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REGISTERED NUMBER: 00939450 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Agma Limited

Agma Limited (Registered number: 00939450)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Agma Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mr M P Franklin
Miss P J Franklin
Mr J D Taylor





SECRETARY: Miss P J Franklin





REGISTERED OFFICE: Gemini Works
Haltwhistle Industrial Estate
Haltwhistle
United Kingdom
Northumberland
NE49 9HA





REGISTERED NUMBER: 00939450 (England and Wales)





ACCOUNTANTS: Evelyn Partners
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

Agma Limited (Registered number: 00939450)

Balance Sheet
31 August 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 609,481 503,579
Investments 6 29,492 29,492
638,973 533,071

CURRENT ASSETS
Stocks 978,049 989,945
Debtors 7 1,230,253 1,222,045
Cash at bank and in hand 358,037 471,805
2,566,339 2,683,795
CREDITORS
Amounts falling due within one year 8 (575,289 ) (713,220 )
NET CURRENT ASSETS 1,991,050 1,970,575
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,630,023

2,503,646

CREDITORS
Amounts falling due after more than one
year

9

(45,557

)

(68,511

)

PROVISIONS FOR LIABILITIES (154,009 ) (185,031 )
NET ASSETS 2,430,457 2,250,104

CAPITAL AND RESERVES
Called up share capital 150,000 150,000
Profit and loss account 2,280,457 2,100,104
2,430,457 2,250,104

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2025 and were signed on its behalf by:





Mr M P Franklin - Director


Agma Limited (Registered number: 00939450)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Agma Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable from the manufacture of chemical products, stated net of discounts and of value added tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost, 13% on reducing balance and 12.5% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Investments in subsidiaries
Investments in subsidiary undertakings are accounted for at cost less impairment in the individual financial statements. Dividends are recognised in the profit and loss account when the right to receive payment is established.

Stocks
Stocks are measured at the lower of cost and estimated selling price less cost to complete and sell. Cost is calculated on a first in, first out basis and includes all costs of purchase.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Agma Limited (Registered number: 00939450)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

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 and 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.

Current and deferred tax assets and liabilities are not discounted.

Research and development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Foreign currencies
Transactions denominated in foreign currencies are translated into sterling and recorded at the rate of exchange ruling at the date of the transaction.

Balances at the year end denominated in a foreign currency are translated into sterling at the rate of exchange ruling at the balance sheet date.

Leasing
Assets acquired under finance leases are capitalised and depreciated in the same manner as tangible fixed assets. The related obligations, net of future finance charges are included in creditors.

Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the term of the lease.

Employee benefits
Short term employee benefits, including contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2023 - 25 ) .

Agma Limited (Registered number: 00939450)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2023 109,458 1,221,383 1,330,841
Additions 3,336 199,233 202,569
Disposals - (15,927 ) (15,927 )
At 31 August 2024 112,794 1,404,689 1,517,483
DEPRECIATION
At 1 September 2023 109,450 717,812 827,262
Charge for year - 96,653 96,653
Eliminated on disposal - (15,913 ) (15,913 )
At 31 August 2024 109,450 798,552 908,002
NET BOOK VALUE
At 31 August 2024 3,344 606,137 609,481
At 31 August 2023 8 503,571 503,579

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 September 2023
and 31 August 2024 29,492
NET BOOK VALUE
At 31 August 2024 29,492
At 31 August 2023 29,492

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 555,162 702,182
Amounts owed by group undertakings 339,325 312,542
Other debtors 335,766 207,321
1,230,253 1,222,045

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Finance leases (see note 10) - 3,459
Trade creditors 450,688 395,019
Taxation and social security 61,691 104,667
Other creditors 62,910 210,075
575,289 713,220

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 45,557 68,511

Agma Limited (Registered number: 00939450)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
2024 2023
£    £   
Net obligations repayable:
Within one year - 3,459

Non-cancellable operating leases
2024 2023
£    £   
Within one year 58,486 82,740
Between one and five years 64,566 86,438
123,052 169,178

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Finance leases - 3,459

The finance lease liability is secured against the assets to which it relates. The net book value of fixed assets held under finance lease at 31 August 2024 was £Nil (2023 - £Nil).

12. ULTIMATE CONTROLLING PARTY

The company's ultimate controlling party is AGMA Holdings Limited, a company incorporated in England and Wales, and owner of the entire issued share capital of the company.