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REGISTERED NUMBER: 08389853 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 December 2023

for

AGM HOLDINGS (UK) LIMITED

AGM HOLDINGS (UK) LIMITED (REGISTERED NUMBER: 08389853)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

AGM HOLDINGS (UK) LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A S Davies
M R Davies
G A Davies





SECRETARY:





REGISTERED OFFICE: Unit 2 Colemeadow Road
Moons Moat North Industrial Estate
Redditch
B98 9PB





REGISTERED NUMBER: 08389853 (England and Wales)





ACCOUNTANTS: CHEADLES
Chartered Accountants
Telegraph House
59 Wolverhampton Road
Stafford
Staffordshire
ST17 4AW

AGM HOLDINGS (UK) LIMITED (REGISTERED NUMBER: 08389853)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 617,368 610,000
Investments 5 200 200
Investment property 6 31,274 31,274
648,842 641,474

CURRENT ASSETS
Debtors 7 56,431 159,343
Cash at bank 11,404 5,357
67,835 164,700
CREDITORS
Amounts falling due within one year 8 70,149 62,125
NET CURRENT (LIABILITIES)/ASSETS (2,314 ) 102,575
TOTAL ASSETS LESS CURRENT
LIABILITIES

646,528

744,049

CREDITORS
Amounts falling due after more than one year 9 (195,917 ) (214,682 )

PROVISIONS FOR LIABILITIES (83,692 ) (74,761 )
NET ASSETS 366,919 454,606

CAPITAL AND RESERVES
Called up share capital 604 604
Fair value reserve 10 287,737 295,034
Retained earnings 78,578 158,968
SHAREHOLDERS' FUNDS 366,919 454,606

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

AGM HOLDINGS (UK) LIMITED (REGISTERED NUMBER: 08389853)

Balance Sheet - continued
31 December 2023


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





M R Davies - Director


AGM HOLDINGS (UK) LIMITED (REGISTERED NUMBER: 08389853)

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


1. STATUTORY INFORMATION

AGM Holdings (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements, estimates and assumptions that affect the amounts reported for the assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - not provided
Plant and machinery - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

AGM HOLDINGS (UK) LIMITED (REGISTERED NUMBER: 08389853)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 610,000 - 610,000
Additions - 8,300 8,300
At 31 December 2023 610,000 8,300 618,300
DEPRECIATION
Charge for year - 932 932
At 31 December 2023 - 932 932
NET BOOK VALUE
At 31 December 2023 610,000 7,368 617,368
At 31 December 2022 610,000 - 610,000

Cost or valuation at 31 December 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2018 465,000 - 465,000
Valuation in 2022 145,000 - 145,000
Valuation in 2023 - 8,300 8,300
610,000 8,300 618,300

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 200
NET BOOK VALUE
At 31 December 2023 200
At 31 December 2022 200

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 31,274
NET BOOK VALUE
At 31 December 2023 31,274
At 31 December 2022 31,274

AGM HOLDINGS (UK) LIMITED (REGISTERED NUMBER: 08389853)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


7. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 1,154 1,093
Other debtors 20,277 8,250
21,431 9,343

Amounts falling due after more than one year:
Other debtors 35,000 150,000

Aggregate amounts 56,431 159,343

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 18,766 18,227
Taxation and social security 6,759 32,723
Other creditors 44,624 11,175
70,149 62,125

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 195,917 214,682

10. RESERVES
Fair
value
reserve
£   
At 1 January 2023 295,034
Reserve transfer (7,297 )

At 31 December 2023 287,737

11. RELATED PARTY DISCLOSURES

During the year, AGM Holdings (UK) Limited charged Classic Kitchens (Redditch) Limited, a wholly owned subsidiary, rent of £20,040 (2022: £20,040), and management fees of £65,000. (2022: £160,000).

Dividends were paid from Classic Kitchens (Redditch) Limited, of £Nil (2022: £40,000).

At the balance sheet date, AGM Holdings (UK) Limited was owed £40,656 by Classic Kitchens (Redditch) Limited (2022: £158,334). Of this, £35,000 is deemed to be due within one year and one day.

All transactions were on commercial terms.

12. ULTIMATE CONTROLLING PARTY

The company is under the control of the directors, who together own 100% of the voting share capital.

AGM HOLDINGS (UK) LIMITED (REGISTERED NUMBER: 08389853)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


13. SHORT TERM EMPLOYEE BENEFITS

The holiday pay year end coincides with the financial year end of the business and so there are no accrued holidays not taken at the balance sheet date.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
AGM Holdings (UK) Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of AGM Holdings (UK) Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of AGM Holdings (UK) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of AGM Holdings (UK) Limited and state those matters that we have agreed to state to the Board of Directors of AGM Holdings (UK) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AGM Holdings (UK) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that AGM Holdings (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of AGM Holdings (UK) Limited. You consider that AGM Holdings (UK) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of AGM Holdings (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






CHEADLES
Chartered Accountants
Telegraph House
59 Wolverhampton Road
Stafford
Staffordshire
ST17 4AW


26 September 2024