Agape Properties Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08446824 (England and Wales)

Unaudited Financial Statements

For The Year Ended 5 April 2021

for

Agape Properties Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTOR:

Mr F Perticarari

REGISTERED OFFICE:

27 Old Gloucester Street

London

WC1N 3AX

REGISTERED NUMBER:

08446824 (England and Wales)

ACCOUNTANTS:

Danbro Accounting Ltd

Jubilee House

East Beach

Lytham St.annes

Lancashire

FY8 5FT

FIXED ASSETS

Tangible assets

4

1,644

3,459

Investment property

5

1,220,755

1,220,755

1,222,399

1,224,214

CURRENT ASSETS

Debtors

6

36,199

15,827

Cash at bank

8,987

1,206

45,186

17,033

CREDITORS

Amounts falling due within one year

7

212,479

249,261

NET CURRENT LIABILITIES

(167,293

)

(232,228

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,055,106

991,986

CREDITORS

Amounts falling due after more than one year

8

(1,052,816

)

(1,002,816

)

PROVISIONS FOR LIABILITIES

(11,813

)

(10,026

)

NET LIABILITIES

(9,523

)

(20,856

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Revaluation reserve

9

60,531

60,531

Retained earnings

(71,054

)

(82,387

)

(9,523

)

(20,856

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 December 2021 and were signed by:

Mr F Perticarari - Director

1.	STATUTORY INFORMATION

Agape Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales sales.

Turnover represents amounts receivable by the company in respect of rent receivable during the period. Turnover is exempt from value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

Investment property, which is property held to earn rentals and/or capital appreciation, is initially recognised at cost, which includes purchase cost and directly attributable expenditure. Subsequently it is measure at fair value at the reporting end dat. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments; and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

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 NIL (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 6 April 2020

and 5 April 2021

8,733

DEPRECIATION

At 6 April 2020

5,274

Charge for year

1,815

At 5 April 2021

7,089

NET BOOK VALUE

At 5 April 2021

1,644

At 5 April 2020

3,459

Tangible Fixed Assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 6 April 2020

and 5 April 2021

1,220,755

NET BOOK VALUE

At 5 April 2021

1,220,755

At 5 April 2020

1,220,755

Fair value at 5 April 2021 is represented by:

£

Valuation in 2017

6,894

Valuation in 2018

51,664

Valuation in 2019

10,000

Valuation in 2020

1,152,197

1,220,755

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

-

3,726

Other debtors

36,199

12,101

36,199

15,827

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Amounts owed to group undertakings

-

5,023

Other creditors

212,479

244,238

212,479

249,261

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

426,500

376,500

Other creditors

626,316

626,316

1,052,816

1,002,816

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

376,500

376,500

Other loans more 5yrs non-inst

626,316

626,316

1,002,816

1,002,816

Repayable by instalments

Bank loans more 5 yr by instal

50,000

-

9.

RESERVES

Revaluation

reserve

£

At 6 April 2020

and 5 April 2021

60,531

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Agape Properties Ltd for the year ended 5 April 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.

This report is made solely to the director of Agape Properties Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Agape Properties Ltd and state those matters that we have agreed to state to the director of Agape Properties Ltd in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Agape Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Agape Properties Ltd. You consider that Agape Properties Ltd 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 financial statements of Agape Properties Ltd. 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 financial statements.

Danbro Accounting Ltd

Jubilee House

East Beach

Lytham St.annes

Lancashire

FY8 5FT

Date: .............................................