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REGISTERED NUMBER: 10656276 (England and Wales)















AGI Holdings Ltd

Unaudited Financial Statements

for the Year Ended 29 February 2024






AGI Holdings Ltd (Registered number: 10656276)

Contents of the Financial Statements
for the year ended 29 February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AGI Holdings Ltd

Company Information
for the year ended 29 February 2024







Directors: Mr A Akhtar
Ms Y Lam





Registered office: Mitchells Farm
The Lords Barn
London Road
Stapleford Tawney
Essex
RM4 1SP





Registered number: 10656276 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

AGI Holdings Ltd (Registered number: 10656276)

Balance Sheet
29 February 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 720 864
Investment property 5 3,707,516 3,541,974
3,708,236 3,542,838

Current assets
Debtors 6 1,303,478 162,500
Cash at bank 40,867 6,620
1,344,345 169,120
Creditors
Amounts falling due within one year 7 3,342,924 1,986,156
Net current liabilities (1,998,579 ) (1,817,036 )
Total assets less current liabilities 1,709,657 1,725,802

Creditors
Amounts falling due after more than one
year

8

(457,404

)

(496,199

)

Provisions for liabilities 10 (231,074 ) (175,616 )
Net assets 1,021,179 1,053,987

Capital and reserves
Called up share capital 11 100 100
Retained earnings 12 1,021,079 1,053,887
Shareholders' funds 1,021,179 1,053,987

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

AGI Holdings Ltd (Registered number: 10656276)

Balance Sheet - continued
29 February 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





Mr A Akhtar - Director


AGI Holdings Ltd (Registered number: 10656276)

Notes to the Financial Statements
for the year ended 29 February 2024


1. Statutory information

AGI Holdings Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover comprises revenue recognised by the company in respect of rents receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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, creditors, loans from the bank and other third parties, loans to related parties, and investment in ordinary shares.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

3. Employees and directors

The average number of employees during the year was NIL (2023 - NIL).

AGI Holdings Ltd (Registered number: 10656276)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


4. Tangible fixed assets
Plant and
machinery
£
Cost
At 1 March 2023
and 29 February 2024 1,440
Depreciation
At 1 March 2023 576
Charge for year 144
At 29 February 2024 720
Net book value
At 29 February 2024 720
At 28 February 2023 864

5. Investment property
Total
£
Fair value
At 1 March 2023 3,541,974
Additions 165,542
At 29 February 2024 3,707,516
Net book value
At 29 February 2024 3,707,516
At 28 February 2023 3,541,974

Investment property is stated at an original cost being the fair value as determined by the directors. This was on the basis of open market value for current use. The fair value represent the amount at which the assets could be exchanged between a knowledgeable, willing buyer and a knowledgeable, willing seller in an arms-length transaction at the date of valuation, in accordance with FRS102. In determining the fair value of investment property, the directors make use of historical and current market data as well as existing lease agreements.

As a result of the level of judgement used in arriving at the market valuations, the amount which may ultimately be realised in respect of any given property may differ from the valuations shown in the statement of financial position.

6. Debtors: amounts falling due within one year
2024 2023
£ £
Other debtors 1,303,478 162,500

7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 53,406 53,407
Taxation and social security 5,839 11,062
Other creditors 3,283,679 1,921,687
3,342,924 1,986,156

AGI Holdings Ltd (Registered number: 10656276)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 457,404 496,199

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 231,472 270,268

The bank loan is secured by way of a fixed and floating charge which covers all property or undertaking of the company.

9. Secured debts

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 510,810 549,606

Barclays Bank UK PLC holds two fixed and floating charges over the assets of the company.

10. Provisions for liabilities
2024 2023
£ £
Deferred tax
Other timing differences 231,074 175,616

Deferred tax
£
Balance at 1 March 2023 175,616
Provided during year 55,458
Balance at 29 February 2024 231,074

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
75 Ordinary-A-Shares 1 75 75
25 Ordinary-B-Shares 1 25 25
100 100

AGI Holdings Ltd (Registered number: 10656276)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


12. Reserves
Retained
earnings
£

At 1 March 2023 1,053,887
Deficit for the year (32,808 )
At 29 February 2024 1,021,079

Included in the retained earnings, the amount of £924,296 (2023: £924,296) relates to the revaluation of
investment property after making provision for deferred tax. This balance is not distributable until the properties are sold.

13. Related party disclosures

Included within other creditors is £557,033 (2023: £557,033) owed to the company directors, £2,517,181 (2023: £1,357,023) owed to a connected company and £203,750 (2023: £NIL) owed to a connected person.