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REGISTERED NUMBER: 07247218 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017

FOR

AGS GLASS LIMITED

AGS GLASS LIMITED (REGISTERED NUMBER: 07247218)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AGS GLASS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2017







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

AGS GLASS LIMITED (REGISTERED NUMBER: 07247218)

BALANCE SHEET
31 MAY 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,540 15,850

CURRENT ASSETS
Stocks 22,000 34,212
Debtors 5 71,488 169,495
Cash at bank - 25,930
93,488 229,637
CREDITORS
Amounts falling due within one year 6 73,994 133,209
NET CURRENT ASSETS 19,494 96,428
TOTAL ASSETS LESS CURRENT
LIABILITIES

40,034

112,278

CREDITORS
Amounts falling due after more than one
year

7

(6,199

)

-

PROVISIONS FOR LIABILITIES - (1,874 )
NET ASSETS 33,835 110,404

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 32,835 109,404
SHAREHOLDERS' FUNDS 33,835 110,404

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 27 February 2018 and were signed by:



B J Smith - Director


AGS GLASS LIMITED (REGISTERED NUMBER: 07247218)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017


1. STATUTORY INFORMATION

AGS Glass Limited is a private company, limited by shares , registered in England and Wales. The company's
registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
The company has adopted the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102. No
changes were required to the figures reported previously under UK GAAP to bring them into line with the new
standard, and so no reconciliation statements are provided.

These financial statements for the year ended 31 May 2017 are the first financial statements that comply with
FRS 102. The date of transition is 1 June 2015.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

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 is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in
bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws
that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of
the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

AGS GLASS LIMITED (REGISTERED NUMBER: 07247218)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2017


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2016 30,197
Additions 17,037
Disposals (10,804 )
At 31 May 2017 36,430
DEPRECIATION
At 1 June 2016 14,347
Charge for year 8,736
Eliminated on disposal (7,193 )
At 31 May 2017 15,890
NET BOOK VALUE
At 31 May 2017 20,540
At 31 May 2016 15,850

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 32,475 148,753
Other debtors 39,013 20,742
71,488 169,495

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Bank loans and overdrafts 270 -
Hire purchase contracts 2,501 -
Trade creditors 48,670 29,565
Taxation and social security 11,690 80,041
Other creditors 10,863 23,603
73,994 133,209

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2017 2016
£    £   
Hire purchase contracts 6,199 -

Obligations under hire purchase contracts are secured on the associated assets.

8. OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £11,050 (2016 : £19,550).