Acorah Software Products - Accounts Production 16.1.300 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 03867582 Mr Richard Smart Mr Alan Nobbs iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03867582 2023-08-31 03867582 2024-08-31 03867582 2023-09-01 2024-08-31 03867582 frs-core:CurrentFinancialInstruments 2024-08-31 03867582 frs-core:BetweenOneFiveYears 2024-08-31 03867582 frs-core:MotorVehicles 2024-08-31 03867582 frs-core:MotorVehicles 2023-09-01 2024-08-31 03867582 frs-core:MotorVehicles 2023-08-31 03867582 frs-core:PlantMachinery 2024-08-31 03867582 frs-core:PlantMachinery 2023-09-01 2024-08-31 03867582 frs-core:PlantMachinery 2023-08-31 03867582 frs-core:ShareCapital 2024-08-31 03867582 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 03867582 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 03867582 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 03867582 frs-bus:SmallEntities 2023-09-01 2024-08-31 03867582 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 03867582 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 03867582 frs-bus:Director1 2023-09-01 2024-08-31 03867582 frs-bus:Director2 2023-09-01 2024-08-31 03867582 frs-countries:EnglandWales 2023-09-01 2024-08-31 03867582 2022-08-31 03867582 2023-08-31 03867582 2022-09-01 2023-08-31 03867582 frs-core:CurrentFinancialInstruments 2023-08-31 03867582 frs-core:BetweenOneFiveYears 2023-08-31 03867582 frs-core:ShareCapital 2023-08-31 03867582 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 03867582
AGX Holdings Limited
Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03867582
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,663 5,427
4,663 5,427
CURRENT ASSETS
Stocks 5 8,472 14,155
Debtors 6 85,848 98,300
Cash at bank and in hand 591,049 644,536
685,369 756,991
Creditors: Amounts Falling Due Within One Year 7 (297,154 ) (369,330 )
NET CURRENT ASSETS (LIABILITIES) 388,215 387,661
TOTAL ASSETS LESS CURRENT LIABILITIES 392,878 393,088
NET ASSETS 392,878 393,088
CAPITAL AND RESERVES
Called up share capital 8 40,000 40,000
Profit and Loss Account 352,878 353,088
SHAREHOLDERS' FUNDS 392,878 393,088
Page 1
Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Alan Nobbs
Director
21/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
AGX Holdings Limited Registered number 03867582 is a limited by shares company incorporated in England & Wales. The Registered Office is 46 Murrell Green Bus. Park, London Rd, Hook, Hampshire, RG27 9GR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Cost
Motor Vehicles 20% Cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 2
Sales, marketing and distribution 7 7
9 9
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 September 2023 14,076 14,000 28,076
Additions 637 - 637
As at 31 August 2024 14,713 14,000 28,713
Depreciation
As at 1 September 2023 8,649 14,000 22,649
Provided during the period 1,401 - 1,401
As at 31 August 2024 10,050 14,000 24,050
Net Book Value
As at 31 August 2024 4,663 - 4,663
As at 1 September 2023 5,427 - 5,427
5. Stocks
2024 2023
£ £
Stock 8,472 14,155
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 81,117 93,082
Prepayments and accrued income 4,731 5,218
85,848 98,300
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 247,614 319,790
Corporation tax 31,045 35,879
VAT 10,753 3,140
Other creditors 1,282 1,282
Accruals and deferred income 6,460 9,239
297,154 369,330
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 40,000 40,000
9. Other Commitments
The total of future annual minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Later than one year and not later than five years 32,250 32,250
32,250 32,250
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