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Registered Number: 14732488
England and Wales

 

 

 

AGI & MART PROPERTY LTD


Abridged Accounts
 


Period of accounts

Start date: 15 March 2023

End date: 29 February 2024
Accountant’s report
You consider that the company is exempt from an audit for the year ended 29 February 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Iwona Accountancy Services Limited
29 February 2024



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

Iwona Accountancy Services Limited

Studio 209, Sunbeam Studios
Sunbeam Street
Wolverhampton
WV2 4PF
28 November 2024
1
 
 
Notes
 
2024
£
Fixed assets    
Tangible fixed assets 3 191,200 
191,200 
Current assets    
Debtors (79,028)
Cash at bank and in hand 1,120 
(77,908)
Creditors: amount falling due within one year (1,631)
Net current assets (79,539)
 
Total assets less current liabilities 111,661 
Creditors: amount falling due after more than one year (110,950)
Net assets 711 
 

Capital and reserves
   
Called up share capital 2 
Reserves 4 20,105 
Profit and loss account (19,396)
Shareholders' funds 711 
 


For the period ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 28 November 2024 and were signed on its behalf by:


-------------------------------
Agata Olszewska
Director
2
General Information
Agi & Mart Property Ltd is a private company, limited by shares, registered in England and Wales, registration number 14732488, registration address 16 Pale Manor Close, Malvern, WR14 1SZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 5 years Straight Line
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the period was 0.
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Investment properties   Improvements to property   Total
  £   £   £   £
At 15 March 2023      
Additions 1,500    160,000    12,091    173,591 
Disposals      
Revaluations   17,909      17,909 
At 29 February 2024 1,500    177,909    12,091    191,500 
Depreciation
At 15 March 2023      
Charge for period 300        300 
On disposals      
At 29 February 2024 300        300 
Net book values
Closing balance as at 29 February 2024 1,200    177,909    12,091    191,200 
Opening balance as at 15 March 2023      


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