REGISTERED NUMBER:
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BUNTINGS (AGRI) LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2021 |
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REGISTERED NUMBER:
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BUNTINGS (AGRI) LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2021 |
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BUNTINGS (AGRI) LIMITED (REGISTERED NUMBER: 06086936) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 March 2021 |
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Abridged Balance Sheet | 1 | to | 2 |
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Notes to the Financial Statements | 3 | to | 5 |
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BUNTINGS (AGRI) LIMITED (REGISTERED NUMBER: 06086936) |
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ABRIDGED BALANCE SHEET |
31 March 2021 |
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2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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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. |
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BUNTINGS (AGRI) LIMITED (REGISTERED NUMBER: 06086936) |
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ABRIDGED BALANCE SHEET - continued |
31 March 2021 |
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The financial statements were approved by the Board of Directors and authorised for issue on
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BUNTINGS (AGRI) LIMITED (REGISTERED NUMBER: 06086936) |
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NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 March 2021 |
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1. | STATUTORY INFORMATION |
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Buntings (Agri) Limited is a
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Registered number: | 06086936 |
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Registered office: | Franderground Farm |
Kirkby Lane |
Pinxton |
Nottinghamshire |
NG16 6JB |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements have been prepared on the going concern basis. No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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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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BUNTINGS (AGRI) LIMITED (REGISTERED NUMBER: 06086936) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2021 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Hire purchase and leasing commitments |
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. |
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The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. |
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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 |
Totals |
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COST |
At 1 April 2020 |
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Additions |
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Disposals | ( |
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At 31 March 2021 |
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DEPRECIATION |
At 1 April 2020 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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At 31 March 2020 |
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BUNTINGS (AGRI) LIMITED (REGISTERED NUMBER: 06086936) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2021 |
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5. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2021 | 2020 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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6. | RELATED PARTY DISCLOSURES |
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The company trades from freehold property owned personally by Mr R W Bunting. No formal lease exists, but the arrangement has the characteristics of a fully repairing lease without any specified term. Rent paid during the year amounted to £35,000, (2020 - £35,000). |
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7. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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