AGL Wealth Management Limited - Filleted accounts

Registered number

06911689

AGL Wealth Management Limited

Filleted Accounts

30 September 2017

AGL Wealth Management Limited
Registered number:		06911689
Balance Sheet
as at 30 September 2017

Notes			2017			2016
£				£
Fixed assets
Tangible assets	3		-			135
			-			135

Current assets
Debtors	4	225,715			157,723
Cash at bank and in hand		33,472			2,640
		259,187			160,363

Creditors: amounts falling due within one year	5	(121,703)			(137,331)

Net current assets			137,484			23,032

Total assets less current liabilities			137,484			23,167


Net assets			137,484			23,167

Capital and reserves
Called up share capital			100			100
Profit and loss account			137,384			23,067

Shareholders' funds			137,484			23,167

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Craig T Gibson
Director
Approved by the board on 5 June 2018

AGL Wealth Management Limited
Notes to the Accounts
for the year ended 30 September 2017


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			over 5 years

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.







2	Employees					2017		2016
Number							Number

	Average number of persons employed by the company					6		6


3	Tangible fixed assets
						Plant and machinery etc		Total
£							£
	Cost
	At 1 October 2016					2,279		2,279
	Additions					-		-
	Surplus on revaluation					-		-
	Disposals					-		-
	At 30 September 2017					2,279		2,279

	Depreciation
	At 1 October 2016					2,144		2,144
	Charge for the year					135		135
	Surplus on revaluation					-		-
	On disposals					-		-
	At 30 September 2017					2,279		2,279

	Net book value
	At 30 September 2017					-		-
	At 30 September 2016					135		135


4	Debtors					2017		2016
£							£

	Trade debtors					6,541		6,355
	Other debtors					172,230		122,917
						225,715		157,723

	Amounts due after more than one year included above					-		-


5	Creditors: amounts falling due within one year					2017		2016
£							£

	Trade creditors					19,430		-
	Taxation and social security costs					89,435		64,644
	Other creditors					12,838		72,687
						121,703		137,331


6	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	Craig T Gibson	113,804		56,902				170,706
		113,804		56,902		-		170,706



7	Controlling party

	The controlling party was Mr C T Gibson.


8	Other information

	AGL Wealth Management Limited is a private company limited by shares and incorporated in England. Its registered office is:
	1st Floor
	2 Woodberry Grove
	North Finchley
	London
	N12 0DR