Company No:
Contents
DIRECTORS | S C Clark |
A Jarvis | |
G Whitaker | |
J W Potgieter |
REGISTERED OFFICE | 22 Chancery Lane |
London | |
WC2A 1LS | |
United Kingdom |
COMPANY NUMBER | 11546988 (England and Wales) |
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
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Tangible assets | 4 |
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Investments | 5 |
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1,732,741 | 1,134,487 | |||
Current assets | ||||
Debtors | 6 |
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Cash at bank and in hand |
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1,325,219 | 211,060 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current assets | 1,133,583 | 37,310 | ||
Total assets less current liabilities | 2,866,324 | 1,171,797 | ||
Creditors: amounts falling due after more than one year | 8 |
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Net assets/(liabilities) |
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Capital and reserves | ||||
Called-up share capital | 9 |
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Share premium account |
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Profit and loss account | (
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Total shareholders' funds/(deficit) |
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Directors' responsibilities:
The financial statements of Agrigate One Limited (registered number:
G Whitaker
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Agrigate One Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 22 Chancery Lane, London, WC2A 1LS, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Income from the provision of services is recognised in the period in which the services are provided to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
The cost of intangible assets includes directly attributable incremental costs incurred in their acquisition. Development costs relate to the development of software. Impairment losses are recognised to the extent that the carrying value of the asset exceeds its recoverable amount. The directors undertake to review the recoverable amount at each year end to determine whether an impairment is required.
Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:
Development costs |
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Trademarks, patents and licences |
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The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation is charged so as the write off the costs of the assets over their estimated useful lives, as follows:
Computer equipment |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Interest expense is recognised on the basis of the compound interest method and is included in interest payable and other similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Financial assets are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Development costs | Trademarks, patents and licences |
Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 March 2022 |
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Additions |
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At 28 February 2023 |
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Accumulated amortisation | |||||
At 01 March 2022 |
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Charge for the financial year |
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At 28 February 2023 |
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Net book value | |||||
At 28 February 2023 |
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At 28 February 2022 |
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Computer equipment | Total | ||
£ | £ | ||
Cost | |||
At 01 March 2022 |
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Additions |
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At 28 February 2023 |
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Accumulated depreciation | |||
At 01 March 2022 |
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Charge for the financial year |
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At 28 February 2023 |
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Net book value | |||
At 28 February 2023 |
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At 28 February 2022 |
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Investments in subsidiaries
2023 | |
£ | |
Cost | |
At 01 March 2022 |
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Additions |
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At 28 February 2023 |
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Carrying value at 28 February 2023 |
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Carrying value at 28 February 2022 |
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Investments in shares
Name of entity | Registered office | Nature of business | Class of shares |
Ownership 28.02.2023 |
Ownership 28.02.2022 |
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22 Chancery Lane, London, WC2A 1LS | Dormant Company |
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2023 | 2022 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by directors |
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Accrued income |
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VAT recoverable |
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Corporation tax |
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2023 | 2022 | ||
£ | £ | ||
Trade creditors |
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Other loans |
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Deferred income |
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Other taxation and social security |
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Other creditors |
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2023 | 2022 | ||
£ | £ | ||
Convertible loan notes |
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Convertible unsecured loan notes comprise £0.01 convertible redeemable preferred shares. The convertible loan notes were converted to equity in the year ended 28 February 2023.
2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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13,571 | 3,653 |
In the financial year ended 28 February 2023, the following share capital transactions took place:
57,014 Ordinary £0.001 shares were allotted with an aggregate nominal value of £57.014 for total consideration of £215,000.
42,011 Convertible Redeemable Preferred £0.01 shares were converted into 42,011 Preferred Ordinary £0.01 shares, with an aggregate nominal value of £420.11.
A bonus issue of 566,980 Preferred Ordinary £0.01 shares for an aggregate nominal value of £5,669.80.
377,090 Preferred Ordinary £0.01 shares were allotted with an aggregate nominal value of £3,770.90 for total consideration of £1,422,000.