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REGISTERED NUMBER: 06312948 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

AG SERVICES (LONDON) LIMITED

AG SERVICES (LONDON) LIMITED (REGISTERED NUMBER: 06312948)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

AG SERVICES (LONDON) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Mr A. J Scriven
Mr G Barnett
Mrs V Scriven





SECRETARY: Mr A. J Scriven





REGISTERED OFFICE: Room 471b
Building 4 North London Business Park
Oakleigh Road South
London
N11 1GN





REGISTERED NUMBER: 06312948 (England and Wales)





ACCOUNTANTS: Chris Skarparis & Co Ltd
Chartered Accountants
2nd Floor
10(b) Aldermans Hill
Palmers Green
London
N13 4PJ

AG SERVICES (LONDON) LIMITED (REGISTERED NUMBER: 06312948)

BALANCE SHEET
31 JULY 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 32,393 48,589
Tangible assets 5 83,649 62,148
116,042 110,737

CURRENT ASSETS
Debtors 6 332,405 307,619
Cash at bank 118,264 159,058
450,669 466,677
CREDITORS
Amounts falling due within one year 7 305,531 379,324
NET CURRENT ASSETS 145,138 87,353
TOTAL ASSETS LESS CURRENT
LIABILITIES

261,180

198,090

CREDITORS
Amounts falling due after more than one
year

8

(29,754

)

(51,896

)

PROVISIONS FOR LIABILITIES 12 (20,912 ) (15,537 )
NET ASSETS 210,514 130,657

CAPITAL AND RESERVES
Called up share capital 13 4 4
Retained earnings 14 210,510 130,653
SHAREHOLDERS' FUNDS 210,514 130,657

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

AG SERVICES (LONDON) LIMITED (REGISTERED NUMBER: 06312948)

BALANCE SHEET - continued
31 JULY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 April 2024 and were signed on its behalf by:





Mr A. J Scriven - Director


AG SERVICES (LONDON) LIMITED (REGISTERED NUMBER: 06312948)

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

1. STATUTORY INFORMATION

AG Services (London) Limited is a private company,limited by shares, registered in England and Wales.The company's registered number is 06312948 and registered office address is Room 471b, Building 4 North London Business Park, Oakleigh Road South, London, United Kingdom, N11 1GN.

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 represents net invoiced sales of goods and services, excluding value added tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

AG SERVICES (LONDON) LIMITED (REGISTERED NUMBER: 06312948)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Revenue recognition
Amounts due under contracts-not yet invoiced (work in progress) are valued at the recoverable standard value of time charged by all personnel engaged in the provision of engineering services. Revenue is recognised as the contracts progress to reflect the partial performance of the contractual obligation. The amount of revenue recognised reflects the accrual of the right for consideration as contract activity progresses by reference to the value of work performed.

Goodwill
The licence paid on the acquisition of the franchise is been written off evenly over the remaining estimated useful life not exceeding 10 years

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 204,375
AMORTISATION
At 1 August 2022 155,786
Charge for year 16,196
At 31 July 2023 171,982
NET BOOK VALUE
At 31 July 2023 32,393
At 31 July 2022 48,589

AG SERVICES (LONDON) LIMITED (REGISTERED NUMBER: 06312948)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 107,513 14,418 93,064 38,613 253,608
Additions 9,365 - 34,715 1,376 45,456
At 31 July 2023 116,878 14,418 127,779 39,989 299,064
DEPRECIATION
At 1 August 2022 93,038 12,496 61,545 24,381 191,460
Charge for year 4,768 288 16,558 2,341 23,955
At 31 July 2023 97,806 12,784 78,103 26,722 215,415
NET BOOK VALUE
At 31 July 2023 19,072 1,634 49,676 13,267 83,649
At 31 July 2022 14,475 1,922 31,519 14,232 62,148

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2022 76,996
Transfer to ownership (11,750 )
At 31 July 2023 65,246
DEPRECIATION
At 1 August 2022 52,655
Charge for year 14,058
Transfer to ownership (6,793 )
At 31 July 2023 59,920
NET BOOK VALUE
At 31 July 2023 5,326
At 31 July 2022 24,341

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 266,507 253,116
Amounts owed by connected undertakings 43,000 49,503
Amounts recoverable on contract 3,000 5,000
Other debtors 5,000 -
Prepayments 14,898 -
332,405 307,619

AG SERVICES (LONDON) LIMITED (REGISTERED NUMBER: 06312948)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts (see note 9) 20,260 51,797
Hire purchase contracts 3,966 19,170
Trade creditors 1 -
Tax 94,640 106,564
Social security and other taxes 24,798 16,117
VAT 60,434 125,990
Pension a/c 3,682 2,465
Other creditors - Net wages 50,889 36,774
Directors' current accounts 46,861 20,447
305,531 379,324

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans (see note 9) 29,754 47,929
Hire purchase contracts - 3,967
29,754 51,896

9. LOANS

An analysis of the maturity of loans is given below:

31.7.23 31.7.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 1 - 31,537
Bank loans 2 20,260 20,260
20,260 51,797

Amounts falling due between one and two years:
Bank loans 2 - 1-2 years 20,260 20,260

Amounts falling due between two and five years:
Bank loans 2 - 2-5 years 9,494 27,669

10. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Bank loans 50,014 99,726
Hire purchase contracts 3,966 23,137
53,980 122,863

AG SERVICES (LONDON) LIMITED (REGISTERED NUMBER: 06312948)

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

11. DIRECTORS' LOAN

Included in Creditors - amounts falling due after more than one year is a loan of £46,861 (2022: £20,447) due to the Directors. This loan is recognised at transaction price. The director's loan is not due until after more than 1 year and is interest free.

12. PROVISIONS FOR LIABILITIES
31.7.23 31.7.22
£    £   
Deferred tax
Accelerated capital allowances 20,912 15,537

Deferred
tax
£   
Balance at 1 August 2022 15,537
Charge to Income Statement during year 5,375
Balance at 31 July 2023 20,912

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
4 Ordinary shares 1 4 4

14. RESERVES
Retained
earnings
£   

At 1 August 2022 130,653
Profit for the year 239,096
Dividends (159,239 )
At 31 July 2023 210,510

15. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Mr A. J. Scriven the company director, has provided personal guarantees, in relation to the bank loan and overdrafts.

16. RELATED PARTY DISCLOSURES

During the year, total dividends of £159,239 were paid to the directors .

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
AG SERVICES (LONDON) LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of AG Services (London) Limited for the year ended 31 July 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of AG Services (London) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of AG Services (London) Limited and state those matters that we have agreed to state to the Board of Directors of AG Services (London) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AG Services (London) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that AG Services (London) 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 AG Services (London) Limited. You consider that AG Services (London) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of AG Services (London) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Chris Skarparis & Co Ltd
Chartered Accountants
2nd Floor
10(b) Aldermans Hill
Palmers Green
London
N13 4PJ


3 April 2024