Company Registration No. 01163774 (England and Wales)
AGRAPO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
John Cumming Ross Limited
Chartered Certified Accountants
1st Floor, Kirkland House
11-15 Peterborough Road
Harrow
Middlesex
HA1 2AX
AGRAPO LIMITED
COMPANY INFORMATION
Directors
Mr S P Rajabali
Miss F Rajabali
Mr Z Lalji
Secretary
Mrs S B Rajabali
Company number
01163774
Registered office
53 High Street
Teddington
Middlesex
TW11 8HA
Accountants
John Cumming Ross Limited
Chartered Certified Accountants
1st Floor, Kirkland House
11-15 Peterborough Road
Harrow
Middlesex
HA1 2AX
AGRAPO LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 10
AGRAPO LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF AGRAPO LIMITED FOR THE YEAR ENDED 30 APRIL 2024
- 1 -

The following reproduces text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited financial statements set out on pages 2 to 10 have been extracted.

"In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Agrapo Limited for the year ended 30 April 2024 set out on pages 3 to 12 from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/about-us/regulation/rulebook.html.

Our work has been undertaken solely to prepare for your approval the financial statements of Agrapo Limited and state those matters that we have agreed to state to the Board of Directors of Agrapo Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Agrapo Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Agrapo Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Agrapo Limited. You consider that Agrapo Limited 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 financial statements of Agrapo Limited. 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 financial statements.

 

 

John Cumming Ross Limited
Chartered Certified Accountants
1st Floor, Kirkland House
11-15 Peterborough Road
Harrow
Middlesex
HA1 2AX
"
30 January 2025
AGRAPO LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,172,818
1,237,046
Investment properties
5
1,485,824
1,100,000
Investments
6
408,654
448,654
3,067,296
2,785,700
Current assets
Stocks
179,916
148,191
Debtors
7
211,751
603,053
Cash at bank and in hand
888,496
950,110
1,280,163
1,701,354
Creditors: amounts falling due within one year
8
(439,666)
(389,145)
Net current assets
840,497
1,312,209
Total assets less current liabilities
3,907,793
4,097,909
Creditors: amounts falling due after more than one year
9
-
0
(34,353)
Provisions for liabilities
10
(114,383)
(122,167)
Net assets
3,793,410
3,941,389
Capital and reserves
Called up share capital
12
100
100
Other reserve - non distributable
13
446,653
446,653
Profit and loss reserves - distributable
14
3,346,657
3,494,636
Total equity
3,793,410
3,941,389

The directors of the company have taken advantage under section 444 of the Companies Act 2006 to not deliver a copy of the directors' report and the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

AGRAPO LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 29 January 2025 and are signed on its behalf by:
Mr S P Rajabali
Director
Company Registration No. 01163774
AGRAPO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
1
Accounting policies
Company information

Agrapo Limited is a private company limited by shares incorporated in England and Wales. The registered office is 53 High Street, Teddington, Middlesex, TW11 8HA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention and modified to include the revaluation of freehold properties, investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet 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. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents amounts receivable for goods dispensed, sales of pharmaceutical products and income from dental practice net of VAT and trade discounts.

1.4
Intangible fixed assets - goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life at 10% on a straight line basis.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% p.a. on a straight line method
Fixtures and fittings
20% p.a. on a reducing balance method
Motor vehicles
15% p.a. on a straight line method

Freehold land is not depreciated.

1.6
Investment properties

Investment properties, which are properties held to earn rentals and/or for capital appreciation, are initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus on revaluation is recognised in the profit and loss account.

1.7
Fixed asset investments

Fixed asset investment is stated at cost.

AGRAPO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
1.8
Stocks

Stocks are valued at the lower of cost and net realisable value. Where necessary, provision is made for obsolete, slow moving and defective stocks.

1.9
Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and trade and other creditors and bank loan.

 

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 the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors and bank loan are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and the movements in the deferred tax due to the adjustment to the capital allowance and revaluation of the investment properties.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

AGRAPO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 6 -
1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased assets are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
17
15
3
Tangible fixed assets
Land and buildings
Plant and machinery
Total
£
£
£
Cost
At 1 May 2023
1,320,449
581,074
1,901,523
Additions
-
0
788
788
At 30 April 2024
1,320,449
581,862
1,902,311
Depreciation and impairment
At 1 May 2023
280,202
384,275
664,477
Depreciation charged in the year
26,409
38,607
65,016
At 30 April 2024
306,611
422,882
729,493
Carrying amount
At 30 April 2024
1,013,838
158,980
1,172,818
At 30 April 2023
1,040,247
196,799
1,237,046
AGRAPO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
4
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
3,000
Amortisation and impairment
At 1 May 2023 and 30 April 2024
3,000
Carrying amount
At 30 April 2024
-
0
At 30 April 2023
-
0
5
Investment property
2024
£
Fair value
At 1 May 2023
1,100,000
Additions
385,824
At 30 April 2024
1,485,824

Investment properties were revalued by the Directors. The fair value of the investment properties have been arrived at on the basis of a valuation carried out at 30 April 2024 by the Directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

6
Fixed asset investments
2024
2023
£
£
Other investments other than loans
408,654
448,654
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 May 2023
448,654
Disposals
(40,000)
At 30 April 2024
408,654
Carrying amount
At 30 April 2024
408,654
At 30 April 2023
448,654
AGRAPO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 8 -
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
102,337
115,284
Other debtors
66,044
487,769
168,381
603,053
Deferred tax asset
11
43,370
-
0
211,751
603,053
8
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
32,609
30,767
Trade creditors
246,081
261,621
Corporation tax
10,517
60,237
Other taxation and social security
1,849
2,793
Other creditors
148,610
33,727
439,666
389,145
9
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
-
0
34,353

The bank loan of £34,353 (2023 : £65,120) is secured by fixed and floating charges over the company's freehold properties.

 

10
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
11
114,383
122,167
AGRAPO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 9 -
11
Deferred taxation

The following are the major deferred tax assets and liabilities recognised by the company and movements thereon:

Liabilities
Liabilities
Assets
Assets
2024
2023
2024
2023
Balances:
£
£
£
£
Accelerated capital allowances
32,136
39,921
-
-
Tax losses
-
-
43,370
-
Revaluations
82,247
82,246
-
-
114,383
122,167
43,370
-
2024
Movements in the year:
£
Liability at 1 May 2023
122,167
Credit to profit or loss
(51,154)
Liability at 30 April 2024
71,013
12
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
13
Other reserve
2024
2023
£
£
At the beginning and end of the year
446,653
446,653
14
Reserves

The only movement in reserves for the year ended 30 April 2024 is loss for the year and year ended 30 April 2023 was profit for the year.

15
Financial commitments, guarantees and contingent liabilities

Operating lease commitments not included in the balance sheet amount to £53,000 (2023 - £28,000).

AGRAPO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 10 -
16
Related party transactions
Transactions with related parties

At the balance sheet date amount due to/(due from) the director, Mr S P Rajabali was £103,984 (2023 : (£443,550)).

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