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Registered number: 13213466
AGP Innovation Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Richards Associates Limited
North Lodge
Hawkesyard
Rugeley
Staffordshire
WS15 1PS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13213466
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 9,900 11,000
9,900 11,000
CURRENT ASSETS
Debtors 5 540 4,265
Cash at bank and in hand 831 7,438
1,371 11,703
Creditors: Amounts Falling Due Within One Year 6 (30,466 ) (30,535 )
NET CURRENT ASSETS (LIABILITIES) (29,095 ) (18,832 )
TOTAL ASSETS LESS CURRENT LIABILITIES (19,195 ) (7,832 )
NET LIABILITIES (19,195 ) (7,832 )
CAPITAL AND RESERVES
Called up share capital 7 120 120
Profit and Loss Account (19,315 ) (7,952 )
SHAREHOLDERS' FUNDS (19,195) (7,832)
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A Thain
Director
26 November 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
AGP Innovation Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13213466 . The registered office is Unit 3 Bradley Court, Castle Donington, Derbyshire, DE74 2UT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
The directors continue to adopt the going concern basis of accounting in preparing financial statements.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Patents and licences are being amortised evenly over their estimated useful life of ten years.
2.4. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Intangible Assets
Other
£
Cost
As at 1 April 2023 11,000
As at 31 March 2024 11,000
Amortisation
As at 1 April 2023 -
Provided during the period 1,100
As at 31 March 2024 1,100
Net Book Value
As at 31 March 2024 9,900
As at 1 April 2023 11,000
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Page 4
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 540 4,265
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 91 210
Other creditors 30,375 30,325
30,466 30,535
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 120 120
8. Related Party Transactions
TBAT Innovation Limited
A company in which Mr S Stephens is also a director.
At the balance sheet date there was an outstanding loan balance due to TBAT Innovation Limited of £10,000 (2023: £10,000). This loan is interest free and repayable upon demand.
9. Ultimate Controlling Party
The company's ultimate controlling party is Mr A Thain by virtue of his ownership of the majority of the issued share capital in the company.
10. Going concern
Total liabilities exceed total assets, however, the company is able to meet its liabilities as they fall due.
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