Registered number
03775572
AG Property Limited
Report and Accounts
31 May 2024
AG Property Limited
Report to the directors on the preparation of the unaudited statutory accounts of AG Property Limited for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AG Property Limited for the year ended 31 May 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
Coalesco Accountants Limited
Chartered Certified Accountants
156 Russell Drive
Wollaton
Nottingham
NG8 2BE
15 August 2024
AG Property Limited
Registered number: 03775572
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 167,541 167,541
Current assets
Cash at bank and in hand 15,313 21,607
Creditors: amounts falling due within one year 4 (62,562) (64,831)
Net current liabilities (47,249) (43,224)
Total assets less current liabilities 120,292 124,317
Creditors: amounts falling due after more than one year 5 - (5,000)
Net assets 120,292 119,317
Capital and reserves
Called up share capital 4 4
Profit and loss account 120,288 119,313
Shareholders' funds 120,292 119,317
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Wells
Director
Approved by the board on 15 August 2024
AG Property Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
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.
Turnover
Turnover represents rental income paid by tennants.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 0%
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 June 2023 167,541
At 31 May 2024 167,541
Depreciation
At 31 May 2024 -
Net book value
At 31 May 2024 167,541
At 31 May 2023 167,541
4 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 228 2,658
Other creditors 62,334 62,173
62,562 64,831
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 5,000
6 Other information
AG Property Limited is a private company limited by shares and incorporated in England. Its registered office is:
156 Russell Drive
Wollaton
Nottingham
NG8 2BE
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