AGM_Aerials_Limited_31_Oct_2016_abbreviated_set_of

AGM Aerials Limited

Abbreviated Balance Sheet

31 October 2016

		2016		2015
	Note	£		£
Fixed assets
Tangible assets	2	-		2,309
Current assets
Debtors		(4,065	)	6,733
Cash at bank and in hand		573		716
		(3,492	)	7,449
Creditors: amounts falling due within one year	3	6,088		(5,595	)
Net current assets		2,596		1,854
Total assets less current liabilities		2,596		4,163
Capital and reserves
Called up share capital	4	10		10
Profit and loss account		2,586		4,153
Shareholders funds		2,596		4,163

For the year ending

31 October 2016

, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

These abbreviated financial statements were approved by the board of directors and authorised for issue on

31 July 2017

, and are signed on behalf of the board by:

Mr Alex McIntyre

Director

Company registration number:

SC367596

AGM Aerials Limited

Notes to the Abbreviated Accounts

Year ended

31 October 2016

1 Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents amounts invoiced during the year, exclusive of Value Added Tax and trade discounts. Turnover is recognised when the seller obtains the right to consideration in exchange for its performance, usually on dispatch of the goods.

Current tax

Current tax is recognised in the profit and loss account, except to the extent that it is attributable to a gain or loss that has been recognised directly in the statement of total recognised gains or losses. In this case, tax is recognised in this statement. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and accumulated impairment losses.

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 and machinery	25% straight line
Motor vehicles	25% straight line

Financial instruments

Financial instruments are classified and accounted for according to the substance of contractual arrangements, as either financial assets, financial liabilities or equity instruments.

Operating leases

Leases are classified as operating leases where substantially all the benefits of ownerships remain with the lessor. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the lease term.

2 Tangible assets


	£
Cost
At 1 November 2015	17,345
At 31 October 2016	17,345
Depreciation
At 1 November 2015	15,036
Charge	2,309
At 31 October 2016	17,345
Net book value
At 31 October 2016	-
At 31 October 2015	2,309

3 Creditors: amounts falling due within one year

4 Called up share capital

Allotted, called up and fully paid

	2016				2015
	No.		£		No.		£
Ordinary Shares shares of £ 1.00 each	10		10		10		10