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REGISTERED NUMBER: 12070712 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

AGLC LTD

AGLC LTD (REGISTERED NUMBER: 12070712)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AGLC LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: P L Alston
S P Graham





REGISTERED OFFICE: 17 Moor Park Avenue
Preston
United Kingdom
Lancashire
PR1 6AS





REGISTERED NUMBER: 12070712 (England and Wales)





ACCOUNTANTS: SBCA Chartered Accountants
17 Moor Park Avenue
Preston
Lancashire
PR1 6AS

AGLC LTD (REGISTERED NUMBER: 12070712)

BALANCE SHEET
31ST MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 130,403 138,216
Tangible assets 5 49,321 79,299
179,724 217,515

CURRENT ASSETS
Stocks 6 4,000 10,500
Debtors 7 32,191 59,826
Cash at bank 14,208 -
50,399 70,326
CREDITORS
Amounts falling due within one year 8 (152,973 ) (169,307 )
NET CURRENT LIABILITIES (102,574 ) (98,981 )
TOTAL ASSETS LESS CURRENT LIABILITIES 77,150 118,534

CREDITORS
Amounts falling due after more than
one year

9

(82,638

)

(114,023

)

PROVISIONS FOR LIABILITIES 10 (1,398 ) (3,928 )
NET (LIABILITIES)/ASSETS (6,886 ) 583

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 (6,986 ) 483
SHAREHOLDERS' FUNDS (6,886 ) 583

AGLC LTD (REGISTERED NUMBER: 12070712)

BALANCE SHEET - continued
31ST MARCH 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

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 26th July 2024 and were signed on its behalf by:




P L Alston - Director



S P Graham - Director


AGLC LTD (REGISTERED NUMBER: 12070712)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

AGLC 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.

Going Concern
The accounts have been prepared on a going concern basis as the Directors have confirmed that they will continue to support the company to enable it to meet its obligations as they fall due.

The company therefore continues to adopt the going concern basis in preparing its financial statements.

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

Goodwill
Goodwill, being the amounts paid in connection with the acquisitions of businesses in 2019 and 2022, are being amortised evenly over an estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Government grants
Government grants are credited to the statement of comprehensive income as follows:
- A grant that does not impose specified future performance-related conditions is recognised in income when the grant proceeds are received or receivable.
- A grant that imposes specified future performance-related conditions is recognised in income only when the performance-related conditions are met.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

AGLC LTD (REGISTERED NUMBER: 12070712)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets:
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future cash flows discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities:
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities:
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if the payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

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.


AGLC LTD (REGISTERED NUMBER: 12070712)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST 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 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 156,253
AMORTISATION
At 1st April 2023 18,037
Charge for year 7,813
At 31st March 2024 25,850
NET BOOK VALUE
At 31st March 2024 130,403
At 31st March 2023 138,216

AGLC LTD (REGISTERED NUMBER: 12070712)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st April 2023 25,410 5,021 85,584 3,251 119,266
Disposals (11,126 ) - (16,599 ) - (27,725 )
At 31st March 2024 14,284 5,021 68,985 3,251 91,541
DEPRECIATION
At 1st April 2023 15,015 3,060 20,266 1,626 39,967
Charge for year 3,502 1,220 13,797 916 19,435
Eliminated on disposal (8,415 ) - (8,767 ) - (17,182 )
At 31st March 2024 10,102 4,280 25,296 2,542 42,220
NET BOOK VALUE
At 31st March 2024 4,182 741 43,689 709 49,321
At 31st March 2023 10,395 1,961 65,318 1,625 79,299

6. STOCKS
31.3.24 31.3.23
£    £   
Stocks 4,000 10,500

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 20,749 55,667
Other debtors 11,442 4,159
32,191 59,826

AGLC LTD (REGISTERED NUMBER: 12070712)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 29,008 28,192
Finance leases 12,242 14,803
Trade creditors 28,765 31,341
Taxation and social security 18,285 36,878
Other creditors 64,673 58,093
152,973 169,307

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 5,581 17,517
Finance leases 34,374 52,323
Other creditors 42,683 44,183
82,638 114,023

10. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 1,398 3,928

Deferred
tax
£   
Balance at 1st April 2023 3,928
Credit to Statement of Income and Retained Earnings during
year

(2,530

)
Balance at 31st March 2024 1,398

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

AGLC LTD (REGISTERED NUMBER: 12070712)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


12. RESERVES
Retained
earnings
£   

At 1st April 2023 483
Deficit for the year (7,469 )
At 31st March 2024 (6,986 )