Company Registration No. 03165223 (England and Wales)
Agamayim Limited
Unaudited accounts
for the year ended 31 March 2020
Agamayim Limited
Unaudited accounts
Contents
Agamayim Limited
Company Information
for the year ended 31 March 2020
Directors
P Aldridge
J H Blass
A A Gratt
Cloud City Limited
Company Number
03165223 (England and Wales)
Registered Office
Unit 1, 35 Imperial Way
Croydon
CR0 4RR
Accountants
TaxSense Accountants Ltd
203 West Street
Fareham
Hants
PO16 0EN
Agamayim Limited
Accountants' report
Accountants' report to the board of directors of Agamayim Limited on the preparation of the unaudited statutory accounts for the year ended 31 March 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Agamayim Limited for the year ended
31 March 2020 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Agamayim Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Agamayim Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Agamayim Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Agamayim Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Agamayim Limited. You consider that Agamayim Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Agamayim Limited. 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 accounts.
TaxSense Accountants Ltd
203 West Street
Fareham
Hants
PO16 0EN
7 July 2020
Agamayim Limited
Statement of financial position
as at 31 March 2020
Cash at bank and in hand
39,470
40,024
Creditors: amounts falling due within one year
(73,907)
(228,294)
Net current assets
259,261
31,567
Total assets less current liabilities
259,261
361,588
Creditors: amounts falling due after more than one year
(1,217,578)
(1,419,736)
Net liabilities
(958,317)
(1,058,148)
Called up share capital
300,600
300,600
Share premium
476,567
476,567
Profit and loss account
(1,735,484)
(1,835,315)
Shareholders' funds
(958,317)
(1,058,148)
For the year ending 31 March 2020 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.
The financial statements were approved by the Board of Directors and authorised for issue on 7 July 2020 and were signed on its behalf by
P Aldridge
Director
Company Registration No. 03165223
Agamayim Limited
Notes to the Accounts
for the year ended 31 March 2020
Agamayim Limited is a private company, limited by shares, registered in England and Wales, registration number 03165223. The registered office is Unit 1, 35 Imperial Way, Croydon, CR0 4RR.
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.
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:
Fixtures & fittings
25% reducing balance
Computer equipment
33.33% Straight line method
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 consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2019
19,753
485,846
505,599
Disposals
(19,753)
(485,846)
(505,599)
At 1 April 2019
13,645
161,933
175,578
Charge for the year
763
80,966
81,729
On disposals
(14,408)
(242,899)
(257,307)
At 31 March 2019
6,108
323,913
330,021
Agamayim Limited
Notes to the Accounts
for the year ended 31 March 2020
Trade debtors
16,390
147,986
Accrued income and prepayments
-
51,476
Other debtors
277,308
20,375
6
Creditors: amounts falling due within one year
2020
2019
Obligations under finance leases and hire purchase contracts
-
30,000
Trade creditors
31,078
100,624
Taxes and social security
2,803
80,143
Loans from directors
38,736
11,537
7
Creditors: amounts falling due after more than one year
2020
2019
Obligations under finance leases and hire purchase contracts
-
20,000
Other creditors
1,217,578
1,399,736
Other Creditors includes loan from Shareholders & Directors of £1,217,578 (£1,399,735 in YE March 2019). See note 10 for further reference.
The company operates a defined contribution pension scheme. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £4,860 (£9,524 in YE March 2019).
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director Loan Account
51,000
(51,000)
-
-
Director Loan Account
(62,537)
(409)
(24,210)
(38,736)
(11,537)
(51,409)
(24,210)
(38,736)
Agamayim Limited
Notes to the Accounts
for the year ended 31 March 2020
10
Transactions with related parties
During the year the company made the following related party transactions:
Cloud City Ltd (Shareholder & Director);
At the balance sheet date the amount due to Cloud City Ltd was £1,217,578 (2019 - £1,399,735).
Paul Aldridge (Shareholder & Director);
At the balance sheet date the amount due to Paul Aldridge was £38,736 (2019 - £62,537).
11
Average number of employees
During the year the average number of employees was 11 (2019: 22).
