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REGISTERED NUMBER: NI032369 (Northern Ireland)













A.R.G. Limited

Unaudited Financial Statements

for the Year Ended 31 May 2024






A.R.G. Limited (Registered number: NI032369)

Contents of the Financial Statements
for the Year Ended 31 May 2024










Page

Company information 1

Statement of financial position 2 to 3

Notes to the financial statements 4 to 9


A.R.G. Limited

Company Information
for the Year Ended 31 May 2024







Directors: Mr A Graham
Mr R Graham
Mrs G Canavan
Mr G Balfour
Mr I Devlin





Secretary: Mrs D Graham





Registered office: 27 Annesborough Ind Estate
Lurgan
Co Armagh
BT67 9JD





Registered number: NI032369 (Northern Ireland)





Accountants: Wylie Ruddell
Chartered Accountants
Armagh Business Centre
2 Loughgall Road
Armagh
BT61 7NH

A.R.G. Limited (Registered number: NI032369)

Statement of Financial Position
31 May 2024

2024 2023
Notes £ £
Fixed assets
Intangible assets 4 - -
Property, plant and equipment 5 1,240,459 1,323,764
1,240,459 1,323,764

Current assets
Inventories 6 208,365 196,169
Receivables 7 680,861 738,871
Cash at bank and in hand 314,849 86,982
1,204,075 1,022,022
Payables
Amounts falling due within one year 8 (678,252 ) (628,447 )
Net current assets 525,823 393,575
Total assets less current liabilities 1,766,282 1,717,339

Payables
Amounts falling due after more than one
year

9

(198,691

)

(256,607

)

Provisions for liabilities 11 (180,378 ) (220,955 )
Net assets 1,387,213 1,239,777

Capital and reserves
Called up share capital 12 100 100
Share premium 13 59,990 59,990
Revaluation reserve 13 305,356 275,434
Retained earnings 13 1,021,767 904,253
Shareholders' funds 1,387,213 1,239,777

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

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

A.R.G. Limited (Registered number: NI032369)

Statement of Financial Position - continued
31 May 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 9 October 2024 and were signed on its behalf by:





Mr A Graham - Director


A.R.G. Limited (Registered number: NI032369)

Notes to the Financial Statements
for the Year Ended 31 May 2024


1. Statutory information

A.R.G. Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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

Property, plant and equipment
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.
Land and buildings - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures, fittings and equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

A.R.G. Limited (Registered number: NI032369)

Notes to the Financial Statements - continued
for the Year Ended 31 May 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.

Receivables
Short term receivables are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Payables
Short term payables are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the Income Statement in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

Useful economic lives of tangible assets
The annual depreciation charges for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

A.R.G. Limited (Registered number: NI032369)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


3. Employees and directors

The average number of employees during the year was 44 (2023 - 40 ) .

4. Intangible fixed assets
Goodwill
£
Cost
At 1 June 2023
and 31 May 2024 250,000
Amortisation
At 1 June 2023
and 31 May 2024 250,000
Net book value
At 31 May 2024 -
At 31 May 2023 -

5. Property, plant and equipment
Fixtures,
fittings
Land and Plant and and Motor
buildings machinery equipment vehicles Totals
£ £ £ £ £
Cost or valuation
At 1 June 2023 750,000 936,415 45,906 208,828 1,941,149
Additions - 3,274 3,409 - 6,683
At 31 May 2024 750,000 939,689 49,315 208,828 1,947,832
Depreciation
At 1 June 2023 - 461,791 23,351 132,243 617,385
Charge for year 9,570 71,587 3,294 15,107 99,558
Revaluation adjustments (9,570 ) - - - (9,570 )
At 31 May 2024 - 533,378 26,645 147,350 707,373
Net book value
At 31 May 2024 750,000 406,311 22,670 61,478 1,240,459
At 31 May 2023 750,000 474,624 22,555 76,585 1,323,764

