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Registered Number: 13651631
England and Wales

 

 

 

AGB LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 October 2022

End date: 30 September 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 19,133    26,584 
19,133    26,584 
Current assets      
Stocks 13,500   
Debtors 27,238    4,402 
Cash at bank and in hand 1,918    1,477 
42,656    5,879 
Creditors: amount falling due within one year (336,684)   (205,677)
Net current assets (294,028)   (199,798)
 
Total assets less current liabilities (274,895)   (173,214)
Provisions for liabilities (3,635)   (5,051)
Net assets (278,530)   (178,265)
 

Capital and reserves
     
Called up share capital 900    900 
Profit and loss account (279,430)   (179,165)
Shareholders' funds (278,530)   (178,265)
 


For the year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge 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 board of directors on 29 July 2024 and were signed on its behalf by:


-------------------------------
Bidit Neupane
Director
-------------------------------
Aarati Pudasaini
Director
1
General Information
AGB LIMITED is a private company, limited by shares, registered in England and Wales, registration number 13651631, registration address 280 BROADWAY, BEXLEYHEATH , ENGLAND, DA6 8AL.

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 (as applied to small entities by Section 1A of the standard) 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.
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
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
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:
Plant and Machinery 30% Reducing Balance
Fixtures and Fittings 30% Reducing Balance
Computer Equipment 30% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 5 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 October 2022 29,202    8,275    500    37,977 
Additions 306    443      749 
Disposals      
At 30 September 2023 29,508    8,718    500    38,726 
Depreciation
At 01 October 2022 8,761    2,482    150    11,393 
Charge for year 6,224    1,871    105    8,200 
On disposals      
At 30 September 2023 14,985    4,353    255    19,593 
Net book values
Closing balance as at 30 September 2023 14,523    4,365    245    19,133 
Opening balance as at 01 October 2022 20,441    5,793    350    26,584 


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