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Registered Number: 13762877
England and Wales

 

 

 


Abridged Accounts

for the period ended 30 November 2022

for

ARGO PROPERTY HOLDINGS LIMITED

Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Argo Property Holdings Limited for the year ended 30 November 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Argo Property Holdings Limited for the year ended 30 November 2022 which comprise of the Income Statement, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Argo Property Holdings Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Argo Property Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Argo Property Holdings Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Argo Property Holdings Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Argo Property Holdings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Argo Property Holdings Limited . You consider that Argo Property Holdings Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Argo Property Holdings Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
30 November 2022



....................................................
Pointon Young
33 Ludgate Hill
Birmingham
B3 1EH
16 November 2023
1
 
 
Notes
 
2022
£
Fixed assets    
Tangible fixed assets 4 1,971,831 
1,971,831 
Current assets    
Debtors 19,182 
Cash at bank and in hand 9,327 
28,509 
Creditors: amount falling due within one year (7,239)
Net current assets 21,270 
 
Total assets less current liabilities 1,993,101 
Creditors: amount falling due after more than one year (2,029,677)
Net liabilities (36,576)
 

Capital and reserves
   
Called up share capital 5 100 
Profit and loss account (36,676)
Shareholder's funds (36,576)
 


For the period ended 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 16 November 2023 and were signed by:


-------------------------------
W Butterwick
Director
2
General Information
Argo Property Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 13762877, registration address 33 Ludgate Hill, Birmingham, B3 1EH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Straight Line
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees (including Directors)

Average number of employees during the period was 1.
3.

Indebtedness

Secured liabilities as at the balance sheet date amounted to £841,907. The liabilities are secured against the property known as 34A Barclay Road, London, SW6 1EH.
Amounts repayable by installments after five years: £835,690.

4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Investment properties   Total
  £   £   £
At 24 November 2021    
Additions 10,518    1,962,591    1,973,109 
Disposals    
At 30 November 2022 10,518    1,962,591    1,973,109 
Depreciation
At 24 November 2021    
Charge for period 1,278      1,278 
On disposals    
At 30 November 2022 1,278      1,278 
Net book values
Closing balance as at 30 November 2022 9,240    1,962,591    1,971,831 
Opening balance as at 24 November 2021    


5.

Share Capital

Allotted, called up and fully paid
2022
£
100 Class A shares of £1.00 each 100 
100 

3