REGISTERED NUMBER: 06347671 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2016

for

AGS International Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A Gash

SECRETARY:

Mrs J Gash

REGISTERED OFFICE:

Lindrew

The Green

Waddingham

DN21 4SX

REGISTERED NUMBER:

06347671 (England and Wales)

FIXED ASSETS

Tangible assets

2

53,137

2,665

CURRENT ASSETS

Debtors

3

77,411

84,251

Prepayments and accrued income

202

5,668

Cash at bank

232

57

77,845

89,976

CREDITORS

Amounts falling due within one year

4

108,918

83,587

NET CURRENT (LIABILITIES)/ASSETS

(31,073

)

6,389

TOTAL ASSETS LESS CURRENT LIABILITIES

22,064

9,054

CREDITORS

Amounts falling due after more than one year

5

(15,614

)

(12,008

)

PROVISIONS FOR LIABILITIES

8

(2,293

)

(533

)

NET ASSETS/(LIABILITIES)

4,157

(3,487

)

CAPITAL AND RESERVES

Called up share capital

9

1

1

Profit and loss account

10

4,156

(3,488

)

SHAREHOLDERS' FUNDS

4,157

(3,487

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

The financial statements were approved by the director on 28 July 2017 and were signed by:

A Gash - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Deferred tax

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

balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 November 2015

2,856

3,000

5,856

Additions

2,578

69,950

72,528

Disposals

-

(12,950

)

(12,950

)

At 31 October 2016

5,434

60,000

65,434

DEPRECIATION

At 1 November 2015

1,140

2,051

3,191

Charge for year

639

9,653

10,292

Eliminated on disposal

-

(1,186

)

(1,186

)

At 31 October 2016

1,779

10,518

12,297

NET BOOK VALUE

At 31 October 2016

3,655

49,482

53,137

At 31 October 2015

1,716

949

2,665

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

57,000

At 31 October 2016

57,000

DEPRECIATION

Charge for year

8,230

At 31 October 2016

8,230

NET BOOK VALUE

At 31 October 2016

48,770

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

67,054

73,542

Other debtors

4,518

1,544

Directors' current accounts

5,839

9,165

77,411

84,251

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

10,752

6,040

Other loans

6,667

6,667

Hire purchase contracts

19,400

-

Trade creditors

38,274

58,728

Social security and other taxes

49

-

VAT

6,941

1,462

Other creditors

25,135

9,060

Accruals and deferred income

1,700

1,630

108,918

83,587

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Other loans - 1-2 years

4,047

6,667

Other loans - 2-5 years

-

5,341

Hire purchase contracts

11,567

-

15,614

12,008

6.	PREFERENCE SHARES

Details of preference shares are as follows:

7.	OPERATING LEASE COMMITMENTS

8.	PROVISIONS FOR LIABILITIES

2016

2015

£

£

Deferred tax

2,293

533

Deferred

tax

£

Balance at 1 November 2015

533

Provided during year

1,760

Accelerated capital allowances

Balance at 31 October 2016

2,293

The deferred tax balance is made up entirely of accelerated capital allowances.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

1

Ordinary

£1

1

1

10.

RESERVES

Profit

and loss

account

£

At 1 November 2015

(3,488

)

Profit for the year

7,644

At 31 October 2016

4,156

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2016 and

31 October 2015:

2016

2015

£

£

A Gash

Balance outstanding at start of year

9,166

18,501

Amounts advanced

54,197

62,180

Amounts repaid

(57,524

)

(71,515

)

Balance outstanding at end of year

5,839

9,166

Interest has been charged at the official rate of 3.00%.

There is no fixed repayment period.

12.	RELATED PARTY DISCLOSURES

The company owes a loan totalling £22,855 (2015 - £9,060) to Mrs J Gash. Mrs J Gash is a related party by

virtue of the fact she is a close family member of A Gash (director).

13.	ULTIMATE CONTROLLING PARTY

The Ultimate Controlling Party is Mr A Gash by virtue of his ownership of 100% of the issued ordinary share

capital of the company.