1 September 2022 false No description of principal activity Taxfiler 2024.1 11583245business:PrivateLimitedCompanyLtd2022-09-012023-08-31 115832452022-08-31 115832452022-09-012023-08-31 11583245business:AuditExemptWithAccountantsReport2022-09-012023-08-31 11583245business:FilletedAccounts2022-09-012023-08-31 115832452023-08-31 11583245business:Director12022-09-012023-08-31 11583245business:RegisteredOffice2022-09-012023-08-31 115832452022-08-31 11583245core:WithinOneYear2023-08-31 11583245core:WithinOneYear2022-08-31 11583245core:AfterOneYear2023-08-31 11583245core:AfterOneYear2022-08-31 11583245core:ShareCapitalcore:PreviouslyStatedAmount2023-08-31 11583245core:ShareCapitalcore:PreviouslyStatedAmount2022-08-31 11583245core:RevaluationReservecore:PreviouslyStatedAmount2023-08-31 11583245core:RevaluationReservecore:PreviouslyStatedAmount2022-08-31 11583245core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-08-31 11583245core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-08-31 11583245core:PreviouslyStatedAmount2023-08-31 11583245core:PreviouslyStatedAmount2022-08-31 11583245business:SmallEntities2022-09-012023-08-31 11583245countries:EnglandWales2022-09-012023-08-31 11583245core:FurnitureFittings2022-09-012023-08-31 11583245core:FurnitureFittings2022-08-31 11583245core:FurnitureFittings2023-08-31 11583245core:MoreThanFiveYears2023-08-31 11583245core:MoreThanFiveYears2022-08-31 115832452021-09-012022-08-31 iso4217:GBP xbrli:pure
Company Registration No. 11583245 (England and Wales)
Avance Property Limited Unaudited accounts for the year ended 31 August 2023
Avance Property Limited Unaudited accounts Contents
Page
- 2 -
Avance Property Limited Company Information for the year ended 31 August 2023
Director
Scott Whitbread
Company Number
11583245 (England and Wales)
Registered Office
First Floor 85 Great Portland Street London W1W 7LT England
Accountants
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT
- 3 -
Avance Property Limited Accountants' report
Accountants' report to the director of Avance Property Limited on the preparation of the unaudited statutory accounts for the year ended 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Avance Property Limited for the year ended 31 August 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Avance Property Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Avance Property Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Avance Property Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Avance Property Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Avance Property Limited. You consider that Avance Property Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Avance Property Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT 25 January 2024
- 4 -
Avance Property Limited Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,665 
4,284 
Investment property
362,335 
323,216 
365,000 
327,500 
Current assets
Cash at bank and in hand
3,086 
3,720 
Creditors: amounts falling due within one year
(100,803)
(114,799)
Net current liabilities
(97,717)
(111,079)
Total assets less current liabilities
267,283 
216,421 
Creditors: amounts falling due after more than one year
(205,386)
(210,329)
Net assets
61,897 
6,092 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
66,299 
27,180 
Profit and loss account
(4,502)
(21,188)
Shareholders' funds
61,897 
6,092 
For the year ending 31 August 2023 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 4 April 2024 and were signed on its behalf by
Scott Whitbread Director Company Registration No. 11583245
- 5 -
Avance Property Limited Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
Avance Property Limited is a private company, limited by shares, registered in England and Wales, registration number 11583245. The registered office is First Floor, 85 Great Portland Street, London, W1W 7LT, England.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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:
Fixtures & fittings
Between 20% and 33% on cost
- 6 -
Avance Property Limited Notes to the Accounts for the year ended 31 August 2023
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 September 2022
8,153 
At 31 August 2023
8,153 
Depreciation
At 1 September 2022
3,869 
Charge for the year
1,619 
At 31 August 2023
5,488 
Net book value
At 31 August 2023
2,665 
At 31 August 2022
4,284 
5
Investment property
2023 
£ 
Fair value at 1 September 2022
323,216 
Net gain from fair value adjustments
39,119 
At 31 August 2023
362,335 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
106 
- 
Loans from directors
99,601 
113,703 
Accruals
1,096 
1,096 
100,803 
114,799 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
205,386 
210,329 
Aggregate of amounts that fall due for payment after five years
- 
210,329 
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).
- 7 -