D.P. Agri Limited 31/08/2021 iXBRL

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Company registration number: 06328319

D.P. Agri Limited

Unaudited filleted abridged financial statements

for the year ended

31 August 2021

D.P. Agri Limited

Contents

Directors and other information

Accountants report

Abridged statement of financial position

Notes to the financial statements

D.P. Agri Limited

Directors and other information


	Director	Mr R E Doran


	Secretary	Mr R E Doran


	Company number	06328319


	Registered office	Alverdiscott Road
		Gammaton Road
		Bideford
		Devon
		EX39 4FG


	Business address	DP Agri Ltd, Alverdiscott Road
		Gammaton Road
		Bideford
		Devon
		EX39 4FG


	Accountants	Giffords LLP
		Office 8 The Barns
		Caddsdown Industrial Park
		Bideford
		Devon
		EX39 3BT

D.P. Agri Limited

Chartered accountants report to the director on the preparation of the

unaudited statutory financial statements of D.P. Agri Limited

Year ended 31 August 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of D.P. Agri Limited for the year ended 31 August 2021 which comprise the abridged statement of financial position and 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 director of D.P. Agri 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 financial statements of D.P. Agri Limited and state those matters that we have agreed to state to them, 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 D.P. Agri Limited and its director as a body for our work or for this report.

It is your duty to ensure that D.P. Agri 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 profit of D.P. Agri Limited. You consider that D.P. Agri 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 D.P. Agri 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.

Giffords LLP

Chartered Accountants

Office 8 The Barns

Caddsdown Industrial Park

Bideford

Devon

EX39 3BT

Date: 27 May 2022

D.P. Agri Limited

Abridged statement of financial position

31 August 2021

		2021		2020
	Note	£	£	£	£

Fixed assets
Intangible assets	5	19,500		23,000
Tangible assets	6	132,844		121,011
		________		________
			152,344		144,011

Current assets
Stocks		641,224		507,913
Debtors		210,109		237,236
Cash at bank and in hand		251,858		99,828
		________		________
		1,103,191		844,977
Creditors: amounts falling due
within one year	7	( 418,301)		( 311,454)
		________		________
Net current assets			684,890		533,523
			________		________
Total assets less current liabilities			837,234		677,534

Creditors: amounts falling due
after more than one year			( 67,158)		( 83,013)

Provisions for liabilities			( 22,573)		( 16,924)

			________		________
Net assets			747,503		577,597
			________		________

Capital and reserves
Called up share capital			2		2
Profit and loss account			747,501		577,595
			________		________
Shareholders funds			747,503		577,597
			________		________

For the year ending 31 August 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

All of the members of D.P Agri Limited have consented to the preparation of the abridged statement of financial position for the current year ending 31 August 2021 in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements were approved by the board of directors and authorised for issue on 26 May 2022 , and are signed on behalf of the board by:

Mr R E Doran

Director

Company registration number: 06328319

D.P. Agri Limited

Notes to the financial statements

Year ended 31 August 2021

1. General information

The company is a private company limited by shares, registered in England & Wales, company registration number 06328319 . The address of the registered office is Alverdiscott Road, Gammaton Road, Bideford, Devon, EX39 4FG.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Goodwill	-	10 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	20 %	reducing balance
Fittings fixtures and equipment	-	20 %	reducing balance
Motor vehicles	-	20 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash- generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 10 (2020: 10 ).

5. Intangible assets


		£
	Cost
	At 1 September 2020 and 31 August 2021	35,000
		________
	Amortisation
	At 1 September 2020	12,000
	Charge for the year	3,500
		________
	At 31 August 2021	15,500
		________
	Carrying amount
	At 31 August 2021	19,500
		________
	At 31 August 2020	23,000
		________

6. Tangible assets


		£
	Cost
	At 1 September 2020	229,455
	Additions	61,894
	Disposals	( 21,063)
		________
	At 31 August 2021	270,286
		________
	Depreciation
	At 1 September 2020	108,444
	Charge for the year	33,211
	Disposals	( 4,213)
		________
	At 31 August 2021	137,442
		________
	Carrying amount
	At 31 August 2021	132,844
		________
	At 31 August 2020	121,011
		________

7. Creditors: amounts falling due within one year

The company's overdraft is secured on company assets by fixed and floating charges. The hire purchase liabilities are secured on the assets to which they relate.