| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| FOR |
| AGULHAS LTD |
| REGISTERED NUMBER: |
| 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: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 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 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
6 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings | 8 |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors and authorised for issue on |
| AGULHAS LTD (REGISTERED NUMBER: 11659008) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Agulhas Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.11.24 | 30.11.23 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 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 |
| Trade creditors |
| Corporation tax |
| Other creditors |
| Director's current account | 12,519 | 19,957 |
| Accruals and deferred income |
| 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: | £ | £ |
| Ordinary shares | 1p | 10 | 10 |
| 8. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 December 2023 |
| Profit for the year |
| Dividends | ( |
) |
| At 30 November 2024 |
| 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. |