A G S (Alloy Sales) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06053005 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

A G S (ALLOY SALES) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Garbett

A Garbett

REGISTERED OFFICE:

First Floor

Black Country House

Rounds Green Road

Oldbury

West Midlands

B69 2DG

REGISTERED NUMBER:

06053005 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

Chartered Accountants

Black Country House

Rounds Green Road

Oldbury

West Midlands

B69 2DG

FIXED ASSETS

Tangible assets

4

19,377

20,940

CURRENT ASSETS

Stocks

31,153

44,306

Debtors

5

230,955

170,650

Cash at bank

5,165

14,617

267,273

229,573

CREDITORS

Amounts falling due within one year

6

299,120

227,928

NET CURRENT (LIABILITIES)/ASSETS

(31,847

)

1,645

TOTAL ASSETS LESS CURRENT LIABILITIES

(12,470

)

22,585

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(12,472

)

22,583

SHAREHOLDERS' FUNDS

(12,470

)

22,585

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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.

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 23 March 2021 and were signed on its behalf by:

P Garbett - Director

1.	STATUTORY INFORMATION

A G S (Alloy Sales) 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 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

Revenue is recognised to the extent it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised once the company has transferred the risk and rewards of ownership to the buyer and all revenue can be reliably measured.

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

-

12.5% 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2019 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2019

42,157

Additions

333

At 31 March 2020

42,490

DEPRECIATION

At 1 April 2019

21,217

Charge for year

1,896

At 31 March 2020

23,113

NET BOOK VALUE

At 31 March 2020

19,377

At 31 March 2019

20,940

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

207,759

143,210

Amounts owed by participating interests

526

-

Other debtors

22,670

27,440

230,955

170,650

At the year end the company was owed £8,451 (2019: £10,900) from the director and other participator, included in other debtors. The maximum amount outstanding in the year was £10,900.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

170,829

95,845

Amounts owed to participating interests

-

1,274

Taxation and social security

10,185

19,816

Other creditors

118,106

110,993

299,120

227,928

7.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Invoice discounting

111,911

76,306

A fixed and floating charge over all non-vesting domestic debts and their proceeds, all associated rights to any non-vesting export debts and their proceeds, all associated rights to any non-vesting export debts, by way of assignment the excluded proceeds, by way of first floating charge all of the company's present and future undertaking and assets.