AGESCO LONDON LTD

2022-06-012023-05-312023-05-31false09042116AGESCO LONDON 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AGESCO LONDON LTD

Registered Number
09042116
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2023

AGESCO LONDON LTD

Company Information
for the year from 1 June 2022 to 31 May 2023


Directors	CANO, Mercedes
	CARMAN, Christopher Graham
	CARMAN, Kristina Melanie
	WIGGLESWORTH, Antony


Company Secretary	CARMAN, Christopher


Registered Address	57 Ripplevale Grove
	London
	N1 1HS


Registered Number	09042116 (England and Wales)

AGESCO LONDON LTD

Balance Sheet as at
31 May 2023

	Notes	2023		2022
		£	£	£	£
Fixed assets
Tangible assets	3		13,055		12,981
			13,055		12,981
Current assets
Debtors		28,785		48,887
Cash at bank and on hand		40,685		56,289
		69,470		105,176
Creditors amounts falling due within one year	4	(129,966)		(147,527)
Net current assets (liabilities)			(60,496)		(42,351)
Total assets less current liabilities			(47,441)		(29,370)
Creditors amounts falling due after one year			(20,752)		(31,182)
Net assets			(68,193)		(60,552)
Capital and reserves
Called up share capital			80		80
Profit and loss account			(68,273)		(60,632)
Shareholders' funds			(68,193)		(60,552)

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 27 February 2024, and are signed on its behalf by:

CARMAN, Christopher Graham
Director
Registered Company No. 09042116

AGESCO LONDON LTD

Notes to the Financial Statements
for the year ended 31 May 2023

1.	Accounting policies

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

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Fixtures and fittings	10
	Office Equipment	5

2.	Average number of employees


		2023		2022
	Average number of employees during the year	0		0

3.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 June 22	32,026
	Additions	4,893
	At 31 May 23	36,919
	Depreciation and impairment
	At 01 June 22	19,045
	Charge for year	4,819
	At 31 May 23	23,864
	Net book value
	At 31 May 23	13,055
	At 31 May 22	12,981

4.	Creditors: amounts due within one year

	2023	2022
	£	£
Trade creditors / trade payables	2,831	40,023
Bank borrowings and overdrafts	9,994	9,747
Taxation and social security	18,667	80,075
Other creditors	98,474	17,682
Total	129,966	147,527


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.