ADVANCED_GLOBAL_PRODUCTIO

ADVANCED GLOBAL PRODUCTIONS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

29 FEBRUARY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

3,433

4,278

Current assets

Stocks

825,995

1,046,270

Debtors

152,607

127,403

Cash at bank and in hand

523,979

321,588

1,502,581

1,495,261

Creditors: amounts falling due within one year

(534,729)

(416,373)

Net current assets

967,852

1,078,888

Total assets less current liabilities

971,285

1,083,166

Creditors: amounts falling due after more than one year

(200,000)

971,285

883,166

Capital and reserves

Called up share capital

100

Profit and loss account

971,185

883,066

Shareholders' funds

971,285

883,166

For the financial year ended 29 February 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 7 October 2016

Mr M Magid

Director

Company Registration No. 04952494

ADVANCED GLOBAL PRODUCTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 29 FEBRUARY 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.

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:

Plant and machinery

Computer equipment

33% straight line

Fixtures, fittings & equipment

15% reducing balance

1.5

Stock

Stock is valued at the lower of cost and net realisable value.

1.6

Revenue recognition

Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for the sale of goods.

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.

1.8

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

ADVANCED GLOBAL PRODUCTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 29 FEBRUARY 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 March 2015 & at 29 February 2016

19,216

Depreciation

At 1 March 2015

14,938

Charge for the year

845

At 29 February 2016

15,783

Net book value

At 29 February 2016

3,433

At 28 February 2015

4,278

Share capital

2016

2015

Allotted, called up and fully paid

50 Ordinary 'A' shares of £1 each

50 Ordinary 'B' shares of £1 each

100