Company Registration No. 09912074 (England and Wales)
AGL Properties (Dorset) Limited
Unaudited accounts
for the year ended 31 March 2019
AGL Properties (Dorset) Limited
Unaudited accounts
Contents
AGL Properties (Dorset) Limited
Company Information
for the year ended 31 March 2019
Directors
Mark Law
Robert Law
Andrew Law
Company Number
09912074 (England and Wales)
Registered Office
342 Poole Road
Branksome
Poole
Dorset
BH12 1AW
Accountants
Peats
Chartered Accountants
Alum House, Discovery Court
551-553 Wallisdown Road
Poole
BH12 5AG
AGL Properties (Dorset) Limited
Statement of financial position
as at
31 March 2019
Tangible assets
3,572,220
3,568,544
Cash at bank and in hand
92,952
83,535
Creditors: amounts falling due within one year
(3,071,125)
(3,205,936)
Net current liabilities
(2,973,752)
(3,118,790)
Total assets less current liabilities
598,468
449,754
Provisions for liabilities
Deferred tax
(25,650)
(25,650)
Net assets
572,818
424,104
Called up share capital
3,000
3,000
Profit and loss account
569,818
421,104
Shareholders' funds
572,818
424,104
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 10 April 2019.
Mark Law
Director
Company Registration No. 09912074
AGL Properties (Dorset) Limited
Notes to the Accounts
for the year ended 31 March 2019
AGL Properties (Dorset) Limited is a private company, limited by shares, registered in England and Wales, registration number 09912074. The registered office is 342 Poole Road, Branksome, Poole, Dorset, BH12 1AW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the rents and management charges receivable, excluding discounts, rebates, value added tax and other sales taxes.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the corporation tax rate in force at the balance sheet date.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Computer equipment
25% reducing balance
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
AGL Properties (Dorset) Limited
Notes to the Accounts
for the year ended 31 March 2019
4
Tangible fixed assets
Land & buildings
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2018
3,559,695
11,918
3,738
3,575,351
Additions
3,379
3,123
222
6,724
At 31 March 2019
3,563,074
15,041
3,960
3,582,075
At 1 April 2018
-
5,175
1,632
6,807
Charge for the year
-
2,466
582
3,048
At 31 March 2019
-
7,641
2,214
9,855
At 31 March 2019
3,563,074
7,400
1,746
3,572,220
At 31 March 2018
3,559,695
6,743
2,106
3,568,544
Trade debtors
4,421
3,611
6
Creditors: amounts falling due within one year
2019
2018
Trade creditors
1,378
750
Taxes and social security
35,905
39,394
Loans from directors
3,021,000
3,156,000
Deferred income
11,342
8,292
The directors loans are secured by first legal mortgage on the property of the Company.
7
Deferred taxation
2019
2018
Revaluation of investment property
25,650
25,650
Provision at start of year
25,650
-
Charged to the profit and loss account
-
25,650
Provision at end of year
25,650
25,650
Deferred tax has been provided for at the corporation tax rate in force at the balance sheet date on revaluation surpluses.
AGL Properties (Dorset) Limited
Notes to the Accounts
for the year ended 31 March 2019
8
Average number of employees
During the year the average number of employees was 1 (2018: 1).