Registered number: 06792329
Balance Sheet
as at 31 January 2018
Notes 2018 2017
£ £
Fixed assets
Tangible assets 2 2,723 3,180
Current assets
Stocks 750 1,750
Debtors 3 - 2,119
Cash at bank and in hand 21,164 14,440
21,914 18,309
Creditors: amounts falling due within one year 4 (17,848) (9,163)
Net current assets 4,066 9,146
Net assets 6,789 12,326
Capital and reserves
Called up share capital 100 100
Profit and loss account 6,689 12,226
Shareholders' funds 6,789 12,326
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.
Mr Genci Cjeci
Approved by the board on 8 May 2018
Notes to the Accounts
for the year ended 31 January 2018
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.
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 15% on reducing balance
Motor Vehicles 25% on reducing balance
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
At 1 February 2017 3,103 3,850 6,953
Additions 215 - 215
At 31 January 2018 3,318 3,850 7,168
At 1 February 2017 1,547 2,226 3,773
Charge for the year 266 406 672
At 31 January 2018 1,813 2,632 4,445
Net book value
At 31 January 2018 1,505 1,218 2,723
At 31 January 2017 1,556 1,624 3,180
[For revalued assets, state the years in which the assets were valued and their values. For assets revalued during the reporting period, state the names of the persons who revalued them or particulars of their qualifications for doing so and the bases of valuation used by them.]
3 Debtors 2018 2017
£ £
Other debtors - 2,119
4 Creditors: amounts falling due within one year 2018 2017
£ £
Corporation tax 18,590 2,473
Other taxes and social security costs (935) 6,124
Other creditors 193 566
17,848 9,163
5 Other information
A & G PROPERTY CONSTRUCTION LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
1 Daybrook Road, London SW19 3DJ
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