Registered number
06709736
AGL Financial Group Limited
Unaudited Filleted Accounts
30 September 2017
AGL Financial Group Limited
Registered number: 06709736
Balance Sheet
as at 30 September 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 3 1,112 1,667
1,112 1,667
Current assets
Debtors 4 108,205 174,624
Cash at bank and in hand 1,388 266
109,593 174,890
Creditors: amounts falling due within one year 5 (55,253) (75,578)
Net current assets 54,340 99,312
Total assets less current liabilities 55,452 100,979
Creditors: amounts falling due after more than one year 6 (15,145) (27,145)
Net assets 40,307 73,834
Capital and reserves
Called up share capital 100 100
Profit and loss account 40,207 73,734
Shareholders' funds 40,307 73,834
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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Craig T Gibson
Director
Approved by the board on 5 June 2018
AGL Financial Group Limited
Notes to the Accounts
for the year ended 30 September 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2017 2016
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Total
£ £
Cost
At 1 October 2016 16,001 16,001
Additions - -
Surplus on revaluation - -
Disposals (13,779) (13,779)
At 30 September 2017 2,222 2,222
Depreciation
At 1 October 2016 14,334 14,334
Charge for the year 555 555
Surplus on revaluation - -
On disposals (13,779) (13,779)
At 30 September 2017 1,110 1,110
Net book value
At 30 September 2017 1,112 1,112
At 30 September 2016 1,667 1,667
4 Debtors 2017 2016
£ £
Trade debtors 31,855 -
Other debtors 76,350 174,624
108,205 174,624
Amounts due after more than one year included above - -
5 Creditors: amounts falling due within one year 2017 2016
£ £
Trade creditors 17,371 14,352
Taxation and social security costs 1,321 41,652
Other creditors 36,561 19,574
55,253 75,578
6 Creditors: amounts falling due after one year 2017 2016
£ £
Other creditors 15,145 27,145
15,145 27,145
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Craig T Gibson 47,137 (5,853) 41,284
47,137 - (5,853) 41,284
8 Controlling party
The controlling party was Mr C T Gibson.
9 Other information
AGL Financial Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
1st Floor
2 Woodberry Grove
North Finchley
London
N12 0DR
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