AVON GROUND RENTS LIMITED

Company Registration Number:
07399676 (England and Wales)

Unaudited abridged accounts for the year ended 31 October 2023

Period of accounts

Start date: 01 November 2022

End date: 31 October 2023

AVON GROUND RENTS LIMITED

Contents of the Financial Statements

for the Period Ended 31 October 2023

Balance sheet
Notes

AVON GROUND RENTS LIMITED

Balance sheet

As at 31 October 2023


Notes

2023

2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 1 1
Investments: 4 65,908,942 65,437,835
Total fixed assets: 65,908,943 65,437,836
Current assets
Stocks: 0 0
Debtors: 5 7,287,670 5,931,773
Cash at bank and in hand: 2,234,883 133,851
Investments:   0 0
Total current assets: 9,522,553 6,065,624
Creditors: amounts falling due within one year: 6 (27,263,913) (22,679,552)
Net current assets (liabilities): (17,741,360) (16,613,928)
Total assets less current liabilities: 48,167,583 48,823,908
Creditors: amounts falling due after more than one year: 7 (26,736,282) (27,938,730)
Provision for liabilities: (2,133,487) (2,133,487)
Total net assets (liabilities): 19,297,814 18,751,691
Capital and reserves
Called up share capital: 2 2
Share premium account: 0 0
Revaluation reserve:810,181,67910,210,860
Other reserves: 0 0
Profit and loss account: 9,116,133 8,540,829
Shareholders funds: 19,297,814 18,751,691

The notes form part of these financial statements

AVON GROUND RENTS LIMITED

Balance sheet statements

For the year ending 31 October 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 20 August 2024
and signed on behalf of the board by:

Name: I Moskovitz
Status: Director

The notes form part of these financial statements

AVON GROUND RENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

AVON GROUND RENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

2. Employees

2023 2022
Average number of employees during the period 1 1

AVON GROUND RENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

3. Tangible Assets

Total
Cost £
At 01 November 2022 1
At 31 October 2023 1
Depreciation
At 01 November 2022 0
Charge for year 0
On disposals 0
Other adjustments 0
At 31 October 2023 0
Net book value
At 31 October 2023 1
At 31 October 2022 1

AVON GROUND RENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

4. Fixed investments

3d. Investment Properties Investment Property is included at fair value. Gains/(Losses) are recognised in the Statement of Comprehensive Income. Deferred Taxation is provided on these Gains/(Losses) at the rate expected to apply when the property is sold. 3e. Investments Fixed asset investments are shown at cost less amounts written off. Provisions are made for permanent fluctuations in value.

AVON GROUND RENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

5. Debtors

2023 2022
££
Debtors due after more than one year: 0 0

AVON GROUND RENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

6. Creditors: amounts falling due within one year note

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 £ £ UK corporation tax 497,830 808,928 Other creditors 24,011,539 21,399,442 Accruals 2,754,544 471,182 27,263,913 22,679,552 Other Creditors include loans from Companies in which the Director is also a Director (see Note 15).

AVON GROUND RENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

7. Creditors: amounts falling due after more than one year note

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2023 2022 £ £ Bank loans (secured) >1yr 26,736,282 27,938,730 26,736,282 27,938,730 The Bank Loan, which at the year end totals £26,736,282 (2022: £27,938,730) and is secured by a fixed charge over certain of the Company's Freehold Investment Properties, the valuations of which can be found in Note 7 to the Accounts. The loan is also secured by Fixed Charges over all of the sister company Avon Freeholds Limited Investments and its wholly owned subsidiary Property Property Limited.

AVON GROUND RENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

8. Revaluation reserve

2023
£
Balance at 01 November 2022 10,210,860
Surplus or deficit after revaluation (29,181)
Balance at 31 October 2023 10,181,679

AVON GROUND RENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

9. Related party transactions

Name of the related party:
Relationship:
Similar ownership
Description of the Transaction: Interest free loan to related party
£
Balance at 01 November 2022 2,540,173
Balance at 31 October 2023 2,540,173
Name of the related party:
Relationship:
Similar ownership
Description of the Transaction: Interest free loan to related party
£
Balance at 01 November 2022 114,716
Balance at 31 October 2023 114,716
Name of the related party:
Relationship:
Similar ownership
Description of the Transaction: Interest free loan to related party
£
Balance at 01 November 2022 11,000
Balance at 31 October 2023 11,000
Name of the related party:
Relationship:
Similar ownership
Description of the Transaction: Interest free loan to related party
£
Balance at 01 November 2022 186,305
Balance at 31 October 2023 28,805
Name of the related party:
Relationship:
Similar ownership
Description of the Transaction: Interest free loan from related party
£
Balance at 01 November 2022 717,134
Balance at 31 October 2023 567,134
Name of the related party:
Relationship:
Similar ownership
Description of the Transaction: Interest chargeable loan from related party
£
Balance at 01 November 2022 7,873,000
Balance at 31 October 2023 8,306,416
Name of the related party:
Relationship:
Similar ownership
Description of the Transaction: Interest free loan from related party
£
Balance at 01 November 2022 66,213
Balance at 31 October 2023 32,426
Name of the related party:
Relationship:
Similar ownership
Description of the Transaction: Interest free loan from related party
£
Balance at 01 November 2022 300,000
Balance at 31 October 2023 1,279,024

15. RELATED PARTY TRANSACTIONS the company has outstanding loans (to)/from the following Related Parties which are under common ownership and share common Directors. The loans (except as noted) are all interest free and repayable on demand. In the case of Triplerose Limited that company recharged the interest (£382,832) it incurred on its equivalent bank loans and added a premium.