Company registration number 04083411 (England and Wales)
AVENUE NANNIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
AVENUE NANNIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
Detailed profit and loss account
11
AVENUE NANNIES LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2023
31 October 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
624,900
659,475
Investment property
5
320,000
320,000
944,900
979,475
Current assets
Debtors
6
106,274
94,816
Cash at bank and in hand
529,396
892,042
635,670
986,858
Creditors: amounts falling due within one year
7
(231,885)
(242,004)
Net current assets
403,785
744,854
Total assets less current liabilities
1,348,685
1,724,329
Creditors: amounts falling due after more than one year
8
(16,616)
(408,591)
Provisions for liabilities
10
(49,033)
(41,421)
Net assets
1,283,036
1,274,317
Capital and reserves
Called up share capital
100
100
Revaluation reserve
79,100
79,100
Profit and loss reserves
1,203,836
1,195,117
Total equity
1,283,036
1,274,317

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

AVENUE NANNIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2023
31 October 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 25 July 2024 and are signed on its behalf by:
Miss J Collins
Mrs M Harris
Director
Director
Company registration number 04083411 (England and Wales)
AVENUE NANNIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
- 3 -
1
Accounting policies
Company information

Avenue Nannies Limited is a private company limited by shares incorporated in England and Wales. The registered office is Connolly Lodge, Berrywood Close, St Crispins, Northampton, Northamptonshire, NN5 4BW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 15 Years.

 

 

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
50 Years straight line
Plant and equipment
3 Years straight line
Fixtures and fittings
5 Years straight line
Computers
3 Years straight line
Motor vehicles
5 Years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment properties

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 profit or loss.

AVENUE NANNIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Leases
1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
62
62
AVENUE NANNIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 November 2022 and 31 October 2023
30,000
Amortisation and impairment
At 1 November 2022 and 31 October 2023
30,000
Carrying amount
At 31 October 2023
-
0
At 31 October 2022
-
0
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 November 2022
634,970
310,950
945,920
Additions
-
0
16,814
16,814
Disposals
-
0
(3,699)
(3,699)
At 31 October 2023
634,970
324,065
959,035
Depreciation and impairment
At 1 November 2022
63,497
222,948
286,445
Depreciation charged in the year
12,699
38,520
51,219
Eliminated in respect of disposals
-
0
(3,529)
(3,529)
At 31 October 2023
76,196
257,939
334,135
Carrying amount
At 31 October 2023
558,774
66,126
624,900
At 31 October 2022
571,473
88,002
659,475
5
Investment property
2023
£
Fair value
At 1 November 2022 and 31 October 2023
320,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out in 2021 by the Directors following improvements in the property market.

AVENUE NANNIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 6 -
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
32,560
35,817
Other debtors
73,714
58,999
106,274
94,816
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
10,000
28,300
Trade creditors
67,664
60,017
Corporation tax
23,003
23,813
Other taxation and social security
20,201
13,700
Other creditors
111,017
116,174
231,885
242,004
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
16,616
408,591
Creditors which fall due after five years are as follows:
2023
2022
£
£
Payable by instalments
-
308,926
9
Bank loan security

HSBC hold two charges against the company:

10
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
49,033
41,421
AVENUE NANNIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 7 -
11
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
6,063
19,519
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