Silverfin false false 30/06/2023 01/07/2022 30/06/2023 S P Edrich 03/04/2019 L C Farrow 03/04/2019 R J Moore 01/06/2023 C A White 20/03/2019 01 May 2024 The principal activity of the Company during the financial period was that of design and construction of low-carbon, affordable, modular homes. 11893266 2023-06-30 11893266 bus:Director1 2023-06-30 11893266 bus:Director2 2023-06-30 11893266 bus:Director3 2023-06-30 11893266 bus:Director4 2023-06-30 11893266 2022-06-30 11893266 core:CurrentFinancialInstruments 2023-06-30 11893266 core:CurrentFinancialInstruments 2022-06-30 11893266 core:Non-currentFinancialInstruments 2023-06-30 11893266 core:Non-currentFinancialInstruments 2022-06-30 11893266 core:ShareCapital 2023-06-30 11893266 core:ShareCapital 2022-06-30 11893266 core:SharePremium 2023-06-30 11893266 core:SharePremium 2022-06-30 11893266 core:RetainedEarningsAccumulatedLosses 2023-06-30 11893266 core:RetainedEarningsAccumulatedLosses 2022-06-30 11893266 core:ComputerEquipment 2022-06-30 11893266 core:ComputerEquipment 2023-06-30 11893266 core:CurrentFinancialInstruments core:Secured 2023-06-30 11893266 bus:OrdinaryShareClass1 2023-06-30 11893266 core:WithinOneYear 2023-06-30 11893266 core:WithinOneYear 2022-06-30 11893266 core:BetweenOneFiveYears 2023-06-30 11893266 core:BetweenOneFiveYears 2022-06-30 11893266 2022-07-01 2023-06-30 11893266 bus:FilletedAccounts 2022-07-01 2023-06-30 11893266 bus:SmallEntities 2022-07-01 2023-06-30 11893266 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 11893266 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 11893266 bus:Director1 2022-07-01 2023-06-30 11893266 bus:Director2 2022-07-01 2023-06-30 11893266 bus:Director3 2022-07-01 2023-06-30 11893266 bus:Director4 2022-07-01 2023-06-30 11893266 core:ComputerEquipment core:TopRangeValue 2022-07-01 2023-06-30 11893266 2021-07-01 2022-06-30 11893266 core:ComputerEquipment 2022-07-01 2023-06-30 11893266 core:CurrentFinancialInstruments 2022-07-01 2023-06-30 11893266 core:Non-currentFinancialInstruments 2022-07-01 2023-06-30 11893266 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 11893266 bus:OrdinaryShareClass1 2021-07-01 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11893266 (England and Wales)

AGILE PROPERTY AND HOMES LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2023
Pages for filing with the registrar

AGILE PROPERTY AND HOMES LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2023

Contents

AGILE PROPERTY AND HOMES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 June 2023
AGILE PROPERTY AND HOMES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 29,974 21,271
Investment property 4 135,000 135,000
164,974 156,271
Current assets
Debtors 5 85,939 37,742
Cash at bank and in hand 350,304 377,699
436,243 415,441
Creditors: amounts falling due within one year 6 ( 158,906) ( 109,944)
Net current assets 277,337 305,497
Total assets less current liabilities 442,311 461,768
Creditors: amounts falling due after more than one year 7 ( 82,658) ( 88,213)
Net assets 359,653 373,555
Capital and reserves
Called-up share capital 8 127 115
Share premium account 2,972,390 2,155,186
Profit and loss account ( 2,612,864 ) ( 1,781,746 )
Total shareholders' funds 359,653 373,555

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Agile Property and Homes Limited (registered number: 11893266) were approved and authorised for issue by the Board of Directors on 01 May 2024. They were signed on its behalf by:

S P Edrich
Director
AGILE PROPERTY AND HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
AGILE PROPERTY AND HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
1. Accounting policies

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.

General information and basis of accounting

Agile Property and Homes Limited 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 C/O Mushroom Management Limited, 3rd Floor, Library Building , Tewkesbury, Gloucestershire GL20 5NX, United Kingdom. The company number is 11893266.

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.

The functional currency of Agile Property and Homes Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The directors have assessed the Statement of Financial Position 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.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
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 Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Computer equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 20 12

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 July 2022 26,425 26,425
Additions 16,842 16,842
At 30 June 2023 43,267 43,267
Accumulated depreciation
At 01 July 2022 5,154 5,154
Charge for the financial year 8,139 8,139
At 30 June 2023 13,293 13,293
Net book value
At 30 June 2023 29,974 29,974
At 30 June 2022 21,271 21,271

4. Investment property

Investment property
£
Valuation
As at 01 July 2022 135,000
As at 30 June 2023 135,000

Valuation

The 2023 valuations were made by the director, on an open market value for existing use basis.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2023 2022
£ £
Historic cost 125,000 125,000

5. Debtors

2023 2022
£ £
Trade debtors 63,653 0
Prepayments 5,632 0
VAT recoverable 16,654 37,742
85,939 37,742

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans (secured £ 50,000) 5,768 5,768
Trade creditors 48,088 21,496
Amounts owed to directors 39,412 47,515
Accruals 35,567 3,000
Other taxation and social security 22,703 13,053
Other creditors 7,368 19,112
158,906 109,944

The £50,000 bank loan is secured against the asset to which it relates, as a fixed charge.

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 82,658 88,213

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
127,159 Ordinary shares of £ 0.001 each (2022: 114,758 shares of £ 0.001 each) 127 115

During the year 12,401 Ordinary shares of £0.001 each were issued at a premium of £817,204.

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
within one year 16,200 20,900
between one and five years 0 16,200
16,200 37,100

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2023 2022
£ £
Unpaid contributions due to the fund (inc. in other creditors) 2,113 0

10. Related party transactions

At the year end £35,468 (2022: £43,571) was owed to a director. The loan is interest free and has no fixed date for repayment.

At the year end £3,944 (2022: £3,944) was owed to a director. The loan is interest free and has no fixed date for repayment.