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Registered number: 13712443
Avinci Homes Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Greenwood & Co Limited
Chartered Certified Accountants
41 Derwent Gardens
Redbridge
Ilford
Essex
IG4 5NA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13712443
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,514 2,018
Investment Properties 5 1,826,804 803,354
1,828,318 805,372
CURRENT ASSETS
Cash at bank and in hand 1,635 4,200
1,635 4,200
Creditors: Amounts Falling Due Within One Year 6 (18,591 ) (19,596 )
NET CURRENT ASSETS (LIABILITIES) (16,956 ) (15,396 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,811,362 789,976
Creditors: Amounts Falling Due After More Than One Year 7 (1,808,771 ) (790,715 )
NET ASSETS/(LIABILITIES) 2,591 (739 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 2,491 (839 )
SHAREHOLDERS' FUNDS 2,591 (739)
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr V Saravanamuttu
Director
28/10/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Avinci Homes Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13712443 . The registered office is 108 Westminster Way, Oxford, OX2 0LP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents rental income receivable during the period.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% reducing balance
2.4. Investment Properties
Investment property is included at fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
2.5. Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 November 2022 2,691
As at 31 October 2023 2,691
Depreciation
As at 1 November 2022 673
Provided during the period 504
As at 31 October 2023 1,177
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 October 2023 1,514
As at 1 November 2022 2,018
5. Investment Property
2023
£
Fair Value
As at 1 November 2022 803,354
Additions 1,023,450
As at 31 October 2023 1,826,804
The director believes that the fair value of the investment properties to be not materially different to the current carrying value based on his knowledge of the comparable local properties.
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other creditors 17,730 19,596
Taxation and social security 861 -
18,591 19,596
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 1,041,164 -
Amounts owed to related parties 767,607 790,715
1,808,771 790,715
8. Secured Creditors
The following creditor is secured on the investment property, 154  Central Road, Cheam, KT14 8HH, owned by the company: 
2023 2022
£ £
Bank loans and overdrafts 1,041,164 -
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 4