Abbreviated Company Accounts - A G N FENCING LIMITED

A G N FENCING LIMITED Registered Number 01145113

Abbreviated Balance Sheet as at 31 October 2012

	Notes	2012	2011
		£	£
Fixed assets
Tangible assets	2	9,600	16,352
		9,600	16,352
Current assets
Stocks		18,973	49,925
Debtors		152,404	133,547
Cash at bank and in hand		2	19
		171,379	183,491
Creditors: amounts falling due within one year	3	(158,324)	(172,053)
Net current assets (liabilities)		13,055	11,438
Total assets less current liabilities		22,655	27,790
Creditors: amounts falling due after more than one year	3	(57,370)	(22,385)
Total net assets (liabilities)		(34,715)	5,405
Capital and reserves
Called up share capital	4	1,560	1,560
Other reserves		2,440	2,440
Profit and loss account		(38,715)	1,405
Shareholders' funds		(34,715)	5,405

For the year ending 31 October 2012 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 24 July 2013

And signed on their behalf by:
S Jones, Director

A G N FENCING LIMITED Registered Number 01145113

Notes to the Abbreviated Accounts for the period ended 31 October 2012

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Other accounting policies
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

2Tangible fixed assets

	£
Cost
At 1 November 2011	266,848
Additions	-
Disposals	(173,890)
Revaluations	-
Transfers	-
At 31 October 2012	92,958
Depreciation
At 1 November 2011	250,496
Charge for the year	6,751
On disposals	(173,889)
At 31 October 2012	83,358
Net book values
At 31 October 2012	9,600
At 31 October 2011	16,352

All fixed assets are initially recorded at cost.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant & Machinery - 20% straight line
Motor Vehicles - 20% straight line
Equipment - 10% straight

3Creditors

	2012 £	2011 £
Secured Debts	113,066	40,163

4Called Up Share Capital
Allotted, called up and fully paid:

	2012 £	2011 £
1,560 Ordinary shares of £1 each	1,560	1,560