Registered number
05068411
A & G SERVICES (UK) LIMITED
Unaudited Filleted Accounts
31 March 2017
TEMPLETONS (UK) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
A & G SERVICES (UK) LIMITED
Registered number: 05068411
Balance Sheet
as at 31 March 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 3 9,864 9,893
Current assets
Stocks 590 725
Debtors 4 82,120 37,522
Cash at bank and in hand 54,248 59,642
136,958 97,889
Creditors: amounts falling due within one year 5 (115,879) (83,152)
Net current assets 21,079 14,737
Net assets 30,943 24,630
Capital and reserves
Called up share capital 2 2
Profit and loss account 30,941 24,628
Shareholders' funds 30,943 24,630
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.
Mr Grzegorz Zawisza
Director
Approved by the board on 8 December 2017
A & G SERVICES (UK) LIMITED
Notes to the Accounts
for the year ended 31 March 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 25% reducing balance
Motor Vehicles 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Going concern
Notwithstanding the net asset deficiency, the financial statements have been prepared on a going concern basis, as in the opinion of the directors, the company has sufficient financial support from its creditors and shareholders to pay its debts as they fall due.
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2016 4,420 36,135 40,555
Additions 2,658 - 2,658
At 31 March 2017 7,078 36,135 43,213
Depreciation
At 1 April 2016 3,540 27,122 30,662
Charge for the year 885 1,802 2,687
At 31 March 2017 4,425 28,924 33,349
Net book value
At 31 March 2017 2,653 7,211 9,864
At 31 March 2016 880 9,013 9,893
4 Debtors 2017 2016
£ £
Other debtors 82,120 37,522
5 Creditors: amounts falling due within one year
Trade creditors 14,233 (137)
Other taxes and social security costs 30,448 7,401
Other creditors 71,198 75,888
115,879 83,152
6 Other information
A & G SERVICES (UK) LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
62
Thames Avenue
Perivale
Greenford
UB6 8JN
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