Company Registration No. 03106597 (England and Wales)
AGI TRADING COMPANY LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 2013
AGI TRADING COMPANY LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
AGI TRADING COMPANY LIMITED
ABBREVIATED BALANCE SHEET
AS AT
28 FEBRUARY 2013
28 February 2013
- 1 -
2013
2012
Notes
£
£
£
£
Fixed assets
Tangible assets
2
140,191
208,636
Current assets
Stocks
23,898
102,839
Debtors
148,592
193,673
Cash at bank and in hand
117,433
207,206
289,923
503,718
Creditors: amounts falling due within one year
(357,080)
(540,213)
Net current liabilities
(67,157)
(36,495)
Total assets less current liabilities
73,034
172,141
Provisions for liabilities
(2,895)
(3,699)
70,139
168,442
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
70,039
168,342
Shareholders' funds
70,139
168,442
AGI TRADING COMPANY LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2013
28 February 2013
- 2 -
For the financial year ended 28 February 2013 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has 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 25 November 2013
A Akhtar
Director
Company Registration No. 03106597
AGI TRADING COMPANY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 2013
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 April 2008).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
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:
Land and buildings Leasehold
20% Straight Line
Plant and machinery
25% Reducing Balance
Fixtures, fittings & equipment
25% Reducing Balance
Motor vehicles
25% Reducing Balance
1.4
Stock
Stock is valued at the lower of cost and net realisable value.
1.5
Deferred taxation
Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the director, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.
1.6
Foreign currency translation
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
AGI TRADING COMPANY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2013
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 29 February 2012
701,456
Additions
3,991
At 28 February 2013
705,447
Depreciation
At 29 February 2012
492,820
Charge for the year
72,436
At 28 February 2013
565,256
Net book value
At 28 February 2013
140,191
At 28 February 2012
208,636
3
Share capital
2013
2012
£
£
Allotted, called up and fully paid
100 Ordinary Shares of £1 each
100
100