AGL Corporate Merchandising Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04598840 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2021

for

AGL Corporate Merchandising Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

Mrs A Lloyd

REGISTERED OFFICE:

101 Dixons Green Road

Dudley

West Midlands

DY2 7DJ

REGISTERED NUMBER:

04598840 (England and Wales)

ACCOUNTANTS:

Neil Westwood & Co.

Chartered Accountants

101 Dixons Green Road

Dudley

West Midlands

DY2 7DJ

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 AGL Corporate Merchandising Ltd for the year ended 31st December 2021 which comprise the Statement of Income and Retained Earnings, 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 AGL Corporate Merchandising Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of AGL Corporate Merchandising Ltd and state those matters that we have agreed to state to the director of AGL Corporate Merchandising Ltd 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 AGL Corporate Merchandising Ltd and its director for our work or for this report.

It is your duty to ensure that AGL Corporate Merchandising Ltd 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 AGL Corporate Merchandising Ltd. You consider that AGL Corporate Merchandising Ltd 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 AGL Corporate Merchandising Ltd. 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.

Neil Westwood & Co.

Chartered Accountants

101 Dixons Green Road

Dudley

West Midlands

DY2 7DJ

27th June 2022

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

61

120

61

120

CURRENT ASSETS

Stocks

1,174

1,700

Debtors

6

42,563

35,098

Cash at bank and in hand

8,076

26,003

51,813

62,801

CREDITORS

Amounts falling due within one year

7

26,934

32,897

NET CURRENT ASSETS

24,879

29,904

TOTAL ASSETS LESS CURRENT LIABILITIES

24,940

30,024

CREDITORS

Amounts falling due after more than one year

8

23,908

29,000

NET ASSETS

1,032

1,024

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

32

24

1,032

1,024

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27th June 2022 and were signed by:

Mrs A Lloyd - Director

1.	STATUTORY INFORMATION

AGL Corporate Merchandising Ltd 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

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 2002, is being amortised evenly over its estimated useful life of fifteen 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.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st January 2021

and 31st December 2021

46,000

AMORTISATION

At 1st January 2021

and 31st December 2021

46,000

NET BOOK VALUE

At 31st December 2021

-

At 31st December 2020

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st January 2021

and 31st December 2021

1,339

2,079

3,418

DEPRECIATION

At 1st January 2021

1,267

2,031

3,298

Charge for year

11

48

59

At 31st December 2021

1,278

2,079

3,357

NET BOOK VALUE

At 31st December 2021

61

-

61

At 31st December 2020

72

48

120

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

10,487

8,002

Other debtors

32,076

27,096

42,563

35,098

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

12,266

16,108

Trade creditors

4,279

8,985

Taxation and social security

9,166

6,959

Other creditors

1,223

845

26,934

32,897

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

23,908

29,000

2021

2020

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

23,908

29,000

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2021 and 31st December 2020:

2021

2020

£

£

Mrs A Lloyd

Balance outstanding at start of year

7,730

3,104

Amounts advanced

8,480

7,730

Amounts repaid

(4,550

)

(3,104

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

11,660

7,730

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs A Lloyd.