Registered number
11832983
Agile Property Investors Ltd
Unaudited Filleted Accounts
29 February 2024
Agile Property Investors Ltd
Registered number: 11832983
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 159,023 137,465
Current assets
Debtors 5 900 900
Cash at bank and in hand 2,516 391
3,416 1,291
Creditors: amounts falling due within one year 6 (31,806) (18,610)
Net current liabilities (28,390) (17,319)
Total assets less current liabilities 130,633 120,146
Creditors: amounts falling due after more than one year 7 (116,343) (119,028)
Provisions for liabilities (935) -
Net assets 13,355 1,118
Capital and reserves
Called up share capital 10 10
Revaluation reserve 8 15,005 -
Profit and loss account (1,660) 1,108
Shareholders' funds 13,355 1,118
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.
Daniel Smith
Director
Approved by the board on 21 August 2024
Agile Property Investors Ltd
Notes to the Accounts
for the year ended 29 February 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 (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Investment property and listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2 Change of accounting policies
The company holds an investment property that was previously held at cost and depreciated annually, an adjustment is included in the accounts to 29th February to remove the depreciation and account on a fair value basis (as above) as required by the accounting standards.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 March 2023 140,980 169 141,149
Surplus on revaluation 18,000 - 18,000
At 29 February 2024 158,980 169 159,149
Depreciation
At 1 March 2023 3,600 84 3,684
Charge for the year - 42 42
On disposals (3,600) - (3,600)
At 29 February 2024 - 126 126
Net book value
At 29 February 2024 158,980 43 159,023
At 28 February 2023 137,380 85 137,465
5 Debtors 2024 2023
£ £
Other debtors 900 900
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,926 2,877
Trade creditors 900 900
Taxation and social security costs - 493
Other creditors 27,980 14,340
31,806 18,610
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 116,343 119,028
8 Revaluation reserve 2024 2023
£ £
Gain on revaluation of land and buildings 18,000 -
Deferred taxation arising on the revaluation of land and buildings (2,995) -
At 29 February 2024 15,005 -
9 Other information
Agile Property Investors Ltd is a private company limited by shares and incorporated in England. Its registered office is:
14 Windsor Drive
Trowbridge
BA14 0JZ
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