REGISTERED NUMBER: 07247218 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MAY 2016

FOR

AGS GLASS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

B J Smith

REGISTERED OFFICE:

St James's House

8 Overcliffe

Gravesend

Kent

DA11 0HJ

REGISTERED NUMBER:

07247218 (England and Wales)

ACCOUNTANTS:

The Carley Partnership

St James's House

8 Overcliffe

Gravesend

Kent

DA11 0HJ

FIXED ASSETS

Tangible assets

2

15,850

11,790

CURRENT ASSETS

Stocks

34,212

-

Debtors

169,495

91,024

Cash at bank

25,930

26,081

229,637

117,105

CREDITORS

Amounts falling due within one year

133,209

74,234

NET CURRENT ASSETS

96,428

42,871

TOTAL ASSETS LESS CURRENT LIABILITIES

112,278

54,661

PROVISIONS FOR LIABILITIES

1,874

2,358

NET ASSETS

110,404

52,303

CAPITAL AND RESERVES

Called up share capital

3

1,000

1,000

Profit and loss account

109,404

51,303

SHAREHOLDERS' FUNDS

110,404

52,303

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 14 February 2017 and were signed by:

B J Smith - 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 the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

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

Total

£

COST

At 1 June 2015

20,237

Additions

9,960

At 31 May 2016

30,197

DEPRECIATION

At 1 June 2015

8,447

Charge for year

5,900

At 31 May 2016

14,347

NET BOOK VALUE

At 31 May 2016

15,850

At 31 May 2015

11,790

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

900

Ordinary A

£1

900

900

100

Ordinary B

£1

100

100

1,000

1,000