AGW Holdings Limited - Accounts to registrar (filleted) - small 18.2
AGW Holdings Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 December 2020 |
| for |
| AGW Holdings Limited |
| AGW Holdings Limited (Registered number: 04512302) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| AGW Holdings Limited |
| Company Information |
| for the Year Ended 31 December 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| INDEPENDENT AUDITORS: |
| Statutory Auditor |
| 68 Queen Street |
| Sheffield |
| South Yorkshire |
| S1 1WR |
| BANKERS: |
| First Floor |
| Spire Walk |
| Chesterfield |
| South Yorkshire |
| S40 2WG |
| SOLICITORS: |
| No 1 Velocity |
| 2 Tenter Street |
| Sheffield |
| South Yorkshire |
| S1 4BY |
| AGW Holdings Limited (Registered number: 04512302) |
| Balance Sheet |
| 31 December 2020 |
| 31/12/20 | 31/12/19 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Investments | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| AGW Holdings Limited (Registered number: 04512302) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2020 |
| 1. | STATUTORY INFORMATION |
| AGW Holdings Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The financial statements have been prepared on a going concern basis. |
| The directors have considered the continuing impact of the Covid-19 pandemic which is an unprecedented situation and while there was initially a reduction in the activity of the subsidiary undertaking associated with Covid- 19, it has not impacted on the company. |
| In light of the above, and with the significant liquid resources held by the company and its subsidiary undertaking, the directors consider the company continues to be a going concern. |
| Preparation of consolidated financial statements |
| The financial statements contain information about AGW Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| AGW Holdings Limited (Registered number: 04512302) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Current asset investments that are not long term cash deposits and included in portfolios are valued by the investment managers as follows:- |
| Quoted securities are mid -market closing prices provided by the London Stock Exchange. |
| Unit Trusts and Collective investments show mid market prices at the last valuation point. |
| Prices for unquoted and illiquid securities have been obtained from sources believed to be independent. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| 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. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| AGW Holdings Limited (Registered number: 04512302) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2020 |
| 4. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 January 2020 |
| and 31 December 2020 |
| NET BOOK VALUE |
| At 31 December 2020 |
| At 31 December 2019 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2020 |
| and 31 December 2020 |
| NET BOOK VALUE |
| At 31 December 2020 |
| At 31 December 2019 |
| Following the completion of the new extension the company's investment property was revalued on an open market basis on the 1 April 2019 by J S Graham FRICS of SMC Chartered Surveyors, 54 Campo Lane, Sheffield S1 2EG as follows:- |
| Freehold land and buildings £1,370,000 |
| Adjacent vacant land £110,000 |
| The Director's do not consider that there has been any material change in this valuation. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/12/20 | 31/12/19 |
| £ | £ |
| Amounts owed by group undertakings |
| Prepayments |
| 7. | CURRENT ASSET INVESTMENTS |
| 31/12/20 | 31/12/19 |
| £ | £ |
| Unlisted investments | 992,315 | 974,012 |
| AGW Holdings Limited (Registered number: 04512302) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2020 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/12/20 | 31/12/19 |
| £ | £ |
| Amounts owed to group undertakings |
| Tax |
| Accrued expenses |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |