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REGISTERED NUMBER: 04763833 (England and Wales)
























AGT ELECTRICS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






AGT ELECTRICS LIMITED (REGISTERED NUMBER: 04763833)

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


AGT ELECTRICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: G P Manzi





REGISTERED OFFICE: 6-7 Castle Gate
Castle Street
Hertford
Hertfordshire
SG14 1HD





REGISTERED NUMBER: 04763833 (England and Wales)





ACCOUNTANTS: TC Group
6-7 Castle Gate
Castle Street
Hertford
Hertfordshire
SG14 1HD

AGT ELECTRICS LIMITED (REGISTERED NUMBER: 04763833)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,216 1,619

CURRENT ASSETS
Debtors 5 11,839 30,580
Cash at bank 361 115
12,200 30,695
CREDITORS
Amounts falling due within one year 6 8,107 14,639
NET CURRENT ASSETS 4,093 16,056
TOTAL ASSETS LESS CURRENT LIABILITIES 5,309 17,675

CREDITORS
Amounts falling due after more than
one year

7

(37,243

)

(24,631

)

PROVISIONS FOR LIABILITIES - (620 )
NET LIABILITIES (31,934 ) (7,576 )

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings (31,938 ) (7,580 )
(31,934 ) (7,576 )

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 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.

AGT ELECTRICS LIMITED (REGISTERED NUMBER: 04763833)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 August 2023 and were signed by:





G P Manzi - Director


AGT ELECTRICS LIMITED (REGISTERED NUMBER: 04763833)

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


1. STATUTORY INFORMATION

AGT Electrics 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 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

AGT ELECTRICS LIMITED (REGISTERED NUMBER: 04763833)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 4,536 12,676 17,212
DEPRECIATION
At 1 April 2022 4,310 11,283 15,593
Charge for year 56 347 403
At 31 March 2023 4,366 11,630 15,996
NET BOOK VALUE
At 31 March 2023 170 1,046 1,216
At 31 March 2022 226 1,393 1,619

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 11,277 26,521
Other debtors 562 4,059
11,839 30,580

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,092 7,440
Taxation and social security 1,030 3,214
Other creditors 3,985 3,985
8,107 14,639

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 37,243 24,631

8. RELATED PARTY DISCLOSURES

During the year the director, Mr Manzi, loaned the company money with no set repayment date or interest payable. The amount owed to the director at the year end was £37,243 (2022: £24,631).

9. ULTIMATE CONTROLLING PARTY

During the year, the company was controlled by Mr & Mrs Manzi (director and company secretary) by virtue of each holding 50% of the issued ordinary share capital.

AGT ELECTRICS LIMITED (REGISTERED NUMBER: 04763833)

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


10. GOING CONCERN

The directors recognises that the company has an insolvent balance sheet and confirm that they will continue to support the company personally until it is in a solvent position again.