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Registered Number: 14737206
England and Wales

 

 

 

AGBOLE DEVELOPMENTS LTD


Report of the Directors and Unaudited Financial Statements
 


Period of accounts

Start date: 17 March 2023

End date: 31 March 2024
Directors David Robinson
Devon Robinson
Registered Number 14737206
Registered Office 137d Eglinton Hill
London
England
SE18 3DU
Accountants TJ Smith
7 Bell Yard
London
WC2A 2JR
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 March 2024.
Principal activities
Principal activity of the company during the financial period was that of a property investment company. 
Directors
The directors who served the company throughout the period were as follows:
David Robinson
Devon Robinson
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
David Robinson
Director

Date approved: 14 January 2025
2
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Agbole Developments Ltd for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Agbole Developments Ltd for the year ended 31 March 2024 which comprise of 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 company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Agbole Developments Ltd , as a body, in accordance with the terms of our engagement letter dated 14 January 2025. Our work has been undertaken solely to prepare for your approval the accounts of Agbole Developments Ltd and state those matters that we have agreed to state to the Board of Directors of Agbole Developments Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Agbole Developments Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Agbole Developments Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Agbole Developments Ltd . You consider that Agbole Developments Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Agbole Developments Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 March 2024



....................................................
TJ Smith
7 Bell Yard
London
WC2A 2JR
14 January 2025
3
 
 
Notes
 
2024
£
Turnover 7,896 
Cost of sales (127)
Gross profit 7,769 
Administrative expenses (16,515)
Other operating expenses (210)
Operating loss (8,956)
Interest payable and similar charges 3 (5,057)
Profit/(Loss) on ordinary activities before taxation (14,013)
Tax on profit on ordinary activities
Profit/(Loss) for the financial period (14,013)
 
4
 
 
Notes
 
2024
£
Fixed assets    
Tangible fixed assets 4 353,551 
353,551 
Current assets    
Debtors 5 1 
Cash at bank and in hand 5 
6 
Creditors: amount falling due within one year 6 (122,502)
Net current assets (122,496)
 
Total assets less current liabilities 231,055 
Creditors: amount falling due after more than one year 7 (245,067)
Net assets (14,012)
 

Capital and reserves
   
Called up share capital 1 
Profit and loss account 8 (14,013)
Shareholders' funds (14,012)
 


For the period ended 31 March 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors on 14 January 2025 and were signed on its behalf by:


-------------------------------
David Robinson
Director
5
General Information
Agbole Developments Ltd is a private company, limited by shares, registered in England and Wales, registration number 14737206, registration address 137d Eglinton Hill, London, England, SE18 3DU.

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.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
2.

Average number of employees

Average number of employees during the period was 2.
3.

Interest payable and similar charges

2024
£
Mortgage Interest 5,057 
5,057 

4.

Tangible fixed assets

Cost or valuation Land and Buildings   Total
  £   £
At 17 March 2023  
Additions 353,551    353,551 
Disposals  
At 31 March 2024 353,551    353,551 
Depreciation
At 17 March 2023  
Charge for period  
On disposals  
At 31 March 2024  
Net book values
Closing balance as at 31 March 2024 353,551    353,551 
Opening balance as at 17 March 2023  


5.

Debtors: amounts falling due within one year

2024
£
Called up Share Capital Not Paid 1 
1 

6.

Creditors: amount falling due within one year

2024
£
Accrued Expenses 600 
Tenant Deposits 500 
Directors' Current Accounts 121,402 
122,502 

7.

Creditors: amount falling due after more than one year

2024
£
Bank Loans & Overdrafts 245,067 
245,067 

8.

Profit and loss account

  2024
£
Balance at 17 March 2023
Profit/Loss for the financial period (14,013)
Balance at 31 March 2024 (14,013)

6
  2024
£
Turnover    
Sales   7,896 
  7,896 
Cost of sales    
Water 127 
  (127)
Gross profit   7,769 
Administrative expenses    
Accountancy Fees 600 
Legal and Professional Fees (Allowable) 15,381 
Use of Home as Office 520 
General Travel Expenses (1)
Bank Charges 15 
  (16,515)
Other operating expenses    
Repairs & Maintenance 210 
  (210)
Operating loss   (8,956)
Interest payable and similar charges    
Mortgage Interest 5,057 
  (5,057)
Profit/(Loss) on ordinary activities before taxation   (14,013)
Profit/(Loss) for the financial period   (14,013)
 
7