REGISTERED NUMBER: |
Unaudited Financial Statements |
for the period |
31 March 2016 to 29 March 2017 |
for |
AGL Care Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the period |
31 March 2016 to 29 March 2017 |
for |
AGL Care Limited |
AGL Care Limited (Registered number: 03923406) |
Contents of the Financial Statements |
for the period 31 March 2016 to 29 March 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
AGL Care Limited |
Company Information |
for the period 31 March 2016 to 29 March 2017 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Warden House |
37 Manor Road |
Colchester |
Essex |
CO3 3LX |
AGL Care Limited (Registered number: 03923406) |
Balance Sheet |
29 March 2017 |
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
AGL Care Limited (Registered number: 03923406) |
Balance Sheet - continued |
29 March 2017 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors on |
AGL Care Limited (Registered number: 03923406) |
Notes to the Financial Statements |
for the period 31 March 2016 to 29 March 2017 |
1. | STATUTORY INFORMATION |
AGL Care Limited is a |
registered number and registered office address can be found on the Company Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Plant and machinery etc | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
Financial instruments |
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible |
preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit |
or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes |
recognised in profit or loss. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
AGL Care Limited (Registered number: 03923406) |
Notes to the Financial Statements - continued |
for the period 31 March 2016 to 29 March 2017 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the |
timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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 profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 31 March 2016 |
and 29 March 2017 |
AMORTISATION |
At 31 March 2016 |
and 29 March 2017 |
NET BOOK VALUE |
At 29 March 2017 |
At 30 March 2016 |
AGL Care Limited (Registered number: 03923406) |
Notes to the Financial Statements - continued |
for the period 31 March 2016 to 29 March 2017 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 31 March 2016 |
Additions |
At 29 March 2017 |
DEPRECIATION |
At 31 March 2016 |
Charge for period |
At 29 March 2017 |
NET BOOK VALUE |
At 29 March 2017 |
At 30 March 2016 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 31 March 2016 |
Revaluations | 47,866 |
At 29 March 2017 |
NET BOOK VALUE |
At 29 March 2017 |
At 30 March 2016 |
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is |
provided on these gains at the rate expected to apply when the property is sold. |
Fair value at 29 March 2017 is represented by: |
£ |
Valuation in 2015 | 9,710 |
Valuation in 2016 | 27,500 |
Valuation in 2017 | 47,866 |
Cost | 1,034,924 |
1,120,000 |
AGL Care Limited (Registered number: 03923406) |
Notes to the Financial Statements - continued |
for the period 31 March 2016 to 29 March 2017 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 233,720 | 296,382 |
10. | RESERVES |
Fair |
value |
reserve |
£ |
At 31 March 2016 |
Transfer | 38,771 |
At 29 March 2017 |
11. | RELATED PARTY DISCLOSURES |
During the period, total dividends of £27,000 (2016 - £50,000) were paid to the directors . |
At the year end the company owed £109 to the Director Mr A G Ludhor (2016 - £519). This loan is unsecured, |
interest free and repayable on demand. |
AGL Care Limited (Registered number: 03923406) |
Notes to the Financial Statements - continued |
for the period 31 March 2016 to 29 March 2017 |
12. | FIRST YEAR ADOPTION |
This is the first year that the company has presented its financial statements under Financial Reporting Standard |
102 Section 1A (FRS 102 1A) issued by the Financial Reporting Council. The last financial statements prepared |
under previous UK GAAP were for the year end 31 March 2016 and the date of the transition to FRS 102 1A |
was therefore 1 April 2015. As a consequence of adopting FRS 102 1A a number of accounting policies have |
changed to comply with the standard. |
FRS 102 requires investments to be revalued at each reporting date, being measured at fair value. Any change in |
fair value is required to be recognised in the profit and loss account. FRS 102 states that deferred tax must be |
recognised on any fair value adjustments at the applicable rate of tax. The impact of these adjustments at the date |
of transition can be seen in the Reconciliation of Equity 1 April 2015 note. The impact of the adjustments on the |
previous year's figures can be seen in the Reconciliation of Equity and Reconciliation of Profit 31 March 2016 |
note. |
Prior to the adoption of FRS 102, AGL Care Ltd did not make provision for holiday pay earned but not taken |
before the year end. FRS 102 requires the cost of short-term compensated absences to be recognised when |
employees render the service that increases their entitlement. |