2023-06-012024-05-312024-05-31false09042116AGESCO LONDON 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AGESCO LONDON LTD

Registered Number
09042116
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

AGESCO LONDON LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

CANO, Mercedes
CARMAN, Christopher Graham
CARMAN, Kristina Melanie
WIGGLESWORTH, Antony

Company Secretary

CARMAN, Christopher

Registered Address

57 Ripplevale Grove
London
N1 1HS

Registered Number

09042116 (England and Wales)
AGESCO LONDON LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets314,64113,055
14,64113,055
Current assets
Debtors57,62228,785
Cash at bank and on hand18,17340,685
75,79569,470
Creditors amounts falling due within one year4(128,550)(129,966)
Net current assets (liabilities)(52,755)(60,496)
Total assets less current liabilities(38,114)(47,441)
Creditors amounts falling due after one year5(10,572)(20,752)
Net assets(48,686)(68,193)
Capital and reserves
Called up share capital8080
Profit and loss account(48,766)(68,273)
Shareholders' funds(48,686)(68,193)
The financial statements were approved and authorised for issue by the Board of Directors on 28 February 2025, and are signed on its behalf by:
CARMAN, Christopher Graham
Director
Registered Company No. 09042116
AGESCO LONDON LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings10
Office Equipment5
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Vehicles

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 June 232,10079134,02836,919
Additions--6,2776,277
At 31 May 242,10079140,30543,196
Depreciation and impairment
At 01 June 23-24423,62023,864
Charge for year-794,6124,691
At 31 May 24-32328,23228,555
Net book value
At 31 May 242,10046812,07314,641
At 31 May 232,10054710,40813,055
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-2,831
Bank borrowings and overdrafts9,9949,994
Taxation and social security27,38318,667
Other creditors91,17398,474
Total128,550129,966
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts10,57220,752
Total10,57220,752