AGL Scaffolding Limited Filleted accounts for Companies House (small and micro)

AGL SCAFFOLDING LIMITED - Company Information

false false false false false false false false false true false false false false false false No description of principal activity 2019-08-01 Sage Accounts Production Advanced 2019 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 10299789 2019-08-01 2020-07-31 10299789 2020-07-31 10299789 2019-07-31 10299789 2018-08-01 2019-07-31 10299789 2019-07-31 10299789 core:PlantMachinery 2019-08-01 2020-07-31 10299789 core:MotorVehicles 2019-08-01 2020-07-31 10299789 bus:Director4 2019-08-01 2020-07-31 10299789 core:PlantMachinery 2019-07-31 10299789 core:MotorVehicles 2019-07-31 10299789 core:PlantMachinery 2020-07-31 10299789 core:MotorVehicles 2020-07-31 10299789 core:WithinOneYear 2020-07-31 10299789 core:WithinOneYear 2019-07-31 10299789 core:AfterOneYear 2020-07-31 10299789 core:AfterOneYear 2019-07-31 10299789 core:ShareCapital 2020-07-31 10299789 core:ShareCapital 2019-07-31 10299789 core:RetainedEarningsAccumulatedLosses 2020-07-31 10299789 core:RestatedAmount core:RetainedEarningsAccumulatedLosses 2019-07-31 10299789 core:RestatedAmount 2019-07-31 10299789 core:PlantMachinery 2019-07-31 10299789 core:MotorVehicles 2019-07-31 10299789 bus:SmallEntities 2019-08-01 2020-07-31 10299789 bus:AuditExemptWithAccountantsReport 2019-08-01 2020-07-31 10299789 bus:FullAccounts 2019-08-01 2020-07-31 10299789 bus:SmallCompaniesRegimeForAccounts 2019-08-01 2020-07-31 10299789 bus:PrivateLimitedCompanyLtd 2019-08-01 2020-07-31 10299789 core:ComputerEquipment 2019-08-01 2020-07-31 10299789 core:ComputerEquipment 2019-07-31 10299789 core:ComputerEquipment 2020-07-31

COMPANY REGISTRATION NUMBER: 10299789

AGL Scaffolding Limited

Unaudited financial statements

31 July 2020

AGL Scaffolding Limited

Statement of financial position

31 July 2020

	2020		2019
			(restated)
Note	£	£	£	£

Fixed assets

Tangible assets	5		429,116		350,249

Current assets

Stocks		50,000	–
Debtors	6	220,328	208,315
		---------	---------
		270,328	208,315

Creditors: Amounts falling due within one year	7	( 321,305)		( 261,479)
		---------		---------
Net current liabilities			( 50,977)		( 53,164)
			---------		---------
Total assets less current liabilities			378,139		297,085

Creditors: Amounts falling due after more than one year	8		( 126,329)		( 90,409)

Provisions

Taxation including deferred tax	( 56,984)	( 42,374)
	---------	---------
Net assets	194,826	164,302
	---------	---------

Capital and reserves

Called up share capital	4	4
Profit and loss account	194,822	164,298
	---------	---------
Shareholders funds	194,826	164,302
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 July 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

AGL Scaffolding Limited

Statement of financial position (continued)

31 July 2020

These financial statements were approved by the board of directors and authorised for issue on 25 April 2021 , and are signed on behalf of the board by:

Mr T Aldred-Grinling

Director

Company registration number: 10299789

AGL Scaffolding Limited

Notes to the financial statements

Year ended 31 July 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Excelsior House, 9 Quay View Business Park, Barnards Way, Lowestoft, NR32 2HD. The trading address is Solar Farm, Gisleham, Lowestoft, NR33 8DR.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Computer equipment	-	33% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of employees during the year was 14 (2019: 11 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Computer equipment	Total
	£	£	£	£
Cost
At 1 August 2019 (as restated)	414,926	46,189	261	461,376
Additions	79,910	108,985	4,774	193,669
Disposals	–	( 10,944)	–	( 10,944)
	---------	---------	------	---------
At 31 July 2020	494,836	144,230	5,035	644,101
	---------	---------	------	---------
Depreciation
At 1 August 2019	106,825	4,119	183	111,127
Charge for the year	90,145	14,236	342	104,723
Disposals	–	( 865)	–	( 865)
	---------	---------	------	---------
At 31 July 2020	196,970	17,490	525	214,985
	---------	---------	------	---------
Carrying amount
At 31 July 2020	297,866	126,740	4,510	429,116
	---------	---------	------	---------
At 31 July 2019	308,101	42,070	78	350,249
	---------	---------	------	---------

6. Debtors

	2020	2019
		(restated)
	£	£
Trade debtors	151,629	124,118
Other debtors	68,699	84,197
	---------	---------
	220,328	208,315
	---------	---------

7. Creditors: Amounts falling due within one year

	2020	2019
		(restated)
	£	£
Bank loans and overdrafts	23,903	21,860
Trade creditors	36,282	41,045
Amounts owed to group undertakings and undertakings in which the company has a participating interest	136,120	136,120
Social security and other taxes	–	15,375
Other creditors	125,000	47,079
	---------	---------
	321,305	261,479
	---------	---------

8. Creditors: Amounts falling due after more than one year

	2020	2019
		(restated)
	£	£
Bank loans and overdrafts	8,580	16,302
Other creditors	117,749	74,107
	---------	-------
	126,329	90,409
	---------	-------

9. Directors' advances, credits and guarantees

The company operates loan accounts with the directors. At 31 July 2020 one of the directors owed the company a total of £nil (2019: £10,969). There are no repayment terms in place, and as one of the directors exceeded the £10,000 limit during the year, beneficial loan interest of £23 (2019: £261) was charged on the loan at the HM Revenue & Customs standard rate.