,358 )
(453,886 )
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one year
(75,000 )
(75,000 )
Provisions for liabilities
(1,687 )
-
Accruals and deferred income
(113,882 )
-
Capital and reserves
Called up share capital
3
Share premium account
Other reserves
Profit and loss account
(270,654 )
Shareholders' funds
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2013
- 2 -
Directors' responsibilities:
-
-
Approved by the Board and authorised for issue on 10 June 2014
Director
Company Registration No. 00444085
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2013
- 3 -
1
Accounting policies
1.1
Accounting convention
The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Research and development
Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.
1.5
Tangible fixed assets and depreciation
Plant and machinery
Fixtures, fittings and equipment
Motor vehicles
1.6
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.7
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.8
Stock
Stock is valued at the lower of cost and net realisable value.
1.9
Revenue recognition
Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.
Income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.
Income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2013
1
Accounting policies
(Continued)
- 4 -
1.10
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.11
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.12
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
1.13
Government grants
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
1.14
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has not exercised the option provided by section 398 of the Companies Act 2006 to prepare group accounts.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2013
- 5 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 January 2013
5,217
116,992
Additions
-
24,795
Disposals
(6,410 )
-
(6,410)
At 31 December 2013
5,217
135,377
Depreciation
At 1 January 2013
-
88,670
On disposals
(6,195 )
-
(6,195)
Charge for the year
-
14,447
At 31 December 2013
-
96,922
Net book value
At 31 December 2013
38,455
At 31 December 2012
28,321
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Ordinary
Ordinary
Participating interests
Ordinary
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2013
2
Fixed assets
(Continued)
- 6 -
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2013
2013
Principal activity
£
£
-
-
4,000
-
(51,172)
-
A.R.M (Productions) Limited and Sterlage Limited did not trade during the year.
3
Share capital
2013
2012
£
£
Allotted, called up and fully paid