A.G.C. LTD Small abbreviated accounts

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COMPANY REGISTRATION NUMBER 04807989

A.G.C. LTD

UNAUDITED ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED

31 March 2016

A.G.C. LTD

ABBREVIATED BALANCE SHEET

31 March 2016

		2016		2015
Note		£	£	£	£
FIXED ASSETS	2
Tangible assets			563,335		564,738

CURRENT ASSETS

Debtors		47,342		62,093
Cash at bank and in hand		641		1,059
		--------		--------
		47,983		63,152
CREDITORS: Amounts falling due within one year	3	179,474		235,280
		---------		---------
NET CURRENT LIABILITIES			( 131,491)		( 172,128)
			---------		---------
TOTAL ASSETS LESS CURRENT LIABILITIES			431,844		392,610

CREDITORS: Amounts falling due after more than one year	4	279,612	297,187
		---------	---------
		152,232	95,423
		---------	---------

CAPITAL AND RESERVES

Called up equity share capital	5	5	5
Revaluation reserve		287,852	287,852
Profit and loss account		( 135,625)	( 192,434)
		---------	---------
SHAREHOLDERS' FUNDS		152,232	95,423
		---------	---------

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

Director's responsibilities:

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

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

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

These abbreviated accounts were approved and signed by the director and authorised for issue on 20 December 2016 .

Mr R Norton Director

Company Registration Number: 04807989

A.G.C. LTD

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 31ST MARCH 2016

1. ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

The turnover shown in the profit and loss account represents amounts received during the year, as adjusted for monies received in advance for future periods.

Fixed assets

All fixed assets are initially recorded at cost. The caravan park has been revalued by the directors to reflect its current market value.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant & Machinery - 25% Reducing Balance

Caravans - 10% Straight Line

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.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

2. FIXED ASSETS

	Tangible Assets
	£

COST OR VALUATION

At 1st April 2015	608,572
Additions	499
Disposals	( 16,120)
	---------
At 31st March 2016	592,951
	---------

DEPRECIATION

At 1st April 2015	43,834
Charge for year	1,498
On disposals	( 15,716)
	--------
At 31st March 2016	29,616
	--------

NET BOOK VALUE

At 31st March 2016	563,335
	---------

At 31st March 2015	564,738
	---------

The caravan park was revalued from it's original cost of £334,256 in the year ended 31st October 2005. The revalued amount of £560,717 reflects the current market value of the asset.

3. CREDITORS: Amounts falling due within one year

The following liabilities disclosed under creditors falling due within one year are secured by the company:

	2016	2015
	£	£
Bank loans and overdrafts	22,443	28,657
	--------	--------

4. CREDITORS: Amounts falling due after more than one year

The following liabilities disclosed under creditors falling due after more than one year are secured by the company:

	2016	2015
	£	£
Bank loans and overdrafts	279,612	297,187
	---------	---------

5. SHARE CAPITAL

Allotted, called up and fully paid:

	2016		2015
	No.	£	No.	£
Ordinary shares of £ 1 each	5	5	5	5
	----	----	----	----

6. CONTROL

The company was under the control of Mr R Norton who owns 60% of the company's share capital.