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REGISTERED NUMBER: 10313005 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

AGL SCAFFOLD LTD

AGL SCAFFOLD LTD (REGISTERED NUMBER: 10313005)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AGL SCAFFOLD LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: A Taylor
L Rickson
G Rickson
P Rickson





REGISTERED OFFICE: PGL House
Unit 10C-10D Ashdown Business Park
Michael Way
Uckfield
East Sussex
TN22 2DU





REGISTERED NUMBER: 10313005 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Limited
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

AGL SCAFFOLD LTD (REGISTERED NUMBER: 10313005)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,854,805 1,436,835

CURRENT ASSETS
Debtors 5 160,961 136,940
Cash at bank 59,090 33,321
220,051 170,261
CREDITORS
Amounts falling due within one year 6 (2,704,543 ) (1,270,195 )
NET CURRENT LIABILITIES (2,484,492 ) (1,099,934 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

370,313

336,901

CREDITORS
Amounts falling due after more than one
year

7

(126,044

)

(99,555

)

PROVISIONS FOR LIABILITIES (210,934 ) (89,508 )
NET ASSETS 33,335 147,838

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 33,235 147,738
SHAREHOLDERS' FUNDS 33,335 147,838

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

AGL SCAFFOLD LTD (REGISTERED NUMBER: 10313005)

BALANCE SHEET - continued
31 DECEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by:





L Rickson - Director


AGL SCAFFOLD LTD (REGISTERED NUMBER: 10313005)

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

1. STATUTORY INFORMATION

AGL Scaffold Ltd 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.

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

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 - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

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

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.

AGL SCAFFOLD LTD (REGISTERED NUMBER: 10313005)

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

2. ACCOUNTING POLICIES - continued

Reporting period
The 2022 financial statements are prepared for the 9 months to 31 December 2022, as to align the company's financial year end with that of its associated undertakings.

As a result, the comparative figures and disclosures presented with these financial statements are not entirely comparable.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 1,707,164 1,299 200,270 1,100 1,909,833
Additions 1,803,674 2,011 121,955 1,748 1,929,388
Disposals - - (13,650 ) - (13,650 )
At 31 December 2023 3,510,838 3,310 308,575 2,848 3,825,571
DEPRECIATION
At 1 January 2023 433,599 480 38,203 716 472,998
Charge for year 451,996 254 48,915 204 501,369
Eliminated on disposal - - (3,601 ) - (3,601 )
At 31 December 2023 885,595 734 83,517 920 970,766
NET BOOK VALUE
At 31 December 2023 2,625,243 2,576 225,058 1,928 2,854,805
At 31 December 2022 1,273,565 819 162,067 384 1,436,835

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 115,570
DEPRECIATION
At 1 January 2023 9,612
Charge for year 21,192
At 31 December 2023 30,804
NET BOOK VALUE
At 31 December 2023 84,766
At 31 December 2022 105,958

AGL SCAFFOLD LTD (REGISTERED NUMBER: 10313005)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 83,225 -
Other debtors 77,736 136,940
160,961 136,940

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,720 7,720
Hire purchase contracts (see note 8) 49,485 26,375
Trade creditors 285,013 112,351
Amounts owed to associates 2,004,716 961,044
Taxation and social security 23,716 94,087
Other creditors 333,893 68,618
2,704,543 1,270,195

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 12,397 20,693
Hire purchase contracts (see note 8) 113,647 78,862
126,044 99,555

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 49,485 26,375
Between one and five years 113,647 78,862
163,132 105,237

Non-cancellable operating leases
2023 2022
£    £   
Within one year 31,800 31,800
Between one and five years 95,400 127,200
127,200 159,000

The lease of land began on 3 January 2023.

AGL SCAFFOLD LTD (REGISTERED NUMBER: 10313005)

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

9. FINANCIAL INSTRUMENTS

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

11. RELATED PARTY DISCLOSURES

A balance of £1,954,716 (2022: £961,044) is owed to PGL Brickwork + Scaffolding Contractors Ltd who have a 50% shareholding in AGL Scaffold Limited.