AGF Plant Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC438505 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

AGF PLANT LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

A G Fiddes

REGISTERED OFFICE:

Chanters Croft

Newmains

North Berwick

EH39 5PR

REGISTERED NUMBER:

SC438505 (Scotland)

ACCOUNTANTS:

J.H. Greenwood & Company

Chartered Accountants

Ava Lodge

Castle Terrace

Berwick Upon Tweed

Northumberland

TD15 1NP

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of AGF Plant Limited for the year ended 31 March 2022 which comprise the Profit and Loss Account, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of AGF Plant Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of AGF Plant Limited and state those matters that we have agreed to state to the director of AGF Plant Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AGF Plant Limited and its director for our work or for this report.

It is your duty to ensure that AGF Plant 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 AGF Plant Limited. You consider that AGF Plant 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 AGF Plant 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.

J.H. Greenwood & Company

Chartered Accountants

Ava Lodge

Castle Terrace

Berwick Upon Tweed

Northumberland

TD15 1NP

6 June 2022

FIXED ASSETS

Tangible assets

4

43,535

15,687

CURRENT ASSETS

Stocks

5,000

5,085

Debtors

5

18,180

19,257

Cash at bank

39,347

31,637

62,527

55,979

CREDITORS

Amounts falling due within one year

6

53,085

37,224

NET CURRENT ASSETS

9,442

18,755

TOTAL ASSETS LESS CURRENT LIABILITIES

52,977

34,442

CREDITORS

Amounts falling due after more than one year

7

(43,591

)

(26,940

)

PROVISIONS FOR LIABILITIES

(8,272

)

-

NET ASSETS

1,114

7,502

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,014

7,402

1,114

7,502

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 June 2022 and were signed by:

A G Fiddes - Director

1.	STATUTORY INFORMATION

AGF Plant Limited is a private company, limited by shares , registered in Scotland. 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

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.

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 Profit and Loss Account, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2021

26,157

27,313

2,421

55,891

Additions

2,395

31,150

1,859

35,404

At 31 March 2022

28,552

58,463

4,280

91,295

DEPRECIATION

At 1 April 2021

15,839

22,305

2,060

40,204

Charge for year

1,785

5,135

636

7,556

At 31 March 2022

17,624

27,440

2,696

47,760

NET BOOK VALUE

At 31 March 2022

10,928

31,023

1,584

43,535

At 31 March 2021

10,318

5,008

361

15,687

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

31,150

At 31 March 2022

31,150

DEPRECIATION

Charge for year

3,883

At 31 March 2022

3,883

NET BOOK VALUE

At 31 March 2022

27,267

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/22

31/3/21

£

£

Trade debtors

16,712

18,467

Other debtors

1,468

790

18,180

19,257

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/22

31/3/21

£

£

Bank loans and overdrafts

6,212

15,060

Hire purchase contracts

5,745

134

Trade creditors

36,256

4,148

Taxation and social security

3,014

11,999

Other creditors

1,858

5,883

53,085

37,224

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/22

31/3/21

£

£

Bank loans

20,728

26,940

Hire purchase contracts

22,863

-

43,591

26,940