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REGISTERED NUMBER: 11975156 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 March 2024

for


117 AVENUE ROAD LIMITED



117 AVENUE ROAD LIMITED (REGISTERED NUMBER: 11975156)








Contents of the Financial Statements

for the Year Ended 31 March 2024





Page




Company Information  

1




Statement of Financial Position  

2




Notes to the Financial Statements  

3





117 AVENUE ROAD LIMITED



Company Information

for the Year Ended 31 March 2024









DIRECTORS:

Mr R Harris


N J Grant







REGISTERED OFFICE:

Spitalfields House


Stirling Way


Borehamwood


Hertfordshire


WD6 2FX







REGISTERED NUMBER:

11975156 (England and Wales)







ACCOUNTANTS:

Primera Accountants Limited


First Floor


Spitalfields House


Stirling Way


Borehamwood


Hertfordshire


WD6 2FX



117 AVENUE ROAD LIMITED (REGISTERED NUMBER: 11975156)



Statement of Financial Position

31 March 2024



31.3.24


31.3.23


Notes

£   

£   


FIXED ASSETS

Property, plant and equipment

4

1,251


2,012




CURRENT ASSETS

Debtors

5

417


12,972



Cash at bank and in hand

261


261,448



678


274,420



CREDITORS

Amounts falling due within one year

6

(34

)

(217,491

)


NET CURRENT ASSETS

644


56,929



TOTAL ASSETS LESS CURRENT

LIABILITIES

1,895


58,941




CAPITAL AND RESERVES

Called up share capital

7

2


2



Retained earnings

1,893


58,939



SHAREHOLDERS' FUNDS

1,895


58,941




The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.  


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.  


The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:






N J Grant - Director




117 AVENUE ROAD LIMITED (REGISTERED NUMBER: 11975156)



Notes to the Financial Statements

for the Year Ended 31 March 2024


1.

STATUTORY INFORMATION



117 Avenue Road Limited 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.


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


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.    



Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.


Revenue


Revenue represents the proceeds from sales of property held by the company for the purposes of the trade.Revenue and profits on sales are recognised on legal completion.



Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost



117 AVENUE ROAD LIMITED (REGISTERED NUMBER: 11975156)



Notes to the Financial Statements - continued

for the Year Ended 31 March 2024


2.

ACCOUNTING POLICIES - continued



Financial instruments

The company has elected to apply the provisions of Schedule 1A of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.


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 statement of financial position date.



117 AVENUE ROAD LIMITED (REGISTERED NUMBER: 11975156)



Notes to the Financial Statements - continued

for the Year Ended 31 March 2024


2.

ACCOUNTING POLICIES - continued


Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.


Cash and cash equivalent


Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.



Going concern


The directors have considered the company's financial resources and performance and believe that the company is well placed to manage its business risks successfully and that the company has adequate resources to continue in operational existence for the foreseeable future. Consequently, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.


3.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 2 (2023 - 2 ) .


4.

PROPERTY, PLANT AND EQUIPMENT


Fixtures



and


Computer



fittings


equipment


Totals

£   

£   

£   



COST


At 1 April 2023


and 31 March 2024

1,002


2,043


3,045




DEPRECIATION


At 1 April 2023

296


736


1,032




Charge for year

251


511


762




At 31 March 2024

547


1,247


1,794




NET BOOK VALUE


At 31 March 2024

455


796


1,251




At 31 March 2023

706


1,307


2,013




5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.3.24


31.3.23

£   

£   



VAT

417


12,972





117 AVENUE ROAD LIMITED (REGISTERED NUMBER: 11975156)



Notes to the Financial Statements - continued

for the Year Ended 31 March 2024


6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.3.24


31.3.23

£   

£   



Trade creditors

34


9,816




Amounts owed to group undertakings

-


80,000




Tax

-


83,721




Other creditors

-


10,585




Directors' current accounts

-


10,050




Accrued expenses

-


23,319



34


217,491




7.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

31.3.24


31.3.23


value:

£   

£   



2

Ordinary

£1

2


2