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Registration number: 02348573

Avonmouth Shipping And Salvage Properties Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Avonmouth Shipping And Salvage Properties Limited

Contents

Company Information

1

Accountants' Report

2 to 3

Balance Sheet

4 to 5

Notes to the Unaudited Financial Statements

6 to 11

 

Avonmouth Shipping And Salvage Properties Limited

Company Information

Director

Mr J R M Cox

Registered office

Greensplott Road
Chittening Estate
Avonmouth
Bristol
BS11 0YB

Accountants

Burton Sweet
Chartered Certified Accountants
Cornerstone House
Midland Way
Thornbury
Bristol
BS35 2BS

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Avonmouth Shipping And Salvage Properties Limited
for the Year Ended 31 July 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Avonmouth Shipping And Salvage Properties Limited for the year ended 31 July 2024 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Avonmouth Shipping And Salvage Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Avonmouth Shipping And Salvage Properties Limited and state those matters that we have agreed to state to the Board of Directors of Avonmouth Shipping And Salvage Properties Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Avonmouth Shipping And Salvage Properties Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Avonmouth Shipping And Salvage Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Avonmouth Shipping And Salvage Properties Limited. You consider that Avonmouth Shipping And Salvage Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Avonmouth Shipping And Salvage Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Burton Sweet
Chartered Certified Accountants
Cornerstone House
Midland Way
Thornbury
Bristol
BS35 2BS

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Avonmouth Shipping And Salvage Properties Limited
for the Year Ended 31 July 2024

26 September 2024

 

Avonmouth Shipping And Salvage Properties Limited

(Registration number: 02348573)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

183,451

190,767

Current assets

 

Debtors

5

98,617

188,167

Cash at bank and in hand

 

227,784

471,511

 

326,401

659,678

Creditors: Amounts falling due within one year

6

(60,958)

(109,314)

Net current assets

 

265,443

550,364

Net assets

 

448,894

741,131

Capital and reserves

 

Called up share capital

50

50

Revaluation reserve

610

610

Other reserves

50

50

Retained earnings

448,184

740,421

Shareholders' funds

 

448,894

741,131

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

Approved and authorised by the director on 26 September 2024
 

 

Avonmouth Shipping And Salvage Properties Limited

(Registration number: 02348573)
Balance Sheet as at 31 July 2024

.........................................
Mr J R M Cox
Director

 

Avonmouth Shipping And Salvage Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Greensplott Road
Chittening Estate
Avonmouth
Bristol
BS11 0YB

These financial statements were authorised for issue by the director on 26 September 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared 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.

 

Avonmouth Shipping And Salvage Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

 

Avonmouth Shipping And Salvage Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Avonmouth Shipping And Salvage Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Motor vehicles
 £

Other tangible assets
 £

Cost or valuation

At 1 August 2023

394,169

2,566

23,900

9,186

At 31 July 2024

394,169

2,566

23,900

9,186

Depreciation

At 1 August 2023

205,394

2,566

21,908

9,186

Charge for the year

5,324

-

1,992

-

At 31 July 2024

210,718

2,566

23,900

9,186

Carrying amount

At 31 July 2024

183,451

-

-

-

At 31 July 2023

188,775

-

1,992

-

Total
£

Cost or valuation

At 1 August 2023

429,821

At 31 July 2024

429,821

Depreciation

At 1 August 2023

239,054

Charge for the year

7,316

At 31 July 2024

246,370

Carrying amount

At 31 July 2024

183,451

At 31 July 2023

190,767

Included within the net book value of land and buildings above is £183,451 (2023 - £188,775) in respect of freehold land and buildings.
 

 

Avonmouth Shipping And Salvage Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

5,951

112,861

Prepayments

42,157

23,010

Other debtors

50,509

52,296

 

98,617

188,167

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

18,874

24,472

Taxation and social security

4,467

49,040

Accruals and deferred income

26,255

19,550

Other creditors

11,362

16,252

60,958

109,314

 

Avonmouth Shipping And Salvage Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

7

Related party transactions

2024

At 1 August 2023
£

Advances to director
£

At 31 July 2024
£

Loan

11,162

(800)

10,362

2023

At 1 August 2022
£

Repayments by director
£

At 31 July 2023
£

Loan

-

11,162

11,162