AGS North West Limited 09378740 false 2021-02-01 2022-01-31 2022-01-31 The principal activity of the company is engineering solutions and repairs for agricultural, renewable energy and AD sectors Digita Accounts Production Advanced 6.30.9574.0 true true 09378740 2021-02-01 2022-01-31 09378740 2022-01-31 09378740 core:RetainedEarningsAccumulatedLosses 2022-01-31 09378740 core:ShareCapital 2022-01-31 09378740 core:CurrentFinancialInstruments 2022-01-31 09378740 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 09378740 core:FurnitureFittingsToolsEquipment 2022-01-31 09378740 core:MotorVehicles 2022-01-31 09378740 core:OtherPropertyPlantEquipment 2022-01-31 09378740 bus:SmallEntities 2021-02-01 2022-01-31 09378740 bus:AuditExemptWithAccountantsReport 2021-02-01 2022-01-31 09378740 bus:FullAccounts 2021-02-01 2022-01-31 09378740 bus:SmallCompaniesRegimeForAccounts 2021-02-01 2022-01-31 09378740 bus:RegisteredOffice 2021-02-01 2022-01-31 09378740 bus:Director1 2021-02-01 2022-01-31 09378740 bus:PrivateLimitedCompanyLtd 2021-02-01 2022-01-31 09378740 core:FurnitureFittingsToolsEquipment 2021-02-01 2022-01-31 09378740 core:MotorVehicles 2021-02-01 2022-01-31 09378740 core:OfficeEquipment 2021-02-01 2022-01-31 09378740 core:OtherPropertyPlantEquipment 2021-02-01 2022-01-31 09378740 core:PlantMachinery 2021-02-01 2022-01-31 09378740 countries:AllCountries 2021-02-01 2022-01-31 09378740 2021-01-31 09378740 core:FurnitureFittingsToolsEquipment 2021-01-31 09378740 core:MotorVehicles 2021-01-31 09378740 core:OtherPropertyPlantEquipment 2021-01-31 09378740 2020-02-01 2021-01-31 09378740 2021-01-31 09378740 core:RetainedEarningsAccumulatedLosses 2021-01-31 09378740 core:ShareCapital 2021-01-31 09378740 core:CurrentFinancialInstruments 2021-01-31 09378740 core:CurrentFinancialInstruments core:WithinOneYear 2021-01-31 09378740 core:FurnitureFittingsToolsEquipment 2021-01-31 09378740 core:MotorVehicles 2021-01-31 09378740 core:OtherPropertyPlantEquipment 2021-01-31 iso4217:GBP xbrli:pure

Registration number: 09378740

AGS North West Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2022

 

AGS North West Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

AGS North West Limited

Company Information

Director

Mr C W Wright

Registered office

The Station House
Station Road
Whalley
Lancashire
BB7 9RT

 

AGS North West Limited

(Registration number: 09378740)
Balance Sheet as at 31 January 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

72,644

86,994

Current assets

 

Debtors

5

1,019

3,244

Cash at bank and in hand

 

17,852

21,629

 

18,871

24,873

Creditors: Amounts falling due within one year

6

(43,922)

(46,702)

Net current liabilities

 

(25,051)

(21,829)

Total assets less current liabilities

 

47,593

65,165

Provisions for liabilities

(13,908)

(16,529)

Net assets

 

33,685

48,636

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

33,585

48,536

Shareholders' funds

 

33,685

48,636

For the financial year ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 9 August 2022
 

.........................................
Mr C W Wright
Director

 

AGS North West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
The Station House
Station Road
Whalley
Lancashire
BB7 9RT
Great Britain

The principal place of business is:
47 Marsh Lane
Longton
Preston
Lancashire
PR4 5ZL

These financial statements were authorised for issue by the director on 9 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

AGS North West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Motor vehicles

25% reducing balance

Office equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

AGS North West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 February 2021

1,409

21,150

129,278

151,837

Additions

332

-

-

332

At 31 January 2022

1,741

21,150

129,278

152,169

Depreciation

At 1 February 2021

748

11,668

52,427

64,843

Charge for the year

228

2,927

11,527

14,682

At 31 January 2022

976

14,595

63,954

79,525

Carrying amount

At 31 January 2022

765

6,555

65,324

72,644

At 31 January 2021

661

9,482

76,851

86,994

5

Debtors

2022
£

2021
£

Trade debtors

1,019

823

VAT debtor

-

2,074

Corporation tax

-

347

Total current trade and other debtors

1,019

3,244

 

AGS North West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Trade creditors

 

5,310

1,468

Amounts owed to directors

33,615

44,069

PAYE and VAT

 

378

12

Corporation tax

 

3,466

-

Accrued expenses

 

1,153

1,153

 

43,922

46,702