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REGISTERED NUMBER: 08501614 (England and Wales)















AAG I.T. SERVICES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 APRIL 2024






AAG I.T. SERVICES LTD (REGISTERED NUMBER: 08501614)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 9

AAG I.T. SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: A J Greaves
M D Walker





REGISTERED OFFICE: 3 Hazel Court
Midland Way
Barlborough
Chesterfield
Derbyshire
S43 4FD





REGISTERED NUMBER: 08501614 (England and Wales)






AAG I.T. SERVICES LTD (REGISTERED NUMBER: 08501614)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 122,697 168,435
Tangible assets 5 99,402 134,882
Investments 6 200 200
222,299 303,517

CURRENT ASSETS
Debtors 7 548,474 461,171
Cash at bank and in hand 644,797 394,952
1,193,271 856,123
CREDITORS
Amounts falling due within one year 8 1,114,674 879,801
NET CURRENT ASSETS/(LIABILITIES) 78,597 (23,678 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

300,896

279,839

CREDITORS
Amounts falling due after more than one
year

9

53,702

92,279
NET ASSETS 247,194 187,560

CAPITAL AND RESERVES
Called up share capital 300 300
Share option reserve 53 53
Retained earnings 246,841 187,207
247,194 187,560

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

AAG I.T. SERVICES LTD (REGISTERED NUMBER: 08501614)

BALANCE SHEET - continued
30 APRIL 2024


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 10 October 2024 and were signed on its behalf by:





M D Walker - Director


AAG I.T. SERVICES LTD (REGISTERED NUMBER: 08501614)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Aag I.t. Services 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.

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirers interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the statement of income and retained earnings over 10 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 - 25% on cost, 20% on cost and Straight line over 3 years

Taxation
Taxation for the year 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.

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.

AAG I.T. SERVICES LTD (REGISTERED NUMBER: 08501614)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

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.

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 31 (2023 - 32 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023 471,269
Additions 1,917
At 30 April 2024 473,186
AMORTISATION
At 1 May 2023 302,834
Charge for year 47,655
At 30 April 2024 350,489
NET BOOK VALUE
At 30 April 2024 122,697
At 30 April 2023 168,435

AAG I.T. SERVICES LTD (REGISTERED NUMBER: 08501614)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 268,467
Additions 8,010
At 30 April 2024 276,477
DEPRECIATION
At 1 May 2023 133,585
Charge for year 43,490
At 30 April 2024 177,075
NET BOOK VALUE
At 30 April 2024 99,402
At 30 April 2023 134,882

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 66,540
DEPRECIATION
At 1 May 2023 10,395
Charge for year 10,242
At 30 April 2024 20,637
NET BOOK VALUE
At 30 April 2024 45,903
At 30 April 2023 56,145

AAG I.T. SERVICES LTD (REGISTERED NUMBER: 08501614)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 May 2023
and 30 April 2024 200
NET BOOK VALUE
At 30 April 2024 200
At 30 April 2023 200

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 312,967 204,819
Other debtors 235,507 256,352
548,474 461,171

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 37,500 36,641
Hire purchase contracts 8,272 8,272
Trade creditors 345,875 318,979
Taxation and social security 240,715 172,706
Other creditors 482,312 343,203
1,114,674 879,801

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 25,000 55,001
Hire purchase contracts 28,702 37,278
53,702 92,279

AAG I.T. SERVICES LTD (REGISTERED NUMBER: 08501614)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


10. ENTITY SETTLED SHARE BASED PAYMENT

On 5 April 2022, the company granted EMI options on 5,294 (1p) ordinary 'A' shares to 3 employees.

The option can be exercised in relation to one of the following events:-

a) an asset sale where the company sells substantially all of its trade and assets to a new owner.

b) a share sale where a new owner buys a controlling interest in the shares.

c) a listing on a stock exchange.


The option will lapse on its tenth anniversary. If the employee leaves, the option will also lapse.

AAG I.T. SERVICES LTD

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
AAG I.T. SERVICES LTD


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Aag I.t. Services Ltd for the year ended 30 April 2024 which comprise the Profit and Loss Account, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Aag I.t. Services Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Aag I.t. Services Ltd and state those matters that we have agreed to state to the Board of Aag I.t. Services Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aag I.t. Services Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Aag I.t. Services Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Aag I.t. Services Ltd. You consider that Aag I.t. Services Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Aag I.t. Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statu








10 October 2024