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Registration number: 14133486

AGP Property Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

AGP Property Investments Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

AGP Property Investments Limited

(Registration number: 14133486)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

813,314

419,978

Current assets

 

Debtors

5

913

540

Cash at bank and in hand

 

2,768

7,248

 

3,681

7,788

Creditors: Amounts falling due within one year

6

(291,359)

(171,275)

Net current liabilities

 

(287,678)

(163,487)

Total assets less current liabilities

 

525,636

256,491

Creditors: Amounts falling due after more than one year

6

(583,150)

(296,250)

Net liabilities

 

(57,514)

(39,759)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(57,614)

(39,859)

Shareholders' deficit

 

(57,514)

(39,759)

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 September 2024
 

 

AGP Property Investments Limited

(Registration number: 14133486)
Balance Sheet as at 31 May 2024

.........................................
A Philippou
Director

 

AGP Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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:
1st Floor Woodgate Studios
2-8 Games Road
Cockfosters
Barnet
Hertfordshire
EN4 9HN

These financial statements were authorised for issue by the director on 23 September 2024.

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.

The accounts are prepared in the company's functional currency of British Pounds (£) and rounded to the nearest £1.

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 sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

AGP Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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.

Trade debtors

Debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Trade creditors

Creditors with no stated interest rate and payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 the director) during the year, was 1 (2023 - 1).

4

Investment properties

2024
£

At 1 June

419,978

Additions

393,336

At 31 May

813,314

The investment properties were valued on 31 May 2024 by the directors on an open market basis at £813,314 (2023 : £419,978) and had a cost of £813,314 (2023 : £419,978).

There has been no valuation of investment property by an independent valuer.

 

AGP Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

5

Debtors

Current

2024
£

2023
£

Prepayments

913

540

913

540

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

3,810

2,976

Other creditors

287,549

168,299

291,359

171,275

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

583,150

296,250

Security

The above loans are secured by way of legal charge on the investment properties.