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Registration number: 14906968

First Avenue Holdings Limited

Annual Report and Unaudited Filleted Financial Statements

for the Period from 31 May 2023 to 31 December 2023

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First Avenue Holdings Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

First Avenue Holdings Limited

Company Information

Director

Mr SJR Temple

Registered office

Unit 1 First Avenue
Bletchley
Milton Keynes
Buckinghamshire
MK1 1DX

Accountants

Michael J Emery & Co Limited
Chartered Accountants
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

 

First Avenue Holdings Limited

(Registration number: 14906968)
Balance Sheet as at 31 December 2023

Note

2023
£

Fixed assets

 

Investments

4

253,626

Current assets

 

Debtors

5

2,840

Creditors: Amounts falling due within one year

6

(63,161)

Net current liabilities

 

(60,321)

Total assets less current liabilities

 

193,305

Creditors: Amounts falling due after more than one year

6

(89,102)

Net assets

 

104,203

Capital and reserves

 

Called up share capital

1

Share premium reserve

104,702

Retained earnings

(500)

Shareholders' funds

 

104,203

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 18 April 2024
 

 

First Avenue Holdings Limited

(Registration number: 14906968)
Balance Sheet as at 31 December 2023

.........................................
Mr SJR Temple
Director

 

First Avenue Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 31 May 2023 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales, 04871420.

The address of its registered office is:
Unit 1 First Avenue
Bletchley
Milton Keynes
Buckinghamshire
MK1 1DX
UK

These financial statements were authorised for issue by the director on 18 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

First Avenue Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 31 May 2023 to 31 December 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company during the period, including the director, was 1.

4

Investments

2023
£

Investments in subsidiaries

253,626

 

First Avenue Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 31 May 2023 to 31 December 2023

Subsidiaries

£

Cost or valuation

Additions

253,626

Carrying amount

At 31 December 2023

253,626

5

Debtors

Current

2023
£

Directors' loan account

2,840

6

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Accruals and deferred income

500

Other creditors

62,661

63,161

Creditors: amounts falling due after more than one year

2023
£

Due after one year

Other non-current financial liabilities

89,102

 

First Avenue Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 31 May 2023 to 31 December 2023

7

Related party transactions

Transactions with the director

2023

At 31 May 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Mr SJR Temple

-

3,492

(652)

2,841

         
       

 

The overdrawn directors' loan account will be cleared within 9 months of the year-end date.