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REGISTERED NUMBER: 05557901 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Avenuepoint Limited

Avenuepoint Limited (Registered number: 05557901)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Avenuepoint Limited

Company Information
for the Year Ended 28 February 2023







DIRECTOR: S E Nudd





REGISTERED OFFICE: 3 - 5 College Street
Nottingham
NG1 5AQ





REGISTERED NUMBER: 05557901 (England and Wales)

Avenuepoint Limited (Registered number: 05557901)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,428 1,221
Investment property 5 9,342,674 9,342,674
9,367,102 9,343,895

CURRENT ASSETS
Debtors 6 880 310,717
Cash at bank and in hand 56,499 184,162
57,379 494,879
CREDITORS
Amounts falling due within one year 7 1,415,223 1,457,016
NET CURRENT LIABILITIES (1,357,844 ) (962,137 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,009,258

8,381,758

CREDITORS
Amounts falling due after more than one
year

8

6,400,000

6,400,000
NET ASSETS 1,609,258 1,981,758

CAPITAL AND RESERVES
Called up share capital 10 4 4
Retained earnings 1,609,254 1,981,754
SHAREHOLDERS' FUNDS 1,609,258 1,981,758

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

Avenuepoint Limited (Registered number: 05557901)

Balance Sheet - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 November 2023 and were signed by:





S E Nudd - Director


Avenuepoint Limited (Registered number: 05557901)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Avenuepoint 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents rent due in the year, excluding value added tax.

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 - 25% on reducing balance
Computer equipment - 25% on cost

Investment property
Investment properties are included in the balance sheet at fair value. Gains are recognised in the income statement. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Avenuepoint Limited (Registered number: 05557901)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2022 3,677 5,039 8,716
Additions 30,054 - 30,054
At 28 February 2023 33,731 5,039 38,770
DEPRECIATION
At 1 March 2022 3,349 4,146 7,495
Charge for year 6,281 566 6,847
At 28 February 2023 9,630 4,712 14,342
NET BOOK VALUE
At 28 February 2023 24,101 327 24,428
At 28 February 2022 328 893 1,221

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 9,342,674
NET BOOK VALUE
At 28 February 2023 9,342,674
At 28 February 2022 9,342,674

The investment properties are valued at fair value by the director.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 6,000
VAT - 4,252
Prepayments and accrued income 880 300,465
880 310,717

Avenuepoint Limited (Registered number: 05557901)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 37,336 90,525
Taxation and social security 23,684 2,000
Other creditors 1,354,203 1,364,491
1,415,223 1,457,016

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 1,200,000 1,200,000
Other creditors 5,200,000 5,200,000
6,400,000 6,400,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans due in more than
five years not by instalments 5,200,000 5,200,000
5,200,000 5,200,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,200,000 1,200,000
Other loans 3,700,000 3,700,000
4,900,000 4,900,000

The bank and other loans are secured by a fixed and floating charge over the assets and investment property of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 A Shares £1 1 1
3 B Shares £1 3 3
4 4

Avenuepoint Limited (Registered number: 05557901)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

11. RELATED PARTY DISCLOSURES

Included in other creditors in the current and preceding year are loans of £500,000 each in respect of B Mehigan, D Mehigan and J Lago, the beneficial owners of the 'B' shares.

12. ULTIMATE CONTROLLING PARTY

The controlling party is S E Nudd.