Company Registration No. 11116914 (England and Wales)
The Avenue Maidstone Limited
Unaudited accounts
for the year ended 31 December 2022
The Avenue Maidstone Limited
Unaudited accounts
Contents
The Avenue Maidstone Limited
Company Information
for the year ended 31 December 2022
Company Number
11116914 (England and Wales)
Registered Office
95A WEEK STREET
MAIDSTONE
KENT
ME14 1QX
UNITED KINGDOM
Accountants
Stoke Newington Accountants & Tax Consultants Ltd
4 Baird Road
Enfield
Middlesex
EN1 1SJ
The Avenue Maidstone Limited
Statement of financial position
as at 31 December 2022
Tangible assets
20,808
21,577
Cash at bank and in hand
140,390
107,762
Creditors: amounts falling due within one year
(192,328)
(155,737)
Net current assets
4,088
14,050
Total assets less current liabilities
24,896
35,627
Creditors: amounts falling due after more than one year
(23,900)
(34,548)
Called up share capital
100
100
Profit and loss account
896
979
Shareholders' funds
996
1,079
For the year ending 31 December 2022 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 8 March 2024 and were signed on its behalf by
Bulent Turgut
Director
Company Registration No. 11116914
The Avenue Maidstone Limited
Notes to the Accounts
for the year ended 31 December 2022
The Avenue Maidstone Limited is a private company, limited by shares, registered in England and Wales, registration number 11116914. The registered office is 95A WEEK STREET, MAIDSTONE, KENT, ME14 1QX, UNITED KINGDOM.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
Expenditure on research and development is written off in the year in which it is incurred.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The Avenue Maidstone Limited
Notes to the Accounts
for the year ended 31 December 2022
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 January 2022
16,450
7,317
23,767
At 31 December 2022
16,450
7,317
23,767
At 1 January 2022
-
2,190
2,190
Charge for the year
-
769
769
At 31 December 2022
-
2,959
2,959
At 31 December 2022
16,450
4,358
20,808
At 31 December 2021
16,450
5,127
21,577
Amounts falling due within one year
Other debtors
47,901
54,685
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Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
10,648
10,648
Trade creditors
2,396
6,750
Taxes and social security
51,044
46,883
The Avenue Maidstone Limited
Notes to the Accounts
for the year ended 31 December 2022
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Creditors: amounts falling due after more than one year
2022
2021
8
Transactions with related parties
At the balance sheet date, where the director has controlling interest, the director owed the company £34,488.
The company's ultimate controlling party is Bulent Turgut by virtue of his ownership of 100% of the issued share capital in the company.
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Average number of employees
During the year the average number of employees was 4 (2021: 4).