15
30/03/2023
2023-03-30
false
false
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No description of principal activities is disclosed
2022-03-31
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
04988642
2022-03-31
2023-03-30
04988642
2023-03-30
04988642
2022-03-30
04988642
2021-03-31
2022-03-30
04988642
2022-03-30
04988642
2021-03-30
04988642
core:IntangibleAssetsOtherThanGoodwill
2022-03-31
2023-03-30
04988642
core:PlantMachinery
2022-03-31
2023-03-30
04988642
core:FurnitureFittingsToolsEquipment
2022-03-31
2023-03-30
04988642
core:MotorVehicles
2022-03-31
2023-03-30
04988642
core:OnerousContractsExcludingVacantProperties
2022-03-31
2023-03-30
04988642
bus:RegisteredOffice
2022-03-31
2023-03-30
04988642
bus:LeadAgentIfApplicable
2022-03-31
2023-03-30
04988642
bus:Director1
2022-03-31
2023-03-30
04988642
bus:Director2
2022-03-31
2023-03-30
04988642
bus:CompanySecretary1
2022-03-31
2023-03-30
04988642
core:IntangibleAssetsOtherThanGoodwill
2023-03-30
04988642
core:LandBuildings
core:LongLeaseholdAssets
2022-03-30
04988642
core:PlantMachinery
2022-03-30
04988642
core:FurnitureFittingsToolsEquipment
2022-03-30
04988642
core:MotorVehicles
2022-03-30
04988642
core:LandBuildings
core:LongLeaseholdAssets
2023-03-30
04988642
core:PlantMachinery
2023-03-30
04988642
core:FurnitureFittingsToolsEquipment
2023-03-30
04988642
core:MotorVehicles
2023-03-30
04988642
core:WithinOneYear
2023-03-30
04988642
core:WithinOneYear
2022-03-30
04988642
core:AfterOneYear
2023-03-30
04988642
core:AfterOneYear
2022-03-30
04988642
core:RetainedEarningsAccumulatedLosses
2021-03-31
2022-03-30
04988642
core:RetainedEarningsAccumulatedLosses
2022-03-31
2023-03-30
04988642
core:ShareCapital
2023-03-30
04988642
core:ShareCapital
2022-03-30
04988642
core:RetainedEarningsAccumulatedLosses
2023-03-30
04988642
core:RetainedEarningsAccumulatedLosses
2022-03-30
04988642
core:ShareCapital
2021-03-30
04988642
core:RetainedEarningsAccumulatedLosses
2021-03-30
04988642
core:LandBuildings
core:LongLeaseholdAssets
2022-03-31
2023-03-30
04988642
core:LandBuildings
core:LongLeaseholdAssets
2022-03-30
04988642
core:PlantMachinery
2022-03-30
04988642
core:FurnitureFittingsToolsEquipment
2022-03-30
04988642
core:MotorVehicles
2022-03-30
04988642
bus:SmallEntities
2022-03-31
2023-03-30
04988642
bus:AuditExemptWithAccountantsReport
2022-03-31
2023-03-30
04988642
bus:FullAccounts
2022-03-31
2023-03-30
04988642
bus:SmallCompaniesRegimeForAccounts
2022-03-31
2023-03-30
04988642
bus:PrivateLimitedCompanyLtd
2022-03-31
2023-03-30
04988642
core:Associate1
2022-03-31
2023-03-30
04988642
core:Associate1
2021-03-31
2022-03-30
04988642
core:Associate2
2022-03-31
2023-03-30
04988642
core:Associate2
2021-03-31
2022-03-30
04988642
core:Associate3
2022-03-31
2023-03-30
04988642
core:Associate3
2021-03-31
2022-03-30
04988642
core:OtherPropertyPlantEquipment
2022-03-31
2023-03-30
04988642
core:Associate1
2023-03-30
04988642
core:Associate1
2022-03-30
04988642
core:Associate3
2023-03-30
04988642
core:Associate3
2022-03-30
04988642
core:WithinOneYear
2022-03-31
2023-03-30
04988642
core:AfterOneYear
2022-03-31
2023-03-30
04988642
core:AllAssociates
2022-03-31
2023-03-30
04988642
1
2022-03-31
2023-03-30
Company registration number:
04988642
Plexstar Limited
Unaudited filleted financial statements
30 March 2023
Plexstar Limited
Contents
Directors and other information
Accountant's report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Plexstar Limited
Directors and other information
|
|
|
|
Directors |
Mr Andrew Michael Baxter |
|
|
Mr Graham David Froggatt |
|
|
|
|
|
|
|
Secretary |
Graham David Froggatt |
|
|
|
|
|
|
|
Company number |
04988642 |
|
|
|
|
|
|
|
Registered office |
749A |
|
|
Ormskirk Road |
|
|
Wigan |
|
|
England |
|
|
WN5 8AT |
|
|
|
|
|
|
|
Business address |
Unit B Enterprise Court |
|
|
Seaman Way, Ince |
|
|
Wigan |
|
|
Lancashire |
|
|
WN2 2AG |
|
|
|
|
|
|
|
Accountant |
Practical Business Solutions (NW) Limited |
|
|
749A Ormskirk Road |
|
|
Pemberton |
|
|
Wigan |
|
|
Lancashire |
|
|
WN5 8AT |
|
|
|
Plexstar Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Plexstar Limited
Year ended 30 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Plexstar Limited for the year ended 30 March 2023 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of the Chartered Institute of Management Accountants , I am subject to its ethical and other professional requirements which are detailed at www.cimaglobal.com.
