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No description of principal activity
2023-01-01
Sage Accounts Production Advanced 2023 - FRS102_2023
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COMPANY REGISTRATION NUMBER:
06045423
AGG Electrical Safety Testing Limited |
|
Filleted Unaudited Abridged Financial Statements |
|
AGG Electrical Safety Testing Limited |
|
Abridged Financial Statements |
|
Year Ended 31 December 2023
Abridged statement of financial position |
2 to 3 |
|
|
Notes to the abridged financial statements |
4 to 8 |
|
|
AGG Electrical Safety Testing Limited |
|
Year Ended 31 December 2023
The directors present their report and the unaudited abridged financial statements of the company for the year ended
31 December 2023
.
Principal activities
The principal activity of the company during the year was electrical safety testing and facility management. The directors are satisfied with the performance of the company during the year, which continues to perform well despite a challenging environment. The company continues to grow its regional teams of engineers to provide full nationwide coverage which has seen our customer base continue to grow to over the last 12 months. Our fantastic team continues to tirelessly dedicate their efforts to pulling together for the common goal of providing a tailored, personal and professional service. Through our highly engaged and motivated team and the support and loyalty from our client base, the company looks forward to future growth.
Directors
The directors who served the company during the year were as follows:
Mr G Griffiths |
|
Mr A Griffiths |
|
|
|
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
22 April 2024
and signed on behalf of the board by:
Registered office: |
Unit H1c |
Mill 3 The Business Park |
Pleasley Vale |
Mansfield |
Nottinghamshire |
NG19 8RL |
|
AGG Electrical Safety Testing Limited |
|
Abridged Statement of Financial Position |
|
31 December 2023
Fixed Assets
Tangible assets |
5 |
91,426 |
74,985 |
|
|
|
|
Current Assets
Debtors |
147,597 |
173,423 |
Cash at bank and in hand |
168,874 |
258,671 |
|
--------- |
--------- |
|
316,471 |
432,094 |
|
|
|
Creditors: amounts falling due within one year |
334,598 |
272,702 |
|
--------- |
--------- |
Net Current (Liabilities)/Assets |
(
18,127) |
159,392 |
|
-------- |
--------- |
Total Assets Less Current Liabilities |
73,299 |
234,377 |
|
|
|
Creditors: amounts falling due after more than one year |
2,642 |
5,626 |
|
-------- |
--------- |
Net Assets |
70,657 |
228,751 |
|
-------- |
--------- |
|
|
|
Capital and Reserves
Called up share capital |
6 |
2 |
2 |
Profit and loss account |
70,655 |
228,749 |
|
-------- |
--------- |
Shareholders Funds |
70,657 |
228,751 |
|
-------- |
--------- |
|
|
|
|
These abridged 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 abridged statement of income and retained earnings has not been delivered.
For the year ending 31 December 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 abridged 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 abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.
AGG Electrical Safety Testing Limited |
|
Abridged Statement of Financial Position (continued) |
|
31 December 2023
These abridged financial statements were approved by the
board of directors
and authorised for issue on
22 April 2024
, and are signed on behalf of the board by:
Company registration number:
06045423
AGG Electrical Safety Testing Limited |
|
Notes to the Abridged Financial Statements |
|
Year Ended 31 December 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit H1c, Mill 3 The Business Park, Pleasley Vale, Mansfield, Nottinghamshire, NG19 8RL.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. All of the members have consented to the preparation of abridged accounts in accordance with Section 444(2A) of the Companies Act 2006.
Revenue recognition
Revenue from the sale of services is recognised when the significant risks and rewards of the services provided have transferred to the buyer, usually on completion of the contract, 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. Recoverable on Contracts The value of work in progress comprises the costs incurred on contracts plus an appropriate proportion of overheads and attributable profit. Fees invoiced on account are deducted from the value of work in progress and the balance is separately disclosed in trade and other receivables as amounts recoverable on contracts, unless such fees exceed the value of work in progress on any contract when the excess is separately disclosed in trade and other payables as fees invoiced in advance. Profit is recognised on a percentage completion basis when the outcome of a contract or project can be reasonable foreseen. Provision is made in full for estimated losses. Where the outcome of a contract cannot be reasonably foreseen, profit is taken on completion.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis
.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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 |
- |
25% reducing balance |
|
Fixtures & fittings |
- |
15% reducing balance |
|
Motor vehicles |
- |
15% reducing balance |
|
Office equipment |
- |
25% reducing balance |
|
|
|
|
Impairment of fixed assets
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
29
(2022:
26
).
5.
Tangible assets
|
£ |
Cost |
|
At 1 January 2023 |
132,724 |
Additions |
40,933 |
Disposals |
(
29,034) |
|
--------- |
At 31 December 2023 |
144,623 |
|
--------- |
Depreciation |
|
At 1 January 2023 |
57,739 |
Charge for the year |
14,730 |
Disposals |
(
19,272) |
|
--------- |
At 31 December 2023 |
53,197 |
|
--------- |
Carrying amount |
|
At 31 December 2023 |
91,426 |
|
--------- |
At 31 December 2022 |
74,985 |
|
--------- |
|
|
6.
Called up share capital
Issued, called up and fully paid
|
2023 |
2022 |
|
No. |
£ |
No. |
£ |
Ordinary A shares shares of £ 0.01 each |
98 |
1 |
98 |
1 |
Ordinary B Shares shares of £ 0.01 each |
98 |
1 |
98 |
1 |
Ordinary C Shares shares of £ 0.01 each |
1 |
– |
1 |
– |
Ordinary D Shares shares of £ 0.01 each |
2 |
– |
2 |
– |
Ordinary E Shares shares of £0.01 each |
1 |
– |
1 |
– |
|
---- |
---- |
---- |
---- |
|
200 |
2 |
200 |
2 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
7.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2023 |
2022 |
|
£ |
£ |
Not later than 1 year |
11,014 |
11,014 |
Later than 1 year and not later than 5 years |
1,836 |
12,849 |
|
-------- |
-------- |
|
12,850 |
23,863 |
|
-------- |
-------- |
|
|
|