2022 THE AVENUE LIMITED

Company Registration Number:
14237711 (England and Wales)

Unaudited abridged accounts for the year ended 31 July 2023

Period of accounts

Start date: 15 July 2022

End date: 31 July 2023

2022 THE AVENUE LIMITED

Contents of the Financial Statements

for the Period Ended 31 July 2023

Balance sheet
Notes

2022 THE AVENUE LIMITED

Balance sheet

As at 31 July 2023


Notes

13 months to 31 July 2023


£
Fixed assets
Tangible assets: 3 1,044,827
Total fixed assets: 1,044,827
Current assets
Debtors:   54,164
Cash at bank and in hand: 2,228
Total current assets: 56,392
Creditors: amounts falling due within one year:   (853,600)
Net current assets (liabilities): (797,208)
Total assets less current liabilities: 247,619
Creditors: amounts falling due after more than one year:   (281,323)
Total net assets (liabilities): (33,704)
Capital and reserves
Called up share capital: 100
Profit and loss account: (33,804)
Shareholders funds: (33,704)

The notes form part of these financial statements

2022 THE AVENUE LIMITED

Balance sheet statements

For the year ending 31 July 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 12 April 2024
and signed on behalf of the board by:

Name: MR J P R FEATHERSTONE
Status: Director

The notes form part of these financial statements

2022 THE AVENUE LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of the rent received or receivable from the letting of the investment property.

Valuation and information policy

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in the profit and loss account.

Other accounting policies

Financial instruments: The 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 in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Basic financial assets: Basic financial assets, which include 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 transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Derecognition of financial assets: Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. Basic financial liabilities: Basic financial liabilities are 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 a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities: Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2022 THE AVENUE LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2023

2. Employees

13 months to 31 July 2023
Average number of employees during the period 0

2022 THE AVENUE LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2023

3. Tangible Assets

Total
Cost £
Additions 1,044,827
At 31 July 2023 1,044,827
Net book value
At 31 July 2023 1,044,827

Investment property comprises of residential and commercial buildings. The fair value of the investment property has been determined by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

2022 THE AVENUE LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2023

4. Financial commitments

Included within current liabilities is a loan amounting to £851,500. The loan is secured by way of a fixed and floating charge over the assets of the company.

2022 THE AVENUE LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2023

5. Related party transactions

Name of the related party:
Relationship:
Directors
Description of the Transaction: At the balance sheet date, £281,324 was owed to the directors. The unsecured loan is provided free of any interest charge and without any repayment terms.
£
Balance at 31 July 2023 281,324