AGI Global Logistics (DN) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11078412 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

FOR

AGI GLOBAL LOGISTICS (DN) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Ramirez

S J Sands

A P Wigginton

REGISTERED OFFICE:

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU

REGISTERED NUMBER:

11078412 (England and Wales)

AUDITORS:

Lawes & Co UK Limited (Statutory Auditors)

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU

FIXED ASSETS

Intangible assets

4

20,000

40,000

Tangible assets

5

26,083

8,378

46,083

48,378

CURRENT ASSETS

Debtors

6

2,556,284

1,723,809

Cash at bank

198,049

145,316

2,754,333

1,869,125

CREDITORS

Amounts falling due within one year

7

2,483,681

1,865,598

NET CURRENT ASSETS

270,652

3,527

TOTAL ASSETS LESS CURRENT LIABILITIES

316,735

51,905

CREDITORS

Amounts falling due after more than one year

8

(38,886

)

-

PROVISIONS FOR LIABILITIES

10

-

(1,592

)

NET ASSETS

277,849

50,313

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

277,749

50,213

SHAREHOLDERS' FUNDS

277,849

50,313

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 29 March 2022 and were signed on its behalf by:

S J Sands - Director

A P Wigginton - Director

1.	STATUTORY INFORMATION

AGI Global Logistics (DN) 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

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 on 30 November 2020, is being amortised evenly over its estimated useful life of 2 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

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 38 (2020 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2020

and 30 November 2021

40,000

AMORTISATION

Charge for year

20,000

At 30 November 2021

20,000

NET BOOK VALUE

At 30 November 2021

20,000

At 30 November 2020

40,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 December 2020

26,783

Additions

34,904

At 30 November 2021

61,687

DEPRECIATION

At 1 December 2020

18,405

Charge for year

17,199

At 30 November 2021

35,604

NET BOOK VALUE

At 30 November 2021

26,083

At 30 November 2020

8,378

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.21

30.11.20

£

£

Trade debtors

2,336,604

1,632,174

Other debtors

219,680

91,635

2,556,284

1,723,809

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.21

30.11.20

£

£

Bank loans and overdrafts

9,547

50,000

Trade creditors

2,040,990

1,450,616

Taxation and social security

107,569

159,557

Other creditors

325,575

205,425

2,483,681

1,865,598

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.21

30.11.20

£

£

Bank loans

38,886

-

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.11.21

30.11.20

£

£

Within one year

10,705

4,231

Between one and five years

11,667

705

22,372

4,936

10.	PROVISIONS FOR LIABILITIES

30.11.20

£

Deferred tax

Accelerated capital allowances

1,592

Deferred

tax

£

Balance at 1 December 2020

1,592

Other timing differences

(1,822

)

Balance at 30 November 2021

(230

)

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.21

30.11.20

value:

£

£

60

A Ordinary

£1

60

60

40

B Ordinary

£1

40

40

100

100

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Freeman ACA ACCA BA (Senior Statutory Auditor)

for and on behalf of Lawes & Co UK Limited (Statutory Auditors)

13.	PENSION COMMITMENTS

Included in other creditors are pension commitments paid after the balance sheet date of £2,555 (2020 £4,606).

14.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2021 and 30 November 2020:

30.11.21

30.11.20

£

£

J Ramirez

Balance outstanding at start of year

-

(5,606

)

Amounts advanced

-

49,050

Amounts repaid

-

(43,444

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

15.	RELATED PARTY DISCLOSURES

The directors maintain interest free loan accounts with the company. At the balance sheet date, the company owed a director £89,278 (2020 £17,500).

Unless otherwise stated, all transactions with related parties are conducted under normal market conditions.

At the balance sheet date the company had the following amounts outstanding to related entities.

Entities over which the directors have significant influence or control

Amounts owed from related party

Amounts owed to related party

£

£

Atlantic Group International Limited

2020

-

108,997

2021

9,989

-

AGI Global Logistics Limited

2020

-

18,210

2021

-

193,266

AGI Global Logistics (CT) Limited

2020

3,788

-

2021

-

-

AGI Global Logistics (CO) Limited

2020

-

38,712

2021

-

-

AGI Global Logistics (SW) Limited

2020

9,358

-

2021

-

-

AGI Global Logistics (WA) Limited

2020

2,981

-

2021

-

-

AGI Property Holdings Limited

2020

20,000

-

2021

-

-

AGI Global Logistics (GLA) Limited

2020

2,760

-

2021

-

-

AGI Global Logistics (BHX) Limited

2020

6,322

-

2021

-

-

16.	ULTIMATE PARENT COMPANY

The ultimate parent company is Atlantic Group International Limited.

17.	ULTIMATE CONTROLLING PARTY

The company has no ultimate controlling party.