Registered number
03172852
AVONPARK PROPERTIES LIMITED
Unaudited Filleted Accounts
31 March 2023
Khan Adamson Limited
Chartered Accountant
Chelworth Industrial Estate
Cricklade
Swindon
Wiltshire
SN6 6HE
AVONPARK PROPERTIES LIMITED
Registered number: 03172852
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 6,413 8,016
Investments 4 1,716,380 1,469,902
1,722,793 1,477,918
Current assets
Debtors 5 - 493
Cash at bank and in hand 10,614 311,608
10,614 312,101
Creditors: amounts falling due within one year 6 (145,553) (190,742)
Net current (liabilities)/assets (134,939) 121,359
Total assets less current liabilities 1,587,854 1,599,277
Provisions for liabilities (122,383) (122,383)
Net assets 1,465,471 1,476,894
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,465,371 1,476,794
Shareholders' funds 1,465,471 1,476,894
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Richie Donnelly
Director
Approved by the board on 25 September 2023
AVONPARK PROPERTIES LIMITED
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 20% reducing balance
Investment property
Investment property is carried at fair value determined annually by the directors. No depreciation is provided. Changes in fair value are recognised in profit and loss.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 April 2022 12,525
At 31 March 2023 12,525
Depreciation
At 1 April 2022 4,509
Charge for the year 1,603
At 31 March 2023 6,112
Net book value
At 31 March 2023 6,413
At 31 March 2022 8,016
4 Investment property
Freehold
investment
property
£
Cost
At 1 April 2022 1,469,902
Additions 246,478
At 31 March 2023 1,716,380
Investment property - The 2023 valuations were made by the directors, on an open market value for existing use basis.
5 Debtors 2023 2022
£ £
Other debtors - 493
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 3,545 37,389
Directors' account 137,807 149,352
Other creditors 4,201 4,001
145,553 190,742
7 Other information
AVONPARK PROPERTIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Chelworth Industrial Estate
Cricklade
Swindon
Wiltshire
SN6 6HE
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