Registration number:
Agulhas Gear Holdings Limited
for the Period from 19 November 2021 to 31 December 2022
Pages for Filing with Registrar
Agulhas Gear Holdings Limited
(Registration number: 13754791)
Balance Sheet as at 31 December 2022
Note |
2022 |
|
Fixed assets |
||
Investments |
|
|
Current assets |
||
Debtors |
|
|
Cash at bank and in hand |
|
|
|
||
Creditors: Amounts falling due within one year |
( |
|
Net current liabilities |
( |
|
Net liabilities |
( |
|
Capital and reserves |
||
Called up share capital |
100 |
|
Retained earnings |
(9,128) |
|
Shareholders' deficit |
(9,028) |
For the financial period ending 31 December 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Agulhas Gear Holdings Limited
(Registration number: 13754791)
Balance Sheet as at 31 December 2022
Approved and authorised by the
......................................... |
Agulhas Gear Holdings Limited
Notes to the Unaudited Financial Statements for the Period from 19 November 2021 to 31 December 2022
General information |
The Company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
Principal activity
The principal activity of the Company is that of a holding company.
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Agulhas Gear Holdings Limited
Notes to the Unaudited Financial Statements for the Period from 19 November 2021 to 31 December 2022
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Financial instruments
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.
Agulhas Gear Holdings Limited
Notes to the Unaudited Financial Statements for the Period from 19 November 2021 to 31 December 2022
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Significant judgements and estimation uncertainty |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.
Staff numbers |
The average number of persons employed by the Company (including directors) during the period, was
Agulhas Gear Holdings Limited
Notes to the Unaudited Financial Statements for the Period from 19 November 2021 to 31 December 2022
Investments |
2022 |
|
Investments in subsidiaries |
|
Subsidiaries |
£ |
Cost or valuation |
|
Additions |
|
Provision |
|
Carrying amount |
|
At 31 December 2022 |
|
Debtors |
Note |
2022 |
|
Amounts owed by group undertakings and undertakings in which the Company has a participating interest |
|
|
Other debtors |
|
|
|
Agulhas Gear Holdings Limited
Notes to the Unaudited Financial Statements for the Period from 19 November 2021 to 31 December 2022
Creditors |
Creditors: amounts falling due within one year
Note |
2022 |
|
Due within one year |
||
Trade creditors |
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
|
Other creditors |
|
|
|
||
Total trade and other creditors |
1,022,046 |
Share capital |
Allotted, called up and fully paid shares
2022 |
||
No. |
£ |
|
|
|
100 |
Dividends |
There were no dividends paid or proposed in either the current year or the previous year.