IRIS Accounts Production v24.1.9.2 11228470 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh112284702023-03-31112284702024-03-31112284702023-04-012024-03-31112284702022-03-31112284702022-04-012023-03-31112284702023-03-3111228470ns15:EnglandWales2023-04-012024-03-3111228470ns14:PoundSterling2023-04-012024-03-3111228470ns10:Director12023-04-012024-03-3111228470ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3111228470ns10:SmallEntities2023-04-012024-03-3111228470ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3111228470ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3111228470ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3111228470ns10:FullAccounts2023-04-012024-03-311122847012023-04-012024-03-3111228470ns10:Director22023-04-012024-03-3111228470ns10:Director32023-04-012024-03-3111228470ns10:RegisteredOffice2023-04-012024-03-3111228470ns5:CurrentFinancialInstruments2024-03-3111228470ns5:CurrentFinancialInstruments2023-03-3111228470ns5:Non-currentFinancialInstruments2024-03-3111228470ns5:Non-currentFinancialInstruments2023-03-3111228470ns5:ShareCapital2024-03-3111228470ns5:ShareCapital2023-03-3111228470ns5:FurtherSpecificReserve1ComponentTotalEquity2024-03-3111228470ns5:FurtherSpecificReserve1ComponentTotalEquity2023-03-3111228470ns5:RetainedEarningsAccumulatedLosses2024-03-3111228470ns5:RetainedEarningsAccumulatedLosses2023-03-3111228470ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3111228470ns5:PatentsTrademarksLicencesConcessionsSimilar2023-04-012024-03-3111228470ns5:PlantMachinery2023-04-012024-03-3111228470ns5:IntangibleAssetsOtherThanGoodwill2023-03-3111228470ns5:IntangibleAssetsOtherThanGoodwill2024-03-3111228470ns5:IntangibleAssetsOtherThanGoodwill2023-03-3111228470ns5:PlantMachinery2023-03-3111228470ns5:PlantMachinery2024-03-3111228470ns5:PlantMachinery2023-03-3111228470ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3111228470ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3111228470ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-03-3111228470ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-31
REGISTERED NUMBER: 11228470 (England and Wales)









AGALSI PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






AGALSI PROPERTIES LIMITED (REGISTERED NUMBER: 11228470)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AGALSI PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr A C Milner
Mrs S J Milner
Mr O C Milner





REGISTERED OFFICE: Station House
North Street
Havant
Hampshire
PO9 1QU





REGISTERED NUMBER: 11228470 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

AGALSI PROPERTIES LIMITED (REGISTERED NUMBER: 11228470)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,920 8,800
Tangible assets 5 198 696
Investment property 6 1,380,000 1,305,000
1,388,118 1,314,496

CURRENT ASSETS
Debtors 7 185,015 9,450
Cash at bank 3,910 1
188,925 9,451
CREDITORS
Amounts falling due within one year 8 498,929 403,982
NET CURRENT LIABILITIES (310,004 ) (394,531 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,078,114

919,965

CREDITORS
Amounts falling due after more than one
year

9

(1,025,720

)

(918,520

)

PROVISIONS FOR LIABILITIES (50,159 ) (33,037 )
NET ASSETS/(LIABILITIES) 2,235 (31,592 )

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 150,328 98,711
Retained earnings (148,193 ) (130,403 )
2,235 (31,592 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

AGALSI PROPERTIES LIMITED (REGISTERED NUMBER: 11228470)

BALANCE SHEET - continued
31 MARCH 2024


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 31 July 2024 and were signed on its behalf by:





Mr A C Milner - Director


AGALSI PROPERTIES LIMITED (REGISTERED NUMBER: 11228470)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Agalsi Properties 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.

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.

Turnover
Turnover represents rents receivable during the period. Rental income is recognised on the basis of amounts due in the period.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise fee are being amortised evenly over their estimated useful life of fifteen years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only enters into basic financial instruments transactions 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 and investments in non-puttable ordinary shares.

Trade and other debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method


AGALSI PROPERTIES LIMITED (REGISTERED NUMBER: 11228470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Going concern
The company has the continued financial support of its director's, who have agreed not to request repayment of the loan until the company has the funds available. On this basis the director's of Agalsi Properties Limited consider it appropriate to prepare accounts on the going concern basis. The financial statements do not include any adjustments that would result in the company suffering further trading losses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 13,200
AMORTISATION
At 1 April 2023 4,400
Charge for year 880
At 31 March 2024 5,280
NET BOOK VALUE
At 31 March 2024 7,920
At 31 March 2023 8,800

AGALSI PROPERTIES LIMITED (REGISTERED NUMBER: 11228470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 28,837
DEPRECIATION
At 1 April 2023 28,141
Charge for year 498
At 31 March 2024 28,639
NET BOOK VALUE
At 31 March 2024 198
At 31 March 2023 696

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,305,000
Additions 6,178
Revaluations 68,822
At 31 March 2024 1,380,000
NET BOOK VALUE
At 31 March 2024 1,380,000
At 31 March 2023 1,305,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2022 131,615
Valuation in 2024 68,822
Cost 1,179,563
1,380,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,173,385 1,173,385

Investment property was valued on an open market basis on 31 March 2024 by the directors. .

AGALSI PROPERTIES LIMITED (REGISTERED NUMBER: 11228470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 185,015 9,450

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 2,191
Trade creditors - 360
Other creditors 498,929 401,431
498,929 403,982

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 845,720 918,520
Other creditors 180,000 -
1,025,720 918,520

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 518,520 518,520