AGT Systems Ltd

		2015		2014
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	2		29,700		29,700
Tangible Assets	3		865		806

			30,565		30,506
CURRENT ASSETS
Debtors		5,972		3,705
Cash at bank and in hand		15,000		4,265

		20,972		7,970
Creditors: Amounts Falling Due Within One Year		(30,063 )		(24,327 )

NET CURRENT ASSETS (LIABILITIES)			(9,091 )		(16,357 )

TOTAL ASSETS LESS CURRENT LIABILITIES			21,474		14,149

NET ASSETS			21,474		14,149

CAPITAL AND RESERVES
Called up share capital	4		1		1
Share premium account			29,700		29,700
Profit and Loss Account			(8,227 )		(15,552 )

SHAREHOLDERS' FUNDS			21,474		14,149

AGT Systems Ltd

Company No. 07106017

Abbreviated Balance Sheet (continued) 31 December 2015

For the year ending 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

On behalf of the board

Mr Adrian Thompson

29/12/2016

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2. Turnover

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

1.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets.

1.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

25% straight line

2. Intangible Assets


	Total
Cost	£
As at 1 January 2015	29,700

As at 31 December 2015	29,700

Net Book Value
As at 31 December 2015	29,700

As at 1 January 2015	29,700

3. Tangible Assets


	Total
Cost	£
As at 1 January 2015	6,607
Additions	350

As at 31 December 2015	6,957

Depreciation
As at 1 January 2015	5,801
Provided during the period	291

As at 31 December 2015	6,092

Net Book Value
As at 31 December 2015	865

As at 1 January 2015	806

Page 2

AGT Systems Ltd

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 December 2015

4. Share Capital

	Value	Number	2015	2014
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.000	1	1	1

5. Ultimate Controlling Party

The company's ultimate controlling party is Mr Adrian Thompson by virtue of his ownership of 100% of the issued share capital in the company.