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Registration number: 10927118

Aggreforce Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2023

 

Aggreforce Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Aggreforce Ltd

Company Information

Director

Matthew Holt

Registered office

Walnut House
Sandholme
Brough
East Yorkshire
HU15 2XW

Accountants

Paul Bloor
8 Brough Road
South Cave
Brough
East Yorkshire
HU15 2BX

 

Aggreforce Ltd

(Registration number: 10927118)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

246,562

123,903

Current assets

 

Debtors

5

59,514

44,113

Cash at bank and in hand

 

27,027

5,904

 

86,541

50,017

Creditors: Amounts falling due within one year

6

(106,569)

(74,537)

Net current liabilities

 

(20,028)

(24,520)

Total assets less current liabilities

 

226,534

99,383

Creditors: Amounts falling due after more than one year

6

(97,284)

(39,114)

Net assets

 

129,250

60,269

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

129,249

60,268

Shareholders' funds

 

129,250

60,269

For the financial year ending 31 August 2023 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 their 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 22 November 2023
 

.........................................
Matthew Holt
Director

 

Aggreforce Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

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

The address of its registered office is:
Walnut House
Sandholme
Brough
East Yorkshire
HU15 2XW
England

These financial statements were authorised for issue by the director on 22 November 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

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.

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

Motor Vehicles

25% straight line basis

 

Aggreforce Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Office Equipment

20% straight line basis

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Aggreforce Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2022 - 3).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2022

85,000

4,394

138,427

227,821

Additions

5,360

6,007

152,726

164,093

Disposals

-

-

(65,182)

(65,182)

At 31 August 2023

90,360

10,401

225,971

326,732

Depreciation

At 1 September 2022

-

1,874

102,044

103,918

Charge for the year

-

880

40,554

41,434

Eliminated on disposal

-

-

(65,182)

(65,182)

At 31 August 2023

-

2,754

77,416

80,170

Carrying amount

At 31 August 2023

90,360

7,647

148,555

246,562

At 31 August 2022

85,000

2,520

36,383

123,903

Included within the net book value of land and buildings above is £90,360 (2022 - £85,000) in respect of freehold land and buildings.
 

 

Aggreforce Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

5

Debtors

Current

2023
£

2022
£

Trade debtors

59,514

44,113

 

Aggreforce Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

69,752

49,824

Taxation and social security

 

3,239

3,374

Accruals and deferred income

 

31,025

20,064

Other creditors

 

2,553

1,275

 

106,569

74,537

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

97,284

39,114

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

16,951

22,647

Hire purchase contracts

80,333

16,467

97,284

39,114

2023
£

2022
£

Current loans and borrowings

Other borrowings

69,752

49,824

 

Aggreforce Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

9

Related party transactions

 

Aggreforce Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

9,369

8,767