REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
for |
Ags Property Ventures Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
for |
Ags Property Ventures Ltd |
Ags Property Ventures Ltd (Registered number: 11403513) |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Statement of Financial Position | 1 |
Notes to the Financial Statements | 3 |
Ags Property Ventures Ltd (Registered number: 11403513) |
Statement of Financial Position |
30 June 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investment property | 5 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
Ags Property Ventures Ltd (Registered number: 11403513) |
Statement of Financial Position - continued |
30 June 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Fair value reserve | 10 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the director and authorised for issue on |
Ags Property Ventures Ltd (Registered number: 11403513) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Ags Property Ventures Ltd is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the fair value of rent received or receivable from the investment properties, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Computer equipment | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Ags Property Ventures Ltd (Registered number: 11403513) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | PROPERTY, PLANT AND EQUIPMENT |
Computer |
equipment |
£ |
COST |
At 1 July 2023 |
Additions |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
Ags Property Ventures Ltd (Registered number: 11403513) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2023 |
Additions |
Revaluations | 84,770 |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
Investment property situated at 67 Church Street, Penrhiwceiber, CF45 3YB is under a charge from The Mortgage Works (UK) PLC. The charge was created on 13 September 2019. |
Investment property situated at 18 Monmouth Street, Mountain Ash, CF45 3NJ is under a charge from The Charter Court Financial Services Limited charge was created on 11 May 2021. |
Investment property situated at 23 Webster Street, Treharris, CF46 5HP is under a charge from The Mortgage Works (UK) PLC. The charge was created on 28 January 2022. |
Investment property situated at 157 Rhys Street, Trealaw, Tonypandy, Mid Glamorgan, CF40 2QF is under a charge from Chl Mortgages for Intermediaries Limited charge was created on 23 January 2023. |
Investment property situated at 61 Seymour Street, Aberdare, CF44 7BD is under a charge from Landbay Partners Limited. The charge was created on 18 September 2023. |
Investment property situated at 8 Albert Street, Pentre, CF41 7JX is under a charge from Onesavings Bank PLC. The charge was created on 13 October 2023. |
Investment property situated at 129 Duffryn Street, Ferndale, CF43 4EH is under a charge from Onesavings Bank PLC. The charge was created on 19 February 2024. |
Investment property situated at 101 High Street, Porth, CF39 9EU is under a charge from Landbay Partners Limited. The charge was created on 06 June 2024. |
Investment property situated at 20 Henry Street, Hopkinstown, Pontypridd, CF37 2RG is under a charge from Giuseppe Antonio Digiovanna. The charge was created on 10 June 2024. |
Ags Property Ventures Ltd (Registered number: 11403513) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
5. | INVESTMENT PROPERTY - continued |
Fair value at 30 June 2024 is represented by: |
£ |
Valuation in 2020 | 2,781 |
Valuation in 2021 | 1,007 |
Valuation in 2022 | 25,422 |
Valuation in 2023 | 106,357 |
Valuation in 2024 | 84,770 |
Cost | 874,143 |
1,094,480 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
Ags Property Ventures Ltd (Registered number: 11403513) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.6.24 | 30.6.23 |
£ | £ |
Bank loans |
The loan amounting to £51,234 is secured by the way of charge on the property situated at 67 Church Street, Penrhiwceiber, CF45 3YB (disclosed as investment property). The charge was created in the name of The Mortgage Works (UK) PLC on 13 September 2019. |
The loan amounting to £51,258 is secured by the way of charge on the property situated at 18 Monmouth Street, Mountain Ash, CF45 3NJ (disclosed as investment property). The charge was created in the name of Charter Court Financial Services Limited on 11 May 2021. |
The loan amounting to £87,232 is secured by the way of charge on the property situated at 23 Webster Street, Treharris, CF46 5HP (disclosed as investment property). The charge was created in the name of The Mortgage Works (UK) PLC on 28 January 2022. |
The loan amounting to £95,605 is secured by the way of charge on the property situated at 157 Rhys Street, Tonypandy, CF40 2QF (disclosed as investment property). The charge was created in the name of Chl Mortgages for Intermediaries Limited on 23 January 2023. |
The loan amounting to £89,078 is secured by the way of charge on the property situated at 61 Seymour Street, Aberdare, CF44 7BD (disclosed as investment property). The charge was created in the name of Landbay Partners Limited on 18 September 2023. |
The loan amounting to £102,488 is secured by the way of charge on the property situated at 8 Albert Street, Pentre, CF41 7JX (disclosed as investment property). The charge was created in the name of Onesavings Bank PLC on 13 October 2023. |
The loan amounting to £92,685 is secured by the way of charge on the property situated at 129 Duffryn Street, Ferndale, CF43 4EH (disclosed as investment property). The charge was created in the name of Onesavings Bank PLC on 19 February 2024. |
The loan amounting to £100,425 is secured by the way of charge on the property situated at 101 High Street, Porth, CF39 9EU (disclosed as investment property). The charge was created in the name of Landbay Partners Limited on 06 June 2024. |
The loan amounting to £110,000 is secured by the way of charge on the property situated at 20 Henry Street, Hopkinstown, Pontypridd, CF37 2RG (disclosed as investment property). The charge was created in the name of Giuseppe Antonio Digiovanna on 10 June 2024. |
Ags Property Ventures Ltd (Registered number: 11403513) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.24 | 30.6.23 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 July 2023 |
Transfer to/from reserves | 74,960 |
At 30 June 2024 |
11. | RELATED PARTY DISCLOSURES |
The company owes £190,357 (2023: £179,951) to its director, Mr David Martin Shallow who is also a sole shareholder of the company as at accounting year end date. |