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Company Registration No. 12148767 (England and Wales)
Aviemore 109 Limited Unaudited accounts for the year ended 31 August 2023
Aviemore 109 Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Aviemore 109 Limited Company Information for the year ended 31 August 2023
Director
Jagjit Singh Johal
Company Number
12148767 (England and Wales)
Registered Office
The Whinnies, Church Road Hartley Longfield DA3 8DJ England
Accountants
Workabee Accountants Sharon Gillett BSc FCA 11 Chestnut Avenue Buckhurst Hill Essex IG9 6EN
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Aviemore 109 Limited Statement of financial position as at 31 August 2023
2023
2022
Notes
£
£
Fixed assets
Investment property
4
495,000
495,000
Current assets
Debtors
5
9,383
9,516
Cash at bank and in hand
8,944
6,751
18,327
16,267
Creditors: amounts falling due within one year
6
(144,700)
(144,541)
Net current liabilities
(126,373)
(128,274)
Total assets less current liabilities
368,627
366,726
Creditors: amounts falling due after more than one year
7
(294,539)
(294,299)
Provisions for liabilities
Deferred tax
8
(17,684)
(13,440)
Net assets
56,404
58,987
Capital and reserves
Called up share capital
1
1
Profit and loss account
56,403
58,986
Shareholders' funds
56,404
58,987
For the year ending 31 August 2023 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 October 2023 and were signed on its behalf by
Jagjit Singh Johal Director Company Registration No. 12148767
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Aviemore 109 Limited Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
Aviemore 109 Limited is a private company, limited by shares, registered in England and Wales, registration number 12148767. The registered office is The Whinnies, Church Road, Hartley, Longfield, DA3 8DJ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover comprises of rental income and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Financial instruments
Basic financial instruments are recognised at amortised cost.
4
Investment property
2023
£
Fair value at 1 September 2022
495,000
At 31 August 2023
495,000
Valuation of properties is based on director valuations.
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Aviemore 109 Limited Notes to the Accounts for the year ended 31 August 2023
5
Debtors
2023
2022
£
£
Amounts falling due within one year
Accrued income and prepayments
83
216
Other debtors
9,300
9,300
9,383
9,516
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,993
10,993
Taxes and social security
389
397
Other creditors
81,500
81,500
Loans from directors
51,608
51,471
Accruals
210
180
144,700
144,541
In the accounts for the year ended 31 August 2022, £80,000 was incorrectly included within 'Loans from directors' instead of 'Other creditors'. The amounts as at 31 August 2022 have been restated.
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
294,539
294,299
Aggregate of amounts that fall due for payment after five years
250,565
250,325
The bank loans (mortgage) are secured against the value of the investment property.
8
Deferred taxation
2023
2022
£
£
Revaluation of investment property
17,684
13,440
2023
2022
£
£
Provision at start of year
13,440
19,297
Charged/(credited) to the profit and loss account
4,244
(5,857)
Provision at end of year
17,684
13,440
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Aviemore 109 Limited Notes to the Accounts for the year ended 31 August 2023
9
Transactions with related parties
In the accounts for the year ended 31 August 2022, £80,000 was incorrectly included as being owed to directors rather than being owed to a related company, which shares the same director. As at 31 August 2023, amounts owed to directors totalled £51,608 (2022 restated: £51,471). As at 31 August 2023, amounts owed to related companies, which share the same director, totalled £80,000 (2022 restated: £80,000). No interest is charged on money owed and the amounts are repayable on demand.
10
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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