Agrimundo Ltd - Accounts to registrar - small 16.3d

Agrimundo Ltd - Accounts to registrar - small 16.3d

AGRIMUNDO LTD - Company Information

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REGISTERED NUMBER: 08113065 (England and Wales)


















AGRIMUNDO LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2016






AGRIMUNDO LTD (REGISTERED NUMBER: 08113065)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AGRIMUNDO LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2016







Directors: J P Benitz
P C Horbye
L E Manchado





Registered office: 1 Plato Place
72-74 St Dionis Road
London
SW6 4TU





Registered number: 08113065 (England and Wales)





Accountants: Chanter, Browne & Curry
1 Plato Place
72-74 St Dionis Road
London
SW6 4TU
Page 1
AGRIMUNDO LTD (REGISTERED NUMBER: 08113065)

BALANCE SHEET
30 JUNE 2016

2016 2015
Notes £    £    £    £   
Fixed assets
Intangible assets 3 781,250 781,250

Current assets
Stocks 58,455 45,888
Debtors 4 4,964 4,964
Cash at bank 26,456 51,937
89,875 102,789
Creditors
Amounts falling due within one year 5 1,200 -
Net current assets 88,675 102,789
Total assets less current liabilities 869,925 884,039

Provisions for liabilities 6 781,250 781,250
Net assets 88,675 102,789

Capital and reserves
Called up share capital 116,957 116,957
Share premium 51,224 51,224
Retained earnings (79,506 ) (65,392 )
Shareholders' funds 88,675 102,789

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 10 April 2017 and were signed on its behalf by:





P C Horbye - Director


The notes form part of these financial statements

Page 2
AGRIMUNDO LTD (REGISTERED NUMBER: 08113065)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016

1. Statutory information

Agrimundo 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Research and development
Development expenditure is capitalised in accordance with the accounting policy given below. Initial capitalisation of costs
is based on management's judgement that technical and economic feasibility is confirmed, usually when a product
development project has reached a defined milestone according to an established project management model. In
determining the amounts to be capitalised management makes assumptions regarding the expected future cash generation
of the assets, discount rates to be applied and the expected period of benefits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet
date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction.
Exchange differences are taken into account in arriving at the operating result.

3. Intangible fixed assets
Research
and
development
£   
Cost
At 1 July 2015
and 30 June 2016 781,250
Net book value
At 30 June 2016 781,250
At 30 June 2015 781,250

4. Debtors: amounts falling due within one year
2016 2015
£    £   
Other debtors 4,964 4,964

5. Creditors: amounts falling due within one year
2016 2015
£    £   
Other creditors 1,200 -

Page 3 continued...
AGRIMUNDO LTD (REGISTERED NUMBER: 08113065)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2016

6. Provisions for liabilities
2016 2015
£    £   
Other provisions 781,250 781,250


Investor 		Non-recourse loans with entitlement to share
of net receipts 		No. of shares
held		Share of net
receipts
£ %
Peter Horbye 156,25014,72020
Bandera Asset Management 156,25014,72020
John Benitz 234,375 22,08030
Luis Egusquiza Manchado 234,375 22,08030

781,250 73,600100

When the company was incorporated, it was acknowledged that the above investors had incurred project development
expenditure to the value of £781,250 (equivalent at the time of US$1,250,000). The amount owing to the above investors
represents non-recourse loans that are interest free, in return for a share in the net receipts, after costs, in the project
proceeds. Each investor's share is proportional to their original shareholdings in the company. If the proceeds are not
sufficient to make full repayment of the loans, the company is not bound to make full repayment.

Page 4