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REGISTERED NUMBER: 02818449 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

AVERY MAGNAY ESTATES LIMITED

AVERY MAGNAY ESTATES LIMITED (REGISTERED NUMBER: 02818449)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AVERY MAGNAY ESTATES LIMITED

COMPANY INFORMATION
for the Year Ended 30 April 2024







DIRECTOR: Mr M J Tangye





SECRETARY: Mrs C M Tangye





REGISTERED OFFICE: Audley House
Northridge Road
Berkhamstead
Hertfordshire
HP4 1EH





REGISTERED NUMBER: 02818449 (England and Wales)





ACCOUNTANTS: Chartswood Limited
Chartered Certified Accountants
6b Parkway
Porters Wood
St Albans
Hertfordshire
AL3 6PA

AVERY MAGNAY ESTATES LIMITED (REGISTERED NUMBER: 02818449)

BALANCE SHEET
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 501,724 502,104

CURRENT ASSETS
Debtors 5 1,746 4,288
Cash at bank 105,835 113,953
107,581 118,241
CREDITORS
Amounts falling due within one year 6 14,499 12,152
NET CURRENT ASSETS 93,082 106,089
TOTAL ASSETS LESS CURRENT
LIABILITIES

594,806

608,193

CREDITORS
Amounts falling due after more than one
year

7

(275,000

)

(300,000

)

PROVISIONS FOR LIABILITIES 8 (328 ) (400 )
NET ASSETS 319,478 307,793

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Revaluation reserve 10 364,175 364,175
Retained earnings 10 (45,697 ) (57,382 )
SHAREHOLDERS' FUNDS 319,478 307,793

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

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.

AVERY MAGNAY ESTATES LIMITED (REGISTERED NUMBER: 02818449)

BALANCE SHEET - continued
30 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 January 2025 and were signed by:





Mr M J Tangye - Director


AVERY MAGNAY ESTATES LIMITED (REGISTERED NUMBER: 02818449)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Avery Magnay Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office furniture and equipment - 15% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


AVERY MAGNAY ESTATES LIMITED (REGISTERED NUMBER: 02818449)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Office
furniture
Freehold and Computer
property equipment equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 May 2023
and 30 April 2024 500,000 13,903 5,782 519,685
DEPRECIATION
At 1 May 2023 - 12,447 5,134 17,581
Charge for year - 218 162 380
At 30 April 2024 - 12,665 5,296 17,961
NET BOOK VALUE
At 30 April 2024 500,000 1,238 486 501,724
At 30 April 2023 500,000 1,456 648 502,104

AVERY MAGNAY ESTATES LIMITED (REGISTERED NUMBER: 02818449)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 April 2024 is represented by:

Office
furniture
Freehold and Computer
property equipment equipment Totals
£    £    £    £   
Valuation in 2000 124,175 - - 124,175
Valuation in 2003 20,000 - - 20,000
Valuation in 2004 30,000 - - 30,000
Valuation in 2006 65,000 - - 65,000
Valuation in 2007 25,000 - - 25,000
Valuation in 2013 100,000 - - 100,000
Cost 135,825 13,903 5,782 155,510
500,000 13,903 5,782 519,685

If freehold property had not been revalued it would have been included at the following historical cost:

30.4.24 30.4.23
£    £   
Cost 135,825 135,825

Freehold land and buildings were valued on an open market basis on 30 April 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors 1,123 1,123
Prepayments 623 3,165
1,746 4,288

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Taxation 2,628 -
Other creditors 380 380
Directors' current accounts 9,931 10,212
Accruals and deferred income 1,560 1,560
14,499 12,152

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Directors' loan accounts 275,000 300,000

AVERY MAGNAY ESTATES LIMITED (REGISTERED NUMBER: 02818449)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024

8. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax
Accelerated capital allowances 328 400

Deferred
tax
£   
Balance at 1 May 2023 400
Credit to Statement of Income and Retained Earnings during year (72 )
Balance at 30 April 2024 328

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
1,000 Ordinary £1 1,000 1,000

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 May 2023 (57,382 ) 364,175 306,793
Profit for the year 11,685 11,685
At 30 April 2024 (45,697 ) 364,175 318,478