1 November 2022 v2024.54.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP122840962022-11-012023-10-31122840962023-10-31122840962022-10-3112284096core:WithinOneYear2023-10-3112284096core:WithinOneYear2022-10-3112284096core:ShareCapital2023-10-3112284096core:ShareCapital2022-10-3112284096core:SharePremium2023-10-3112284096core:SharePremium2022-10-3112284096core:OtherReservesSubtotal2023-10-3112284096core:OtherReservesSubtotal2022-10-3112284096core:RetainedEarningsAccumulatedLosses2023-10-3112284096core:RetainedEarningsAccumulatedLosses2022-10-3112284096bus:Director12022-11-012023-10-3112284096bus:RegisteredOffice2022-11-012023-10-31122840962021-11-012022-10-311228409612022-11-012023-10-3112284096countries:EnglandWales2022-11-012023-10-3112284096bus:AuditExemptWithAccountantsReport2022-11-012023-10-3112284096bus:PrivateLimitedCompanyLtd2022-11-012023-10-3112284096bus:SmallEntities2022-11-012023-10-3112284096bus:FullAccounts2022-11-012023-10-31
Company registration number:
12284096
Agalmic Limited
Unaudited Filleted Financial Statements for the year ended
31 October 2023
Agalmic Limited
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Agalmic Limited
Year ended
31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
Agalmic Limited
for the year ended
31 October 2023
which comprise the income statement, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at icaew.com/​regulations.
This report is made solely to the Board of Directors of
Agalmic Limited
, as a body, in accordance with the terms of my engagement letter dated 28 October 2019. My work has been undertaken solely to prepare for your approval the
financial statements
of
Agalmic Limited
and state those matters that I have agreed to state to the Board of Directors of
Agalmic Limited
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
Agalmic Limited
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
Agalmic 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 loss of
Agalmic Limited
. You consider that
Agalmic Limited
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Agalmic Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Gordon & Co
Chartered Accountants and Business Advisors
4 Bloomsbury Square
London
WC1A 2RP
United Kingdom
Date:
31 October 2024
Agalmic Limited
Statement of Financial Position
31 October 2023
20232022
Note££
Current assets    
Debtors 5
190,128
 
125,485
 
Cash at bank and in hand
1,481
 
3,405
 
191,609
 
128,890
 
Creditors: amounts falling due within one year 6
(203,011
)
(129,208
)
Net current liabilities
(11,402
)
(318
)
Total assets less current liabilities (11,402 ) (318 )
Capital and reserves    
Called up share capital
300
 
300
 
Share premium
17,800
 
17,800
 
Other reserves
2,708
 
2,708
 
Profit and loss account
(32,210
)
(21,126
)
Shareholders deficit
(11,402
)
(318
)
For the year ending
31 October 2023
, 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 financial statements for the year in question in accordance with section 476;
  • The director acknowledges 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 October 2024
, and are signed on behalf of the board by:
Atul Sharma
Director
Company registration number:
12284096
Agalmic Limited
Notes to the Financial Statements
Year ended
31 October 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
7 The Thicket
,
Romsey
,
Hampshire
,
SO51 5SZ
, 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.

Going concern

The company has a net deficit as at 31 October 2023. The company is financed by a short term loan from the director. The director is not aware of any reason why the short term loan may be withdrawn. As a result the director continues to adopt the going concern basis of accounting.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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.

4 Average number of employees

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

5 Debtors

20232022
££
Other debtors
190,128
 
125,485
 

6 Creditors: amounts falling due within one year

20232022
££
Other creditors
203,011
 
129,208