IRIS Accounts Production v25.1.4.42 12212343 director 1.10.23 30.9.24 30.9.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh122123432023-09-30122123432024-09-30122123432023-10-012024-09-30122123432022-09-30122123432022-10-012023-09-30122123432023-09-3012212343ns15:EnglandWales2023-10-012024-09-3012212343ns14:PoundSterling2023-10-012024-09-3012212343ns10:Director12023-10-012024-09-3012212343ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3012212343ns10:SmallEntities2023-10-012024-09-3012212343ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-3012212343ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3012212343ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3012212343ns10:FullAccounts2023-10-012024-09-3012212343ns10:RegisteredOffice2023-10-012024-09-3012212343ns5:CurrentFinancialInstruments2024-09-3012212343ns5:CurrentFinancialInstruments2023-09-3012212343ns5:Non-currentFinancialInstruments2024-09-3012212343ns5:Non-currentFinancialInstruments2023-09-3012212343ns5:ShareCapital2024-09-3012212343ns5:ShareCapital2023-09-3012212343ns5:RevaluationReserve2024-09-3012212343ns5:RevaluationReserve2023-09-3012212343ns5:RetainedEarningsAccumulatedLosses2024-09-3012212343ns5:RetainedEarningsAccumulatedLosses2023-09-3012212343ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3012212343ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-3012212343ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-09-3012212343ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-09-3012212343ns5:Secured2024-09-3012212343ns5:Secured2023-09-3012212343ns5:RevaluationReserve2023-09-30
REGISTERED NUMBER: 12212343 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

AG CATFOSS LTD

AG CATFOSS LTD (REGISTERED NUMBER: 12212343)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AG CATFOSS LTD

COMPANY INFORMATION
for the Year Ended 30 September 2024







DIRECTOR: J W Musgrave





REGISTERED OFFICE: c/o Musgrave Transport Limited
Catfoss Airfield, Catfoss Lane
Brandesburton
Driffield
East Yorkshire
YO25 8EJ





REGISTERED NUMBER: 12212343 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

AG CATFOSS LTD (REGISTERED NUMBER: 12212343)

BALANCE SHEET
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 438,891 438,891

CURRENT ASSETS
Debtors 5 2,428 5,000
Cash at bank 17,527 21,580
19,955 26,580
CREDITORS
Amounts falling due within one year 6 68,159 71,281
NET CURRENT LIABILITIES (48,204 ) (44,701 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

390,687

394,190

CREDITORS
Amounts falling due after more than one year 7 (153,791 ) (179,521 )

PROVISIONS FOR LIABILITIES (30,126 ) (30,126 )
NET ASSETS 206,770 184,543

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 90,377 90,377
Retained earnings 116,293 94,066
SHAREHOLDERS' FUNDS 206,770 184,543

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 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.

AG CATFOSS LTD (REGISTERED NUMBER: 12212343)

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.

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

The financial statements were approved by the director and authorised for issue on 13 May 2025 and were signed by:





J W Musgrave - Director


AG CATFOSS LTD (REGISTERED NUMBER: 12212343)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024


1. STATUTORY INFORMATION

AG Catfoss LTD is a private company limited by shares incorporated and domiciled in England. It has its registered office and principal place of business at Musgrave Transport, Catfoss Airfield, Catfoss Lane, Brandesburton, Driffield, East Yorkshire, YO25 8EJ.

The principal activity of the company is letting and operating of own or leased real estate.

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

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 Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date.

All sales are recognised at the point which the company has fulfilled its contractual obligations and the risks and rewards attached to the product, have been transferred to the customer.

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 balance sheet date.


AG CATFOSS LTD (REGISTERED NUMBER: 12212343)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 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 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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 438,891
NET BOOK VALUE
At 30 September 2024 438,891
At 30 September 2023 438,891

The investment properties were valued by the director on an open market basis on 30th September 2024.

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2020 120,502
Cost 318,389
438,891

The directors review investment properties annually and consider the valuation to be fairly stated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,428 -
Other debtors - 5,000
2,428 5,000

AG CATFOSS LTD (REGISTERED NUMBER: 12212343)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,750 9,750
Trade creditors 7,686 7,686
Taxation and social security 8,885 12,007
Other creditors 41,838 41,838
68,159 71,281

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 11,669 21,091
Other creditors 142,122 158,430
153,791 179,521

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 142,122 158,430

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 21,419 30,841
Other loans 172,122 188,430
193,541 219,271

The other loan funding is secured against the respective property to which the loan relates by a formal debenture.
The company took out a Covid government support loan in 2020 from the bank. The loan is repayable over 5 years by monthly instalments and carries interest at the rate of 2.5%.

9. RESERVES
Revaluation
reserve
£   
At 1 October 2023
and 30 September 2024 90,377

AG CATFOSS LTD (REGISTERED NUMBER: 12212343)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024


10. ULTIMATE CONTROLLING PARTY

The controlling party is J W Musgrave.