IRIS Accounts Production v24.2.0.383 08876773 director 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh088767732022-12-31088767732023-12-31088767732023-01-012023-12-31088767732021-12-31088767732022-01-012022-12-31088767732022-12-3108876773ns15:EnglandWales2023-01-012023-12-3108876773ns14:PoundSterling2023-01-012023-12-3108876773ns10:Director12023-01-012023-12-3108876773ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3108876773ns10:SmallEntities2023-01-012023-12-3108876773ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3108876773ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3108876773ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3108876773ns10:FullAccounts2023-01-012023-12-310887677312023-01-012023-12-3108876773ns10:RegisteredOffice2023-01-012023-12-3108876773ns5:CurrentFinancialInstruments2023-12-3108876773ns5:CurrentFinancialInstruments2022-12-3108876773ns5:Non-currentFinancialInstruments2023-12-3108876773ns5:Non-currentFinancialInstruments2022-12-3108876773ns5:ShareCapital2023-12-3108876773ns5:ShareCapital2022-12-3108876773ns5:RetainedEarningsAccumulatedLosses2023-12-3108876773ns5:RetainedEarningsAccumulatedLosses2022-12-3108876773ns5:NetGoodwill2023-01-012023-12-3108876773ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3108876773ns5:PlantMachinery2023-01-012023-12-3108876773ns5:NetGoodwill2022-12-3108876773ns5:NetGoodwill2023-12-3108876773ns5:NetGoodwill2022-12-3108876773ns5:PlantMachinery2022-12-3108876773ns5:MotorVehicles2022-12-3108876773ns5:ComputerEquipment2022-12-3108876773ns5:MotorVehicles2023-01-012023-12-3108876773ns5:ComputerEquipment2023-01-012023-12-3108876773ns5:PlantMachinery2023-12-3108876773ns5:MotorVehicles2023-12-3108876773ns5:ComputerEquipment2023-12-3108876773ns5:PlantMachinery2022-12-3108876773ns5:MotorVehicles2022-12-3108876773ns5:ComputerEquipment2022-12-3108876773ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-3108876773ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3108876773ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-12-3108876773ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-3108876773ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3108876773ns5:WithinOneYearns5:CurrentFinancialInstruments2022-12-31
REGISTERED NUMBER: 08876773 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

AGS GROUND SOLUTIONS LIMITED

AGS GROUND SOLUTIONS LIMITED (REGISTERED NUMBER: 08876773)






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


AGS GROUND SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: P R E D Foster





REGISTERED OFFICE: The Old Carriage Works
Moresk Road
TRURO
Cornwall
TR1 1DG





REGISTERED NUMBER: 08876773 (England and Wales)





ACCOUNTANTS: TC Group
The Old Carriage Works
Moresk Road
Truro
Cornwall
TR1 1DG

AGS GROUND SOLUTIONS LIMITED (REGISTERED NUMBER: 08876773)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 78,085 59,865
78,085 59,865

CURRENT ASSETS
Debtors 7 126,628 177,647
Cash at bank - 9,773
126,628 187,420
CREDITORS
Amounts falling due within one year 8 282,475 273,418
NET CURRENT LIABILITIES (155,847 ) (85,998 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(77,762

)

(26,133

)

CREDITORS
Amounts falling due after more than one year 9 63,605 64,481
NET LIABILITIES (141,367 ) (90,614 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (141,467 ) (90,714 )
SHAREHOLDERS' FUNDS (141,367 ) (90,614 )

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 director acknowledges his 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.

AGS GROUND SOLUTIONS LIMITED (REGISTERED NUMBER: 08876773)

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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 August 2024 and were signed by:





P R E D Foster - Director


AGS GROUND SOLUTIONS LIMITED (REGISTERED NUMBER: 08876773)

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

1. STATUTORY INFORMATION

AGS Ground Solutions 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared under the going concern convention on the basis of continued financial support from the company's director, and in the expectation of continued support from the company's suppliers.

The results for the 2023 year were not as expected despite a significantly improved start to the year. However late in 2023 the company experienced a drop in sales partly due to the loss of a large customer. This customer has been replaced by several new reliable customers. The company's director has confidence that the business will continue trading and that it will become profitable within the next 12 months.

The management accounts for the period to June 2024 showed a break-even position which is a significant improvement. Enquiries dropped during July 2024 which was expected due to the impact of the General Election however this was temporary and the company has a full order book to fulfill over the next few months.

The management have spent time creating a business plan and projections. They are concentrating on ensuring that the most expensive debt within the accounts continues to be repaid and this decrease in the cost of debt is reflected in the management accounts. Combined with the significant improvement in trading results it is expected that 2024 will show an improved position.

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

Revenue for provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured using a percentage of completion method.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 20% on reducing balance and Straight line over 3 years


AGS GROUND SOLUTIONS LIMITED (REGISTERED NUMBER: 08876773)

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

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 10 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 20,000
AMORTISATION
At 1 January 2023
and 31 December 2023 20,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

AGS GROUND SOLUTIONS LIMITED (REGISTERED NUMBER: 08876773)

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

6. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 61,805 53,787 10,963 126,555
Additions - 34,870 2,290 37,160
Disposals - (35,287 ) - (35,287 )
Transfer to ownership - 12,500 - 12,500
At 31 December 2023 61,805 65,870 13,253 140,928
DEPRECIATION
At 1 January 2023 26,627 31,724 8,339 66,690
Charge for year 7,035 5,406 2,676 15,117
Eliminated on disposal - (25,064 ) - (25,064 )
Transfer to ownership - 6,100 - 6,100
At 31 December 2023 33,662 18,166 11,015 62,843
NET BOOK VALUE
At 31 December 2023 28,143 47,704 2,238 78,085
At 31 December 2022 35,178 22,063 2,624 59,865

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 31,000
Additions 34,870
Disposals (12,500 )
At 31 December 2023 53,370
DEPRECIATION
At 1 January 2023 12,760
Charge for year 4,126
Eliminated on disposal (6,100 )
At 31 December 2023 10,786
NET BOOK VALUE
At 31 December 2023 42,584
At 31 December 2022 18,240

AGS GROUND SOLUTIONS LIMITED (REGISTERED NUMBER: 08876773)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 105,010 145,712
Other debtors 21,618 31,935
126,628 177,647

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 11,967 9,508
Hire purchase contracts 16,294 11,998
Trade creditors 120,777 91,639
Taxation and social security 34,267 53,656
Other creditors 99,170 106,617
282,475 273,418

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 25,384 30,684
Hire purchase contracts 38,221 25,403
Other creditors - 8,394
63,605 64,481

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the end of the year the company owed £85 (2022: £4,157) to Mr P Foster, director.

11. ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by Mr P Foster, director, who together with his wife, owns 100% of the issued share capital.