Iveagh Avenue Limited 14632179 false 2023-02-01 2024-02-28 2024-02-28 The principal activity of the company is property investment Digita Accounts Production Advanced 6.30.9574.0 true true 14632179 2023-02-01 2024-02-28 14632179 2024-02-28 14632179 bus:OrdinaryShareClass1 2024-02-28 14632179 core:CurrentFinancialInstruments 2024-02-28 14632179 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-28 14632179 core:Non-currentFinancialInstruments 2024-02-28 14632179 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-28 14632179 bus:SmallEntities 2023-02-01 2024-02-28 14632179 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-02-28 14632179 bus:FilletedAccounts 2023-02-01 2024-02-28 14632179 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-02-28 14632179 bus:RegisteredOffice 2023-02-01 2024-02-28 14632179 bus:Director1 2023-02-01 2024-02-28 14632179 bus:OrdinaryShareClass1 2023-02-01 2024-02-28 14632179 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-02-28 14632179 countries:EnglandWales 2023-02-01 2024-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14632179

Iveagh Avenue Limited

Unaudited Filleted Financial Statements

for the Period from 1 February 2023 to 28 February 2024

 

Iveagh Avenue Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Iveagh Avenue Limited

Company Information

Director

Mr Bharat Mehta

Registered office

Unit 5 Clements Court
Clements Lane
Ilford
Essex
IG1 2QY

Accountants

Tahas & Co Ltd
Chartered Certified Accountants
Suite 3, Second Floor
760 Eastern Avenue
Newbury Park
London
IG2 7HU

 

Iveagh Avenue Limited

(Registration number: 14632179)
Balance Sheet as at 28 February 2024

Note

2024
£

Fixed assets

 

Investment property

4

796,361

Current assets

 

Debtors

5

73,413

Cash at bank and in hand

 

17,370

 

90,783

Creditors: Amounts falling due within one year

6

(12,646)

Net current assets

 

78,137

Total assets less current liabilities

 

874,498

Creditors: Amounts falling due after more than one year

6

(874,001)

Net assets

 

497

Capital and reserves

 

Called up share capital

7

120

Retained earnings

377

Shareholders' funds

 

497

For the financial period ending 28 February 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 period 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 October 2024
 

 

Iveagh Avenue Limited

(Registration number: 14632179)
Balance Sheet as at 28 February 2024

.........................................
Mr Bharat Mehta
Director

 

Iveagh Avenue Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 28 February 2024

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 5 Clements Court
Clements Lane
Ilford
Essex
IG1 2QY
United Kingdom

These financial statements were authorised for issue by the director on 17 October 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

Iveagh Avenue Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 28 February 2024

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

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.

 

Iveagh Avenue Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 28 February 2024

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Investment properties

2024
£

Additions

796,361

At 28 February

796,361

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2024
£

Prepayments

73,413

 

73,413

 

Iveagh Avenue Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 28 February 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

8

11,358

Taxation and social security

 

88

Accruals and deferred income

 

1,200

 

12,646

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

8

874,001

7

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary of £1 each

120

120

   

8

Loans and borrowings

Non-current loans and borrowings

2024
£

Other borrowings

874,001

Current loans and borrowings

2024
£

Other borrowings

11,358