AVENUES MANAGEMENT SERVICES LIMITED

Company Registration Number:
13890680 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2023

Period of accounts

Start date: 3 February 2022

End date: 31 March 2023

AVENUES MANAGEMENT SERVICES LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

AVENUES MANAGEMENT SERVICES LIMITED

Directors' report period ended 31 March 2023

The directors present their report with the financial statements of the company for the period ended 31 March 2023

Principal activities of the company

The principal activity of the company during the period was the provision of care and support services for people with learning difficulties.



Directors

The director shown below has held office during the period of
3 February 2023 to 31 March 2023

Terence Andrew Rich


The directors shown below have held office during the whole of the period from
3 February 2022 to 31 March 2023

Richard Hodgson
Nicola Ford
Alistair Oag


Secretary Lauren Osman

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
17 October 2023

And signed on behalf of the board by:
Name: Terence Andrew Rich
Status: Director

AVENUES MANAGEMENT SERVICES LIMITED

Profit And Loss Account

for the Period Ended 31 March 2023

14 months to 31 March 2023


£
Turnover: 2,119,000
Cost of sales: ( 2,077,000 )
Gross profit(or loss): 42,000
Distribution costs: 0
Administrative expenses: ( 22,000 )
Other operating income: 0
Operating profit(or loss): 20,000
Interest receivable and similar income: 0
Profit(or loss) before tax: 20,000
Tax: 0
Profit(or loss) for the financial year: 20,000

AVENUES MANAGEMENT SERVICES LIMITED

Balance sheet

As at 31 March 2023

Notes 14 months to 31 March 2023


£
Called up share capital not paid: 0
Fixed assets
Intangible assets:   0
Tangible assets:   0
Investments:   0
Total fixed assets: 0
Current assets
Stocks:   0
Debtors: 3 1,335,000
Cash at bank and in hand: 0
Investments:   0
Total current assets: 1,335,000
Prepayments and accrued income: 0
Creditors: amounts falling due within one year: 4 ( 1,334,999 )
Net current assets (liabilities): 1
Total assets less current liabilities: 1
Creditors: amounts falling due after more than one year:   0
Provision for liabilities: 0
Accruals and deferred income: 0
Total net assets (liabilities): 1
Capital and reserves
Called up share capital: 1
Share premium account: 0
Other reserves: 0
Profit and loss account: 0
Total Shareholders' funds: 1

The notes form part of these financial statements

AVENUES MANAGEMENT SERVICES LIMITED

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 17 October 2023
and signed on behalf of the board by:

Name: Terence Andrew Rich
Status: Director

The notes form part of these financial statements

AVENUES MANAGEMENT SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

    Turnover policy

    Turnover is recognised at the fair value of the consideration received or receivable for sale of goods and services to external customers in the ordinary nature of the business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. Turnover is shown net of Value Added Tax.

    Other accounting policies

    1. Accounting policiesa)General informationAvenues Management Services Limited (“the Company”) is a private company limited by shares, which is registered, domiciled, and incorporated in England. The address of the company’s registered office and principal place of business is River House, 1 Maidstone Road, Sidcup, Kent, DA14 5TA, and operations are detailed in the Directors’ Report.b)Basis of accountingThese financial statements have been prepared in accordance with FRS102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS102”) 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 FRS102 have been applied other than where additional disclosure is required to show a true and fair view.The company has presented its financial statements for the period ended 31 March 2023. The financial statements are presented in sterling which is also the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest whole £1, except where otherwise indicated.c)TurnoverTurnover is recognised at the fair value of the consideration received or receivable for sale of goods and services to external customers in the ordinary nature of the business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. Turnover is shown net of Value Added Tax.d)Preparation of accounts on a going concern basisAt the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, 12 months from the signing of the financial statements. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements. The company is a subsidiary of Avenues Group, and the company has the financial support of its parent if required, which has been confirmed in writing.e)Reporting periodThese are the company's first financial statements and are presented for a period longer than one year. The company was incorporated on 3 February and has a period end of 31 March 2023.f)TaxationThe tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable.Current tax is based on taxable profit for the period. Taxable profit differs from total comprehensive income because it excludes items of income or expense that are taxable or deductible in other periods. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting date.Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled based on tax rates that have been enacted or substantively enacted by the reporting date. Deferred tax is not discounted.Deferred tax liabilities are recognised in respect of all timing differences that exist at the reporting date. Timing differences are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in different periods from their recognition in the financial statements. Deferred tax assets are recognised only to the extent that it is probable that they will be recovered by the reversal of deferred tax liabilities or other future taxable profits.Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on a net basis or to realise the asset and settle the liability simultaneously.g)Foreign exchangeTransactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date. All differences are taken to profit or Profit/(Loss).h)LeasesRentals under operating leases are charged on a straight line basis over the lease term.i)Financial InstrumentsThe company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.i) Basic financial assetsBasic financial assets, which include trade and other debtors, and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.ii) Classification of financial liabilitiesFinancial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.iii) Basic financial liabilitiesBasic financial liabilities, including trade and other creditors and amounts owed to group undertakingsare initially recognised at transaction price unless the arrangement constitutes a financing transaction,where the debt instrument is measured at the present value of the future payments discounted at amarket rate of interest.Debt instruments are subsequently carried at amortised cost, using the effective interest ratemethod.iv) Equity instrumentsEquity instruments issued by the company are recorded at the fair value of proceeds received, net oftransaction costs. Dividends payable on equity instruments are recognised as liabilities once they areno longer at the discretion of the company.

AVENUES MANAGEMENT SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees

    14 months to 31 March 2023
    Average number of employees during the period 0

AVENUES MANAGEMENT SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Debtors

14 months to 31 March 2023
£
Trade debtors 102,000
Prepayments and accrued income 0
Other debtors 1,233,000
Total 1,335,000
Debtors due after more than one year: 0

AVENUES MANAGEMENT SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Creditors: amounts falling due within one year note

14 months to 31 March 2023
£
Bank loans and overdrafts 0
Amounts due under finance leases and hire purchase contracts 0
Trade creditors 0
Taxation and social security 220,000
Accruals and deferred income 6,000
Other creditors 1,108,999
Total 1,334,999