AGS_CARPENTRY_LIMITED - Accounts

AGS CARPENTRY LIMITED - Company Information

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Company Registration No. 05668075 (England and Wales)

AGS CARPENTRY LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

AGS CARPENTRY LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

AGS CARPENTRY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

16,026

34,218

Current assets

Debtors

180,781

78,785

Cash at bank and in hand

48,095

63,519

228,876

142,304

Creditors: amounts falling due within one year

(115,234)

(127,977)

Net current assets

113,642

14,327

Total assets less current liabilities

129,668

48,545

Creditors: amounts falling due after more than one year

(2,303)

(15,751)

Provisions for liabilities

(1,568)

(3,569)

125,797

29,225

Capital and reserves

Called up share capital

100

Profit and loss account

125,697

29,125

Shareholders' funds

125,797

29,225

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 17 June 2016

R Leishman

J C Hayes

Director

Company Registration No. 05668075

AGS CARPENTRY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

25% reducing balance

Fixtures, fittings & equipment

25% reducing balance

Motor vehicles

25% reducing balance

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.6

Pensions

The company has issued share options to certain directors and employees. These financial statements have been prepared in accordance with Financial Reporting Standard for Small Entities which does not require equity-settled share based payment arrangements to be recognised as an expense.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

AGS CARPENTRY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2015

72,161

Additions

2,755

Disposals

(36,985)

At 31 March 2016

37,931

Depreciation

At 1 April 2015

37,942

On disposals

(21,382)

Charge for the year

5,345

At 31 March 2016

21,905

Net book value

At 31 March 2016

16,026

At 31 March 2015

34,218

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £3,948 (2015 - £12,850).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £2,303 (2015 - £15,751).

Share capital

2016

2015

Allotted, called up and fully paid

100 ordinary of £1 each

100