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Registration number: 07729144

All Avenues Explored Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

All Avenues Explored Ltd

Contents

Company Information

1

Accountants' Report

2

Statement of Financial Position

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

All Avenues Explored Ltd

Company Information

Director

P Patel

Company secretary

Mrs B Patel

Registered office

79 Park Lane
Croydon
Surrey
CR0 1JG

Accountants

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
All Avenues Explored Ltd
for the Year Ended 30 September 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of All Avenues Explored Ltd for the year ended 30 September 2023 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of All Avenues Explored Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of All Avenues Explored Ltd and state those matters that we have agreed to state to the Board of Directors of All Avenues Explored Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than All Avenues Explored Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that All Avenues Explored Ltd 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 All Avenues Explored Ltd. You consider that All Avenues Explored Ltd 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 All Avenues Explored Ltd. 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.

......................................

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

26 April 2024

 

All Avenues Explored Ltd

(Registration number: 07729144)
Statement of Financial Position as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,035,016

1,034,157

Current assets

 

Debtors

5

1,139,593

211,111

Cash at bank and in hand

 

29,100

8,330

 

1,168,693

219,441

Creditors: Amounts falling due within one year

6

(469,127)

(521,749)

Net current assets/(liabilities)

 

699,566

(302,308)

Total assets less current liabilities

 

1,734,582

731,849

Creditors: Amounts falling due after more than one year

6

(1,663,544)

(705,977)

Net assets

 

71,038

25,872

Capital and reserves

 

Called up share capital

100

100

Retained earnings

70,938

25,772

Shareholders' funds

 

71,038

25,872

 

All Avenues Explored Ltd

(Registration number: 07729144)
Statement of Financial Position as at 30 September 2023 (continued)

For the financial year ending 30 September 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 year 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 26 April 2024
 

.........................................
P Patel
Director

   
     
 

All Avenues Explored Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

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

The address of its registered office is:
79 Park Lane
Croydon
Surrey
CR0 1JG
England

The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

All Avenues Explored Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

not depreciated

Computer equipment

25% on straight line method

Assets held under finance leases are depreciated in the same way as owned assets.

At each statement of financial position date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment
loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the
recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

It is company policy to maintain the freehold property in a continuous state of good repair. The directors consider that the life of the freehold property is long and the estimated residual values at the
end of the useful economic life is such that any depreciation is immaterial. The carrying value is reviewed for impairment annually.

Based on the above, no charge has been made in the accounts for depreciation of the freehold property.

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.

 

All Avenues Explored Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

2

Accounting policies (continued)

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

 

All Avenues Explored Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

4

Tangible assets

Land and buildings
£

Office equipment
£

Total
£

Cost or valuation

At 1 October 2022

1,034,157

-

1,034,157

Additions

-

933

933

At 30 September 2023

1,034,157

933

1,035,090

Depreciation

Charge for the year

-

74

74

At 30 September 2023

-

74

74

Carrying amount

At 30 September 2023

1,034,157

859

1,035,016

At 30 September 2022

1,034,157

-

1,034,157

5

Debtors

Note

2023
£

2022
£

Trade debtors

 

19,051

38,737

Amounts owed by participating interests

100

100

Prepayments

 

442

-

Other debtors

 

1,120,000

172,274

 

1,139,593

211,111

 

All Avenues Explored Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

21,216

-

Trade creditors

 

3,873

38,459

Amounts owed to participating interests

412,212

387,212

Taxation and social security

 

25,556

9,032

Accruals and deferred income

 

6,270

4,435

Other creditors

 

-

82,611

 

469,127

521,749

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

1,663,544

705,977

7

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

663,544

705,977

Other borrowings

1,000,000

-

1,663,544

705,977

Current loans and borrowings

2023
£

2022
£

Bank borrowings

21,216

-