Registered number
12602511
AGCT Holdings Limited
Filleted Accounts
31 May 2024
AGCT Holdings Limited
Registered number: 12602511
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 963 492
Current assets
Debtors 4 - 49
Cash at bank and in hand 36,444 17,884
36,444 17,933
Creditors: amounts falling due within one year 5 (21,257) (16,460)
Net current assets 15,187 1,473
Total assets less current liabilities 16,150 1,965
Provisions for liabilities (183) (93)
Net assets 15,967 1,872
Capital and reserves
Called up share capital 100 100
Profit and loss account 15,867 1,772
Shareholder's funds 15,967 1,872
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
…........................................................
Mr A Thomas
Director
Approved by the board on 9 August 2024
AGCT Holdings Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance 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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% - 33% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 734
Additions 927
At 31 May 2024 1,661
Depreciation
At 1 June 2023 242
Charge for the year 456
At 31 May 2024 698
Net book value
At 31 May 2024 963
At 31 May 2023 492
4 Debtors 2024 2023
£ £
Other debtors - 49
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 18,838 9,013
Other creditors 2,419 7,447
21,257 16,460
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr A Thomas
(6,325) 25,000 (18,777) (102)
(6,325) 25,000 (18,777) (102)
During the year the company made a short-term loan to a director of £25,000 for the purpose of a car purchase. Interest at the rate of 2% was charged and the loan was repaid on 7th May 2025.
7 Other information
AGCT Holdings Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
34 Coppins Park
Pentlepoir
Saundersfoot
Pembrokeshire
SA69 9BR
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