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REGISTERED NUMBER: 08234978 (England and Wales)















AGM SAFETY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 OCTOBER 2023






AGM SAFETY LTD (REGISTERED NUMBER: 08234978)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AGM SAFETY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: G P Marsden





REGISTERED OFFICE: Sidings House
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU





REGISTERED NUMBER: 08234978 (England and Wales)






AGM SAFETY LTD (REGISTERED NUMBER: 08234978)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 48,303 77,790

CURRENT ASSETS
Stocks 1,970 4,460
Debtors 5 69,018 51,174
70,988 55,634
CREDITORS
Amounts falling due within one year 6 62,374 42,729
NET CURRENT ASSETS 8,614 12,905
TOTAL ASSETS LESS CURRENT
LIABILITIES

56,917

90,695

CREDITORS
Amounts falling due after more than one year 7 (55,408 ) (79,520 )

PROVISIONS FOR LIABILITIES (722 ) -
NET ASSETS 787 11,175

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 786 11,174
SHAREHOLDERS' FUNDS 787 11,175

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

AGM SAFETY LTD (REGISTERED NUMBER: 08234978)

BALANCE SHEET - continued
31 OCTOBER 2023


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 director and authorised for issue on 12 June 2025 and were signed by:





G P Marsden - Director


AGM SAFETY LTD (REGISTERED NUMBER: 08234978)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

AGM Safety Ltd 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 25% on cost
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

AGM SAFETY LTD (REGISTERED NUMBER: 08234978)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 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.

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.

Government grants
Grant income relating to revenue is recognised on an accruals basis. Income is recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. A grant that becomes receivable as compensation for expenses or losses already incurred for the purpose of giving immediate financial support with no future related costs is recognised in income in the period in which it becomes receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

AGM SAFETY LTD (REGISTERED NUMBER: 08234978)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 111,230
Additions 6,120
Disposals (26,656 )
At 31 October 2023 90,694
DEPRECIATION
At 1 November 2022 33,440
Charge for year 24,576
Eliminated on disposal (15,625 )
At 31 October 2023 42,391
NET BOOK VALUE
At 31 October 2023 48,303
At 31 October 2022 77,790

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

Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 67,545
DEPRECIATION
At 1 November 2022 14,250
Charge for year 16,886
At 31 October 2023 31,136
NET BOOK VALUE
At 31 October 2023 36,409
At 31 October 2022 53,295

AGM SAFETY LTD (REGISTERED NUMBER: 08234978)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 52,636 49,598
Other debtors 16,382 1,576
69,018 51,174

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 13,398 15,153
Hire purchase contracts 12,686 13,860
Taxation and social security 34,891 12,263
Other creditors 1,399 1,453
62,374 42,729

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 27,701 40,301
Hire purchase contracts 27,707 39,219
55,408 79,520

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 40,393 53,079