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REGISTERED NUMBER: 04541906 (England and Wales)














ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

AGENT X LIMITED

AGENT X LIMITED (REGISTERED NUMBER: 04541906)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


AGENT X LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mr Antonis Sophocli
Mrs Sophoulla Sophocli





SECRETARY: Mr Antonis Sophocli





REGISTERED OFFICE: c/o Michael Filiou Ltd
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS





REGISTERED NUMBER: 04541906 (England and Wales)





ACCOUNTANTS: Michael Filiou Ltd
Chartered Certified Accountants
www.michaelfiliou.com
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS

AGENT X LIMITED (REGISTERED NUMBER: 04541906)

ABRIDGED BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 29,507 102,998
Investment property 6 5,188,062 5,249,549
5,217,569 5,352,547

CURRENT ASSETS
Debtors 63,577 87,976
Cash at bank 79,359 2,505
142,936 90,481
CREDITORS
Amounts falling due within one year 1,108,260 940,426
NET CURRENT LIABILITIES (965,324 ) (849,945 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,252,245

4,502,602

CREDITORS
Amounts falling due after more than one year 7 (2,045,695 ) (2,501,219 )

PROVISIONS FOR LIABILITIES (202,955 ) (217,470 )
NET ASSETS 2,003,595 1,783,913

CAPITAL AND RESERVES
Called up share capital 8 1,010 1,000
Fair value reserve 9 821,454 821,454
Retained earnings 9 1,181,131 961,459
SHAREHOLDERS' FUNDS 2,003,595 1,783,913

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

AGENT X LIMITED (REGISTERED NUMBER: 04541906)

ABRIDGED BALANCE SHEET - continued
30 SEPTEMBER 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





Mr Antonis Sophocli - Director


AGENT X LIMITED (REGISTERED NUMBER: 04541906)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Agent X Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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 Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There were no judgements and estimates that had significant effect on the amounts recognised in the financial statements.

Turnover
Turnover represents rent receivable exclusive of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% straight line
Fixtures, fittings and equip - 25% straight line

Investment property
Investment property is shown at most recent valuation and is held for long-term investment. Investment property is initially recognised at cost which includes purchase cost and any directly attributable expenditure. Investment property whose fair value can be measured reliably are carried at fair value. The surplus or deficit is recognised in the income statement accumulated in the non-distributable reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the income statement for the period. The company engages independent valuers to assist the directors in determining fair value. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

AGENT X LIMITED (REGISTERED NUMBER: 04541906)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


3. ACCOUNTING POLICIES - continued

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 accounts receivable and payable, loans from banks and other third parties.

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

AGENT X LIMITED (REGISTERED NUMBER: 04541906)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023
and 30 September 2024 333,488
DEPRECIATION
At 1 October 2023 230,490
Charge for year 73,491
At 30 September 2024 303,981
NET BOOK VALUE
At 30 September 2024 29,507
At 30 September 2023 102,998

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 5,249,549
Additions 687,624
Disposals (749,111 )
At 30 September 2024 5,188,062
NET BOOK VALUE
At 30 September 2024 5,188,062
At 30 September 2023 5,249,549

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2003 198,771
Valuation in 2005 174,352
Valuation in 2006 130,000
Valuation in 2007 170,000
Valuation in 2008 (185,000 )
Valuation in 2017 524,770
Valuation in 2023 119,776
Valuation in 2024 (83,457 )
Cost 4,138,850
5,188,062

AGENT X LIMITED (REGISTERED NUMBER: 04541906)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans - more than 5 years 1,350,630 1,843,975

The bank loans are secured by charges over the properties and assets of the company in favour HSBC UK Bank PLC and Santander UK PLC.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
10 Ordinary £1 10 1,000
(2023 - 1,000)
380 Ordinary A £1 380 -
380 Ordinary B £1 380 -
80 Ordinary C £1 80 -
80 Ordinary D £1 80 -
80 Ordinary E £1 80 -
1,010 1,000

During the year 1,000 Ordinary shares were converted into 380 Ordinary A shares, 380 Ordinary B shares, 80 Ordinary C shares, 80 Ordinary D shares and 80 Ordinary E shares.

The company also issued a further 10 Ordinary shares during the year, which were allotted and fully paid.

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 October 2023 961,459 821,454 1,782,913
Profit for the year 219,672 219,672
At 30 September 2024 1,181,131 821,454 2,002,585

AGENT X LIMITED (REGISTERED NUMBER: 04541906)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


10. RELATED PARTY DISCLOSURES

The directors also control Fresco Fisheries (UK) Limited as they hold a majority of its issued share capital. Fresco Prime Ltd is a 100% subsidiary of Fresco Fisheries (UK) Limited.

At the balance sheet date, the company owed £56,000 (2023 - £11,000) to Fresco Prime Ltd, owed £23,000 (2023 - £23,000) to Alpha Bears Day Care Nursery and £678,233 (2023 - £570,183) to Fresco Fisheries (UK) Ltd.

At the balance sheet date, Ignite Fitness Group Ltd owed £54,526 (2023 - £77,226). During the year the company gave loan to Ignite Fitness Group Ltd totalling £133,800 and received repayments £156,500.

11. CONTROLLING PARTY

The directors, Mr Anthony Sophocli and his wife Mrs Sophie Sophocli, control the company by virtue of a controlling interest of 100% of the issued voting ordinary share capital of the company.