Agewood Limited - Accounts to registrar

REGISTERED NUMBER: 02758176 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2016

for

Agewood Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms L A Scott

REGISTERED OFFICE:

7 Brenkley Way

Blezard Business Park

Seaton Burn

Tyne and Wear

NE13 6DS

REGISTERED NUMBER:

02758176 (England and Wales)

ACCOUNTANTS:

Douglas Shaw Limited

7 Brenkley Way

Blezard Business Park

Seaton Burn

Tyne and Wear

NE13 6DS

FIXED ASSETS

Tangible assets

3

8,092

14,317

Investments

4

174,583

Investment property

5

400,000

125,845

582,675

314,745

CURRENT ASSETS

Debtors

6

-

1,100

Cash at bank

63,058

57,082

63,058

58,182

CREDITORS

Amounts falling due within one year

7

5,912

4,166

NET CURRENT ASSETS

57,146

54,016

TOTAL ASSETS LESS CURRENT
LIABILITIES

639,821

368,761

PROVISIONS FOR LIABILITIES

632

NET ASSETS

639,189

368,129

CAPITAL AND RESERVES

Called up share capital

300,000

Retained earnings

339,189

68,129

639,189

368,129

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 27 September 2017 and were signed
by:

Ms L A Scott - Director

1.	STATUTORY INFORMATION

Agewood Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 taxes.

Tangible fixed assets

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

Fixtures and fittings

-

15% on cost

Office equipment

-

25% on 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.

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 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.	TANGIBLE FIXED ASSETS

Fixtures

and

Office

fittings

equipment

Totals

£

COST

At 1 January 2016

and 31 December 2016

41,500

1,742

43,242

DEPRECIATION

At 1 January 2016

27,184

1,741

28,925

Charge for year

6,225

-

6,225

At 31 December 2016

33,409

1,741

35,150

NET BOOK VALUE

At 31 December 2016

8,091

1

8,092

At 31 December 2015

14,316

1

14,317

4.	FIXED ASSET INVESTMENTS

Loans to

group

undertakings

£

At 1 January 2016

and 31 December 2016

174,583

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2016

196,634

Revaluations

203,366

At 31 December 2016

400,000

DEPRECIATION

At 1 January 2016

70,789

Revaluation adjustments

(70,789

)

At 31 December 2016

-

NET BOOK VALUE

At 31 December 2016

400,000

At 31 December 2015

125,845

Cost or valuation at 31 December 2016 is represented by:

£

Valuation in 2016

400,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

Other debtors

-

1,100

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

Tax

280

-

Social security and other taxes

80

-

Other creditors and accruals

2,959

1,909

Directors' loan accounts

2,593

2,257

5,912

4,166

Agewood Limited - Accounts to registrar - small 17.1

Agewood Limited - Accounts to registrar - small 17.1