1 July 2022 v2024.39.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBPNI6706732022-07-012023-12-31NI6706732023-12-31NI6706732022-06-30NI670673core:WithinOneYear2023-12-31NI670673core:WithinOneYear2022-06-30NI670673core:ShareCapital2023-12-31NI670673core:ShareCapital2022-06-30NI670673core:RevaluationReserve2023-12-31NI670673core:RevaluationReserve2022-06-30NI670673core:RetainedEarningsAccumulatedLosses2023-12-31NI670673core:RetainedEarningsAccumulatedLosses2022-06-30NI670673bus:Director12022-07-012023-12-31NI670673bus:Director22022-07-012023-12-31NI670673bus:RegisteredOffice2022-07-012023-12-31NI6706732021-07-012022-06-30NI670673core:CostValuation2022-07-01NI670673core:AdditionsToInvestments2023-12-31NI670673core:RevaluationsIncreaseDecreaseInInvestments2023-12-31NI670673core:CostValuation2023-12-31NI67067312022-07-012023-12-31NI670673countries:NorthernIreland2022-07-012023-12-31NI670673bus:AuditExemptWithAccountantsReport2022-07-012023-12-31NI670673bus:PrivateLimitedCompanyLtd2022-07-012023-12-31NI670673bus:SmallEntities2022-07-012023-12-31NI670673bus:FullAccounts2022-07-012023-12-31
Company registration number:
NI670673
Agnew Ten Ltd
Unaudited Filleted Financial Statements for the period ended
31 December 2023
Agnew Ten Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of Agnew Ten Ltd
Period ended
31 December 2023
As described on the statement of financial position, the Board of Directors of
Agnew Ten Ltd
are responsible for the preparation of the
financial statements
for the period ended
31 December 2023
, which comprise the income statement, statement of total comprehensive income, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Agnew Ten Ltd
Statement of Financial Position
31 December 2023
31 Dec 202330 Jun 2022
Note££
Fixed assets    
Investments 5
3,088,218
 
1,707,767
 
Current assets    
Cash at bank and in hand
23,634
 
93
 
Creditors: amounts falling due within one year 6
(3,000,000
)
(1,800,000
)
Net current liabilities
(2,976,366
)
(1,799,907
)
Total assets less current liabilities 111,852   (92,140 )
Capital and reserves    
Called up share capital
100
 
100
 
Revaluation reserve
75,999
 
(92,238
)
Profit and loss account
35,753
 
(2
)
Shareholders funds/(deficit)
111,852
 
(92,140
)
For the period 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 financial statements for the period in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
31 August 2024
, and are signed on behalf of the board by:
Philip Agnew
Andrew Agnew
DirectorDirector
Company registration number:
NI670673
Agnew Ten Ltd
Notes to the Financial Statements
Period ended
31 December 2023

1 General information

The company is a private company limited by shares and is registered in Northern Ireland. The address of the registered office is
Upper Floors
,
336 Lisburn Road
,
Belfast
,
BT9 6GH
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the period was
2
(2022:
2.00
).

5 Investments

Other investments other than loans
£
Cost or valuation  
At
1 July 2022
1,707,767
 
Additions
1,212,214
 
Revaluations
168,237
 
At
31 December 2023
3,088,218
 
Impairment  
At
1 July 2022
and
31 December 2023
-  
Carrying amount  
At
31 December 2023
3,088,218
 
At 30 June 2022
1,707,767
 

6 Creditors: amounts falling due within one year

31 Dec 202330 Jun 2022
££
Other creditors
3,000,000
 
1,800,000
 

7 Controlling party

The Controlling party is Marmont 49 Ltd (NI622385).