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Registration number: 11925720

Agility House Limited

Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Agility House Limited

(Registration number: 11925720)

Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

3

1,740,000

1,591,538

Investments

4

2

2

 

1,740,002

1,591,540

Current assets

 

Debtors

5

369,397

331,697

Cash at bank and in hand

 

5,700

4,329

 

375,097

336,026

Creditors: Amounts falling due within one year

6

(565,165)

(545,155)

Net current liabilities

 

(190,068)

(209,129)

Total assets less current liabilities

 

1,549,934

1,382,411

Creditors: Amounts falling due after more than one year

6

(980,868)

(986,709)

Provisions for liabilities

(104,776)

(38,275)

Net assets

 

464,290

357,427

Capital and reserves

 

Called up share capital

1,000

1,000

Revaluation reserve

363,133

281,172

Retained earnings

100,157

75,255

Shareholders' funds

 

464,290

357,427

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

 

Agility House Limited

(Registration number: 11925720)

Balance Sheet as at 30 September 2024 (continued)

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 25 June 2025 and signed on its behalf by:
 

.........................................

G Beech

Director

 

Agility House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

Accounting policies

Statutory information

Agility House Limited is a private company, limited by shares, domiciled in England and Wales, company number 11925720. The registered office is at Agility House, Rose Lane, Mansfield Woodhouse, Nottinghamshire, NG19 8BA.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover represents the income arising from property lettings. Revenue is recognised on a straight line basis over the lease term.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Agility House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

1

Accounting policies (continued)

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.
 

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

3

Investment properties

Fair value
£

Valuation

At 1 October 2023

1,591,538

Fair value adjustments

148,462

At 30 September 2024

1,740,000

The investment properties were revalued by the directors on 30 September 2024. The basis of this valuation was existing use basis. This class of assets has a historical cost of £1,272,092 (2023: £1,272,092).

 

Agility House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

4

Investments

2024
£

2023
£

Investments in subsidiaries

2

2

Subsidiaries

£

Cost

At 1 October 2023 and 30 September 2024

2

Carrying amount

At 30 September 2024

2

At 30 September 2023

2

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Agility Accommodation Limited

England

Ordinary

100%

100%

Agility Accommodation Limited

The principal activity of Agility Accommodation Limited is property related activities.

5

Debtors

2024
£

2023
£

Amounts owed by related undertakings

349,411

311,711

Prepayments

19,986

19,986

 

369,397

331,697

 

Agility House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

6

Creditors

2024
£

2023
£

Due within one year

Bank loans

5,851

5,064

Trade creditors

9,715

6,196

Amounts owed to related undertakings

334,098

332,598

Taxation and social security

3,748

2,517

Accruals

1,500

1,500

Directors loan account

210,253

197,280

565,165

545,155

2024
£

2023
£

Due after one year

Bank loans

980,868

986,709

The bank borrowings are secured on Agility House, Mansfield Woodhouse, Mansfield, NG19 8BA.

7

Related party transactions

During the year the directors had a loan account with the company. At the balance sheet date the amount due to the directors was £210,253 (2023: £197,280). The loan is interest free.