AG/CAD Limited - Accounts

AG/CAD Limited - Accounts

AG/CAD LIMITED - Company Information

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Registered Number: 02125890
England & Northern Ireland

 

 

 

AG/CAD LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

AG/CAD Limited
Contents Page
For the year ended 31 March 2023
Accountants' report on the financial statements to the directors of AG/CAD Limited.

In accordance with our terms of engagement and in order to assist you to fulfill your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 31 March 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement.  Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors, as a body, for our work or for this report.

You have acknowledged on the Balance Sheet as at year ended 31 March 2023 your duty to ensure that the company has kept the correct accounting records to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from statutory requirement for an audit for the period.

We have not been instructed to carry out an audit of the financial statements. 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 financial statements.




....................................................
Stonebridge Accountants
19a Chorley Old Road
Bolton
BL1 3AD
04 September 2023
1
 
 		 Notes
 		 2023
£		   2022
£
Fixed assets      
Tangible fixed assets 3 63,179    72,952 
63,179    72,952 
Current assets      
Stocks 62,466    86,752 
Debtors 391,412    132,981 
Cash at bank and in hand 2,594,253    2,742,299 
3,048,131    2,962,032 
Creditors: amount falling due within one year (745,151)   (877,879)
Net current assets 2,302,980    2,084,153 
 
Total assets less current liabilities 2,366,159    2,157,105 
Net assets 2,366,159    2,157,105 
 

Capital and reserves 		     
Called up share capital 4 45    45 
Capital Redemption Reserve 55    55 
Profit and loss account 2,366,059    2,157,005 
Shareholder's funds 2,366,159    2,157,105 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 04 September 2023 and were signed by:


-------------------------------
Mr Andrew B Boulton
Director
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General Information
AG/CAD Limited is a private company, limited by shares, registered in England & Northern Ireland, registration number 02125890, registration address Kasemake House, Barlow Drive, Woodford Park Industrial Estate, Winsford, CW7 2JZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company's liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.


Current and deferred tax assets and liabilities are not discounted.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.

Deferred tax is measured using 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.


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.

Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 15% Reducing Balance
Improvements to property 15% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 17 (2022 : 17).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Computer Equipment   Improvements to property   Total
  £   £   £   £   £
At 01 April 2022 156,891    28,653    29,941    11,153    226,638 
Additions -    -    8,920    -    8,920 
Disposals -    -    -    -    - 
At 31 March 2023 156,891    28,653    38,861    11,153    235,558 
Depreciation
At 01 April 2022 92,011    28,316    29,653    3,706    153,686 
Charge for year 16,220    51    2,273    149    18,693 
On disposals -    -    -    -    - 
At 31 March 2023 108,231    28,367    31,926    3,855    172,379 
Net book values
Closing balance as at 31 March 2023 48,660    286    6,935    7,298    63,179 
Opening balance as at 01 April 2022 64,880    337    288    7,447    72,952 


4.

Share Capital

Allotted, called up and fully paid
2023
£		   2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

3