Cost or valuation at 31 May 2024 is represented by:

Fixtures,
fittings
Land and Plant and and Motor
buildings machinery equipment vehicles Totals
£ £ £ £ £
Valuation in 2014 113,900 - - - 113,900
Valuation in 2016 (5,886 ) - - - (5,886 )
Valuation in 2017 (12,313 ) - - - (12,313 )
Valuation in 2022 175,787 - - - 175,787
Cost 478,512 939,689 49,315 208,828 1,676,344
750,000 939,689 49,315 208,828 1,947,832

A.R.G. Limited (Registered number: NI032369)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


5. Property, plant and equipment - continued

If land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£ £
Cost 478,512 478,512
Aggregate depreciation (93,414 ) (83,844 )

Value of land in freehold land and buildings 385,098 394,668

Land and buildings were valued on an open market basis on 8 December 2014 by Charles Digney Property Consultants .

The Director has uplifted this revaluation on a open market basis as at 31 May 2023.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£ £ £
Cost or valuation
At 1 June 2023 327,220 46,315 373,535
Transfer to ownership (21,500 ) (19,315 ) (40,815 )
At 31 May 2024 305,720 27,000 332,720
Depreciation
At 1 June 2023 56,008 25,016 81,024
Charge for year 40,683 5,324 46,007
Transfer to ownership (11,960 ) (14,731 ) (26,691 )
At 31 May 2024 84,731 15,609 100,340
Net book value
At 31 May 2024 220,989 11,391 232,380
At 31 May 2023 271,212 21,299 292,511

6. Inventories
2024 2023
£ £
Raw materials 85,000 130,000
Work in progress 123,365 66,169
208,365 196,169

7. Receivables: amounts falling due within one year
2024 2023
£ £
Trade receivables 680,288 712,006
Other receivables 573 26,865
680,861 738,871

A.R.G. Limited (Registered number: NI032369)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


8. Payables: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 39,807 37,566
Hire purchase contracts (see note 10) 71,457 64,701
Trade payables 212,081 228,377
Taxation and social security 186,019 76,837
Other payables 168,888 220,966
678,252 628,447

9. Payables: amounts falling due after more than one year
2024 2023
£ £
Bank loans 45,129 85,338
Hire purchase contracts (see note 10) 153,562 171,269
198,691 256,607

10. Leasing agreements

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£ £
Net obligations repayable:
Within one year 71,457 64,701
Between one and five years 153,562 171,269
225,019 235,970

11. Provisions for liabilities
2024 2023
£ £
Deferred tax
Land and buildings revaluation (20,352 ) 79,898
Deferred tax 200,730 141,057
180,378 220,955

Deferred tax
£
Balance at 1 June 2023 220,955
Provided during year (40,577 )
Balance at 31 May 2024 180,378

12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary Shares 1 100 100

A.R.G. Limited (Registered number: NI032369)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


13. Reserves
Retained Share Revaluation
earnings premium reserve Totals
£ £ £ £

At 1 June 2023 904,253 59,990 275,434 1,239,677
Profit for the year 193,514 193,514
Dividends (76,000 ) (76,000 )
Deferred tax on land and
buildings revaluation - - 20,352 20,352
Revaluation of land and
buildings - - 9,570 9,570
At 31 May 2024 1,021,767 59,990 305,356 1,387,113

14. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£ £
Mr A Graham
Balance outstanding at start of year (135,900 ) (152,956 )
Amounts advanced 114,756 42,056
Amounts repaid (27,500 ) (25,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (48,644 ) (135,900 )

Mrs G Canavan
Balance outstanding at start of year (11,251 ) -
Amounts advanced 15,232 13,734
Amounts repaid (15,250 ) (24,985 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (11,269 ) (11,251 )

Mr R Graham
Balance outstanding at start of year (2,356 ) -
Amounts advanced 4,170 800
Amounts repaid (3,250 ) (3,156 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,436 ) (2,356 )