Registered number
07024827
AGS Technical Solutions Ltd
Report and Unaudited Accounts
31 October 2023
Collins
Chartered Accountants
West Midlands
AGS Technical Solutions Ltd
Registered number: 07024827
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £ £ £
Fixed assets
Tangible assets 3 323,615 331,858
Current assets
Stocks 9,776 10,390
Debtors 4 296,336 284,879
Cash at bank and in hand 305,013 552,603
611,125 847,872
Creditors: amounts falling due within one year 5 (94,270) (72,195)
Net current assets 516,855 775,677
Total assets less current liabilities 840,470 1,107,535
Provisions for liabilities (5,289) (6,856)
Net assets 835,181 1,100,679
Capital and reserves
Called up share capital 50 75
Share premium 25 25
Capital redemption reserve 25 -
Profit and loss account 835,081 1,100,579
Shareholders' funds 835,181 1,100,679
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J E Smith
Director
Approved by the board on 12 February 2024
AGS Technical Solutions Ltd
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 (as applicable to small companies), The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery and office 20% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 8 10
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2022 295,775 76,666 63,278 435,719
At 31 October 2023 295,775 76,666 63,278 435,719
Depreciation
At 1 November 2022 - 61,100 42,761 103,861
Charge for the year - 3,114 5,129 8,243
At 31 October 2023 - 64,214 47,890 112,104
Net book value
At 31 October 2023 295,775 12,452 15,388 323,615
At 31 October 2022 295,775 15,566 20,517 331,858
4 Debtors 2023 2022
£ £
Trade debtors 277,550 266,716
Prepayments and accrued income 18,786 18,163
296,336 284,879
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 35,280 34,710
Corporation tax 10,173 17,528
Other taxes and social security costs 41,236 8,378
Directors loans 1,011 7,637
Accruals and deferred income 6,570 3,942
94,270 72,195
6 Pension commitments
The company operates a defined contribution pension scheme for the directors. The assets of the scheme are administered by trustees in a fund independent from those of the company.

The contributions paid in the year amounted to £111,000 (2022: £42,000) at 31 October there were no amounts outstanding.
7 Controlling party
There is no ultimate controlling party.
8 Other information
AGS Technical Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Brywood House
Boulton Road
Solihull
West Midlands
B91 2JU
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