REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 26 February 2024 |
for |
Avontrent Property Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 26 February 2024 |
for |
Avontrent Property Limited |
Avontrent Property Limited (Registered number: 10639617) |
Contents of the Financial Statements |
for the Year Ended 26 February 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Avontrent Property Limited |
Company Information |
for the Year Ended 26 February 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1 Pinnacle Way |
Pride Park |
Derby |
Derbyshire |
DE24 8ZS |
Avontrent Property Limited (Registered number: 10639617) |
Balance Sheet |
26 February 2024 |
2024 | 2023 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Non distributable reserve | 10 |
Retained earnings | 10 | ( |
) |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Avontrent Property Limited (Registered number: 10639617) |
Balance Sheet - continued |
26 February 2024 |
The financial statements were approved by the director and authorised for issue on |
Avontrent Property Limited (Registered number: 10639617) |
Notes to the Financial Statements |
for the Year Ended 26 February 2024 |
1. | STATUTORY INFORMATION |
Avontrent Property Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Avontrent Property Limited (Registered number: 10639617) |
Notes to the Financial Statements - continued |
for the Year Ended 26 February 2024 |
4. | TANGIBLE FIXED ASSETS |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
COST |
At 27 February 2023 |
Additions |
Reclassification/transfer | ( |
) | ( |
) |
At 26 February 2024 |
DEPRECIATION |
At 27 February 2023 |
Charge for year |
At 26 February 2024 |
NET BOOK VALUE |
At 26 February 2024 |
At 26 February 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
Revaluations | 655,311 |
Reclassification/transfer | 1,692,648 |
At 26 February 2024 |
NET BOOK VALUE |
At 26 February 2024 |
Fair value at 26 February 2024 is represented by: |
£ |
Valuation in 2024 | 655,312 |
Cost | 2,029,688 |
2,685,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
as restated |
£ | £ |
Cost | 1,992,059 | - |
Investment property was valued on an open market basis on 26 February 2024 by the director . |
Avontrent Property Limited (Registered number: 10639617) |
Notes to the Financial Statements - continued |
for the Year Ended 26 February 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
as restated |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
as restated |
£ | £ |
Bank loans and overdrafts |
Trade creditors | ( |
) |
Tax |
Other creditors |
Directors' current accounts | 161,009 | 103,542 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
as restated |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Bank loans more 5 yr by instal |
Other loans more 5yrs non-inst | 1,691,339 | 1,387,047 |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Other loans more 5yrs non-inst |
Repayable by instalments |
Bank loans more 5 yr by instal | 275 | 6,093 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | as restated |
£ | £ |
Ordinary | £1 | 1 | 1 |
Avontrent Property Limited (Registered number: 10639617) |
Notes to the Financial Statements - continued |
for the Year Ended 26 February 2024 |
10. | RESERVES |
Non |
Retained | distributable |
earnings | reserve | Totals |
£ | £ | £ |
At 27 February 2023 | 72,893 |
Deficit for the year | ( |
) | ( |
) |
Dividends | ( |
) | ( |
) |
Revaluation | - | 491,484 | 491,484 |
At 26 February 2024 | ( |
) | 401,125 |
11. | RELATED PARTY DISCLOSURES |
The balance outstanding on interest free loans provided from companies with common directors and under common control amounted to £268,415 (2023: £230,000). |