Company Registration No. 05472624 (England and Wales)
AGRICULTURAL PARTS AND ACCESSORIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018
PAGES FOR FILING WITH REGISTRAR
AGRICULTURAL PARTS AND ACCESSORIES LIMITED
COMPANY INFORMATION
Directors
Mr S C Collins
Mr J A Bence
Secretary
Mrs A J Giordano
Company number
05472624
Registered office
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
AGRICULTURAL PARTS AND ACCESSORIES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 4
AGRICULTURAL PARTS AND ACCESSORIES LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF AGRICULTURAL PARTS AND ACCESSORIES LIMITED FOR THE YEAR ENDED 28 FEBRUARY 2018
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Agricultural Parts and Accessories Limited for the year ended 28 February 2018 which comprise, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance
.
This report is made solely to the Board of Directors of Agricultural Parts and Accessories Limited, as a body, in accordance with
our
terms
of
engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Agricultural Parts and Accessories Limited
and state those matters that we have agreed to state to the Board of Directors of Agricultural Parts and Accessories Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Agricultural Parts and Accessories Limited and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that Agricultural Parts and Accessories Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and loss of Agricultural Parts and Accessories Limited. You consider that Agricultural Parts and Accessories Limited is exempt from the statutory audit
requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Agricultural Parts and Accessories Limited. For this reason, we have not verified the accuracy or completeness of the
accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
2 November 2018
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
AGRICULTURAL PARTS AND ACCESSORIES LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2018
28 February 2018
- 2 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
182
182
Current assets
Debtors
4
981
4,788
Cash at bank and in hand
-
219
981
5,007
Creditors: amounts falling due within one year
5
(662)
(1,160)
Net current assets
319
3,847
Total assets less current liabilities
501
4,029
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
401
3,929
Total equity
501
4,029
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 2 November 2018 and are signed on its behalf by:
Mr J A Bence
Director
Company Registration No. 05472624
AGRICULTURAL PARTS AND ACCESSORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018
- 3 -
1
Accounting policies
Company information
Agricultural Parts and Accessories Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
The Oakley, Kidderminster Road, Droitwich, Worcestershire, WR9 9AY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
15% on reducing balance
Computer equipment
15% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2017 - 2).
3
Tangible fixed assets
Plant and machinery
Computer equipment
Total
£
£
£
Cost
At 1 March 2017 and 28 February 2018
155
1,945
2,100
Depreciation and impairment
At 1 March 2017 and 28 February 2018
119
1,799
1,918
Carrying amount
At 28 February 2018
36
146
182
At 28 February 2017
36
146
182
AGRICULTURAL PARTS AND ACCESSORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2018
- 4 -
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Amounts due from group undertakings
981
4,509
Other debtors
-
279
981
4,788
5
Creditors: amounts falling due within one year
2018
2017
£
£
Other creditors
662
1,160
6
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary of £1 each
100
100
7
Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
8
Control
Ultimate parent company
The ultimate parent company is AIP 2015 Limited, a company registered in England and Wales.
Ultimate controlling party
There is no ultimate controlling party by virtue of no controlling interest in the ultimate parent company.