REGISTERED NUMBER: 03132577 (England and Wales)

A.G.S. ACOUSTIC MATERIALS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

5

DIRECTOR:

A R Grummitt

REGISTERED OFFICE:

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

BUSINESS ADDRESS:

16 - 18 Digby Drive

Leicester Road Industrial Estate

Melton Mowbray

Leicestershire

LE13 0RQ

REGISTERED NUMBER:

03132577 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

26 Park Road

Melton Mowbray

Leicestershire

LE13 1TT

BANKERS:

HSBC

17 High Street

Melton Mowbray

Leicestershire

LE13 0TY

FIXED ASSETS

Tangible assets

4

3,256

5,755

CURRENT ASSETS

Stocks

65,470

60,195

Debtors

5

67,158

97,377

Cash at bank and in hand

148,329

181,573

280,957

339,145

CREDITORS

Amounts falling due within one year

6

51,288

113,480

NET CURRENT ASSETS

229,669

225,665

TOTAL ASSETS LESS CURRENT LIABILITIES

232,925

231,420

PROVISIONS FOR LIABILITIES

541

1,016

NET ASSETS

232,384

230,404

CAPITAL AND RESERVES

Called up share capital

50

50

Capital redemption reserve

50

50

Retained earnings

232,284

230,304

SHAREHOLDERS' FUNDS

232,384

230,404

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

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 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 14 July 2017 and were signed by:

A R Grummitt - Director

1.	STATUTORY INFORMATION

A.G.S. Acoustic Materials Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" 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 cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost and 15% on cost

Stocks

Stocks are valued at the lower of cost and fair value less costs to complete and sell after making due allowance

for slow moving and obsolete items.

Taxation

Taxation for the year 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 that have been

enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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 year 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.

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 year was 4 (2015 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2016

and 31 December 2016

18,471

DEPRECIATION

At 1 January 2016

12,716

Charge for year

2,499

At 31 December 2016

15,215

NET BOOK VALUE

At 31 December 2016

3,256

At 31 December 2015

5,755

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

65,613

96,040

Prepayments

1,545

1,337

67,158

97,377

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

34,456

74,454

Taxation

7,353

15,055

Other taxes and social security

8,034

22,526

Accrued expenses

1,445

1,445

51,288

113,480

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £25,000 (2015 - £10,000) were paid to the director .

8.	FIRST YEAR ADOPTION

There were no adjustments required on transition to FRS 102.