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REGISTERED NUMBER: SC339541 (Scotland)
















Financial Statements for the Year Ended 31 December 2023

for

AG (Management Services) Ltd

AG (Management Services) Ltd (Registered number: SC339541)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AG (Management Services) Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D Gaffney
R Boyd
C Richardson





REGISTERED OFFICE: The Ink Building
24 Douglas Street
Glasgow
G2 7NQ





REGISTERED NUMBER: SC339541 (Scotland)





AUDITORS: McLay McAlister & McGibbon LLP
Chartered Accountants and Statutory Auditors
145 St Vincent Street
Glasgow
G2 5JF

AG (Management Services) Ltd (Registered number: SC339541)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 166,846 82,128

CURRENT ASSETS
Debtors 5 1,799,092 1,054,957
Cash at bank and in hand 1,239,242 1,189,504
3,038,334 2,244,461
CREDITORS
Amounts falling due within one year 6 (669,146 ) (501,133 )
NET CURRENT ASSETS 2,369,188 1,743,328
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,536,034

1,825,456

CREDITORS
Amounts falling due after more than one
year

7

(53,022

)

(184,820

)
NET ASSETS 2,483,012 1,640,636

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 2,483,011 1,640,635
2,483,012 1,640,636

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 May 2025 and were signed on its behalf by:





D Gaffney - Director


AG (Management Services) Ltd (Registered number: SC339541)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

AG (Management Services) Ltd is a private company, limited by shares , registered in Scotland. 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. ACCOUNTING POLICIES

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

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 25% on cost

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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 or other future taxable profits.

AG (Management Services) Ltd (Registered number: SC339541)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 245,211
Additions 136,188
At 31 December 2023 381,399
DEPRECIATION
At 1 January 2023 163,083
Charge for year 51,470
At 31 December 2023 214,553
NET BOOK VALUE
At 31 December 2023 166,846
At 31 December 2022 82,128

AG (Management Services) Ltd (Registered number: SC339541)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 90,172
DEPRECIATION
At 1 January 2023 18,034
Charge for year 18,034
At 31 December 2023 36,068
NET BOOK VALUE
At 31 December 2023 54,104
At 31 December 2022 72,138

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 305,609 151,365
Amounts owed by group undertakings 1,254,650 703,156
Other debtors 238,833 200,436
1,799,092 1,054,957

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 8) 8,365 8,365
Trade creditors 160,398 82,112
Amounts owed to group undertakings 171,240 94,533
Taxation and social security 131,845 86,381
Other creditors 197,298 229,742
669,146 501,133

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 8) 53,022 61,387
Other creditors - 123,433
53,022 184,820

AG (Management Services) Ltd (Registered number: SC339541)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 8,365 8,365
Between one and five years 53,022 61,387
61,387 69,752

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 20,670 -

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Martin (Senior Statutory Auditor)
for and on behalf of McLay McAlister & McGibbon LLP

10. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption available in Section 33.1A of FRS 102 whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.

11. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

12. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Ambassador Group Holdings Limited, a company incorporated in Scotland. The ultimate controlling party is D Gaffney by virtue of his 100% shareholding in Ambassador Group Holdings Limited.

Ambassador Group Holdings Limited is the largest group for which consolidated financial statements are prepared which include these results. A copy of the consolidated financial statements can be obtained from the registered office:

110 Queen Street
Glasgow
G1 3BX