Agriline Products Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04351032 (England and Wales)

AGRILINE PRODUCTS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST MARCH 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

to

4

Chartered Accountants' Report

5

DIRECTORS:

Mr O G Stiley

Mrs H Rands

Mrs C B Stiley

REGISTERED OFFICE:

Grasmere Cottage

Lower Bentley Lane

Lower Bentley Bromsgrove

Worcestershire

B60 4JB

REGISTERED NUMBER:

04351032 (England and Wales)

ACCOUNTANTS:

Ormerod Rutter Limited

Chartered Accountants

The Oakley

Kidderminster Road

Droitwich

Worcestershire

WR9 9AY

BANKERS:

HSBC Bank plc

Haydon House

Alcester Road

Studley

Warwickshire

B80 7AN

FIXED ASSETS

Tangible assets

2

534,369

432,585

CURRENT ASSETS

Stocks

534,249

459,546

Debtors

211,326

223,115

Cash at bank and in hand

247,712

230,516

993,287

913,177

CREDITORS

Amounts falling due within one year

3

713,152

514,694

NET CURRENT ASSETS

280,135

398,483

TOTAL ASSETS LESS CURRENT LIABILITIES

814,504

831,068

PROVISIONS FOR LIABILITIES

25,016

55,743

NET ASSETS

789,488

775,325

CAPITAL AND RESERVES

Called up share capital

4

4

2

Profit and loss account

789,484

775,323

SHAREHOLDERS' FUNDS

789,488

775,325

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2014 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 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 23rd July 2014 and were signed on its behalf by:

Mr O G Stiley - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Freehold property

-

Nil

Improvements to property

-

2% on reducing balance

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

No depreciation is provided on freehold property. This treatment may be a departure from the requirements of

the Companies Act 2006 concerning depreciation of fixed assets, however, the company follows a program of

regular refurbishment and maintenance of its property which includes the reinstatement of the fabric of the

building where necessary in order to maintain it to a high standard. Accordingly in the opinion of the directors

any element of depreciation would be immaterial and no provision has been made, as the residual value would be

in excess of cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2013

662,898

Additions

179,482

At 31st March 2014

842,380

DEPRECIATION

At 1st April 2013

230,313

Charge for year

77,698

At 31st March 2014

308,011

NET BOOK VALUE

At 31st March 2014

534,369

At 31st March 2013

432,585

3.

CREDITORS

Creditors include an amount of £ 24 for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

2

Ordinary A

£1

2

2

1

Ordinary B

£1

1

-

1

Ordinary C

£1

1

-

4

2

The following shares were allotted and fully paid for cash at par during the year:

1 Ordinary B shares of £1 each

1 Ordinary C shares of £1 each

5.	ULTIMATE PARENT COMPANY

Agriline Products Holdings Limited is regarded by the directors as being the company's ultimate parent

company.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Agriline Products Limited for the year ended 31st March 2014 which comprise the Profit and

Loss Account, the Balance Sheet and the 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 icaew.com/membershandbook.

This report is made solely to the Board of Directors of Agriline Products Limited, as a body, in accordance with our

terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of

Agriline Products Limited and state those matters that we have agreed to state to the Board of Directors of Agriline

Products Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the

fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its

Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Agriline Products 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 Agriline

Products Limited. You consider that Agriline Products 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 Agriline Products 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.

Ormerod Rutter Limited

Chartered Accountants

The Oakley

Kidderminster Road

Droitwich

Worcestershire

WR9 9AY

23rd July 2014