Accounts filed on 30-09-2016
Accounts filed on 30-09-2016
trueAgralan Ltd020398492016-09-30335102297549421490383937850008500013881388421490383937429242923616844952461950433181423714395600394800192838818514588438283957134640275582311162258975142636382363758113283148232495322758Basis of accounting
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over
the useful economic life of that asset as follows:
Research & Development - 25% Straight line
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed
assets at their fair value. The capital element of the future payments is treated as a liability and
the interest is charged to the profit and loss account at a constant rate of charge on the balance of capital repayments outstanding.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Fixed Assets
All fixed assets are initially recorded at cost.
Provisions for liabilities and charges
Provisions for the expected costs of maintenance under guarantees are charged against profits when
products have been invoiced. The effect of the time value of money is not material and therefore
the provisions are not discounted.
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Plant & MachineryStraight line0.2000Fixtures & Fittingsstraight line0.0667Motor VehiclesReducing balance0.2500Leasehold Property ImprovementsStraight line0.1000
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 the transaction. Exchange differences are taken into account in arriving at the operating profit.
6582857858797052545430359510212282206113616918732918335539742781102639711413923987422639013484044952Ordinary8500018500085000Ordinary1850008500085000Included in creditors is a balance of £38956 (2015: £32381) owed to director, Mr A Frost, on his loan account. This balance is interest free and repayable on demand.
During the year the company paid rent of £18,000 (2015: £18,000) to Mr A Frost in respect of premises occupied by the company.
During the year the company paid dividends totalling £16,200 (2015: £0) to Mr P Frost a director.2017-06-29Mr A J P Frosttruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureAgralan Ltd2015-10-012016-09-30Agralan Ltd2014-10-012015-09-30Agralan Ltd2014-09-30Agralan Ltd2015-09-30Agralan Ltd2015-09-30Agralan Ltd2016-09-30 2017-06-29
