AG (Management Services) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC339541 (Scotland)

Financial Statements for the Year Ended 31 December 2021

for

AG (Management Services) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D Gaffney

G Coster

R Boyd

C Richardson

REGISTERED OFFICE:

231 St Vincent Street

Glasgow

G2 5QY

REGISTERED NUMBER:

SC339541 (Scotland)

AUDITORS:

McLay McAlister & McGibbon LLP

Chartered Accountants and Statutory Auditors

145 St Vincent Street

Glasgow

G2 5JF

FIXED ASSETS

Tangible assets

4

14,353

15,597

CURRENT ASSETS

Debtors

5

978,562

1,244,480

Cash at bank and in hand

420,739

937,341

1,399,301

2,181,821

CREDITORS

Amounts falling due within one year

6

(321,354

)

(1,046,457

)

NET CURRENT ASSETS

1,077,947

1,135,364

TOTAL ASSETS LESS CURRENT LIABILITIES

1,092,300

1,150,961

CREDITORS

Amounts falling due after more than one year

7

(247,153

)

(363,056

)

NET ASSETS

845,147

787,905

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

845,146

787,904

845,147

787,905

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 22 December 2022 and were signed on its behalf by:

R Boyd - Director

1.	STATUTORY INFORMATION

AG (Management Services) Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 represents net invoiced sales of services, excluding value added tax.

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.

Plant and machinery etc

-

25% on cost

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

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 31 (2020 - 33 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2021

145,049

Additions

7,427

At 31 December 2021

152,476

DEPRECIATION

At 1 January 2021

129,452

Charge for year

8,671

At 31 December 2021

138,123

NET BOOK VALUE

At 31 December 2021

14,353

At 31 December 2020

15,597

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

31,515

109,562

Amounts owed by group undertakings

722,061

794,741

Other debtors

224,986

340,177

978,562

1,244,480

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade creditors

40,961

53,460

Amounts owed to group undertakings

-

578,137

Taxation and social security

134,270

329,123

Other creditors

146,123

85,737

321,354

1,046,457

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Other creditors

247,153

363,056

8.	LEASING AGREEMENTS

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

31.12.21

31.12.20

£

£

Within one year

16,683

6,840

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

The Report of the Auditors was unqualified.

Paul Martin (Senior Statutory Auditor)

for and on behalf of McLay McAlister & McGibbon LLP

10.	CAPITAL COMMITMENTS

31.12.21

31.12.20

£

£

Contracted but not provided for in the

financial statements

79,512

-

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption available in Section 33.1A of FRS 102 whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.

12.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

13.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Ambassador Group Holdings Limited, a company incorporated in Scotland. The ultimate controlling party is D Gaffney by virtue of his 100% shareholding in Ambassador Group Holdings Limited.

Ambassador Group Holdings Limited is the largest group for which consolidated financial statements are prepared which include these results. A copy of the consolidated financial statements can be obtained from the registered office:

110 Queen Street

Glasgow

G1 3BX