AGT ELECTRICAL (EXETER) LIMITED,Ltd - AccountsLtd

For the year ended 31 December 2016

AGT ELECTRICAL (EXETER) LIMITED

Director's Report

The director presents his report and accounts for the year ended 31 December 2016.

Principal activities

The principal activity of the company continued to be that of electrical engineers.

Director

The director who served the company throughout the year was as follows:

Michael James Ireland

Signed on behalf of the board of directors

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

Date:

21 August 2017

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For the year ended 31 December 2016

AGT ELECTRICAL (EXETER) LIMITED

Statement of Income and Retained Earnings

2015

2016

Turnover

706,139

654,219

(275,182)

Cost of sales

(580,700)

379,037

Gross profit

125,439

Distribution costs

(277)

(1,780)

Administrative expenses

(96,241)

(356,225)

(96,518)

(358,005)

Operating profit

28,921

21,032

159

161

Income from other fixed asset investments

Other interest receivable and similar income

124

165

283

29,086

21,315

Profit before taxation

(6,061)

(4,338)

Taxation

23,025

Profit for the financial year

16,977

Retained earnings at 01 January 2016

427,750

410,773

Dividends paid and payable for the year

(5,000)

Retained earnings at 31 December 2016

445,775

427,750

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As at 31 December 2016

AGT ELECTRICAL (EXETER) LIMITED

Statement of Financial Position

Registered Number :

01176584

2015

2016

Notes

Fixed assets

Property, plant and equipment

1,106

Current assets

Inventories

19,045

Trade and other receivables

804

428

Financial assets

450

439,177

Cash and cash equivalents

490,922

491,800

459,476

Trade and other payables: amounts falling due within one

year

(32,732)

(45,925)

426,744

445,875

Net current assets

Total assets less current liabilities

445,875

427,850

445,875

Net assets

427,850

Capital and reserves

Called up share capital

Retained earnings

445,775

427,750

Other reserves

445,875

427,850

Shareholders' funds

For the year ended 31 December 2016 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006

The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section

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.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

Michael James Ireland

These financial statements were approved and authorised for issue by the Board on 21 August 2017 and were signed by:

The notes form part of these financial statements

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For the year ended 31 December 2016

AGT ELECTRICAL (EXETER) LIMITED

Notes to the Financial Statements

Statutory Information

AGT ELECTRICAL (EXETER) LIMITED is a private limited company, limited by shares, domiciled in England and

Wales, registration number 01176584.

Registered address:

Francis Close

Wardrew Road

Exeter

Devon

EX4 1HD

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial

Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the

Companies Act 2006. The financial statements have been prepared under the historical costs convention as

modified by the revaluation of certain assets.

Revenue recognition

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Property, plant and equipment

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and machinery

18 % Reducing balance

Motor vehicles

Inventories

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.

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For the year ended 31 December 2016

AGT ELECTRICAL (EXETER) LIMITED

Notes to the Financial Statements Continued

2. Property, plant and equipment

Total

Motor vehicles

Plant and

machinery

Cost or

valuation

At 01 January 2016

43,651

23,775

19,876

11,655

Additions

(500)

Disposals

(500)

At 31 December 2016

31,031

23,775

54,806

Provision for depreciation and impairment

At 01 January 2016

42,545

23,775

18,770

Charge for year

12,261

At 31 December 2016

54,806

23,775

31,031

At 31 December 2016

Net book value

At 31 December 2015

1,106

3. Trade and other receivables

2015

2016

Trade debtors

235

Other debtors

428

569

804

428

4. Financial instruments at fair value

2015

2016

Other investments

450

5. Trade and other payables: amounts falling due within one year

2015

2016

Trade creditors

4,939

Taxation and social security

37,990

26,893

Other creditors

7,934

900

45,925

32,732

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For the year ended 31 December 2016

AGT ELECTRICAL (EXETER) LIMITED

Notes to the Financial Statements Continued

6. Related party transactions

No transactions with related parties were undertaken such as are required to be disclosed under

FRSSE.

The company was under the control of Mr M.J. Ireland throughout the current and previouse year. Mr M.J. Ireland is

the managing director and majority shareholder.

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