Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr M R Avery 05/12/2018 02 September 2024 The principal activity of the Company during the financial year was that of property development. 11712990 2023-12-31 11712990 bus:Director1 2023-12-31 11712990 2022-12-31 11712990 core:CurrentFinancialInstruments 2023-12-31 11712990 core:CurrentFinancialInstruments 2022-12-31 11712990 core:Non-currentFinancialInstruments 2023-12-31 11712990 core:Non-currentFinancialInstruments 2022-12-31 11712990 core:ShareCapital 2023-12-31 11712990 core:ShareCapital 2022-12-31 11712990 core:RetainedEarningsAccumulatedLosses 2023-12-31 11712990 core:RetainedEarningsAccumulatedLosses 2022-12-31 11712990 bus:OrdinaryShareClass1 2023-12-31 11712990 2023-01-01 2023-12-31 11712990 bus:FilletedAccounts 2023-01-01 2023-12-31 11712990 bus:SmallEntities 2023-01-01 2023-12-31 11712990 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11712990 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11712990 bus:Director1 2023-01-01 2023-12-31 11712990 2022-01-01 2022-12-31 11712990 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 11712990 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 11712990 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11712990 (England and Wales)

AVERY DEVELOPMENTS (SW) LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

AVERY DEVELOPMENTS (SW) LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

AVERY DEVELOPMENTS (SW) LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
AVERY DEVELOPMENTS (SW) LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTOR Mr M R Avery
REGISTERED OFFICE 20 Powlesland Road
Exeter
EX2 8RS
United Kingdom
COMPANY NUMBER 11712990 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
AVERY DEVELOPMENTS (SW) LIMITED

BALANCE SHEET

As at 31 December 2023
AVERY DEVELOPMENTS (SW) LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Current assets
Stocks 3 181,546 428,380
Debtors 4 3,722 6,692
Cash at bank and in hand 24,609 9,787
209,877 444,859
Creditors: amounts falling due within one year 5 ( 175,705) ( 270,568)
Net current assets 34,172 174,291
Total assets less current liabilities 34,172 174,291
Creditors: amounts falling due after more than one year 6 ( 37,433) ( 206,210)
Net liabilities ( 3,261) ( 31,919)
Capital and reserves
Called-up share capital 7 1 1
Profit and loss account ( 3,262 ) ( 31,920 )
Total shareholder's deficit ( 3,261) ( 31,919)

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Avery Developments (SW) Limited (registered number: 11712990) were approved and authorised for issue by the Director on 02 September 2024. They were signed on its behalf by:

Mr M R Avery
Director
AVERY DEVELOPMENTS (SW) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
AVERY DEVELOPMENTS (SW) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Avery Developments (SW) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 20 Powlesland Road, Exeter, EX2 8RS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £3,261 (2022: £31,919). The Company is supported through loans from the director and its bank. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

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 value added tax, returns, rebates and discounts.

The company recognises revenue when the value of goods and services provided to date can be reliably measured.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are
impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

The company holds the following financial instruments:
• Short term trade and other debtors and creditors;
• Bank loans and;
• Cash and bank balances.

All financial instruments are classified as basic. The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to
another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Stocks

2023 2022
£ £
Work in progress 181,546 428,380

4. Debtors

2023 2022
£ £
Other debtors 3,722 6,692

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 10 0
Other creditors 175,695 270,568
175,705 270,568

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 0 156,210
Other creditors 37,433 50,000
37,433 206,210

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1