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Registered Number: 12463318
England and Wales

 

 

 

AFG ACCOUNTANCY LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 3,221    706 
3,221    706 
Current assets      
Cash at bank and in hand 8,981    23,692 
Creditors: amount falling due within one year (8,626)   (21,543)
Net current assets 355    2,149 
 
Total assets less current liabilities 3,576    2,855 
Net assets 3,576    2,855 
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account 3,476    2,755 
Shareholder's funds 3,576    2,855 
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 13 March 2024 and were signed by:


-------------------------------
Haroon Shinwari
Director
1
General Information
AFG ACCOUNTANCY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12463318, registration address 273 OLD KENT ROAD, London, SE1 5LU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 18% Straight Line
2.

Average number of employees

Average number of employees during the year was 7 (2023 : 6).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 March 2023 1,150    1,150 
Additions 3,222    3,222 
Disposals  
At 29 February 2024 4,372    4,372 
Depreciation
At 01 March 2023 444    444 
Charge for year 707    707 
On disposals  
At 29 February 2024 1,151    1,151 
Net book values
Closing balance as at 29 February 2024 3,221    3,221 
Opening balance as at 01 March 2023 706    706 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

2