AGT Property Ltd 03092722 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is letting and operating of real estate. Digita Accounts Production Advanced 6.30.9574.0 true true 03092722 2023-01-01 2023-12-31 03092722 2023-12-31 03092722 core:CurrentFinancialInstruments 2023-12-31 03092722 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 03092722 bus:SmallEntities 2023-01-01 2023-12-31 03092722 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03092722 bus:FilletedAccounts 2023-01-01 2023-12-31 03092722 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03092722 bus:RegisteredOffice 2023-01-01 2023-12-31 03092722 bus:Director1 2023-01-01 2023-12-31 03092722 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03092722 countries:EnglandWales 2023-01-01 2023-12-31 03092722 2022-12-31 03092722 2022-01-01 2022-12-31 03092722 2022-12-31 03092722 core:CurrentFinancialInstruments 2022-12-31 03092722 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 03092722

AGT Property Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

AGT Property Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

AGT Property Ltd

(Registration number: 03092722)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

1,392,500

1,192,500

Current assets

 

Debtors

5

13,266

8,626

Cash at bank and in hand

 

291,477

234,134

 

304,743

242,760

Creditors: Amounts falling due within one year

6

(31,275)

(14,589)

Net current assets

 

273,468

228,171

Total assets less current liabilities

 

1,665,968

1,420,671

Provisions for liabilities

(71,472)

(36,859)

Net assets

 

1,594,496

1,383,812

Capital and reserves

 

Called up share capital

2

2

Other reserves

305,087

146,790

Retained earnings

1,289,407

1,237,020

Shareholders' funds

 

1,594,496

1,383,812

 

AGT Property Ltd

(Registration number: 03092722)
Balance Sheet as at 31 December 2023

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 August 2024 and signed on its behalf by:
 

.........................................
Mr T J Lester
Director

 

AGT Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 6 Gooch Drive
Southmead Industrial Estate
Didcot
Oxfordshire
OX11 7PR
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of letting real estate in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

AGT Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investment properties

2023
£

At 1 January

1,192,500

Additions

200,000

At 31 December

1,392,500

The investment property was subject to valuation by the director, who is not a professionally qualified valuer, but has experience in the location and class of investment property being revalued.

5

Debtors

Current

2023
£

2022
£

Trade debtors

5,330

-

Prepayments

1,624

1,302

Other debtors

6,312

7,324

 

13,266

8,626

 

AGT Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

13,981

9,294

Other creditors

17,294

5,295

31,275

14,589

7

Related party transactions

At the balance sheet date there was an amount owing from/(to) Carlinport Ltd (an entity under the control of key management personnel) of £6,000 (2022: £6,000).

At the balance sheet date there was an amount owed from/(to) Carlinport Pension Ltd (an entity under the control of key management personnel) of (£4,644) (2022: £1,322).