Company Registration No. 11174010 (England and Wales)
AGILITY HOLDINGS (UK) LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
Agility Holdings (UK) Limited
AGILITY HOLDINGS (UK) LIMITED
Company Information
Directors
Praxis Directors One (UK) Limited
J L Gallienne
(Resigned 22 August 2024)
A K Fairclough
(Appointed 22 August 2024)
Secretary
Praxis Secretaries (UK) Limited
Company number
11174010
Registered office
5th Floor
2 Copthall Avenue
London
United Kingdom
EC2R 7DA
AGILITY HOLDINGS (UK) LIMITED
CONTENTS
Page
Directors' report
1
Income statement
2
Statement of Financial Position
3
Statement of changes in equity
4
Notes to the financial statements
5 - 8
AGILITY HOLDINGS (UK) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JANUARY 2024
- 1 -
The Directors present their annual report and unaudited financial statements of Agility Holdings (UK) Limited (the “Company”) for the year ended 31 January 2024.
Principal activities
The principal activity of the company continued to be that of an investment property holding company.
Results and dividends
The Statement of Comprehensive Income for the year is set out on page 2.
Dividends paid for the year under review amounted to £NIL (2023: £NIL).
Directors
The Directors who held office during the year and through to the date of signing of the financial statements were as follows:
Praxis Directors One (UK) Limited
J L Gallienne
(Resigned 22 August 2024)
A K Fairclough
(Appointed 22 August 2024)
Going concern
After making all reasonable enquiries the directors believe that it is appropriate to continue to adopt the going concern basis in the preparation of the financial statements. In forming their assessment, the directors have considered the impact of the ongoing global events on the Company and its counterparties and its ability to continue to pay its liabilities as they fall due.
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
A K Fairclough
Director
31 January 2025
AGILITY HOLDINGS (UK) LIMITED
INCOME STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
2024
2023
£
£
Turnover
10,065
10,825
Administrative expenses
(41,598)
(28,836)
Loss before taxation
(31,533)
(18,011)
Tax on loss
Loss for the financial year
(31,533)
(18,011)
The income statement has been prepared on the basis that all operations are continuing operations.
AGILITY HOLDINGS (UK) LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 JANUARY 2024
31 January 2024
- 3 -
2024
2023
Notes
£
£
£
£
Non-current assets
Investment property
3
1,686,533
1,686,533
Current assets
Debtors
4
21,851
21,753
Cash at bank and in hand
19,371
15,089
41,222
36,842
Creditors: amounts falling due within one year
5
(18,435)
(12,522)
Net current assets
22,787
24,320
Total assets less current liabilities
1,709,320
1,710,853
Creditors: amounts falling due after more than one year
6
(1,766,533)
(1,736,533)
Net liabilities
(57,213)
(25,680)
Capital and reserves
Called up share capital
7
10
10
Profit and loss reserves
(57,223)
(25,690)
Total equity
(57,213)
(25,680)
For the financial year ended 31 January 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 31 January 2025 and are signed on its behalf by:
A K Fairclough
Director
Company registration number 11174010 (England and Wales)
AGILITY HOLDINGS (UK) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 February 2022
10
(7,679)
(7,669)
Year ended 31 January 2023:
Loss and total comprehensive income
-
(18,011)
(18,011)
Balance at 31 January 2023
10
(25,690)
(25,680)
Year ended 31 January 2024:
Loss and total comprehensive income
-
(31,533)
(31,533)
Balance at 31 January 2024
10
(57,223)
(57,213)
AGILITY HOLDINGS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
1
Accounting policies
Company information
Agility Holdings (UK) Limited (the "Company") is a private company limited by shares incorporated in England and Wales on 29 January 2018, registration number 11174010. The registered office is 5th Floor, 2 Copthall Avenue, London, United Kingdom, EC2R 7DA.
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 UK 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 £, 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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is 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. Changes in fair value are recognised in profit or loss.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.
AGILITY HOLDINGS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 6 -
1.5
Financial instruments
The Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets
Basic financial assets, which include 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.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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 or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.6
Equity instruments
Equity instruments issued by the Company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
1.7
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 non-current assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
AGILITY HOLDINGS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 7 -
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
-
3
Investment property
2024
£
Fair value
At 1 February 2023 and 31 January 2024
1,686,533
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
15,722
16,085
Prepayments and accrued income
6,129
5,668
21,851
21,753
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
5,160
7,620
Deferred income
915
Accruals
12,360
4,902
18,435
12,522
AGILITY HOLDINGS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 31 JANUARY 2024
- 8 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other borrowings
1,766,533
1,736,533
The other borrowings of £1,736,533 relates to a loan due to a related party, Agility Property Limited. The loan is interest free, unsecured and repayable on demand.
7
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
10 Ordinary Shares of £1.00 each
10
10
10
10
8
Related party transactions
The Company has taken advantage of the exemption in FRS 102 section 1AC.35 “Related Party Disclosures” from disclosing transactions with wholly owned members of the Group.
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