AG Construction (UK) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04795778 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019

FOR

AG CONSTRUCTION (UK) LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G Hardcastle

G Thorpe

REGISTERED OFFICE:

12 Clinton Drive

Sleaford

Lincolnshire

NG34 7LU

REGISTERED NUMBER:

04795778 (England and Wales)

ACCOUNTANTS:

Dexter & Sharpe (Lincoln) Ltd

Landmark House

1 Riseholme Road

Lincoln

Lincolnshire

LN1 3SN

FIXED ASSETS

Intangible assets

3

12,000

15,000

Tangible assets

4

14,686

10,704

26,686

25,704

CURRENT ASSETS

Stocks

1,200

1,200

Debtors

18,600

26,634

Cash at bank

35,580

16,574

55,380

44,408

CREDITORS

Amounts falling due within one year

69,690

67,904

NET CURRENT LIABILITIES

(14,310

)

(23,496

)

TOTAL ASSETS LESS CURRENT LIABILITIES

12,376

2,208

CREDITORS

Amounts falling due after more than one year

(7,532

)

-

PROVISIONS FOR LIABILITIES

(2,735

)

(1,894

)

NET ASSETS

2,109

314

CAPITAL AND RESERVES

Called up share capital

8

8

Retained earnings

2,101

306

SHAREHOLDERS' FUNDS

2,109

314

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors on 22 January 2020 and were signed on its behalf by:

G Hardcastle - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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 reducing balance and 10% 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 Statement of Income and

Retained Earnings, 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

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

lease.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

3.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2018

and 30 June 2019

60,000

AMORTISATION

At 1 July 2018

45,000

Amortisation for year

3,000

At 30 June 2019

48,000

NET BOOK VALUE

At 30 June 2019

12,000

At 30 June 2018

15,000

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2018

40,442

Additions

11,995

Disposals

(12,238

)

At 30 June 2019

40,199

DEPRECIATION

At 1 July 2018

29,738

Charge for year

2,355

Eliminated on disposal

(6,580

)

At 30 June 2019

25,513

NET BOOK VALUE

At 30 June 2019

14,686

At 30 June 2018

10,704

5.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank overdraft

-

10,395