Avens Estates Ltd |
Registered number: |
05145085 |
Balance Sheet |
as at 30 June 2023 |
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
1,414,649 |
|
|
1,414,649 |
|
Current assets |
Debtors |
4 |
|
342,348 |
|
|
332,945 |
Cash at bank and in hand |
|
|
83,160 |
|
|
105,675 |
|
|
|
425,508 |
|
|
438,620 |
|
Creditors: amounts falling due within one year |
5 |
|
(5,734) |
|
|
(12,858) |
|
Net current assets |
|
|
|
419,774 |
|
|
425,762 |
|
Total assets less current liabilities |
|
|
|
1,834,423 |
|
|
1,840,411 |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(984,678) |
|
|
(984,678) |
|
Provisions for liabilities |
|
|
|
(133,000) |
|
|
(133,000) |
|
|
Net assets |
|
|
|
716,745 |
|
|
722,733 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
716,645 |
|
|
722,633 |
|
Shareholders' funds |
|
|
|
716,745 |
|
|
722,733 |
|
|
|
|
|
|
|
|
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. |
|
|
|
|
Mr S Patel |
Director |
Approved by the board on 12 February 2024 |
|
Avens Estates Ltd |
Notes to the Accounts |
for the year ended 30 June 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 rents receivable. 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. |
|
|
Investment Properties |
|
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. The methods and significant assumptions used to acertain the fair value at the balance sheet date and fair value movement included in the profit for the year are as follows: |
|
Properties are valued using open market valuation on freehold basis, conducted by the directors with assistance from local estate agents. |
|
|
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 |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
£ |
|
Cost |
|
At 1 July 2022 |
1,414,649 |
|
At 30 June 2023 |
1,414,649 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 30 June 2023 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2023 |
1,414,649 |
|
At 30 June 2022 |
1,414,649 |
|
The investment property was revalued during the reporting period, by directors with the assistance of local estate agents and online tools based on market values being achieved on similar properties in the surrounding areas. |
|
|
4 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
341,532 |
|
332,129 |
|
Other debtors |
816 |
|
816 |
|
|
|
|
|
|
342,348 |
|
332,945 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Corporation tax |
- |
|
3,324 |
|
Other taxes and social security costs |
- |
|
1,470 |
|
Other creditors |
5,734 |
|
8,064 |
|
|
|
|
|
|
5,734 |
|
12,858 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loans |
984,678 |
|
984,678 |
|
|
|
|
|
|
|
|
|
|
7 |
Controlling party |
|
|
The company is a wholly owned subsidiary of Estate Construction Ltd, a company registered in England and Wales |
|
|
8 |
Other information |
|
|
Avens Estates Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
5 Salmon Street |
|
London |
|
NW9 8PP |