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REGISTERED NUMBER: 14407985 (England and Wales)















FINANCIAL STATEMENTS FOR THE PERIOD 10 OCTOBER 2022 TO 31 MARCH 2024

FOR

AGI GLOBAL LOGISTICS (MAN) LIMITED

AGI GLOBAL LOGISTICS (MAN) LIMITED (REGISTERED NUMBER: 14407985)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 10 OCTOBER 2022 TO 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AGI GLOBAL LOGISTICS (MAN) LIMITED

COMPANY INFORMATION
FOR THE PERIOD 10 OCTOBER 2022 TO 31 MARCH 2024







DIRECTORS: S J Sands
A P Wigginton
T Wright





REGISTERED OFFICE: Boyce's Building
40-42 Regent Street
Clifton
Bristol
BS8 4HU





REGISTERED NUMBER: 14407985 (England and Wales)





AUDITORS: Milsted Langdon LLP
Chartered Accountants and Statutory Auditors
Freshford House
Redcliffe Way
Bristol
BS1 6NL

AGI GLOBAL LOGISTICS (MAN) LIMITED (REGISTERED NUMBER: 14407985)

BALANCE SHEET
31 MARCH 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 6,716

CURRENT ASSETS
Debtors 5 226,721
Cash at bank 21,391
248,112
CREDITORS
Amounts falling due within one year 6 461,815
NET CURRENT LIABILITIES (213,703 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(206,987

)

CAPITAL AND RESERVES
Called up share capital 9 100
Retained earnings (207,087 )
SHAREHOLDERS' FUNDS (206,987 )

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 27 August 2024 and were signed on its behalf by:




S J Sands - Director



A P Wigginton - Director


AGI GLOBAL LOGISTICS (MAN) LIMITED (REGISTERED NUMBER: 14407985)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 10 OCTOBER 2022 TO 31 MARCH 2024

1. STATUTORY INFORMATION

AGI Global Logistics (MAN) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

The company’s functional and presentation currency is the pound sterling and these financial statements are rounded to the nearest £.

The accounting reference date has been changed to 31 March, so these financial statements cover an extended period. This change has been enacted to bring the company's accounting reference date into line with the usual financial and taxation year of the United Kingdom.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company derives turnover from three sources, import services and export services of goods, and customs clearance administration. The company, a freight forwarder, works with customers and suppliers directly to send freight via road, sea and air.

For imports, the turnover recognition point is upon delivery to the final destination of the shipment. For exports, the recognition point is upon the departure of the goods to the destination. Customs clearance administration services are recognised in turnover in the accounting period when the services are rendered when the outcome of contract can be estimated reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Taxation
Taxation for the period 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.


AGI GLOBAL LOGISTICS (MAN) LIMITED (REGISTERED NUMBER: 14407985)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 10 OCTOBER 2022 TO 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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 period 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
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.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

Trade and other debtors
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or that constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Share capital
Called-up share capital represents the nominal value of ordinary shares that have been issued.

AGI GLOBAL LOGISTICS (MAN) LIMITED (REGISTERED NUMBER: 14407985)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 10 OCTOBER 2022 TO 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

Finance income and costs
Finance income and costs are recognised within interest income or expense in the profit or loss report within the period in which they are incurred and are calculated using the effective interest method.

Going concern
The financial statements have been prepared on a going concern basis despite the loss for the period of £207,087.

Included in trade debtors is £112,725 which the directors believe these amounts to be fully recoverable.

The Company's ability to continue to trade is dependent on continued support from its ultimate controlling parent, Atlantic Group International Limited, which has confirmed that it is willing and able to provide such support.

The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and financial statements.

The financial statements have therefore been prepared on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 .

AGI GLOBAL LOGISTICS (MAN) LIMITED (REGISTERED NUMBER: 14407985)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 10 OCTOBER 2022 TO 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
Additions 11,582
At 31 March 2024 11,582
DEPRECIATION
Charge for period 4,866
At 31 March 2024 4,866
NET BOOK VALUE
At 31 March 2024 6,716

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 112,725
Amounts owed by group undertakings 61,866
Other debtors 2,223
Directors' current accounts 20
VAT 23,005
Deferred tax asset
Other timing differences 518
Prepayments and accrued income 26,364
226,721

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 149,739
Amounts owed to group undertakings 190,419
Social security and other taxes 4,749
Other creditors 1,225
Accrued expenses 115,683
461,815

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
£   
Within one year 27,443

AGI GLOBAL LOGISTICS (MAN) LIMITED (REGISTERED NUMBER: 14407985)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 10 OCTOBER 2022 TO 31 MARCH 2024

8. DEFERRED TAX
£   
Other timing differences (518 )
Balance at 31 March 2024 (518 )

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
80 A Ordinary £1.00 80
20 B Ordinary £1.00 20
100

The following shares were allotted and fully paid for cash at par during the period:

80 A Ordinary shares of £1.00 each
20 B Ordinary shares of £1.00 each

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Guy Armitage-Norton (Senior Statutory Auditor)
for and on behalf of Milsted Langdon LLP

11. PENSION COMMITMENTS

Included in other creditors are pension commitments paid after the balance sheet date of £732.

12. RELATED PARTY DISCLOSURES

The company trades with other group members to provide and acquire goods and services, as required by the group. The company maintains loan balances with other group members, which are repayable on demand.

Entities over which the
directors have
significant influence or
control



Revenue




Purchases
and
overheads



Amounts
owed
from
entities




Amounts
owed to
entities
£ £ £ £
Parent companies
2024 - 233,168 40,483 183,224

Other group members
2024 22,497 8,105 21,383 7,195


AGI GLOBAL LOGISTICS (MAN) LIMITED (REGISTERED NUMBER: 14407985)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 10 OCTOBER 2022 TO 31 MARCH 2024

13. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

14. ULTIMATE PARENT COMPANY

The company's immediate parent company is AGI Global Logistics Limited. The ultimate parent company is Atlantic Group International Limited, which prepares group financial statements. The registered office of both parent companies is Boyce's Building, 40-42 Regent Street, Clifton, Bristol, United Kingdom, BS8 4HU.