REGISTERED NUMBER: 03759066 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 30 April 2016

for

AGK Limited

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

A G Kagdadia

SECRETARY:

J P A Kagdadia

REGISTERED OFFICE:

246 Narborough Road

Leicester

Leicestershire

LE3 2AP

REGISTERED NUMBER:

03759066 (England and Wales)

The director presents his report with the financial statements of the company for the year ended 30 April 2016.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of audit, accountancy and taxation services.

DIRECTOR

A G Kagdadia held office during the whole of the period from 1 May 2015 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

For and on behalf of the board

J P A Kagdadia - Secretary

3 January 2017

TURNOVER

264,917

279,153

Distribution costs

729

642

Administrative expenses

144,966

131,771

145,695

132,413

119,222

146,740

Other operating income

28,792

28,235

OPERATING PROFIT

2

148,014

174,975

Interest receivable and similar income

173

407

PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION

148,187

175,382

Tax on profit on ordinary activities

3

29,298

34,972

PROFIT FOR THE FINANCIAL YEAR

118,889

140,410

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

60,716

61,121

Investment property

7

746,029

392,013

806,745

453,134

CURRENT ASSETS

Debtors

8

82,070

81,025

Cash at bank

101,838

67,843

183,908

148,868

CREDITORS

Amounts falling due within one year

9

111,784

49,513

NET CURRENT ASSETS

72,124

99,355

TOTAL ASSETS LESS CURRENT LIABILITIES

878,869

552,489

CREDITORS

Amounts falling due after more than one year

10

300,000

-

NET ASSETS

578,869

552,489

CAPITAL AND RESERVES

Called up share capital

12

400

300

Profit and loss account

13

578,469

552,189

SHAREHOLDERS' FUNDS

578,869

552,489

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by the director on 3 January 2017 and were signed by:

A G Kagdadia - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill

Goodwill is to be ammortised on a straight line basis over 10 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	OPERATING PROFIT

The operating profit is stated after charging:

30.4.16

30.4.15

£

£

Depreciation - owned assets

405

539

Pension costs

10,600

10,600

Director's remuneration and other benefits etc

14,550

14,400

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

30.4.16

30.4.15

£

£

Current tax:

UK corporation tax

29,298

34,972

Tax on profit on ordinary activities

29,298

34,972

4.

DIVIDENDS

30.4.16

30.4.15

£

£

Ordinary shares of £1 each

Final

65,530

77,500

A Ordinary Shares shares of £1 each

Final

14,732

15,420

B Ordinary Shares shares of £1 each

Final

12,347

12,680

92,609

105,600

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2015

and 30 April 2016

56,000

AMORTISATION

At 1 May 2015

and 30 April 2016

56,000

NET BOOK VALUE

At 30 April 2016

-

At 30 April 2015

-

6.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 May 2015

and 30 April 2016

59,500

24,529

2,800

86,829

DEPRECIATION

At 1 May 2015

-

23,189

2,519

25,708

Charge for year

-

335

70

405

At 30 April 2016

-

23,524

2,589

26,113

NET BOOK VALUE

At 30 April 2016

59,500

1,005

211

60,716

At 30 April 2015

59,500

1,340

281

61,121

7.	INVESTMENT PROPERTY

Total

£

COST

At 1 May 2015

392,013

Additions

354,016

At 30 April 2016

746,029

NET BOOK VALUE

At 30 April 2016

746,029

At 30 April 2015

392,013

8.

DEBTORS

30.4.16

30.4.15

£

£

Amounts falling due within one year:

Trade debtors

34,072

33,832

Other debtors

3,498

2,693

37,570

36,525

Amounts falling due after more than one year:

Other debtors

44,500

44,500

Aggregate amounts

82,070

81,025

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.16

30.4.15

£

£

Taxation and social security

40,942

48,107

Other creditors

70,842

1,406

111,784

49,513

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.16

30.4.15

£

£

Other creditors

300,000

-

11.	OPERATING LEASE COMMITMENTS

The following operating lease payments are committed to be paid within one year:

30.4.16

30.4.15

£

£

Expiring:

Between one and five years

145

-

In more than five years

6,300

6,300

6,445

6,300

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.16

30.4.15

value:

£

£

100

Ordinary

£1

100

100

100

A Ordinary Shares

£1

100

100

100

B Ordinary Shares

£1

100

100

50

C Ordinary Shares

£1

50

-

50

D Ordinary Shares

£1

50

-

400

300

The following shares were issued during the year for cash at par :

50 C Ordinary Shares shares of £1

50 D Ordinary Shares shares of £1

13.

RESERVES

Profit

and loss

account

£

At 1 May 2015

552,189

Profit for the year

118,889

Dividends

(92,609

)

At 30 April 2016

578,469

14.	ULTIMATE CONTROLLING PARTY

The executive control of the company rests with Mr A G Kagdadia.