Registered number
10490790
Avebury Court Limited
Filleted Accounts
30 November 2023
Avebury Court Limited
Registered number: 10490790
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Investment property 3 800,000 575,000
Current assets
Cash at bank and in hand 2,479 3,695
Creditors: amounts falling due within one year 4 (179,970) (183,945)
Net current liabilities (177,491) (180,250)
Total assets less current liabilities 622,509 394,750
Creditors: amounts falling due after more than one year 5 (233,589) (257,318)
Provisions for liabilities (58,355) (8,855)
Net assets 330,565 128,577
Capital and reserves
Called up share capital 100 100
Profit and loss account 330,465 128,477
Shareholder's funds 330,565 128,577
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Moshe Klotz
Director
Approved by the board on 21 August 2024
Avebury Court Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings No depreciation
Investment property
Investment property is initially recognised at cost and then subsequently measured at fair value. Changes in value are recognised in profit or loss.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Investment property 2023 2022
£ £
Fair value
B/fwd 575,000 575,000
Additions - -
Transfer to/from tangible fixed assets - -
Revaluation 225,000 -
Disposals - -
800,000 575,000
The fair value of the Investment Property at 30 November 2023 has been arrived at on the basis of a valuation carried out at that date by Mr M Klotz, a director of the company who is not a professionally qualified valuer.
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 757 709
Taxation and social security costs 7,548 5,464
Other creditors 171,665 177,772
179,970 183,945
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 233,589 257,318
6 Other information
Avebury Court Limited is a private company limited by shares and incorporated in England. Its registered office is:
19 Cadogan Gardens
London
N3 2HN
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