Agar Hygiene Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 04464583 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2022

FOR

AGAR HYGIENE LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

91,000

105,250

Tangible assets

5

44,963

18,074

135,963

123,324

CURRENT ASSETS

Stocks

110,910

148,711

Debtors

6

196,731

186,362

Cash at bank and in hand

157,627

201,028

465,268

536,101

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

7

(359,638

)

(389,617

)

NET CURRENT ASSETS

105,630

146,484

TOTAL ASSETS LESS CURRENT LIABILITIES

241,593

269,808

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

8

(101,456

)

(125,000

)

PROVISIONS FOR LIABILITIES

(8,340

)

(3,186

)

NET ASSETS

131,797

141,622

CAPITAL AND RESERVES

Called up share capital

6

6

Share premium

15,840

15,840

Retained earnings

115,951

125,776

SHAREHOLDERS' FUNDS

131,797

141,622

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2022.

The members have not required the Company to obtain an audit of its financial statements for the year ended 30th June 2022 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 31st March 2023 and were signed on its behalf by:

Mr A G Khatri - Director

1.	STATUTORY INFORMATION

Agar Hygiene Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

04464583

Registered office:

Unit V Castle Business Park

Hockey Close

Loughborough

Leicestershire

LE11 5GW

The presentation currency of the financial statements is the Pound Sterling (£).

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 consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

GOODWILL

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Goodwill paid for the acquisition of business in 2019 is being amortised evenly over its estimated useful life of ten 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 the cost less estimated residual value of each asset over its estimated useful life.

Fixtures, fittings and office equipment

-

20% on reducing balance

STOCKS

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using weighted average cost method.

The cost of finished goods comprises those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 statement of financial position date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 7 (2021 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st July 2021

and 30th June 2022

155,000

AMORTISATION

At 1st July 2021

49,750

Charge for year

14,250

At 30th June 2022

64,000

NET BOOK VALUE

At 30th June 2022

91,000

At 30th June 2021

105,250

5.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

and

office

equipment

£

COST

At 1st July 2021

72,304

Additions

32,351

At 30th June 2022

104,655

DEPRECIATION

At 1st July 2021

54,230

Charge for year

5,462

At 30th June 2022

59,692

NET BOOK VALUE

At 30th June 2022

44,963

At 30th June 2021

18,074

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/6/22

30/6/21

£

£

Trade debtors

177,855

162,679

Other debtors

18,876

23,683

196,731

186,362

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/6/22

30/6/21

£

£

Bank loans and overdrafts

7,593

3,107

Trade creditors

115,341

139,892

Taxation and social security

37,207

74,185

Other creditors

199,497

172,433

359,638

389,617

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/6/22

30/6/21

£

£

Other creditors

101,456

125,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

30/6/22

30/6/21

£

£

Other creditors

101,456

125,000

Other creditors represents loan from company's pension scheme which is secured by way of fixed and floating charge against all the property or undertaking of the company.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30th June 2022 and 30th June 2021:

30/6/22

30/6/21

£

£

Mr P W Hunt and Mr A G Khatri

Balance outstanding at start of year

(161,309

)

(230,111

)

Amounts advanced

32,033

128,802

Amounts repaid

(60,000

)

(60,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(189,276

)

(161,309

)

During the year the company paid rent of £37,500 (2021: £35,410) for the property which is jointly owned by the directors and parties connected to them.

All transactions were conducted on a normal commercial basis.