This report is made solely to the board of directors of Plexstar Limited, as a body, in accordance with the terms of my engagement letter. My work has been undertaken solely to prepare for your approval the financial statements of Plexstar Limited and state those matters that we have agreed to state to the board of directors of Plexstar Limited as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at www.cimaglobal.com. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Plexstar Limited and its board of directors as a body for my work or for this report.
It is your duty to ensure that Plexstar Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Plexstar Limited. You consider that Plexstar Limited is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Plexstar Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Practical Business Solutions (NW) Limited
Chartered Global Management Accountants
749A Ormskirk Road
Pemberton
Wigan
Lancashire
WN5 8AT
29 February 2024
Plexstar Limited
Statement of financial position
30 March 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5 |
16,943 |
|
|
|
- |
|
|
Tangible assets |
|
6 |
73,323 |
|
|
|
94,971 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
90,266 |
|
|
|
94,971 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
167,500 |
|
|
|
187,500 |
|
|
Debtors |
|
7 |
778,082 |
|
|
|
610,275 |
|
|
Cash at bank and in hand |
|
|
17 |
|
|
|
2,807 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
945,599 |
|
|
|
800,582 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
8 |
(
728,928) |
|
|
|
(
526,789) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
216,671 |
|
|
|
273,793 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
306,937 |
|
|
|
368,764 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
9 |
|
|
(
108,868) |
|
|
|
(
157,169) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
17,151) |
|
|
|
(
18,044) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
180,918 |
|
|
|
193,551 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
1,000 |
|
|
|
1,000 |
Profit and loss account |
|
|
|
|
179,918 |
|
|
|
192,551 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
180,918 |
|
|
|
193,551 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 30 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
29 February 2024
, and are signed on behalf of the board by:
Mr Andrew Michael Baxter
Mr Graham David Froggatt
Director
Director
Company registration number:
04988642
Plexstar Limited
Statement of changes in equity
Year ended 30 March 2023
|
|
Called up share capital |
|
Profit and loss account |
Total |
|
|
|
|
|
|
|
£ |
|
£ |
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 31 March 2021 |
|
1,000 |
|
176,549 |
177,549 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year |
|
|
|
52,002 |
52,002 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total comprehensive income for the year |
|
- |
|
52,002 |
52,002 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid and payable |
|
|
|
(
36,000) |
(
36,000) |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total investments by and distributions to owners |
|
- |
|
(
36,000) |
(
36,000) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
At 30 March 2022 and 31 March 2022 |
|
1,000 |
|
192,551 |
193,551 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year |
|
|
|
33,767 |
33,767 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total comprehensive income for the year |
|
- |
|
33,767 |
33,767 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid and payable |
|
|
|
(
46,400) |
(
46,400) |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total investments by and distributions to owners |
|
- |
|
(
46,400) |
(
46,400) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
At 30 March 2023 |
|
1,000 |
|
179,918 |
180,918 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Plexstar Limited
Notes to the financial statements
Year ended 30 March 2023
1.
General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 749A, Ormskirk Road, Wigan, England, WN5 8AT.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
|
|
|
Website |
- |
25 % |
straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Plant and machinery |
- |
20 % |
straight line |
|
Fittings fixtures and equipment |
- |
20 % |
straight line |
|
Motor vehicles |
- |
20 % |
straight line |
|
User defined asset |
- |
10 % |
straight line |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Staff costs
The average number of persons employed by the company during the year amounted to
15
(2022:
13
).
