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AG FACADES LIMITED

Registered Number
07072605
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

AG FACADES LIMITED
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

SAVU, Nicusor Laurentiu

Registered Address

13 Sunningdale Avenue
Sale
M33 2PJ

Registered Number

07072605 (England and Wales)
AG FACADES LIMITED
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3473,992441,768
473,992441,768
Current assets
Stocks457,66769,798
Debtors5958,090405,657
Cash at bank and on hand767,1631,076,845
1,782,9201,552,300
Creditors amounts falling due within one year6(402,254)(149,560)
Net current assets (liabilities)1,380,6661,402,740
Total assets less current liabilities1,854,6581,844,508
Creditors amounts falling due after one year7(70,118)(148,300)
Net assets1,784,5401,696,208
Capital and reserves
Called up share capital200200
Profit and loss account1,784,3401,696,008
Shareholders' funds1,784,5401,696,208
The financial statements were approved and authorised for issue by the Director on 27 November 2024, and are signed on its behalf by:
SAVU, Nicusor Laurentiu
Director
Registered Company No. 07072605
AG FACADES LIMITED
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Land and buildings2
Plant and machinery25
Vehicles25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20232022
Average number of employees during the year22
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 December 22376,51647,597112,35818,908555,379
Additions-71,072-2,60073,672
At 30 November 23376,516118,669112,35821,508629,051
Depreciation and impairment
At 01 December 2210,66844,89942,29915,745113,611
Charge for year7,5305,38526,2722,26141,448
At 30 November 2318,19850,28468,57118,006155,059
Net book value
At 30 November 23358,31868,38543,7873,502473,992
At 30 November 22365,8482,69870,0593,163441,768
4.Stocks

2023

2022

££
Work in progress57,66769,798
Total57,66769,798
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables905,433315,174
Other debtors39,69981,352
Prepayments and accrued income12,9589,131
Total958,090405,657
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables127,741144,462
Bank borrowings and overdrafts50,7831,370
Taxation and social security65,1281,798
Accrued liabilities and deferred income158,6021,930
Total402,254149,560
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts70,118148,300
Total70,118148,300
8.Other commitments
At the year end the company had financial commitments of £4,716 (2022 - £35,156) under an operating lease for the property.