Company Registration No. 04956175 (England and Wales)
AGM AGENCIES (MIDLANDS) LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2016
AGM AGENCIES (MIDLANDS) LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
AGM AGENCIES (MIDLANDS) LTD
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2016
31 October 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
169,952
169,952
Current assets
Cash at bank and in hand
287,150
180,414
Creditors: amounts falling due within one year
(52,250)
(46,663)
Net current assets
234,900
133,751
Total assets less current liabilities
404,852
303,703
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
404,851
303,702
Shareholders' funds
404,852
303,703
For the financial year ended 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 his 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.
Approved by the Board for issue on 12 January 2017
Mr A Moreton
Director
Company Registration No. 04956175
AGM AGENCIES (MIDLANDS) LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
Not depreciated
Computer equipment
33% on cost
The director adopts a policy of continual maintenance on the freehold property owned by the company, and is therefore of the opinion that deprecation of the property is not necessary.
The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.
2
Fixed assets
Tangible assets
£
Cost
At 1 November 2015 & at 31 October 2016
170,502
Depreciation
At 1 November 2015 & at 31 October 2016
550
Net book value
At 31 October 2016
169,952
At 31 October 2015
169,952
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary of £1 each
1
1