Company registration number 09673802 (England and Wales)
AGON HOLDINGS FOUR LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
AGON HOLDINGS FOUR LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
AGON HOLDINGS FOUR LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Non-current assets
Investments
2
1
1
Current assets
Cash and cash equivalents
70
70
Current liabilities
4
(650)
(650)
Net current liabilities
(580)
(580)
Net liabilities
(579)
(579)
Equity
Called up share capital
5
100
100
Retained earnings
(679)
(679)
Total equity
(579)
(579)

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 15 May 2024 and are signed on its behalf by:
Mr C H B Oakshett
Director
Company registration number 09673802 (England and Wales)
AGON HOLDINGS FOUR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Agon Holdings Four Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Albany Courtyard, London, W1J OHF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) (including the adoption of the July 2015 amendments early) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under the Companies Act 2006 not to prepare consolidated accounts on the basis that the group qualifies as small. The financial statements present information about the company as an individual entity and not about its group.

 

1.2
Going concern

The company currently has negative reserves and is dependent upon the continued support of the Parent. On this basis, the Directors consider it appropriate to prepare the financial statements on the going concern basis.true

 

1.3
Non-current investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

AGON HOLDINGS FOUR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Non-current asset investments
2024
2023
£
£
Investments
1
1
Movements in non-current investments
Shares in group undertakings
£
Cost or valuation
At 1 April 2023 & 31 March 2024
1
Carrying amount
At 31 March 2024
1
At 31 March 2023
1
3
Subsidiaries

Details of the company's subsidiaries at 31 March 2024 are as follows:

AGON HOLDINGS FOUR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
3
Subsidiaries
(Continued)
- 4 -
Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Vikoma International Ltd
England
Design and manufacture of oil and chemical pollution control systems
Ordinary
100.00

The investment in subsidiary is stated at cost.

There are share charges over the shares held in the company's subsidiary undertaking.

4
Current liabilities
2024
2023
£
£
Other payables
650
650
5
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
800 A Ordinary Shares of 10p each
80
80
200 B Ordinary Shares of 10p each
20
20
100
100

A brief summary of the rights of each class of shares is as follows:

 

The 'A' shares have full rights to dividends, full voting rights and any holder of an 'A' share shall have; (i) two votes for each share held in respect of any proposed realisation or return of capital, (ii) any proposed refinancing of the liabilities of the group, (iii) any proposal to amend or significantly deviate from the business plan (iv) and the dismissal or recruitment of any senior employee.

 

The 'B' shares have full rights to dividends and any holder of a 'B' share shall have; (i) one vote for each 'B' held in respect of any proposed realisation or return of capital, (ii) any proposed refinancing of the liabilities of the group, (iii) any proposal to amend or significantly deviate from the business plan (iv) and the dismissal or recruitment of any senior employee.

 

 

6
Financial commitments, guarantees and contingent liabilities

The company has guaranteed the bank borrowing of its subsidiary. At 31 March 2024, the aggregate of these guaranteed borrowings amounted to £894,400 (2023: £1,169,600).

 

 

AGON HOLDINGS FOUR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
7
Controlling party

The company is controlled by Agathos Fund One LP (registered office - 5 Albany Courtyard, London, W1J 0HF), it's majority shareholder, a private equity fund which does not have a single controlling investor.

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