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COMPANY REGISTRATION NUMBER: 13954421
AG Exotics Limited
Filleted Financial Statements
31 May 2024
AG Exotics Limited
Financial Statements
Year ended 31 May 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
AG Exotics Limited
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Current assets
Stocks
11,510
Debtors
4
88,080
145,111
Cash at bank and in hand
44,080
31,750
---------
---------
143,670
176,861
Creditors: amounts falling due within one year
5
148,038
176,435
---------
---------
Net current (liabilities)/assets
( 4,368)
426
-------
----
Total assets less current liabilities
( 4,368)
426
-------
----
Net (liabilities)/assets
( 4,368)
426
-------
----
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 4,369)
425
-------
----
Shareholders (deficit)/funds
( 4,368)
426
-------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 20 February 2025 , and are signed on behalf of the board by:
Mr D A Josephs
Director
Company registration number: 13954421
AG Exotics Limited
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on the going concern basis and relies on the ongoing support of the directors and the other group companies.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Debtors
2024
2023
£
£
Trade debtors
81,902
145,111
Other debtors
6,178
--------
---------
88,080
145,111
--------
---------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
81,395
64,727
Amounts owed to group undertakings and undertakings in which the company has a participating interest
63,643
109,208
Other creditors
3,000
2,500
---------
---------
148,038
176,435
---------
---------
6. Summary audit opinion
The auditor's report dated 20 February 2025 was unqualified .
The senior statutory auditor was Colin Reid , for and on behalf of Burgess Hodgson LLP .
7. Related party transactions
The company has not disclosed transactions with other companies in the same group as consolidated accounts are prepared by the ulimate holding company, All Greens Holdings Limited. The assets of the accounts are secured against a loan in a group company.
8. Controlling party
The company is a subsidiary of All Greens Wholesale Limited a company incorporated in the United Kingdom. The results of the company are consolidated in the group headed by the ultimate parent company All Greens Holdings Limited . The registered office of both All Greens Wholesale Limited and All Greens Holdings Limited is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN .