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REGISTERED NUMBER: 02567072 (England and Wales)















Aggarwal & Co Limited

Unaudited Financial Statements for the Year Ended 31 March 2023






Aggarwal & Co Limited (Registered number: 02567072)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Aggarwal & Co Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: A Aggarwal
R C Abel
R S Kalsi





REGISTERED OFFICE: 5 London Road
Rainham
Gillingham
Kent
ME8 7RG





REGISTERED NUMBER: 02567072 (England and Wales)

Aggarwal & Co Limited (Registered number: 02567072)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 94,479 107,729
Tangible assets 5 537,444 562,611
Investment property 6 14,820,000 14,185,002
15,451,923 14,855,342

CURRENT ASSETS
Debtors 7 4,201,368 5,010,436
Cash at bank 1,014,580 465,967
5,215,948 5,476,403
CREDITORS
Amounts falling due within one year 8 805,394 864,073
NET CURRENT ASSETS 4,410,554 4,612,330
TOTAL ASSETS LESS CURRENT LIABILITIES 19,862,477 19,467,672

CREDITORS
Amounts falling due after more than one
year

9

(4,821,349

)

(4,208,368

)

PROVISIONS FOR LIABILITIES (815,780 ) (881,450 )
NET ASSETS 14,225,348 14,377,854

CAPITAL AND RESERVES
Called up share capital 5,001 5,001
Fair value reserve 7,402,922 6,702,048
Retained earnings 6,817,425 7,670,805
SHAREHOLDERS' FUNDS 14,225,348 14,377,854

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Aggarwal & Co Limited (Registered number: 02567072)

Statement of Financial Position - continued
31 March 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 Board of Directors and authorised for issue on 20 September 2023 and were signed on its behalf by:





R C Abel - Director


Aggarwal & Co Limited (Registered number: 02567072)

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

1. STATUTORY INFORMATION

Aggarwal & Co 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. 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 as modified by the revaluation of certain assets.

Income recognition
Turnover represents the net invoiced value of accountancy services and rents receivable from properties, excluding value added tax, except in respect of accountancy services where turnover is recognised when the company obtains the right to consideration.

Intangible assets
Goodwill, being the amount paid in connection with the acquisition of accountancy businesses, is being amortised from the acquisition date evenly over its estimated useful life of ten years .

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.
Land and buildings - 2% and 4% on cost
Plant and machinery etc - 25% on cost and 25% on reducing balance

Investment property
Investment property is included at fair value. Gains are recognised in the income statement and shown in a fair value reserve. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments
The Company enters into basic financial instruments 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 and loans to related parties. Basic financial instruments are recognised at amortised cost.

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 statement of financial position date.


Aggarwal & Co Limited (Registered number: 02567072)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 33 (2022 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 588,154
AMORTISATION
At 1 April 2022 480,425
Charge for year 13,250
At 31 March 2023 493,675
NET BOOK VALUE
At 31 March 2023 94,479
At 31 March 2022 107,729

Aggarwal & Co Limited (Registered number: 02567072)

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

5. PROPERTY, PLANT & EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 800,900 157,367 958,267
Additions - 5,766 5,766
At 31 March 2023 800,900 163,133 964,033
DEPRECIATION
At 1 April 2022 252,336 143,320 395,656
Charge for year 25,979 4,954 30,933
At 31 March 2023 278,315 148,274 426,589
NET BOOK VALUE
At 31 March 2023 522,585 14,859 537,444
At 31 March 2022 548,564 14,047 562,611

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 14,185,002
Revaluations 634,998
At 31 March 2023 14,820,000
NET BOOK VALUE
At 31 March 2023 14,820,000
At 31 March 2022 14,185,002

The investment property was valued on a fair value basis by the directors at the balance sheet date.

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 350,393 401,745
Amounts recoverable on contracts 124,348 105,854
Other debtors 1,240 2,080
475,981 509,679

Aggarwal & Co Limited (Registered number: 02567072)

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

7. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Other debtors 3,725,387 4,500,757

Aggregate amounts 4,201,368 5,010,436

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 132,000
Taxation and social security 236,494 207,841
Other creditors 568,900 524,232
805,394 864,073

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 4,821,349 4,208,368

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 4,821,349 4,340,368

The bank loans are secured by means of fixed and floating charges on the respective property of the company.