Registered number
04874289
A & G Home Improvements Ltd
Report and Accounts
31 March 2016
A & G Home Improvements Ltd
Profit and Loss Account
for the year ended 31 March 2016
Notes 2016 2015
£ £
Turnover 388,655 521,428
Cost of sales (286,211) (330,037)
Gross profit 102,444 191,391
Administrative expenses (82,015) (71,352)
Operating profit 2 20,429 120,039
Interest payable 3 - (1,529)
Profit on ordinary activities before taxation 20,429 118,510
Tax on profit on ordinary activities 4 (6,061) (18,780)
Profit for the financial year 14,368 99,730
A & G Home Improvements Ltd
Balance Sheet
as at 31 March 2016
Notes 2016 2015
£ £
Fixed assets
Tangible assets 5 30,871 41,160
Current assets
Stocks 7,676 5,722
Debtors 6 13,382 23,824
Cash at bank and in hand 36,298 52,944
57,356 82,490
Creditors: amounts falling due within one year 7 (52,321) (56,112)
Net current assets 5,035 26,378
Net assets 35,906 67,538
Capital and reserves
Called up share capital 8 750 750
Revaluation reserve 9 250 250
Profit and loss account 10 34,906 66,538
Shareholders' funds 35,906 67,538
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Alan Whitfield
Director
Approved by the board on 18 May 2016
A & G Home Improvements Ltd
Notes to the Accounts
for the year ended 31 March 2016
1 Accounting policies
Basis of preparation
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
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
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.
2 Operating profit 2016 2015
£ £
This is stated after charging:
Depreciation of owned fixed assets 10,289 8,489
Directors' remuneration 13,170 11,815
3 Interest payable 2016 2015
£ £
Interest payable - 1,529
4 Taxation 2016 2015
£ £
UK corporation tax 6,061 18,780
5 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2015 11,469 57,965 69,434
At 31 March 2016 11,469 57,965 69,434
Depreciation
At 1 April 2015 10,972 17,302 28,274
Charge for the year 124 10,165 10,289
At 31 March 2016 11,096 27,467 38,563
Net book value
At 31 March 2016 373 30,498 30,871
At 31 March 2015 497 40,663 41,160
6 Debtors 2016 2015
£ £
Trade debtors 13,372 23,774
Other debtors 10 50
13,382 23,824
7 Creditors: amounts falling due within one year 2016 2015
£ £
Trade creditors 32,858 18,330
Directors accounts 3,923 1,987
Corporation tax 6,032 18,747
Other taxes and social security costs 8,708 16,248
Other creditors 800 800
52,321 56,112
8 Share capital Nominal 2016 2016 2015
value Number £ £
Allotted, called up and fully paid:
A Ordinary shares £1 each 375 375 375
B Ordinary shares £1 each 375 375 375
750 750
9 Revaluation reserve 2016
£
At 1 April 2015 250
At 31 March 2016 250
10 Profit and loss account 2016
£
At 1 April 2015 66,538
Profit for the year 14,368
Dividends (46,000)
At 31 March 2016 34,906
11 Dividends 2016 2015
£ £
Dividends for which the company became liable during the year:
Dividends paid 46,000 48,000
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