D & AGF Limited - Accounts to registrar (filleted) - small 18.2

D & AGF Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 06148322 (England and Wales)

















D & AGF LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018






D & AGF LIMITED (REGISTERED NUMBER: 06148322)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


D & AGF LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2018







DIRECTORS: Mrs D M Gordon-Freeman
Mr A Gordon-Freeman
Mr G G Laycock





REGISTERED OFFICE: Unit 11A
iPark
Innovation Drive
Kingston Upon Hull
HU5 1SG





REGISTERED NUMBER: 06148322 (England and Wales)





ACCOUNTANTS: Southgates
Chartered Certified Accountants
Owthorne Manor
2 Hubert Street
Withernsea
East Yorkshire
HU19 2AT

D & AGF LIMITED (REGISTERED NUMBER: 06148322)

BALANCE SHEET
30 June 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 380,194 366,464

CURRENT ASSETS
Stocks 5 179,497 211,736
Debtors 6 27,104 31,433
Cash at bank and in hand 1,184 1,972
207,785 245,141
CREDITORS
Amounts falling due within one year 7 117,838 122,135
NET CURRENT ASSETS 89,947 123,006
TOTAL ASSETS LESS CURRENT
LIABILITIES

470,141

489,470

CREDITORS
Amounts falling due after more than one
year

8

(218,616

)

(237,177

)

PROVISIONS FOR LIABILITIES (11,476 ) (12,400 )

ACCRUALS AND DEFERRED INCOME (99,525 ) (101,688 )
NET ASSETS 140,524 138,205

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 10 25,000 -
Retained earnings 115,523 138,204
SHAREHOLDERS' FUNDS 140,524 138,205

D & AGF LIMITED (REGISTERED NUMBER: 06148322)

BALANCE SHEET - continued
30 June 2018


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 22 March 2019 and were signed on its behalf by:





Mrs D M Gordon-Freeman - Director


D & AGF LIMITED (REGISTERED NUMBER: 06148322)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2018

1. STATUTORY INFORMATION

D & AGF Limited is a private company, limited by shares , registered in England and Wales. The company's
registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold Land and Buildings - 2% on cost
Plant & equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases
are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element
of the future payments is treated as a liability.

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

D & AGF LIMITED (REGISTERED NUMBER: 06148322)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2018

2. ACCOUNTING POLICIES - continued

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,
as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that
evidences a residual interest in the assets of the company after deducting all of its liabilities.

Government grants
Government grants are recognised at fair value when there is reasonable assurance that the company will comply
with the conditions attaching to them and the grants will be received. Grants related to purchase of assets are
treated as deferred income and allocated to the profit and loss account over the useful lives of the related assets.
Grants related to expenses are treated as income in the profit and loss account in the period they are receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 6 ) .

4. TANGIBLE FIXED ASSETS
Freehold
Land and Plant & Motor
Buildings equipment vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 July 2017 373,565 28,126 19,042 420,733
Additions - 1,319 - 1,319
Disposals - (2,361 ) - (2,361 )
Revaluations 25,000 - - 25,000
At 30 June 2018 398,565 27,084 19,042 444,691
DEPRECIATION
At 1 July 2017 22,414 17,332 14,523 54,269
Charge for year 7,471 2,709 1,130 11,310
Eliminated on disposal - (1,082 ) - (1,082 )
At 30 June 2018 29,885 18,959 15,653 64,497
NET BOOK VALUE
At 30 June 2018 368,680 8,125 3,389 380,194
At 30 June 2017 351,151 10,794 4,519 366,464

Cost or valuation at 30 June 2018 is represented by:

Freehold
Land and Plant & Motor
Buildings equipment vehicles Totals
£    £    £    £   
Valuation in 2018 25,000 - - 25,000
Cost 373,565 27,084 19,042 419,691
398,565 27,084 19,042 444,691

D & AGF LIMITED (REGISTERED NUMBER: 06148322)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2018

4. TANGIBLE FIXED ASSETS - continued

If freehold property had not been revalued it would have been included at the following historical cost:

2018 2017
£    £   
Cost 373,565 373,565
Aggregate depreciation 29,885 22,414

The freehold property was valued on an open market basis on 30 June 2018 by the directors .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 July 2017 19,042
Transfer to ownership (19,042 )
At 30 June 2018 -
DEPRECIATION
At 1 July 2017 12,515
Transfer to ownership (12,515 )
At 30 June 2018 -
NET BOOK VALUE
At 30 June 2018 -
At 30 June 2017 6,527

5. STOCKS
2018 2017
£    £   
Stocks 179,497 211,736

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 11,101 18,828
Other debtors 3,300 -
Prepayments 12,703 12,605
27,104 31,433

D & AGF LIMITED (REGISTERED NUMBER: 06148322)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2018

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts 61,570 45,694
Other loans 14,017 15,127
Hire purchase contracts - 4,148
Trade creditors 25,743 28,940
Tax - 12,074
Social security and other taxes 666 555
VAT 10,193 10,602
Credit card 1,739 1,605
Directors' current accounts 23 24
Accruals 3,887 3,366
117,838 122,135

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2018 2017
£    £   
Bank loan 1-2 years 11,780 11,609
Bank loans - 2-5 years 35,339 34,827
Bank loans more 5 yr by instal 113,477 126,109
Other loans - 1-2 years - 6,612
Directors' loan accounts 58,020 58,020
218,616 237,177

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 113,477 126,109

9. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Bank loans 172,376 184,154

The bank loan is secured with a fixed and floating charge over the assets of the company.

10. RESERVES
Revaluation
reserve
£   
Revaluation 25,000

At 30 June 2018 25,000