ASSOCIATED GROUP SERVICES LIMITED

Company Registration Number:
04010172 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2024

Period of accounts

Start date: 01 June 2023

End date: 31 May 2024

ASSOCIATED GROUP SERVICES LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2024

Balance sheet
Notes

ASSOCIATED GROUP SERVICES LIMITED

Balance sheet

As at 31 May 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 10,088 13,451
Total fixed assets: 10,088 13,451
Current assets
Stocks: 914,498 877,034
Debtors: 4 1,155,093 1,170,864
Cash at bank and in hand: 1,084,735 727,439
Total current assets: 3,154,326 2,775,337
Creditors: amounts falling due within one year: 5 (484,163) (474,261)
Net current assets (liabilities): 2,670,163 2,301,076
Total assets less current liabilities: 2,680,251 2,314,527
Total net assets (liabilities): 2,680,251 2,314,527
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 2,680,151 2,314,427
Shareholders funds: 2,680,251 2,314,527

The notes form part of these financial statements

ASSOCIATED GROUP SERVICES LIMITED

Balance sheet statements

For the year ending 31 May 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 25 February 2025
and signed on behalf of the board by:

Name: P N Simons
Status: Director

The notes form part of these financial statements

ASSOCIATED GROUP SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances.

Tangible fixed assets and depreciation policy

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided a rates calculated to write off the the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Plant, Machinery and Equipment - 100% on cost Fixtures, Fittings and Equipment - 100% on cost Motor Vehicles - 25% on reducing balance At each Balance Sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash--generating unit to which the asset belongs.

Valuation and information policy

Stocks Stocks are stated at the lower of cost and estimated selling price, (net realisable value). Net realisable value is based on estimated selling price. When stocks are sold, the carrying value of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

Other accounting policies

Taxation Taxation represents the sum of tax currently payable. 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. Going Concern The Directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have reasonable expectation that the company has adequate financial resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

ASSOCIATED GROUP SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

2. Employees

2024 2023
Average number of employees during the period 3 3

ASSOCIATED GROUP SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Tangible Assets

Total
Cost £
At 01 June 2023 65,507
At 31 May 2024 65,507
Depreciation
At 01 June 2023 52,056
Charge for year 3,363
At 31 May 2024 55,419
Net book value
At 31 May 2024 10,088
At 31 May 2023 13,451

ASSOCIATED GROUP SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Debtors

2024 2023
££
Debtors due after more than one year: 852,156 851,556

ASSOCIATED GROUP SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

5. Creditors: amounts falling due within one year note

2024 2023 Trade Creditors 81,501 146,813 Other Taxation and Social Security 33,911 31,387 Corporation Tax 143,492 99,457 Other Creditors 225,259 196,604