A.G.C. LTD Company Accounts
A.G.C. LTD Company Accounts
COMPANY REGISTRATION NUMBER:
04807989
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For the year ended |
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Financial Statements |
Year ended 31 March 2017
Contents |
Page |
Officers and professional advisers |
1 |
Statement of financial position |
2 |
Notes to the financial statements |
4 |
The following pages do not form part of the financial statements
Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements |
9 |
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Officers and Professional Advisers |
Director |
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Company secretary |
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Registered office |
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Accountants |
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Chartered accountant |
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550 Valley Road |
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Basford |
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Nottingham |
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NG5 1JJ |
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Bankers |
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PO Box 64 |
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Southwell Road West |
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Mansfield |
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Nottinghamshire |
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NG18 4GS |
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Statement of Financial Position |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
4 |
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Current assets
Debtors |
5 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
6 |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
7 |
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Provisions
Taxation including deferred tax |
(
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(
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Net assets |
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Capital and reserves
Called up share capital |
8 |
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Revaluation reserve |
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Profit and loss account |
(
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(
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Members funds |
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In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
Director's responsibilities:
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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
;
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
18 December 2017
, and are signed on behalf of the board by:
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Director |
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Company registration number:
04807989
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Notes to the Financial Statements |
Year ended 31 March 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 550 Valley Road, Basford, Nottingham, NG5 1JJ.
2.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 10.
Revenue recognition
Income tax
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.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery |
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Caravans |
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Provisions
3.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2016:
4
).
4.
Tangible assets
Land and buildings |
Plant and machinery |
Caravans |
Total |
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£ |
£ |
£ |
£ |
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Cost or valuation |
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At 1 April 2016 |
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Additions |
– |
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– |
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Disposals |
– |
(
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– |
(
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Revaluations |
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– |
– |
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------- |
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At 31 March 2017 |
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Depreciation |
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At 1 April 2016 |
– |
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Charge for the year |
– |
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Disposals |
– |
(
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– |
(
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At 31 March 2017 |
– |
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Carrying amount |
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At 31 March 2017 |
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At 31 March 2016 |
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The caravan park was revalued from it's original cost of £334,256. The revalued amount of £900,000 reflects the current market value of the asset. The market value has been determined by the director.
5.
Debtors
2017 |
2016 |
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£ |
£ |
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Other debtors |
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6.
Creditors:
amounts falling due within one year
2017 |
2016 |
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£ |
£ |
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Bank loans and overdrafts |
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Social security and other taxes |
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Other creditors |
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Included in bank loans and overdrafts is a secured loan of £20,866 (2016: £22,444) of which repayments fall due within one year.
Also included in bank loans and overdrafts are loans totalling £12,000 (2016: £nil) which are personally guaranteed by the director.
7.
Creditors:
amounts falling due after more than one year
2017 |
2016 |
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£ |
£ |
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Bank loans and overdrafts |
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Included in bank loans and overdrafts is a secured loan of £261,383 (2016: £279,612), of which £177,902 of the repayments fall due after more than 5 years (2016: £196,132).
Also included in bank loans and overdrafts are loans totalling £53,319 (2016: £nil) which are personally guaranteed by the director. These amounts are repayable within 2 to 5 years.
8.
Called up share capital
Issued, called up and fully paid
2017 |
2016 |
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No. |
£ |
No. |
£ |
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5 |
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5 |
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9.
Director's advances, credits and guarantees
The director received net repayments of £26,481 (2016: £69,422) from his directors loan account. The amount owing to the director at the statement of financial position date was £35,869 (2016: £62,350). The directors loan is interest free, unsecured and repayable on demand.
10.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.
No transitional adjustments were required in equity or profit or loss for the year.
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Management Information |
Year ended 31 March 2017
The following pages do not form part of the financial statements.
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Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
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Year ended 31 March 2017
550 Valley Road
Basford
Nottingham
NG5 1JJ