Agio Properties Ltd 08538907 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is Property Digita Accounts Production Advanced 6.30.9574.0 true true 08538907 2023-06-01 2024-05-31 08538907 2024-05-31 08538907 bus:OrdinaryShareClass1 2024-05-31 08538907 core:CurrentFinancialInstruments 2024-05-31 08538907 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 08538907 core:MotorVehicles 2024-05-31 08538907 core:OtherPropertyPlantEquipment 2024-05-31 08538907 bus:SmallEntities 2023-06-01 2024-05-31 08538907 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 08538907 bus:FullAccounts 2023-06-01 2024-05-31 08538907 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 08538907 bus:RegisteredOffice 2023-06-01 2024-05-31 08538907 bus:Director1 2023-06-01 2024-05-31 08538907 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 08538907 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08538907 core:MotorVehicles 2023-06-01 2024-05-31 08538907 core:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 08538907 countries:UnitedKingdom 2023-06-01 2024-05-31 08538907 2023-05-31 08538907 core:MotorVehicles 2023-05-31 08538907 core:OtherPropertyPlantEquipment 2023-05-31 08538907 2022-06-01 2023-05-31 08538907 2023-05-31 08538907 bus:OrdinaryShareClass1 2023-05-31 08538907 core:CurrentFinancialInstruments 2023-05-31 08538907 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 08538907 core:MotorVehicles 2023-05-31 08538907 core:OtherPropertyPlantEquipment 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08538907

Agio Properties Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Agio Properties Ltd

Contents

Director's Report

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Agio Properties Ltd

Director's Report for the Year Ended 31 May 2024

The director presents his report and the financial statements for the year ended 31 May 2024.

Director of the company

The director who held office during the year was as follows:

Mr Alan Burton

Principal activity

The principal activity of the company is Property

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 17 December 2024
 

.........................................
Mr Alan Burton
Director

 

Agio Properties Ltd

(Registration number: 08538907)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

744

974

Investment property

6

645,000

151,309

 

645,744

152,283

Current assets

 

Debtors

7

179

-

Cash at bank and in hand

 

15,304

116,497

 

15,483

116,497

Creditors: Amounts falling due within one year

8

(96,133)

(211,563)

Net current liabilities

 

(80,650)

(95,066)

Net assets

 

565,094

57,217

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

564,994

57,117

Shareholders' funds

 

565,094

57,217

For the financial year ending 31 May 2024 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Agio Properties Ltd

(Registration number: 08538907)
Balance Sheet as at 31 May 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 17 December 2024
 

.........................................
Mr Alan Burton
Director

 

Agio Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 22 Enterprise Business Centre
Enterprise House
Carlton Road
Worksop
Notts
S81 7QF

These financial statements were authorised for issue by the director on 17 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Agio Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Agio Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

230

303

 

Agio Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

5

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 June 2023

4,000

1,000

5,000

At 31 May 2024

4,000

1,000

5,000

Depreciation

At 1 June 2023

3,288

738

4,026

Charge for the year

178

52

230

At 31 May 2024

3,466

790

4,256

Carrying amount

At 31 May 2024

534

210

744

At 31 May 2023

712

262

974

6

Investment properties

2024
£

At 1 June

151,309

Fair value adjustments

493,691

At 31 May

645,000

There has been no valuation of investment property by an independent valuer.

7

Debtors

Current

2024
£

2023
£

Prepayments

179

-

 

179

-

 

Agio Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

89,144

205,979

Taxation and social security

 

3,348

3,583

Accruals and deferred income

 

3,641

2,000

Other creditors

 

-

1

 

96,133

211,563

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

10

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

89,144

205,979