Registered number
03656076
AGR Building & Fencing Contractors Ltd
Report and Accounts
30 June 2024
AGR Building & Fencing Contractors Ltd
Registered number: 03656076
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 285,971 229,202
Current assets
Stocks 208,007 212,772
Debtors 5 762,814 630,335
Cash at bank and in hand 426,586 399,917
1,397,407 1,243,024
Creditors: amounts falling due within one year 6 (744,423) (829,039)
Net current assets 652,984 413,985
Total assets less current liabilities 938,955 643,187
Provisions for liabilities (56,614) (46,372)
Net assets 882,341 596,815
Capital and reserves
Called up share capital 100 100
Profit and loss account 882,241 596,715
Shareholder's funds 882,341 596,815
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M W Dawson
Director
Approved by the board on 16 January 2025
AGR Building & Fencing Contractors Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery Over 5 Years
Fixtures, fittings, tools and equipment Over 5 Years
Motor Vehicles Over 5 Years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 26 24
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2023 135,000
At 30 June 2024 135,000
Amortisation
At 1 July 2023 135,000
At 30 June 2024 135,000
Net book value
At 30 June 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 28,575 196,126 451,187 675,888
Additions 45,996 29,213 54,950 130,159
Disposals - - (25,990) (25,990)
At 30 June 2024 74,571 225,339 480,147 780,057
Depreciation
At 1 July 2023 12,381 156,359 277,946 446,686
Charge for the year 5,716 15,696 51,978 73,390
On disposals - - (25,990) (25,990)
At 30 June 2024 18,097 172,055 303,934 494,086
Net book value
At 30 June 2024 56,474 53,284 176,213 285,971
At 30 June 2023 16,194 39,767 173,241 229,202
5 Debtors 2024 2023
£ £
Trade debtors 707,588 579,363
Prepayments and accrued income 55,226 50,972
762,814 630,335
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 153,375 169,238
Amounts owed to group undertakings and undertakings in which the company has a participating interest 300,000 300,000
Corporation tax 102,023 46,705
Other taxes and social security costs 52,338 19,722
Other creditors 136,687 293,374
744,423 829,039
7 Parent Undertaking
The company's ultimate parent undertaking is AGR Building and Fencing Holdings Limited. AGR Building and Fencing Holdings Limited is exempt from the requirement to prepare group accounts.
8 Other information
AGR Building & Fencing Contractors Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 1 Tuyers Works
Canada Street,
Horwich
Bolton
BL6 7PB
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