| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| FOR |
| AGATHA PROPERTY INVESTMENTS LTD |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| FOR |
| AGATHA PROPERTY INVESTMENTS LTD |
| AGATHA PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 12271494) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| Page |
| Statement of Financial Position | 1 |
| Notes to the Financial Statements | 3 |
| AGATHA PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 12271494) |
| STATEMENT OF FINANCIAL POSITION |
| 31 OCTOBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Fair value reserve | 11 |
| Retained earnings | ( |
) |
| 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. |
| AGATHA PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 12271494) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31 OCTOBER 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| AGATHA PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 12271494) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 1. | STATUTORY INFORMATION |
| Agatha Property Investments Ltd is a |
| Registered number: |
| Registered office: |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| In the application of the company's accounting policies, the director is 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 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 estimate 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 are significant judgements or estimates involved in the preparation of the financial statements. |
| Revenue |
| Revenue represents rent receivable in respect of the company's investment properties. Rental income is recognised over the period of the rental agreement. |
| Property, plant and equipments |
| Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intend. |
| The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. |
| Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
| Fixtures and fittings - 20% on reducing balance |
| The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal. |
| AGATHA PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 12271494) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Investment property |
| Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. |
| Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date. |
| Borrowing costs are capitalised as part of the cost of the qualifying assets which takes a substantial period of time to get ready for its intended use. |
| 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. |
| Deferred tax |
| Deferred tax is recognised in respect of all material 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. |
| Cash and cash equivalent |
| Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. |
| Financial instruments |
| 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 and loss. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| AGATHA PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 12271494) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Fixtures |
| and |
| fittings |
| £ |
| COST |
| At 1 November 2023 |
| Additions |
| At 31 October 2024 |
| DEPRECIATION |
| At 1 November 2023 |
| Charge for year |
| At 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 November 2023 |
| Additions |
| Revaluations | 384,871 |
| At 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| Fair value at 31 October 2024 is represented by: |
| £ |
| Valuation in 2023 | 90,000 |
| Valuation in 2024 | 384,871 |
| Cost | 8,363,440 |
| 8,838,311 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2024 | 2023 |
| £ | £ |
| Cost | 8,363,440 | 6,295,736 |
| Investment property was valued on an open market basis on 31 October 2024 by the directors of the company . |
| AGATHA PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 12271494) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non-inst |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank loans | 4,719,509 | 4,313,850 |
| Bank loan is secured by way of fixed and floating charge on the properties of the company and contains a negative pledge. |
| 10. | PROVISIONS FOR LIABILITIES |
| 2024 | 2023 |
| £ | £ |
| Deferred tax | 118,718 | 22,500 |
| Deferred |
| tax |
| £ |
| Balance at 1 November 2023 |
| Provided during year |
| Balance at 31 October 2024 |
| AGATHA PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 12271494) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| 11. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 November 2023 |
| Bonus share issue |
| Movement during the year | (96,218 | ) |
| At 31 October 2024 |
| 12. | RELATED PARTY DISCLOSURES |
| Also included in other creditors due within a year is an amount of £54,561 (2023: £87,944 due from) due to the directors of the company. Interest at the rate of 2.25% p.a.has been charged on the overdrawn balance. |