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AGM PROPERTY GROUP LIMITED

Registered Number
11594890
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2022

AGM PROPERTY GROUP LIMITED
Company Information
for the year from 1 October 2021 to 30 September 2022

Directors

MCGRATH, Anthony Gerard
MCGRATH, Philippa Louise

Registered Address

C/O Redstone Accountancy 253 Monton Road
Eccles
Manchester
M30 9PS

Registered Number

11594890 (England and Wales)
AGM PROPERTY GROUP LIMITED
Balance Sheet as at
30 September 2022

Notes

2022

2021

£

£

£

£

Fixed assets
Tangible assets531,427-
Investment property63,080,0732,066,968
3,111,5002,066,968
Current assets
Debtors83,1204,072
Cash at bank and on hand126,42696,969
129,546101,041
Creditors amounts falling due within one year9(141,120)(116,762)
Net current assets (liabilities)(11,574)(15,721)
Total assets less current liabilities3,099,9262,051,247
Creditors amounts falling due after one year10(1,464,546)(1,322,125)
Provisions for liabilities11(165,489)-
Net assets1,469,891729,122
Capital and reserves
Called up share capital2,4872,487
Share premium715,937715,937
Profit and loss account751,46710,698
Shareholders' funds1,469,891729,122
The financial statements were approved and authorised for issue by the Board of Directors on 3 October 2023, and are signed on its behalf by:
MCGRATH, Anthony Gerard
Director
Registered Company No. 11594890
AGM PROPERTY GROUP LIMITED
Notes to the Financial Statements
for the year ended 30 September 2022

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Investment property policy
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account. No depreciation is provided in respect of investment properties.
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
4.Employee information

20222021
Average number of employees during the year00
5.Property, plant and equipment

Vehicles

Office Equipment

Total

£££
Cost or valuation
Additions32,0001,04933,049
At 30 September 2232,0001,04933,049
Depreciation and impairment
Charge for year1,3332891,622
At 30 September 221,3332891,622
Net book value
At 30 September 2230,66776031,427
At 30 September 21---
6.Investment property

£
Fair value at 01 October 212,066,968
Additions347,271
Disposals(205,163)
Fair value adjustments870,997
At 30 September 223,080,073
7.Stocks
8.Debtors

2022

2021

££
Other debtors3,1204,072
Total3,1204,072
Short term debtors are measured at transaction price (which is usually the invoice 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.
9.Creditors within one year

2022

2021

££
Trade creditors / trade payables4292,239
Amounts owed to related parties132,632103,669
Taxation and social security7,1599,954
Accrued liabilities and deferred income900900
Total141,120116,762
Short term creditors are measured at transaction price (which is usually the invoice 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.
10.Creditors after one year

2022

2021

££
Bank borrowings and overdrafts1,464,5461,322,125
Total1,464,5461,322,125
11.Provisions for liabilities

2022

2021

££
Net deferred tax liability (asset)165,489-
Total165,489-