Registration number:
Agro Traders Limited
for the Year Ended 30 September 2018
18 King William Street
Monument
London
EC4N 7BP
Agro Traders Limited
Contents
Company Information |
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Directors' 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 |
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Accountants |
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Page 1 |
Agro Traders Limited
Directors' Report for the Year Ended 30 September 2018
The directors present their report and the abridged financial statements for the year ended 30 September 2018.
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
Going concern
The accounts have been prepared on a going concern basis which assumes the continued support of the company’s creditors. Should this support be withdrawn and not replaced by alternative finance, the company would be unable to continue trading. Adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.
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 |
Agro Traders Limited
Abridged Profit and Loss Account for the Year Ended 30 September 2018
Note |
2018 |
2017 |
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Gross profit/(loss) |
- |
- |
|
Administrative expenses |
( |
( |
|
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 3 |
Agro Traders Limited
Statement of Comprehensive Income for the Year Ended 30 September 2018
2018 |
2017 |
|
Loss for the year |
( |
( |
Total comprehensive income for the year |
( |
( |
Page 4 |
Agro Traders Limited
(Registration number: 04537021)
Abridged Balance Sheet as at 30 September 2018
Note |
2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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|
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Cash at bank and in hand |
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|
|
|
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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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Profit and loss account |
( |
( |
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Total equity |
( |
( |
For the financial year ending 30 September 2018 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.
Page 5 |
Agro Traders Limited
(Registration number: 04537021)
Abridged Balance Sheet as at 30 September 2018
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 2018
Share capital |
Profit and loss account |
Total |
|
At 1 October 2017 |
|
( |
( |
Loss for the year |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
At 30 September 2018 |
|
( |
( |
Share capital |
Profit and loss account |
Total |
|
At 1 October 2016 |
|
( |
( |
Loss for the year |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
At 30 September 2017 |
|
( |
( |
Page 7 |
Agro Traders Limited
Notes to the Abridged Financial Statements for the Year Ended 30 September 2018
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.
Page 8 |
Agro Traders Limited
Notes to the Abridged Financial Statements for the Year Ended 30 September 2018
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.
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)
2018 |
2017 |
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Depreciation expense |
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Page 9 |
Agro Traders Limited
Notes to the Abridged Financial Statements for the Year Ended 30 September 2018
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 October 2017 |
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At 30 September 2018 |
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Depreciation |
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At 1 October 2017 |
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Charge for the year |
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At 30 September 2018 |
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Carrying amount |
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At 30 September 2018 |
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At 30 September 2017 |
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Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
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|
|
2 |
|
2 |
Page 10 |