Company Registration No. 07248771 (England and Wales)
AGM DESIGN LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2016
AGM DESIGN LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
AGM DESIGN LTD
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
3,030
3,786
Current assets
Debtors
52
-
Cash at bank and in hand
708
1,462
760
1,462
Creditors: amounts falling due within one year
(10,527)
(11,055)
Net current liabilities
(9,767)
(9,593)
Total assets less current liabilities
(6,737)
(5,807)
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
(6,738)
(5,808)
Shareholders' funds
(6,737)
(5,807)
For the financial year ended 31 May 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 8 August 2016
Mr Alan Marriott
Director
Company Registration No. 07248771
AGM DESIGN LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 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 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:
Plant and machinery
20% reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 June 2015 & at 31 May 2016
10,178
Depreciation
At 1 June 2015
6,391
Charge for the year
757
At 31 May 2016
7,148
Net book value
At 31 May 2016
3,030
At 31 May 2015
3,786
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary of £1 each
1
1