Company registration number 13002431 (England and Wales)
AVAN PROPERTY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2021
PAGES FOR FILING WITH REGISTRAR
AVAN PROPERTY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
AVAN PROPERTY LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2021
30 November 2021
- 1 -
2021
Notes
£
£
Fixed assets
Investment properties
3
516,443
Current assets
Cash at bank and in hand
1,360
Creditors: amounts falling due within one year
4
(519,302)
Net current liabilities
(517,942)
Net liabilities
(1,499)
Capital and reserves
Called up share capital
1
Profit and loss reserves
(1,500)
Total equity
(1,499)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 22 August 2022 and are signed on its behalf by:
Mr S Yang
Mrs Y Tian
Director
Director
Company Registration No. 13002431
AVAN PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2021
- 2 -
1
Accounting policies
Company information
AVAN Property Limited is a private company limited by shares incorporated in England and Wales. The registered office is 22 Friars Street, Suffolk, Sudbury, CO10 2AA.
1.1
Reporting period
[ FRS 102 3.10 An entity shall present a complete set of financial statements (including comparative information as set out in paragraph 3.14) at least annually. When the end of an entity’s reporting period changes and the annual financial statements are presented for a period longer or shorter than one year, the entity shall disclose the following: (a) that fact; (b) the reason for using a longer or shorter period; and (c) the fact that comparative amounts presented in the financial statements (including the related notes) are not entirely comparable. ]
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.3
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.5
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
AVAN PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2021
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2021
Number
Total
2
3
Investment property
2021
£
Fair value
At 6 November 2020
Additions
516,443
At 30 November 2021
516,443
Investment property comprises Hillview House, Luddington Road, Stratford-upon-Avon. The property was acquired during the period and is included at its purchase cost. There was no requirement to revalue the property nor undertake a professional valuation.
4
Creditors: amounts falling due within one year
2021
£
Other creditors
519,302
The loan within other creditors is secured against the investment property.