Agile Applications Group Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 09383897 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

AGILE APPLICATIONS GROUP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J P Clarke

T Darbyshire

S R Ferry

REGISTERED OFFICE:

Queens Court

Wilmslow Road

Alderley Edge

Cheshire

SK9 7QD

REGISTERED NUMBER:

09383897 (England and Wales)

AUDITORS:

Christian Douglass Accountants Limited

Chartered Accountants

Statutory Auditor

2 Jordan Street

Knott Mill

Manchester

M15 4PY

FIXED ASSETS

Investments

4

866,901

CURRENT ASSETS

Debtors

5

98,542

1,000

CREDITORS

Amounts falling due within one year

6

483,329

558,329

NET CURRENT LIABILITIES

(384,787

)

(557,329

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

482,114

309,572

CAPITAL AND RESERVES

Called up share capital

25,838

24,038

Share premium

492,895

322,153

Capital redemption reserve

278

Retained earnings

(36,897

)

(36,897

)

482,114

309,572

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 30 June 2025 and were signed on its behalf by:

T Darbyshire - Director

1.	STATUTORY INFORMATION

Agile Applications Group Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 09383897 and its registered address is Queens Court, Wilmslow Road, Alderley Edge, Cheshire, SK9 7QD.

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.

At the balance sheet date the company had net current liabilities of £384,787 (2023: £567,329). The company is non-trading and the directors are satisfied that, with the ongoing financial support of the other group companies, the going concern basis of accounting is appropriate.

The comparatives have been adjusted to correct a fundamental error in the previous period whereby loan repayments had been recorded as expenditure. The effect was to reduce debtors by £16,500, reduce expenditure by £50,000 with an overall increase to reserves of £33,500.

Preparation of consolidated financial statements

The financial statements contain information about Agile Applications Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

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 NIL (2023 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

866,901

NET BOOK VALUE

At 31 December 2024

866,901

At 31 December 2023

866,901

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

as restated

£

Amounts owed by group undertakings

97,542

-

Other debtors

1,000

98,542

1,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

as restated

£

Amounts owed to group undertakings

478,680

Other creditors

4,649

79,649

483,329

558,329

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mrs Deborah Burton F.C.A. (Senior Statutory Auditor)

for and on behalf of Christian Douglass Accountants Limited

8.	CONTINGENT LIABILITIES

Since 12 July 2024, the company has been party to cross guarantees in favour of ultimate parent, IEG Group Limited's, bankers and other group financiers. The cross guarantees are supported by debentures. The debt so guaranteed at the balance sheet date was £10,461,160.

9.	ULTIMATE PARENT UNDERTAKING

Since 12 July 2024, the company's parent undertaking is IEG Group Limited, registered at the same address and exempt from the requirement to prepare group accounts.