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REGISTERED NUMBER: 11064899 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023


FOR



AYALA ENTERPRISE LTD



AYALA ENTERPRISE LTD (REGISTERED NUMBER: 11064899)








CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023





Page




Company Information  

1




Balance Sheet  

2




Notes to the Financial Statements  

4





AYALA ENTERPRISE LTD



COMPANY INFORMATION

FOR THE YEAR ENDED 30 NOVEMBER 2023









DIRECTOR:

D Sanchez Ayala







REGISTERED OFFICE:

24 St Cuthberts Way


Darlington


DL1 1GB







REGISTERED NUMBER:

11064899 (England and Wales)







ACCOUNTANTS:

CP Waites


Chartered Accountants


24 St Cuthberts Way


Darlington


DL1 1GB



AYALA ENTERPRISE LTD (REGISTERED NUMBER: 11064899)



BALANCE SHEET

30 NOVEMBER 2023



2023

2022



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

4

394,089


394,678



Investment properties

5

3,274,767


3,274,767



3,668,856


3,669,445




CURRENT ASSETS

Stocks

35,073


11,500



Debtors

6

27,317


9,735



Cash at bank

22,942


41,741



85,332


62,976



CREDITORS

Amounts falling due within one year

7

2,914,951


2,924,906



NET CURRENT LIABILITIES

(2,829,619

)

(2,861,930

)


TOTAL ASSETS LESS CURRENT

LIABILITIES

839,237


807,515




CREDITORS

Amounts falling due after more than one

year

8

(349,396

)

(391,940

)



PROVISIONS FOR LIABILITIES

10

(80,500

)

(61,300

)


NET ASSETS

409,341


354,275




CAPITAL AND RESERVES

Called up share capital

11

1


1



Fair value reserve


259,200


259,200



Retained earnings

150,140


95,074



SHAREHOLDERS' FUNDS

409,341


354,275




The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.  


The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.  


The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.



AYALA ENTERPRISE LTD (REGISTERED NUMBER: 11064899)



BALANCE SHEET - continued

30 NOVEMBER 2023



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


In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.


The financial statements were approved by the director and authorised for issue on 29 August 2024 and were signed by:






D Sanchez Ayala - Director




AYALA ENTERPRISE LTD (REGISTERED NUMBER: 11064899)



NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023


1.

STATUTORY INFORMATION



Ayala Enterprise Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.


2.

ACCOUNTING POLICIES



Basis of preparing the financial statements


These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.    



Turnover


Turnover represents rent receivable from the investment properties net of VAT.



Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment - 20% on cost
Freehold land - 0%


Investment properties


The investment properties are shown at their fair value at the balance sheet date.  Any surplus or deficit arising from the changes in fair value is recognised in the income statement.



Stocks


Stock is valued at cost.



Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.

EMPLOYEES AND DIRECTORS



The average number of employees and directors during the year was 1 (2022 - 1 ).



AYALA ENTERPRISE LTD (REGISTERED NUMBER: 11064899)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2023


4.

TANGIBLE FIXED ASSETS


Freehold



land


Equipment


Totals

£   

£   

£   



COST


At 1 December 2022


and 30 November 2023

392,274


2,944


395,218




DEPRECIATION


At 1 December 2022

-


540


540




Charge for year

-


589


589




At 30 November 2023

-


1,129


1,129




NET BOOK VALUE


At 30 November 2023

392,274


1,815


394,089




At 30 November 2022

392,274


2,404


394,678




5.

INVESTMENT PROPERTIES



£   



FAIR VALUE


At 1 December 2022


and 30 November 2023

3,274,767




NET BOOK VALUE


At 30 November 2023

3,274,767




At 30 November 2022

3,274,767





The director does not believe that there has been an increase or decrease  in the value of the investment properties in the year. The properties have not been valued by an independent valuer.


6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2023

2022


£   

£   



Trade debtors

20,200


7,800




Prepayments and accrued income

7,117


1,935



27,317


9,735





AYALA ENTERPRISE LTD (REGISTERED NUMBER: 11064899)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2023


7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2023

2022


£   

£   



Bank loans

41,847


40,041




Trade creditors

3,240


-




Corporation tax

20,366


88




VAT

7,117


8,255




Director's current account

2,360,099


2,403,597




Accrued expenses

28,032


14,175




Amounts owed to related


parties

446,000


450,500




Other creditors

8,250


8,250



2,914,951


2,924,906




8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR


2023

2022


£   

£   



Bank loans falling due in two to five years

repayable by instalments

334,396


376,940




Other creditors

15,000


15,000



349,396


391,940




9.

SECURED DEBTS



The following secured debts are included within creditors:


2023

2022


£   

£   



Bank loan

347,913


378,652





A bank loan is secured by way of a fixed charge on two investment properties and a fixed and floating charge over all of the property or undertaking of the company.


10.

PROVISIONS FOR LIABILITIES

2023

2022


£   

£   



Deferred tax

80,500


61,300





Deferred



tax


£   



Balance at 1 December 2022

61,300




Movement

19,200




Balance at 30 November 2023

80,500




The deferred tax provision relates to the revaluation of an investment property to its estimated fair value of £80,000 (2022 - £60,800) and accelerated capital allowances of £500 (2022 - £500).



AYALA ENTERPRISE LTD (REGISTERED NUMBER: 11064899)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 NOVEMBER 2023


11.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

2023

2022



value:

£   

£   



1

Ordinary

1

1


1




12.

RELATED PARTY DISCLOSURES



At the balance sheet date £245,000 (2022 - £245,000) was due to the director's wife and £201,000 (2022 - £205,500) was due to Hannah Ayala Designs Ltd, a company in which the director's wife is the sole director and shareholder. During the year rent was charged to the director of £14,000 (2022 - £24,000) with £45,000 (2022 - £45,000) charged to Hannah Ayala Designs Ltd. Loans are interest free and repayable on demand.


13.

CONTROLLING PARTY



The controlling party is D Sanchez Ayala.