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No description of principal activity
2023-05-01
Sage Accounts Production Advanced 2023 - FRS102_2023
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07590471
2023-05-01
2024-04-30
07590471
2024-04-30
07590471
2023-04-30
07590471
2022-05-01
2023-04-30
07590471
2023-04-30
07590471
2022-04-30
07590471
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2024-04-30
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2024-04-30
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2024-04-30
07590471
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07590471
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07590471
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07590471
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07590471
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2024-04-30
07590471
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07590471
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1
2023-05-01
2024-04-30
COMPANY REGISTRATION NUMBER:
07590471
Filleted Unaudited Financial Statements |
|
Year ended 30 April 2024
Officers and professional advisers |
1 |
|
|
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements |
2 |
|
|
Statement of financial position |
3 |
|
|
Notes to the financial statements |
5 |
|
|
Officers and Professional Advisers |
|
The board of directors |
J C G Nimmon |
|
L Wilson |
|
|
Registered office |
First Floor |
|
Templeback 10 |
|
Temple Back |
|
Bristol |
|
Somerset |
|
England |
|
BS1 6FL |
|
|
Accountants |
Maneely Mc Cann Chartered Accountants |
|
Chartered Accountants |
|
Aisling House |
|
50 Stranmillis Embankment |
|
Belfast |
|
BT9 5FL |
|
|
Business address
The Old Bank
16 Antrim Road
Belfast
Northern Ireland
BT15 2AA
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Avida Properties Limited |
|
Year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Avida Properties Limited for the year ended 30 April 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie. This report is made solely to the Board of Directors of Avida Properties Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Avida Properties Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Avida Properties Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Avida Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Avida Properties Limited. You consider that Avida 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 financial statements of Avida 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 financial statements.
Maneely Mc Cann Chartered Accountants
Chartered Accountants
Aisling House
50 Stranmillis Embankment
Belfast
BT9 5FL
13 November 2024
Statement of Financial Position |
|
30 April 2024
Fixed assets
Current assets
Stocks |
698,777 |
687,940 |
Debtors |
5 |
30,000 |
32,452 |
Cash at bank and in hand |
241,691 |
585,814 |
|
--------- |
------------ |
|
970,468 |
1,306,206 |
|
|
|
|
Creditors: amounts falling due within one year |
6 |
922,890 |
1,253,189 |
|
--------- |
------------ |
Net current assets |
47,578 |
53,017 |
|
-------- |
-------- |
Total assets less current liabilities |
47,579 |
53,018 |
|
-------- |
-------- |
Net assets |
47,579 |
53,018 |
|
-------- |
-------- |
|
|
|
|
Capital and reserves
Called up share capital |
7 |
100 |
100 |
Profit and loss account |
47,479 |
52,918 |
|
-------- |
-------- |
Shareholders funds |
47,579 |
53,018 |
|
-------- |
-------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued) |
|
30 April 2024
These financial statements were approved by the
board of directors
and authorised for issue on
13 November 2024
, and are signed on behalf of the board by:
Company registration number:
07590471
Notes to the Financial Statements |
|
Year ended 30 April 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is First Floor, Templeback 10, Temple Back, Bristol, Somerset, BS1 6FL, England.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises site costs, associated professional fees, materials and, where applicable, direct labour costs and those overheads that have been incurred in relation to the development.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 May 2023 and 30 April 2024 |
1 |
|
---- |
Impairment |
|
At 1 May 2023 and 30 April 2024 |
– |
|
---- |
|
|
Carrying amount |
|
At 30 April 2024 |
1 |
|
---- |
At 30 April 2023 |
1 |
|
---- |
|
|
5.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Other debtors |
30,000 |
32,452 |
|
-------- |
-------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Social security and other taxes |
1,297 |
– |
Other creditors |
921,593 |
1,253,189 |
|
--------- |
------------ |
|
922,890 |
1,253,189 |
|
--------- |
------------ |
|
|
|
7.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
100 |
100 |
100 |
100 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
8.
Related party transactions
Transactions with related parties At the year end, the company owed £919,283 (2023: £1,219,283) to companies under common control. These amounts are included in other creditors due within one year. Interest of Nil (2023: Nil) has been charged in the year. During the year a company under common control wrote off amounts owed to it by the company totalling Nil (2022: Nil).
9.
Controlling party
The ultimate controlling party is
L. Wilson
by virtue of her holding of 100% of the company's issued share capital.