Accounts filed on 30-04-2016
Accounts filed on 30-04-2016
trueA G P Europe Ltd071495912016-04-301444-87511445-8750111445-8750824409689-8750-10018-1175955280430724526231313241182356077537753133910197073009197073009Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The director considers the going concern basis appropriate because the company is currently trading profitably and operating within its banking facilities and terms offered by creditors.
Turnover
Turnover comprises the invoiced amounts exclusive of valued added tax of services and goods supplied after taking account of credits and discounts.Income is recognized when goods and services are delivered and the company has a right to receive consideration.
Stocks
Stock comprises parts for fitting and resale. Stock is valued at the lower of cost and net realisable value.Cost is calculated on a first in first out basis.
Finance lease agreements
Where the company enters into a lease which entails taking substantially all the risks and rewards
of ownership of an asset, the lease is treated as a finance lease. The asset is recorded in the
balance sheet as a tangible fixed asset and is depreciated in accordance with the above
depreciation policies. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account on a straight line basis, and the capital element which reduces the outstanding obligation for future instalments.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not
reversed at the balance sheet date where transactions or events have occurred at that date that
will result in an obligation to pay more, or a right to pay less or to receive more tax, with
the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments)
of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement
assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose
of the assets concerned. However, no provision is made where, on the basis of all available
evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled
over into replacement assets and charged to tax only where the replacement assets are sold.
Deferred tax assets are recognised only to the extent that the director considers that it is more
likely than not that there will be suitable taxable profits from which the future reversal of the
underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected
to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or
substantively enacted at the balance sheet date.
Fixed Assets
All fixed assets are recorded at cost of purchase.
Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Plant & MachineryMethod for Plant & equipment0.0000Fixtures & FittingsMethod for Fixtures & fittings0.0000Motor VehiclesMethod for Motor vehicles0.0000EquipmentMethod for Equipment0.00003231310657216561260676484958323131065721656126067648495882440Ordinary1111Ordinary11112017-01-22Mr P Clifftruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureA G P Europe Ltd2015-05-012016-04-30A G P Europe Ltd2014-05-012015-04-30A G P Europe Ltd2014-04-30A G P Europe Ltd2015-04-30A G P Europe Ltd2015-04-30A G P Europe Ltd2016-04-30 2017-01-25
