REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022 |
FOR |
AGI GLOBAL LOGISTICS (CT) LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022 |
FOR |
AGI GLOBAL LOGISTICS (CT) LIMITED |
AGI GLOBAL LOGISTICS (CT) LIMITED (REGISTERED NUMBER: 10621833) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
AGI GLOBAL LOGISTICS (CT) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Boyce's Building |
40-42 Regent Street |
Clifton |
Bristol |
BS8 4HU |
AGI GLOBAL LOGISTICS (CT) LIMITED (REGISTERED NUMBER: 10621833) |
BALANCE SHEET |
30 NOVEMBER 2022 |
30.11.22 | 30.11.21 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings | 541,855 |
SHAREHOLDERS' FUNDS |
AGI GLOBAL LOGISTICS (CT) LIMITED (REGISTERED NUMBER: 10621833) |
BALANCE SHEET - continued |
30 NOVEMBER 2022 |
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 |
AGI GLOBAL LOGISTICS (CT) LIMITED (REGISTERED NUMBER: 10621833) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2022 |
1. | STATUTORY INFORMATION |
AGI Global Logistics (CT) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Fixtures and fittings | - |
Motor vehicles | - |
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. |
AGI GLOBAL LOGISTICS (CT) LIMITED (REGISTERED NUMBER: 10621833) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2022 |
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 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 December 2021 |
Additions |
At 30 November 2022 |
DEPRECIATION |
At 1 December 2021 |
Charge for year |
At 30 November 2022 |
NET BOOK VALUE |
At 30 November 2022 |
At 30 November 2021 |
AGI GLOBAL LOGISTICS (CT) LIMITED (REGISTERED NUMBER: 10621833) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2022 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 December 2021 |
and 30 November 2022 |
DEPRECIATION |
At 1 December 2021 |
Charge for year |
At 30 November 2022 |
NET BOOK VALUE |
At 30 November 2022 |
At 30 November 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.22 | 30.11.21 |
as | restated |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.22 | 30.11.21 |
as | restated |
£ | £ |
Hire purchase contracts (see note 8) |
Trade creditors |
Taxation and social security |
Other creditors |
AGI GLOBAL LOGISTICS (CT) LIMITED (REGISTERED NUMBER: 10621833) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2022 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.11.22 | 30.11.21 |
as | restated |
£ | £ |
Hire purchase contracts (see note 8) |
8. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase | contracts |
30.11.22 | 30.11.21 |
as | restated |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable | operating leases |
30.11.22 | 30.11.21 |
as | restated |
£ | £ |
Within one year |
Between one and five years |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.11.22 | 30.11.21 |
as | restated |
£ | £ |
Hire purchase contracts | 83,575 | 127,623 |
The company's bankers, HSBC UK Bank PLC, and eCapital Commercial Finance (North) Limited hold fixed and floating charges over all of the company's assets. |
AGI GLOBAL LOGISTICS (CT) LIMITED (REGISTERED NUMBER: 10621833) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2022 |
10. | DEFERRED TAX |
£ |
Balance at 1 December 2021 | ( |
) |
Other timing differences | (12,803 | ) |
Balance at 30 November 2022 | ( |
) |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.11.22 | 30.11.21 |
value: | as restated |
£ | £ |
Ordinary A | £1 | 60 | 60 |
Ordinary B | £1 | 40 | 40 |
100 | 100 |
12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
13. | PENSION COMMITMENTS |
Included in other creditors are pension commitments paid after the balance sheet date of £10,660 (2021 £3,654). |
14. | RELATED PARTY DISCLOSURES |
The directors maintain interest free loan accounts with the company. At the balance sheet date, the company owed the directors £2,234 (2021: £102,322). |
The company maintains loan balances with other group members, which are repayable on demand. The amounts owed to the company by other group members not wholly owned is £1,616,333 (2021: £681,236) and the amounts owed by the company to other group members not wholly owned is £Nil (2021: £Nil). |
15. | ULTIMATE PARENT COMPANY |
The ultimate parent company is Atlantic Group International Limited, which prepares group financial statements. The registered office of the ultimate parent company is Boyces Building, 40-42 Regent Street, Clifton, Bristol, United Kingdom, BS8 4HU. |
16. | ULTIMATE CONTROLLING PARTY |
There is no ultimate controlling party. |