Accounts filed on 31-05-2018

Accounts filed on 31-05-2018

UNITED AGROCHEMICAL LTD - Company Information

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05465368falsetrading chemical and fertilizers2017-06-012018-05-31http://www.companieshouse.gov.uk/2017-05-31http://www.companieshouse.gov.uk/pt:ShareCapital2017-05-31http://www.companieshouse.gov.uk/cd:Director12017-06-012018-05-31http://www.companieshouse.gov.uk/pt:ShareCapital2018-05-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12017-06-012018-05-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2017-06-012018-05-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2017-06-012018-05-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2018-05-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2017-05-31http://www.companieshouse.gov.uk/2016-06-012017-05-31http://www.companieshouse.gov.uk/2017-06-012018-05-31http://www.companieshouse.gov.uk/2017-05-31http://www.companieshouse.gov.uk/cd:FRS1022017-06-012018-05-31http://www.companieshouse.gov.uk/2018-05-31http://www.companieshouse.gov.uk/cd:FullAccounts2017-06-012018-05-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2017-06-012018-05-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 05465368
UNITED AGROCHEMICAL LTD
ACCOUNTS
FOR THE YEAR ENDED 31/05/2018
Prepared By:
UNITED AGROCHEMICAL LTD
ACCOUNTS
FOR THE YEAR ENDED 31/05/2018
DIRECTORS
Valeri BAZANDARASHVILI
SECRETARY
BBM TRADE LTD
REGISTERED OFFICE
13 John Prince'S Street
2nd Floor
London
W1G 0JR
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 05465368
ACCOUNTANTS
UNITED AGROCHEMICAL LTD
ACCOUNTS
FOR THEYEARENDED31/05/2018
CONTENTS
Page
Directors' Report3
Statement Of Comprehensive Income4
Balance Sheet5
Notes To The Accounts6
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account9
Profit And Loss Account Summaries-
UNITED AGROCHEMICAL LTD
DIRECTORS' REPORT
FOR THEYEARENDED31/05/2018
The directors present their report and accounts for theyearended31/05/2018
DIRECTORS
The directors who served during theyearwere as follows:
Valeri BAZANDARASHVILI
STATEMENT OF DIRECTORS RESPONSIBILITIES
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulation.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements the directors are required to:
- Select suitable accounting policies and then apply them consistently;
- Make judgements and accounting estimates that are reasonable and prudent;
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The report of the directors has been prepared in accordance with the special provisions within Part 15 of the Companies Act 2006.
This report was approved by the board on22/12/2016
Valeri BAZANDARASHVILI
Director
UNITED AGROCHEMICAL LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THEYEARENDED31/05/2018
Notes20182017
££
TURNOVER621,678313,070
Cost of sales(603,709)(253,064)
GROSS PROFIT17,96960,006
Distribution costs and selling expenses(356,363)(134,465)
Administrative expenses(26,060)(38,415)
OPERATING LOSS(364,454)(112,874)
Interest receivable and similar income35,55140,240
Interest payable and similar charges(66,628)(28,734)
LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION(395,531)(101,368)
LOSS ON ORDINARY ACTIVITIES AFTER TAXATION(395,531)(101,368)
UNITED AGROCHEMICAL LTD
BALANCE SHEET AT 31/05/2018
20182017
Notes££
CURRENT ASSETS
Stock620,965640,009
Debtors5956,8501,311,013
Cash at bank and in hand-13,493
1,577,8151,964,515
CREDITORS: Amounts falling due within one year6445,672966,155
NET CURRENT ASSETS1,132,143998,360
TOTAL ASSETS LESS CURRENT LIABILITIES1,132,143998,360
CREDITORS: Amounts falling due after more than one year71,442,636913,322
NET (LIABILITIES) / ASSETS(310,493)85,038
CAPITAL AND RESERVES
Called up share capital822
Profit and loss account(310,495)85,036
SHAREHOLDERS' FUNDS(310,493)85,038
For the year ending 31/05/2018 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board on 22/12/2016 and signed on their behalf by
.............................
Valeri BAZANDARASHVILI
Director
UNITED AGROCHEMICAL LTD
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/05/2018
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1c. Foreign Currency
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of the exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at the historic cost in a foreign currency are not retranslated.
1d. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.
2. EMPLOYEES
20182017
No.No.
Average number of employees--
UNITED AGROCHEMICAL LTD
3. TAX ON ORDINARY ACTIVITIES
20182017
££
4. STOCK 20182017
££
Stock comprises:
Stock620,965640,009
620,965640,009
5. DEBTORS 20182017
££
Amounts falling due within one year
Trade debtors380,374465,187
Other debtors515,725794,207
Prepayments60,75151,619
956,8501,311,013
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20182017
££
Trade creditors260,626956,234
Other creditors184,1448,992
Accruals902929
445,672966,155
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20182017
££
Other creditors > 1yr1,442,636913,322
1,442,636913,322
UNITED AGROCHEMICAL LTD
8. SHARE CAPITAL 20182017
££
Allotted, issued and fully paid:
2 Ordinary shares of £1 each22
22
UNITED AGROCHEMICAL LTD
TRADING AND PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31/05/2018
20182017
££
Turnover621,678313,070
Cost of Sales:
Stock at 31/05/2017640,009-
Purchases603,709253,064
1,243,718253,064
Stock at 31/05/2018(640,009)-
603,709253,064
Gross Profit17,96960,006
17,96960,006
Less:
Distribution costs356,363134,465
Administrative expenses26,06038,415
Interest receivable and similar income(35,551)(40,240)
Interest payable and similar charges66,62828,734
413,500161,374
Net loss for the year before taxation(395,531)(101,368)
Net loss for the year after taxation(395,531)(101,368)
Retained profits brought forward85,036186,404
Retained (losses) / profits carried forward(310,495)85,036
This page does not form part of the Company's Statutory Accounts and is prepared for the information of the Directors only.