IRIS Accounts Production v24.2.0.383 06966286 director 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh069662862022-12-31069662862023-12-31069662862023-01-012023-12-31069662862021-12-31069662862022-01-012022-12-31069662862022-12-3106966286ns15:EnglandWales2023-01-012023-12-3106966286ns14:PoundSterling2023-01-012023-12-3106966286ns10:Director12023-01-012023-12-3106966286ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3106966286ns10:SmallEntities2023-01-012023-12-3106966286ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3106966286ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3106966286ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3106966286ns10:FullAccounts2023-01-012023-12-3106966286ns10:RegisteredOffice2023-01-012023-12-3106966286ns5:CurrentFinancialInstruments2023-12-3106966286ns5:CurrentFinancialInstruments2022-12-3106966286ns5:Non-currentFinancialInstruments2023-12-3106966286ns5:Non-currentFinancialInstruments2022-12-3106966286ns5:ShareCapital2023-12-3106966286ns5:ShareCapital2022-12-3106966286ns5:RetainedEarningsAccumulatedLosses2023-12-3106966286ns5:RetainedEarningsAccumulatedLosses2022-12-3106966286ns5:LandBuildings2022-12-3106966286ns5:PlantMachinery2022-12-3106966286ns5:LandBuildings2023-01-012023-12-3106966286ns5:PlantMachinery2023-01-012023-12-3106966286ns5:LandBuildings2023-12-3106966286ns5:PlantMachinery2023-12-3106966286ns5:LandBuildings2022-12-3106966286ns5:PlantMachinery2022-12-3106966286ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3106966286ns5:WithinOneYearns5:CurrentFinancialInstruments2022-12-31
REGISTERED NUMBER: 06966286 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

AG Motors Limited

AG Motors Limited (Registered number: 06966286)






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


AG Motors Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr Aaron Craig Ginn





REGISTERED OFFICE: Unit C2 Stirling Way
Papworth Everard Papworth Business Park
Cambridge
Cambridgshire
CB23 3GY





REGISTERED NUMBER: 06966286 (England and Wales)





ACCOUNTANTS: Taylor Keeble LLP
Chartered Accountants
9 Caxton House
Broad Street
Cambourne
Cambridgeshire
CB23 6JN

AG Motors Limited (Registered number: 06966286)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 262,694 274,411

CURRENT ASSETS
Stocks 58,500 58,500
Debtors 5 205,494 157,515
Cash and cash equivalents 16,130 7,594
280,124 223,609
CREDITORS
Amounts falling due within one year 6 330,304 224,638
NET CURRENT LIABILITIES (50,180 ) (1,029 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

212,514

273,382

CREDITORS
Amounts falling due after more than one
year

7

(206,867

)

(257,103

)

PROVISIONS FOR LIABILITIES (4,312 ) (7,577 )
NET ASSETS 1,335 8,702

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,334 8,701
1,335 8,702

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.

AG Motors Limited (Registered number: 06966286)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 October 2024 and were signed by:





Mr Aaron Craig Ginn - Director


AG Motors Limited (Registered number: 06966286)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

AG Motors 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. 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
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:

Plant & machinery 10% on Cost
Motor vehicles 25% on cost
Fixtures & fittings 10% on Cost
Computer equipment 25% on cost

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

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.

Hire purchase and leasing commitments
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.

AG Motors Limited (Registered number: 06966286)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1 January 2023 240,000 222,061 462,061
Additions - 1,656 1,656
Disposals - (7,640 ) (7,640 )
At 31 December 2023 240,000 216,077 456,077
DEPRECIATION
At 1 January 2023 - 187,650 187,650
Charge for year - 13,185 13,185
Eliminated on disposal - (7,452 ) (7,452 )
At 31 December 2023 - 193,383 193,383
NET BOOK VALUE
At 31 December 2023 240,000 22,694 262,694
At 31 December 2022 240,000 34,411 274,411

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 142,001 112,179
Amounts owed by participating interests 49,066 32,849
Other debtors 14,427 12,487
205,494 157,515

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 30,848 14,648
Trade creditors 205,000 133,291
Taxation and social security 92,387 77,038
Other creditors 2,069 (339 )
330,304 224,638

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans 128,386 181,615
Other creditors 78,481 75,488
206,867 257,103

AG Motors Limited (Registered number: 06966286)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. RELATED PARTY DISCLOSURES

The company sells, on normal commercial terms, maintenance and repair of motor vehicle services to AG
Motors Over Limited, a company registered in England number 10926732, of which Mr A Ginn is the majority
shareholder and director. The commercial transactions between the two companies are at arm's length.

The value of such sales during the period being reported was £18,251 [2022: £12,127] excluding VAT.

The company also purchases, on normal commercial terms, maintenance and repair of motor vehicle services from AG Motors Over Limited. The value of such purchases during the period being reported was £12,662 [2022: £18,561] excluding VAT.

The total balance due from AG Motors Over Limited at the end of the period was £49,066 [2022: £32,849].