National Association Of Agricultural Con - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 00086873 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2022

for

The National Association Of Agricultural

Contractors

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C Baker

Mr J Bannister

Mr R Dickinson

Mr J R L Farquharson

Mr C J Goldingham

Mr N Green

Mr R A Hartley

Mr M Hays

Mr R Pinches

Mr M Redman

Mr T W Russon

Mr C Gardner

Mr C Ward

Mr C M Rayner

Mrs J Hewitt

Mr J Hamer

Mr R Jones

Mr M Raymond

Mr D Shepherd

Mr J West

Mr A C Cotterill

Mr B Thompson

Mr J Edwards

REGISTERED OFFICE:

The Old Cart Shed Easton Lodge Farms

Old Oundle Road

Wansford

Cambridgeshire

PE8 6NP

REGISTERED NUMBER:

00086873 (England and Wales)

ACCOUNTANTS:

Brayshaw Morey

Certified Public Accountants

Fraser Ross House

24 Broad Street

Stamford

Lincolnshire

PE9 1PJ

FIXED ASSETS

Tangible assets

5

574

1,511

Investments

6

22,613

30,279

23,187

31,790

CURRENT ASSETS

Debtors

7

13,739

6,519

Cash at bank and in hand

230,416

209,688

244,155

216,207

CREDITORS

Amounts falling due within one year

8

111,395

117,513

NET CURRENT ASSETS

132,760

98,694

TOTAL ASSETS LESS CURRENT LIABILITIES

155,947

130,484

PROVISIONS FOR LIABILITIES

-

1,250

NET ASSETS

155,947

129,234

RESERVES

Revaluation reserve

9

(2,105

)

4,104

Income and expenditure account

9

158,052

125,130

155,947

129,234

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 in accordance with Section 476 of the Companies Act 2006.

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 surplus or deficit 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2022 and were signed on its behalf by:

Mrs J Hewitt - Director

1.	STATUTORY INFORMATION

The National Association Of Agricultural Contractors is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

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.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2021

and 31 August 2022

25,709

DEPRECIATION

At 1 September 2021

24,198

Charge for year

937

At 31 August 2022

25,135

NET BOOK VALUE

At 31 August 2022

574

At 31 August 2021

1,511

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 September 2021

30,279

Revaluations

(7,666

)

At 31 August 2022

22,613

NET BOOK VALUE

At 31 August 2022

22,613

At 31 August 2021

30,279

Cost or valuation at 31 August 2022 is represented by:

Other

investments

£

Valuation in 2020

5,318

Valuation in 2021

(251

)

Valuation in 2022

(7,666

)

Cost

25,212

22,613

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.22

31.8.21

£

£

Trade debtors

12,342

5,809

Other debtors

1,397

710

13,739

6,519

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.22

31.8.21

£

£

Trade creditors

16,114

6,614

Taxation and social security

13,119

7,074

Other creditors

82,162

103,825

111,395

117,513

9.

RESERVES

Income

and

expenditure

Revaluation

account

reserve

Totals

£

£

£

At 1 September 2021

125,130

4,104

129,234

Surplus for the year

26,713

26,713

Transfer of realised profit

6,209

(6,209

)

-

At 31 August 2022

158,052

(2,105

)

155,947