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REGISTERED NUMBER: OC331408 (England and Wales)











REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

AGWF PROPERTY LLP

AGWF PROPERTY LLP (REGISTERED NUMBER: OC331408)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


AGWF PROPERTY LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: Invicta Estates Limited
A R Goldsmith
Prestigic Holdings Limited





REGISTERED OFFICE: Sterling House
27 Hatchlands Road
Redhill
Surrey
RH1 6RW





REGISTERED NUMBER: OC331408 (England and Wales)






AGWF PROPERTY LLP (REGISTERED NUMBER: OC331408)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2024


The members present their report with the financial statements of the LLP for the year ended 31 March 2024.

DESIGNATED MEMBERS
The designated members during the year under review were:

Invicta Estates Limited
A R Goldsmith
Prestigic Holdings Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The loss for the year before members' remuneration and profit shares was £4,822 (2023 - £360 loss).

MEMBERS' INTERESTS
Members' capital is subscribed by agreement on the purchase of a property. On the sale of a property the members' capital plus interest specific to that property is repaid, together with any profits arising on that transaction in the agreed proportions. Rental income and losses are credited to members' capital accounts. All of which are subject to priority and cross-collateralization provisions.

ON BEHALF OF THE MEMBERS:





Invicta Estates Limited - Designated member


31 January 2025

AGWF PROPERTY LLP (REGISTERED NUMBER: OC331408)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
£    £   

TURNOVER - -

Administrative expenses 4,822 360
OPERATING LOSS and
LOSS FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS




(4,822




)




(360




)

AGWF PROPERTY LLP (REGISTERED NUMBER: OC331408)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 2,714,011 2,714,011
Cash at bank 9,167 9,527
2,723,178 2,723,538
CREDITORS
Amounts falling due within one year 5 15,619 11,157
NET CURRENT ASSETS 2,707,559 2,712,381
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

2,707,559

2,712,381

LOANS AND OTHER DEBTS DUE TO
MEMBERS

6

2,707,559

2,712,381

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 6 2,707,559 2,712,381

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 31 January 2025 and were signed by:



Invicta Estates Limited - Designated member

AGWF PROPERTY LLP (REGISTERED NUMBER: OC331408)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

AGWF Property LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

3. EMPLOYEE INFORMATION

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,714,011 2,714,011

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 15,619 11,157

6. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members' other interests rank after unsecured creditors, and loans and other debts due to members rank pari passu with unsecured creditors in the event of winding up.

7. ULTIMATE CONTROLLING PARTY

The controlling party is Invicta estates Limited, a member of the LLP. The ultimate controlling party is Cedardrive Limited, which is controlled by Messrs W S and the estate of E S Fattal.

8. PRIOR SHARE OF PROFITS

In accordance with the terms set out in the Limited Liability Partnership Agreement there should be a prior share charged each year against the profits or losses arising both before and following the sale of properties.

It has been brought to the attention of the Members that the prior share has not been accounted for appropriately. At the date of signing these accounts the quantum of this prior share has not been determined.

Invicta Estates Limited reserve their contractual rights to be credited with the prior shares of profits which may ultimately prove due to them.

AGWF PROPERTY LLP (REGISTERED NUMBER: OC331408)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. JOINT VENTURE AGREEMENT

The Minority Members are responsible for producing the accounts and the Majority Member had relied upon them to do so. To the extent that the terms of the Limited Liability Agreement entered into on 28 January 2009 are inconsistent with and/or conflict with any of the rights and obligations of Consortium Commercial Developments Limited a sister company of Invicta Estates Limited, then the terms of the Joint Venture Agreement entered into on 12 March 2007 will apply in all respects.

It has since been established that Mr Goldsmith FRICS at all material times and a minority member had withheld a critical document that was fatal to his claim against Brabners and he must personally bear both his costs together with the costs borne by the majority in establishing these facts on an indemnity basis.

These liabilities estimated to be in excess of £200,000 have not been reflected in these accounts.

It has also been established that the chartered accountant engaged by the minority member ever since 1998 complied in all respects with the instructions of Mr Goldsmith a fact admitted by Mr Goldsmith by 2019.The extent of malaccounting for the LLP is unknown.