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REGISTERED NUMBER: 11659008 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

AGULHAS LTD

AGULHAS LTD (REGISTERED NUMBER: 11659008)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AGULHAS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTORS: Mr T J Willis
Ms F A Willis





REGISTERED OFFICE: Ground Floor Marlborough House
298 Regents Park Road
London
N3 2SZ





REGISTERED NUMBER: 11659008 (England and Wales)





ACCOUNTANTS: Fusion Accountancy Limited
Marlborough House
298 Regents Park Road
London
N3 2SZ

AGULHAS LTD (REGISTERED NUMBER: 11659008)

BALANCE SHEET
30 NOVEMBER 2024

30.11.24 30.11.23
Notes £    £   
CURRENT ASSETS
Debtors 4 72,256 57,857
Cash at bank 22,013 16,998
94,269 74,855
CREDITORS
Amounts falling due within one year 5 63,380 48,783
NET CURRENT ASSETS 30,889 26,072
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,889

26,072

CREDITORS
Amounts falling due after more than one
year

6

13,586

15,007
NET ASSETS 17,303 11,065

CAPITAL AND RESERVES
Called up share capital 7 10 10
Retained earnings 8 17,293 11,055
SHAREHOLDERS' FUNDS 17,303 11,065

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 Board of Directors and authorised for issue on 4 August 2025 and were signed on its behalf by:




Mr T J Willis - Director


AGULHAS LTD (REGISTERED NUMBER: 11659008)

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

1. STATUTORY INFORMATION

Agulhas Ltd 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 6,908 22,787
Other debtors 65,348 35,070
72,256 57,857

AGULHAS LTD (REGISTERED NUMBER: 11659008)

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

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts 447 6
Trade creditors 4,146 -
Corporation tax 1,581 2,593
Other creditors 42,887 25,177
Director's current account 12,519 19,957
Accruals and deferred income 1,800 1,050
63,380 48,783

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
£    £   
Bank loans 13,586 15,007

The bank loan is part of the BBL Scheme that was launched on 27 April 2020. The scheme is 100% government backed. The interest rate is 2.5% per year and the term of the loan is 10 years, and early repayment is possible without additional charges.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: £    £   
1,000 Ordinary shares 1p 10 10

8. RESERVES
Retained
earnings
£   

At 1 December 2023 11,055
Profit for the year 6,738
Dividends (500 )
At 30 November 2024 17,293

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £500 were paid to the directors .

AGULHAS LTD (REGISTERED NUMBER: 11659008)

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

9. RELATED PARTY DISCLOSURES - continued

Detail of loan from shareholders:
> Mr T J Willis: £37,181 (2023: £22,574)
> Timofee: £2,649 (2023: £2,493)

The loan recorded under "Loan from Shareholder - Timofee" is a joint loan from Mr T J Willis and Mr F A Willis.

At the balance sheet date, the director loan account included within creditors due within one year comprised £2,542 (2023: £19,957) owed to Mr T J Willis and £9,976 (2023: £Nil) owed to Mr F A Willis.

These loans are interest-free, has no fixed term, and is repayable on demand.

The controlling party is the company director by virtue of his shareholding.