AGS Scaffolding (S.E) Ltd - Period Ending 2015-03-31

Registration number: 06846145

AGS Scaffolding (S.E) Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Shaikh & Co Ltd
Chartered Certified Accountants
10 Decimus Park
Kingstanding Way
Tunbridge Wells
Kent
TN2 3GP

AGS Scaffolding (S.E) Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
AGS Scaffolding (S.E) Ltd
for the Year Ended 31 March 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AGS Scaffolding (S.E) Ltd for the year ended 31 March 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of AGS Scaffolding (S.E) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of AGS Scaffolding (S.E) Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AGS Scaffolding (S.E) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that AGS Scaffolding (S.E) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of AGS Scaffolding (S.E) Ltd. You consider that AGS Scaffolding (S.E) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of AGS Scaffolding (S.E) Ltd. 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 statutory accounts.

......................................

Shaikh & Co Ltd
Chartered Certified Accountants
10 Decimus Park
Kingstanding Way
Tunbridge Wells
Kent
TN2 3GP

17 June 2015

Page 1

AGS Scaffolding (S.E) Ltd
(Registration number: 06846145)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					583,679			374,927
Current assets
Stocks					20,000			80,000
Debtors					495,880			348,845
Cash at bank and in hand					42,993			846
					558,873			429,691
Creditors: Amounts falling due within one year					(768,267)			(555,224)
Net current liabilities					(209,394)			(125,533)
Total assets less current liabilities					374,285			249,394
Creditors: Amounts falling due after more than one year					(166,325)			(172,500)
Net assets					207,960			76,894
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					207,860			76,794
Shareholders' funds					207,960			76,894

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 17 June 2015

.........................................
Mr Andrew Thomas Green
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

AGS Scaffolding (S.E) Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life.

Asset class	Depreciation method and rate
Office equipment	20% on reducing balance
Motor vehicles	25% on reducing balance
Plant	2% on reducing balance

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

AGS Scaffolding (S.E) Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		467,318			467,318
Additions		231,297			231,297
At 31 March 2015		698,615			698,615
Depreciation
At 1 April 2014		92,391			92,391
Charge for the year		22,545			22,545
At 31 March 2015		114,936			114,936
Net book value
At 31 March 2015		583,679			583,679
At 31 March 2014		374,927			374,927

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		292,017			178,090

Included in the creditors are the following amounts due after more than five years:

		2015 £			2014 £
After more than five years by instalments		42,500			68,500

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 4