ACCOUNTS - Final Accounts preparation

AG KANGAROO WORKS HEADLEASECO LTD - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31truefalsetrue42021-01-014The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.99999 - Dormant Company 11692527 2021-01-01 2021-12-31 11692527 2021-12-31 11692527 2020-01-01 2020-12-31 11692527 2020-12-31 11692527 c:Director2 2021-01-01 2021-12-31 11692527 d:FreeholdInvestmentProperty 2021-01-01 2021-12-31 11692527 d:FreeholdInvestmentProperty 2021-12-31 11692527 d:FreeholdInvestmentProperty 2020-12-31 11692527 d:CurrentFinancialInstruments 2021-12-31 11692527 d:CurrentFinancialInstruments 2020-12-31 11692527 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 11692527 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 11692527 d:ShareCapital 2021-12-31 11692527 d:ShareCapital 2020-12-31 11692527 d:RetainedEarningsAccumulatedLosses 2021-12-31 11692527 d:RetainedEarningsAccumulatedLosses 2020-12-31 11692527 c:OrdinaryShareClass1 2021-01-01 2021-12-31 11692527 c:OrdinaryShareClass1 2021-12-31 11692527 c:OrdinaryShareClass1 2020-12-31 11692527 c:FRS102 2021-01-01 2021-12-31 11692527 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 11692527 c:FullAccounts 2021-01-01 2021-12-31 11692527 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 11692527 4 2021-01-01 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11692527

AG KANGAROO WORKS HEADLEASECO
LTD

UNAUDITED

PAGES FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

AG KANGAROO WORKS HEADLEASECO LTD

REGISTERED NUMBER: 11692527

BALANCE SHEET

AS AT 31 DECEMBER 2021

		2021		2020
Note		£		£

Fixed assets
Investment property	4		-		5,149,770
			-		5,149,770
Current assets
Debtors: amounts falling due within one year	5	747		216,404
Cash at bank and in hand	6	-		933,251
		747		1,149,655
Creditors: amounts falling due within one year	7	(6,290)		(6,434,733)
Net current liabilities			(5,543)		(5,285,078)
Total assets less current liabilities			(5,543)		(135,308)

Net liabilities			(5,543)		(135,308)

Capital and reserves
Called up share capital	8	1	1
Profit and loss account		(5,544)	(135,309)
		(5,543)	(135,308)

AG KANGAROO WORKS HEADLEASECO LTD

REGISTERED NUMBER: 11692527

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

J B Garcia

Director

Date: 26 September 2022

The notes on page 2 form part of these financial statements.

AG KANGAROO WORKS HEADLEASECO LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1.	General information

AG Kangaroo Works HeadleaseCo Ltd is a private limited company, registered in the United Kingdom and domiciled in England and Wales. The registered office address is 23 Savile Row, London, W1S 2ET.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.4

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

AG KANGAROO WORKS HEADLEASECO LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Employees

The average monthly number of employees, including the directors, during the year was as follows:

	2021	2020
	No.	No.

Number of employees	4	4

The Company has no employees other than the directors, who did not receive any remuneration.

4.	Investment property

		Freehold investment property
		£

	At 1 January 2021	5,149,770
	Disposals	(5,149,770)
	At 31 December 2021	-

The 2021 valuations were made by the directors, on an open market value for existing use basis.

AG KANGAROO WORKS HEADLEASECO LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Debtors

					2021	2020
					£	£


Other debtors	747	18,359
Prepayments and accrued income	-	198,045
	747	216,404

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AG KANGAROO WORKS HEADLEASECO LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

6.	Cash and cash equivalents
		2021	2020
		£	£

Cash at bank and in hand	-	933,251
	-	933,251

7.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Other loans	-	550,000
Trade creditors	-	1,133,429
Amounts owed to group undertakings	4,558	4,748,601
Accruals and deferred income	1,732	2,703
	6,290	6,434,733

8.	Share capital
		2021	2020
		£	£

Allotted, called up and fully paid

1 (2020 - 1) Ordinary share of £1.00	1	1

9.	Related party transactions
	As at the balance sheet date, an amount of £4,558 (2020: £324,987 due from) was due to AG Kangaroo Works Headlease Co BV. The loan is an non-interest bearing loan with no set repayment terms. As at the balance sheet date, an amount of £nil (2020: £5,802,746 due from) was due to AG Kangaroo Works Dev Co Ltd. The loan is an non-interest bearing loan with no set repayment terms.

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