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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2019 |
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AG SQUARED LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2019 |
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FOR |
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AG SQUARED LIMITED |
AG SQUARED LIMITED (REGISTERED NUMBER: 05176798) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 July 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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AG SQUARED LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31 July 2019 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Unit A6 |
Chaucer Business Park |
Dittons Road |
Polegate |
East Sussex |
BN26 6QH |
AG SQUARED LIMITED (REGISTERED NUMBER: 05176798) |
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BALANCE SHEET |
31 July 2019 |
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31.7.19 | 31.7.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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The director acknowledges his 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. |
AG SQUARED LIMITED (REGISTERED NUMBER: 05176798) |
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BALANCE SHEET - continued |
31 July 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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AG SQUARED LIMITED (REGISTERED NUMBER: 05176798) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 July 2019 |
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1. | STATUTORY INFORMATION |
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AG Squared Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair |
value is recognised in profit or loss. |
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Investment properties are those properties that are held either to earn rental income or for capital appreciation or |
both. |
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Investment properties are measured initially at cost including transaction costs and thereafter are stated at fair value, |
which reflects market conditions at the balance sheet date. Surpluses and deficits arising from changes in the fair |
value of investment properties are recognised in the Statement of Comprehensive Income in the year in which they |
arise. |
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Investment properties are stated at fair value as determined by the directors. The fair value of the company's property |
portfolio is based upon external valuations and is inherently subjective. The fair value represents the amount at |
which the assets could be exchanged between a knowledgeable, willing buyer and a knowledgeable, willing seller in |
an arms-length transaction at the date of valuation. The fair value of each of the properties has been assessed by the |
directors. In determining the fair value of investment properties, the directors make use of historical and current |
market data as well as existing lease agreements. |
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Additions and disposals of investment properties are recognised in the accounts when contracts are completed. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained |
Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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AG SQUARED LIMITED (REGISTERED NUMBER: 05176798) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 July 2019 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2018 - NIL). |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 August 2018 |
and 31 July 2019 |
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DEPRECIATION |
At 1 August 2018 |
and 31 July 2019 |
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NET BOOK VALUE |
At 31 July 2019 |
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5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2018 |
and 31 July 2019 |
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NET BOOK VALUE |
At 31 July 2019 |
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At 31 July 2018 |
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AG SQUARED LIMITED (REGISTERED NUMBER: 05176798) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 July 2019 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.19 | 31.7.18 |
£ | £ |
Amounts owed by associates |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.19 | 31.7.18 |
£ | £ |
Bank loans and overdrafts |
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Amounts owed to associates |
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Taxation and social security |
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Other creditors |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.7.19 | 31.7.18 |
£ | £ |
Bank loans |
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Bank loans are secured by a fixed and floating charge over all assets and undertaking of the company. |