Abbreviated Company Accounts - AGL WEALTH MANAGEMENT LIMITED

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Registered Number 06911689

AGL WEALTH MANAGEMENT LIMITED

Abbreviated Accounts

28 September 2016

AGL WEALTH MANAGEMENT LIMITED Registered Number 06911689

Abbreviated Balance Sheet as at 28 September 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	135	272
		135	272
Current assets
Debtors		157,723	144,600
Cash at bank and in hand		2,640	5,678
		160,363	150,278
Creditors: amounts falling due within one year		(137,331)	(149,611)
Net current assets (liabilities)		23,032	667
Total assets less current liabilities		23,167	939
Total net assets (liabilities)		23,167	939
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		23,067	839
Shareholders' funds		23,167	939

For the year ending 28 September 2016 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 25 June 2017

And signed on their behalf by:
Craig T Cibson, Director

AGL WEALTH MANAGEMENT LIMITED Registered Number 06911689

Notes to the Abbreviated Accounts for the period ended 28 September 2016

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 January 2015).

Turnover policy
Turnover represents the value of goods provided to customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery 20% straight line

Other accounting policies
Leasing and hire purchase commitments
"Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term."

Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2Tangible fixed assets

	£
Cost
At 29 September 2015	2,279
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 28 September 2016	2,279
Depreciation
At 29 September 2015	2,007
Charge for the year	137
On disposals	-
At 28 September 2016	2,144
Net book values
At 28 September 2016	135
At 28 September 2015	272

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
75 A Ordinary shares of £1 each	75	75
8 B Ordinary shares of £1 each	8	8
8 C Ordinary shares of £1 each	8	8
8 D Ordinary shares of £1 each	8	8
1 E Ordinary share of £1 each	1	1

4Transactions with directors

Name of director receiving advance or credit:	Craig T Gibson
Description of the transaction:	Loan from the company
Balance at 29 September 2015:	£ 113,804
Advances or credits made:	£ 76,992
Advances or credits repaid:	£ 76,992
Balance at 28 September 2016:	£ 113,804

Included in debtors is an amount of £113,804 (2015 £113,804) owed by Mr C T Gibson a director of the company. Interest of 3% has been charged on overdrawn balances during the year. There are no fixed terms of repayment.