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Unaudited Financial Statements for the Year Ended 31 October 2021 |
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Angegyn Ltd |
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Unaudited Financial Statements for the Year Ended 31 October 2021 |
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Angegyn Ltd |
Angegyn Ltd (Registered number: 08598246) |
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Contents of the Financial Statements |
for the Year Ended 31 October 2021 |
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Company Information | 1 |
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Chartered Accountants' Report | 2 |
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Balance Sheet | 3 |
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Notes to the Financial Statements | 5 |
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Angegyn Ltd |
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Company Information |
for the Year Ended 31 October 2021 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Marlborough |
Hillcrest |
Helston |
Cornwall |
TR13 8UN |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Angegyn Ltd |
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The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Angegyn Ltd for the year ended 31 October 2021 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the director of Angegyn Ltd in accordance with the terms of our engagement letter dated 7 July 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Angegyn Ltd and state those matters that we have agreed to state to the director of Angegyn Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Angegyn Ltd and its director for our work or for this report. |
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It is your duty to ensure that Angegyn Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Angegyn Ltd. You consider that Angegyn Ltd is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Angegyn Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Marlborough |
Hillcrest |
Helston |
Cornwall |
TR13 8UN |
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Angegyn Ltd (Registered number: 08598246) |
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Balance Sheet |
31 October 2021 |
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31.10.21 | 31.10.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
Angegyn Ltd (Registered number: 08598246) |
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Balance Sheet - continued |
31 October 2021 |
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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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Angegyn Ltd (Registered number: 08598246) |
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Notes to the Financial Statements |
for the Year Ended 31 October 2021 |
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1. | STATUTORY INFORMATION |
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Angegyn Ltd is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | 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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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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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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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. |
Angegyn Ltd (Registered number: 08598246) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2021 |
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3. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
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COST |
At 1 November 2020 |
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Additions |
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Disposals | ( |
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At 31 October 2021 |
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DEPRECIATION |
At 1 November 2020 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 October 2021 |
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NET BOOK VALUE |
At 31 October 2021 |
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At 31 October 2020 |
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Angegyn Ltd (Registered number: 08598246) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2021 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 November 2020 |
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Additions |
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Disposals |
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At 31 October 2021 |
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DEPRECIATION |
At 1 November 2020 |
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Charge for year |
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Eliminated on disposal |
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At 31 October 2021 |
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NET BOOK VALUE |
At 31 October 2021 |
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At 31 October 2020 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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COST |
At 1 November 2020 |
and 31 October 2021 |
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DEPRECIATION |
At 1 November 2020 |
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Charge for year |
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At 31 October 2021 |
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NET BOOK VALUE |
At 31 October 2021 |
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At 31 October 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.21 | 31.10.20 |
£ | £ |
Trade debtors |
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Other debtors |
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Landed | 8,311 | - |
Directors' current accounts | 54,092 | 59,160 |
VAT |
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Prepayments |
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Angegyn Ltd (Registered number: 08598246) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2021 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.21 | 31.10.20 |
£ | £ |
Bank loans and overdrafts |
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Other loans |
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Hire purchase contracts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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Other creditors |
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Credit card | 3,880 | 1,410 |
Pension | 564 | - |
Dividends | 17,183 | 8,333 |
Accrued expenses |
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Deferred government grants |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.10.21 | 31.10.20 |
£ | £ |
Bank loans - 2-5 years |
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Bank loans more 5 yr by instal |
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Hire purchase contracts |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | - | 5,834 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.10.21 | 31.10.20 |
£ | £ |
Hire purchase contracts | 29,960 | 37,360 |
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The hire purchase liabilities are secured on the assets purchased under the hire purchase contacts. |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.10.21 | 31.10.20 |
value: | £ | £ |
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Ordinary | 1 | 600 | 600 |
Angegyn Ltd (Registered number: 08598246) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2021 |
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11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 October 2021 and 31 October 2020: |
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31.10.21 | 31.10.20 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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During the year the company paid for personal items and transferred money to the director. This has been partly repaid by the director's and his wife's dividends, paying for business items personally and cash introduced into the business. Interest is charged on the loan at the official rate. No amounts have been written off or waived during the year. The loan is repayable on demand. |
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12. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £44,250 (2020 - £38,332) were paid to the director . |
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Dividends to director include the dividends paid to his wife. |
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Minority shareholders: During the year two of minority shareholders waived their right to receive a royalty payment. |
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Company in which the director has a 29% shareholding: The company owes Angegyn Ltd £8,311 at the end of the year. The company has been provided with financial assistance. The loan is repayable on demand with no interest chargeable. |
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13. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Mr A F S Muller. |