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REGISTERED NUMBER: 11433391 (England and Wales)















A. G. SMILES LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






A. G. SMILES LTD (REGISTERED NUMBER: 11433391)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A. G. SMILES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mrs Z H Alsafi
Mrs J R Gordon





REGISTERED OFFICE: 6 Carlisle Parade
Carlisle Parade
Hastings
East Sussex
TN34 1JG





REGISTERED NUMBER: 11433391 (England and Wales)





ACCOUNTANTS: Spurling Cannon
King Arthur’s Court
Maidstone Road
Charing
Kent
TN27 0JS

A. G. SMILES LTD (REGISTERED NUMBER: 11433391)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 24,000 28,000
Tangible assets 5 80,287 91,722
104,287 119,722

CURRENT ASSETS
Debtors 6 4,200 4,435
Cash at bank and in hand 7,331 8,705
11,531 13,140
CREDITORS
Amounts falling due within one year 7 67,613 44,119
NET CURRENT LIABILITIES (56,082 ) (30,979 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

48,205

88,743

CREDITORS
Amounts falling due after more than one
year

8

47,548

73,988
NET ASSETS 657 14,755

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 11 655 14,753
SHAREHOLDERS' FUNDS 657 14,755

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

A. G. SMILES LTD (REGISTERED NUMBER: 11433391)

BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2023 and were signed on its behalf by:




Mrs J R Gordon - Director



Mrs Z H Alsafi - Director


A. G. SMILES LTD (REGISTERED NUMBER: 11433391)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

A. G. Smiles Ltd 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on reducing balance
Plant and machinery - 25% on reducing balance
Fixture & Fittings - 25% on reducing balance
Computer equipment - 33% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

A. G. SMILES LTD (REGISTERED NUMBER: 11433391)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 40,000
AMORTISATION
At 1 April 2022 12,000
Charge for year 4,000
At 31 March 2023 16,000
NET BOOK VALUE
At 31 March 2023 24,000
At 31 March 2022 28,000

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Fixture & Computer
property machinery Fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 90,399 37,344 - 4,453 132,196
Additions - - 1,090 - 1,090
At 31 March 2023 90,399 37,344 1,090 4,453 133,286
DEPRECIATION
At 1 April 2022 18,179 19,788 - 2,507 40,474
Charge for year 7,222 4,389 272 642 12,525
At 31 March 2023 25,401 24,177 272 3,149 52,999
NET BOOK VALUE
At 31 March 2023 64,998 13,167 818 1,304 80,287
At 31 March 2022 72,220 17,556 - 1,946 91,722

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments and accrued income 4,200 4,000
Prepayments - 435
4,200 4,435

A. G. SMILES LTD (REGISTERED NUMBER: 11433391)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 6,416 6,891
Other loans (see note 9) 16,223 12,563
Corporation Tax 17,746 19,322
Social security and other taxes - 1,858
Directors' current accounts 177 1,794
Accrued expenses 27,051 1,691
67,613 44,119

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 9) 22,556 29,114
Other loans (see note 9) 24,992 44,874
47,548 73,988

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 6,416 6,891
Other loans 16,223 12,563
22,639 19,454

Amounts falling due between one and two years:
Bank loans - 1-5 years 22,556 29,114

Amounts falling due between two and five years:
Other loans - 1-5 years 24,992 44,874

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary 1 2 2

A. G. SMILES LTD (REGISTERED NUMBER: 11433391)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

11. RESERVES
Retained
earnings
£   

At 1 April 2022 14,753
Profit for the year 76,902
Dividends (91,000 )
At 31 March 2023 655