ACG Limited
Registered number: 01611876
Statement of Financial Position
as at 31 March 2024
Notes 2024 2023
£ £
Current assets
Stocks 175 175
Debtors 4 5,174 6,837
Cash at bank and in hand 43,381 48,831
48,730 55,843
Creditors: amounts falling due within one year 5 (3,638) (6,098)
Net current assets 45,092 49,745
Net assets 45,092 49,745
Funds of the charity
Restricted funds 21,809 21,635
Unrestricted funds 23,283 28,110
Total charity funds 45,092 49,745
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 members have 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 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.
Mrs R Bird
Director
Approved by the board on 25 March 2025
ACG Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Income
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured.
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 25% straight line
Debtors
Short term debtors are measured at transaction 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. 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
The charity is non-trading and as such is exempt from corporation tax on its income from chartitable activities.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Equipment
£
Cost
At 1 April 2023 6,682
At 31 March 2024 6,682
Depreciation
At 1 April 2023 6,682
At 31 March 2024 6,682
Net book value
At 31 March 2024 -
4 Debtors 2024 2023
£ £
Other debtors 5,174 6,837
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 109 -
Accruals 1,859 4,428
Deferred income 670 670
Other creditors 1,000 1,000
3,638 6,098
6 Other information
ACG Limited is a private company limited by guarantee and incorporated in England. Its registered office is:
269 Farnborough Road
Farnborough
Hampshire
England
GU14 7LY
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