Registration number:
Agro Traders Limited
for the Year Ended 30 September 2017
18 King William Street
Monument
London
EC4N 7BP
Agro Traders Limited
Contents
Company Information |
|
Directors' Report |
|
Accountants' Report |
|
Abridged Profit and Loss Account |
|
Statement of Comprehensive Income |
|
Abridged Balance Sheet |
|
Statement of Changes in Equity |
|
Notes to the Abridged Financial Statements |
Agro Traders Limited
Company Information
Directors |
Mr Alan Davidoff Kunle Ayoade |
Company secretary |
Mr Ayoade |
Registered office |
|
Accountants |
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Page 1 |
Agro Traders Limited
Directors' Report for the Year Ended 30 September 2017
The directors present their report and the abridged financial statements for the year ended 30 September 2017.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is Combined office administrative service activities
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the
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Page 2 |
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Agro Traders Limited
for the Year Ended 30 September 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Agro Traders Limited for the year ended 30 September 2017 as set out on pages 4 to 9 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 Agro Traders Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Agro Traders Limited and state those matters that we have agreed to state to the Board of Directors of Agro Traders 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 Agro Traders Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Agro Traders Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Agro Traders Limited. You consider that Agro Traders 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 accounts of Agro Traders 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 accounts.
......................................
Monument
London
EC4N 7BP
Page 3 |
Agro Traders Limited
Abridged Profit and Loss Account for the Year Ended 30 September 2017
Note |
2017 |
2016 |
|
Gross profit/(loss) |
- |
- |
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Administrative expenses |
( |
( |
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Loss before tax |
( |
( |
|
Loss for the financial year |
( |
( |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Page 4 |
Agro Traders Limited
Statement of Comprehensive Income for the Year Ended 30 September 2017
2017 |
2016 |
|
Loss for the year |
( |
( |
Total comprehensive income for the year |
( |
( |
Page 5 |
Agro Traders Limited
(Registration number: 04537021)
Abridged Balance Sheet as at 30 September 2017
Note |
2017 |
2016 |
|
Fixed assets |
|||
Tangible assets |
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|
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Current assets |
|||
Debtors |
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|
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Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
|||
Called up share capital |
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|
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Profit and loss account |
( |
( |
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Total equity |
( |
( |
For the financial year ending 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
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Page 6 |
Agro Traders Limited
Statement of Changes in Equity for the Year Ended 30 September 2017
Share capital |
Profit and loss account |
Total |
|
At 1 October 2016 |
|
( |
( |
Loss for the year |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
At 30 September 2017 |
|
( |
( |
Share capital |
Profit and loss account |
Total |
|
At 1 October 2015 |
|
( |
( |
Loss for the year |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
At 30 September 2016 |
|
( |
( |
Page 7 |
Agro Traders Limited
Notes to the Abridged Financial Statements for the Year Ended 30 September 2017
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures & Fittings |
20% Reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Page 8 |
Agro Traders Limited
Notes to the Abridged Financial Statements for the Year Ended 30 September 2017
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Loss before tax |
Arrived at after charging/(crediting)
2017 |
2016 |
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Depreciation expense |
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Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
||
At 1 October 2016 |
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At 30 September 2017 |
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Depreciation |
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At 1 October 2016 |
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Charge for the year |
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At 30 September 2017 |
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Carrying amount |
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At 30 September 2017 |
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At 30 September 2016 |
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Share capital |
Allotted, called up and fully paid shares
2017 |
2016 |
|||
No. |
£ |
No. |
£ |
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|
|
2 |
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2 |
Page 9 |