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REGISTERED NUMBER: 05179861 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

AVERWICK PROPERTIES LTD

AVERWICK PROPERTIES LTD (Registered number: 05179861)

Contents of the Financial Statements
for the Year Ended 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AVERWICK PROPERTIES LTD

Company Information
for the Year Ended 31 DECEMBER 2023







DIRECTORS: H Shah
M Shah





REGISTERED OFFICE: Alpha House
296 Kenton Road
Harrow
HA3 8DD





REGISTERED NUMBER: 05179861 (England and Wales)





ACCOUNTANTS: Frasers Young Limited
Chartered Certified Accountants
Alpha House
296 Kenton Road
Harrow
HA3 8DD

AVERWICK PROPERTIES LTD (Registered number: 05179861)

Balance Sheet
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 6,215,614 6,215,646

CURRENT ASSETS
Debtors 5 31,868 128,949
Cash at bank 503,526 507,696
535,394 636,645
CREDITORS
Amounts falling due within one year 6 (294,624 ) (121,116 )
NET CURRENT ASSETS 240,770 515,529
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,456,384

6,731,175

CREDITORS
Amounts falling due after more than one
year

7

(2,983,644

)

(3,195,414

)

PROVISIONS FOR LIABILITIES (601,031 ) (595,063 )
NET ASSETS 2,871,709 2,940,698

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,871,609 2,940,598
SHAREHOLDERS' FUNDS 2,871,709 2,940,698

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

AVERWICK PROPERTIES LTD (Registered number: 05179861)

Balance Sheet - continued
31 DECEMBER 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 Board of Directors and authorised for issue on 21 September 2024 and were signed on its behalf by:




H Shah - Director



M Shah - Director


AVERWICK PROPERTIES LTD (Registered number: 05179861)

Notes to the Financial Statements
for the Year Ended 31 DECEMBER 2023


1. STATUTORY INFORMATION

AVERWICK PROPERTIES 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 as modified by the revaluation of certain assets.

Freehold & long leasehold properties.
Freehold & long leasehold properties are included at fair value. Gains are recognised in the statement of recognised gains and losses the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - NIL
Computer equipment - 15% on reducing balance

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Freehold Computer
property equipment Totals
£    £    £   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 6,215,432 1,276 6,216,708
DEPRECIATION
At 1 January 2023 - 1,062 1,062
Charge for year - 32 32
At 31 December 2023 - 1,094 1,094
NET BOOK VALUE
At 31 December 2023 6,215,432 182 6,215,614
At 31 December 2022 6,215,432 214 6,215,646

AVERWICK PROPERTIES LTD (Registered number: 05179861)

Notes to the Financial Statements - continued
for the Year Ended 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2023 is represented by:

Freehold Computer
property equipment Totals
£    £    £   
Valuation in 2007 476,280 - 476,280
Valuation in 2014 1,641,510 - 1,641,510
Valuation in 2015 375,000 - 375,000
Valuation in 2016 325,000 - 325,000
Valuation in 2019 100,000 - 100,000
Cost 3,297,642 1,276 3,298,918
6,215,432 1,276 6,216,708

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by associates - 100,000
Other debtors 31,868 28,949
31,868 128,949

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 29,845 27,656
Other creditors 264,779 93,460
294,624 121,116

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 2,983,644 3,195,414

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 2,983,644 3,195,414

The bank loans are secured against the properties owned by the company.

AVERWICK PROPERTIES LTD (Registered number: 05179861)

Notes to the Financial Statements - continued
for the Year Ended 31 DECEMBER 2023


9. ULTIMATE CONTROLLING PARTY

The controlling party is the directors.