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Financial Statements |
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for the Year Ended 31 December 2016 |
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for |
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Alex Stewart Agriculture Limited |
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REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 December 2016 |
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for |
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Alex Stewart Agriculture Limited |
Alex Stewart Agriculture Limited (Registered number: 01501780) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2016 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Alex Stewart Agriculture Limited |
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Company Information |
for the Year Ended 31 December 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Oriel House |
2-8 Oriel Road |
Bootle |
Liverpool |
Merseyside |
L20 7EP |
Alex Stewart Agriculture Limited (Registered number: 01501780) |
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Balance Sheet |
31 December 2016 |
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31.12.16 | 31.12.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
Alex Stewart Agriculture Limited (Registered number: 01501780) |
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Balance Sheet - continued |
31 December 2016 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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Alex Stewart Agriculture Limited (Registered number: 01501780) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2016 |
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1. | STATUTORY INFORMATION |
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Alex Stewart Agriculture Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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As directors, we have considered the financial position of the company. We believe that the company's financial |
statements should be prepared on a going concern basis on the grounds that current and future sources of |
funding or support will be more than adequate for the company's needs. We have considered a period of twelve |
months from the date of approval of the financial statements. We believe that no further disclosures relating to |
the company's ability to continue as a going concern need to be made in the financial statements. |
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Turnover |
Turnover represents the fair value of services provided under contracts with customers to the extent that there is |
a right to consideration. It is measured at the fair value of consideration due. Where a service is incomplete at |
the year end, turnover represents the value of the service provided to that date based on an appropriate |
proportion of the total expected consideration at completion. |
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Tangible fixed assets |
Fixed assets are recognised at historical cost less depreciation. Depreciation is provided at the following annual |
rates in order to write off each asset over its estimated useful life. |
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Plant and machinery | - 25% on reducing balance |
Fixtures and fittings | - 25% on reducing balance |
Computer equipment | - 25% on reducing balance |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws |
that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal |
of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Alex Stewart Agriculture Limited (Registered number: 01501780) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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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. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2016 |
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Additions |
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Disposals |
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At 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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Eliminated on disposal |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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Alex Stewart Agriculture Limited (Registered number: 01501780) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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COST |
Additions |
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At 31 December 2016 |
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DEPRECIATION |
Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1 January 2016 |
and 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts (see note 9) |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Other creditors includes £157,279 (2015: £152,393) owing to A S International Corporation Limited, an |
associated company. |
Alex Stewart Agriculture Limited (Registered number: 01501780) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Hire purchase contracts (see note 9) |
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9. | LEASING AGREEMENTS |
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At the year end the company had total operating lease commitments of £38,150 (2015 - £5,347) |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.12.16 | 31.12.15 |
£ | £ |
Bank overdrafts |
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National Westminster Bank Plc hold a fixed and floating charge dated 11 January 2011 over the assets of the |
company. |
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11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 December 2016 and |
31 December 2015: |
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31.12.16 | 31.12.15 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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12. | CONTROLLING PARTY |
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The controlling party is G A Stewart. |