The aggregate payroll costs incurred during the year were:
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Wages and salaries |
|
248,910 |
235,046 |
|
Social security costs |
|
11,840 |
11,364 |
|
Other pension costs |
|
3,198 |
3,249 |
|
|
|
_______ |
_______ |
|
|
|
263,948 |
249,659 |
|
|
|
_______ |
_______ |
|
|
|
|
|
5.
Intangible assets
|
|
Other intangible assets |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 31 March 2022 |
- |
- |
|
|
|
|
|
Additions |
18,200 |
18,200 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 30 March 2023 |
18,200 |
18,200 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 31 March 2022 |
- |
- |
|
|
|
|
|
Charge for the year |
1,257 |
1,257 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 30 March 2023 |
1,257 |
1,257 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 30 March 2023 |
16,943 |
16,943 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 30 March 2022 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Long leasehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
|
£ |
£ |
£ |
£ |
£ |
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 31 March 2022 |
21,175 |
61,685 |
33,066 |
79,099 |
195,025 |
|
|
|
Additions |
- |
3,980 |
- |
4,000 |
7,980 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 30 March 2023 |
21,175 |
65,665 |
33,066 |
83,099 |
203,005 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 31 March 2022 |
5,363 |
43,389 |
16,747 |
34,555 |
100,054 |
|
|
|
Charge for the year |
2,089 |
7,341 |
6,613 |
13,585 |
29,628 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 30 March 2023 |
7,452 |
50,730 |
23,360 |
48,140 |
129,682 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 30 March 2023 |
13,723 |
14,935 |
9,706 |
34,959 |
73,323 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 30 March 2022 |
15,812 |
18,296 |
16,319 |
44,544 |
94,971 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade debtors |
|
43,810 |
540 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
734,272 |
609,735 |
|
|
|
_______ |
_______ |
|
|
|
778,082 |
610,275 |
|
|
|
_______ |
_______ |
|
|
|
|
|
Included within Debtors is an amount due from AG Bar Solutions Limited, a connected party, of £689,402.40 (2022: £578,629.94). There is also an amount due from AG Electronics Limited, a connected party of £44,870.05 (2022: £31,104.93). These loans are interest free with no fixed term of repayment nor repayment amount
.
8.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
81,951 |
90,875 |
|
Trade creditors |
|
59,118 |
22,501 |
|
Corporation tax |
|
16,886 |
10,565 |
|
Social security and other taxes |
|
52,192 |
102,309 |
|
Other creditors |
|
518,781 |
300,539 |
|
|
|
_______ |
_______ |
|
|
|
728,928 |
526,789 |
|
|
|
_______ |
_______ |
|
|
|
|
|
Included within creditors: amounts falling due within one year is a Bounce Back loan due for £9,127.99 (2022: £9,127.99) and Funding Circle Loans for £42,087.03 (2022: £63,428.23) for which the directors have pledged personal guarantees.
9.
Creditors: amounts falling due after more than one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
91,139 |
127,221 |
|
Other creditors |
|
17,729 |
29,948 |
|
|
|
_______ |
_______ |
|
|
|
108,868 |
157,169 |
|
|
|
_______ |
_______ |
|
|
|
|
|
Included within creditors: amounts falling due after one year is a Bounce Back loan due for £24,072.90(2022: £32,538.68) and Funding Circle Loans for£67,065.72 (2022: £109,152.75) for which the directors have pledged personal guarantees.
10.
Related party transactions
During the year the company entered into the following transactions with related parties:
|
|
Transaction value |
|
Balance owed by/(owed to) |
|
|
|
2023 |
2022 |
2023 |
2022 |
|
|
£ |
£ |
£ |
£ |
|
AG Bar Solutions Limited |
110,772 |
130,134 |
689,402 |
578,630 |
|
Mexcourt Properties Limited |
- |
(
3,366) |
- |
- |
|
AG Electronics Limited |
13,765 |
139,841 |
44,870 |
31,104 |
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
AG Bar Solutions Limited: A company under common control, received loans during the financial period. AG Electronics Limited: A company under common control, received loans from the Company during the financial period.
11.
Controlling party
The Company is controlled by the Directors by virtue of them holding the entire share capital.