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Registration number: 01147752

Aggretron Limited

Unaudited Filleted Financial Statements

for the Period from 1 July 2023 to 16 September 2024

 

Aggretron Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Financial Statements

5 to 8

 

Aggretron Limited

Company Information

Directors

Mr Miles Ervin Saltiel

Mr Jacob Saltiel

Registered office

3rd Floor
166 College Road
Harrow
Middlesex
HA1 1BH

Accountants

MG Group (Professional Services) Limited
Chartered Accountants
166 College Road
Harrow
Middlesex
HA1 1BH

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Aggretron Limited
for the Period Ended 16 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Aggretron Limited for the period ended 16 September 2024 as set out on pages 3 to 8 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 at
http://www.icaew.com/regulation.

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

It is your duty to ensure that Aggretron Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Aggretron Limited. You consider that Aggretron Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Aggretron 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 accounts.

......................................

MG Group (Professional Services) Limited
Chartered Accountants
166 College Road
Harrow
Middlesex
HA1 1BH

1 October 2024

 

Aggretron Limited

(Registration number: 01147752)
Balance Sheet as at 16 September 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

-

657,908

Other financial assets

5

-

5,042

 

-

662,950

Current assets

 

Debtors

6

-

16,047

Cash at bank and in hand

 

83,755

21,690

 

83,755

37,737

Creditors: Amounts falling due within one year

7

(83,755)

(20,236)

Net current assets

 

-

17,501

Total assets less current liabilities

 

-

680,451

Provisions for liabilities

-

(99,407)

Net assets

 

-

581,044

Capital and reserves

 

Called up share capital

8

100

100

Other reserves

-

523,194

Retained earnings

(100)

57,750

Shareholders' funds

 

-

581,044

For the financial period ending 16 September 2024 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 period 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.

 

Aggretron Limited

(Registration number: 01147752)
Balance Sheet as at 16 September 2024

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 1 October 2024 and signed on its behalf by:
 

.........................................
Mr Miles Ervin Saltiel
Director

 

Aggretron Limited

Notes to the Financial Statements for the Period from 1 July 2023 to 16 September 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
3rd Floor
166 College Road
Harrow
Middlesex
HA1 1BH
United Kingdom

These financial statements were authorised for issue by the Board on 1 October 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.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Aggretron Limited

Notes to the Financial Statements for the Period from 1 July 2023 to 16 September 2024

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 external valuers. The valuers 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.

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

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 1 (2023 - 1).

 

Aggretron Limited

Notes to the Financial Statements for the Period from 1 July 2023 to 16 September 2024

4

Investment properties

2024
£

At 1 July

657,908

Disposals

(134,714)

Fair value adjustments

(523,194)

At 16 September

-

5

Other financial assets (current and non-current)

2024
£

2023
£

Non-current financial assets

Financial assets at fair value through profit and loss

-

5,042

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 July 2023

5,042

5,042

Fair value adjustments

(2,470)

(2,470)

Disposals

(2,572)

(2,572)

At 16 September 2024

-

-

6

Debtors

Current

2024
£

2023
£

Prepayments

-

843

Other debtors

-

15,204

 

-

16,047

 

Aggretron Limited

Notes to the Financial Statements for the Period from 1 July 2023 to 16 September 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

10,493

9,503

Taxation and social security

 

68,642

-

Accruals and deferred income

 

4,620

10,733

 

83,755

20,236

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Share of £1 each

100

100

100

100

       

9

Related party transactions

During the year, the company engaged in the following related party transactions:

Directors:

• The company advanced loans totaling £360 to the directors.
• The directors repaid loans amounting to £15,548.
• An interest rate of 2.5% was applied to these loans.
• As of the balance sheet date, the directors owed the company £nil (2023: £15,188).

Parent Company:

• As of the balance sheet date, the company owed £10,493 to the parent company (2023: £9,503).