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Registration number: 07852064

A V Town Planning Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

A V Town Planning Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

A V Town Planning Ltd

(Registration number: 07852064)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

366,392

294,731

Creditors: Amounts falling due within one year

5

(103,285)

(53,764)

Total assets less current liabilities

 

263,107

240,967

Creditors: Amounts falling due after more than one year

5

(8,044)

(13,045)

Net assets

 

255,063

227,922

Capital and reserves

 

Called up share capital

200

200

Retained earnings

254,863

227,722

Shareholders' funds

 

255,063

227,922

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 Board on 30 August 2024 and signed on its behalf by:
 

.........................................
A Kinder
Director

 

A V Town Planning Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 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:
Unit 3
31-33 Kenyon Road
Lomeshaye
Nelson
Lancashire
BB9 5SP
England

These financial statements were authorised for issue by the Board on 30 August 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

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

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.

 

A V Town Planning Ltd

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

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.

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.

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 profit and loss account 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.

 

A V Town Planning Ltd

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Debtors

Current

2023
£

2022
£

Trade debtors

25,205

6,275

Prepayments

466

1,586

Other debtors

340,721

286,870

 

366,392

294,731

 

A V Town Planning Ltd

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

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

6

13,481

12,757

Taxation and social security

 

23,368

27,906

Accruals and deferred income

 

12,979

13,101

Other creditors

 

53,457

-

 

103,285

53,764

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

6

8,044

13,045

 

A V Town Planning Ltd

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

6

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

8,044

13,045

Loans and borrowings

8,044

13,045

2023
£

2022
£

Current loans and borrowings

Bank borrowings

5,129

5,208

Bank overdrafts

8,352

7,549

13,481

12,757