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Registered number: 12331774
AVOCADO CONSTRUCTION LTD
Unaudited Financial Statements
For The Year Ended 30 November 2024
PATRICK JAMES AND CO (SW) LTD
CPAA
ROOM G2, MOUNT WISE HOUSE
I DISCOVERY ROAD
MOUNT WISE, PLYMOUTH
DEVON
PL1 4QU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12331774
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 35,632 40,151
35,632 40,151
CURRENT ASSETS
Stocks 5 55,611 25,779
Debtors 6 17,091 20,614
Cash at bank and in hand 70,598 54,688
143,300 101,081
Creditors: Amounts Falling Due Within One Year 7 (109,871 ) (86,317 )
NET CURRENT ASSETS (LIABILITIES) 33,429 14,764
TOTAL ASSETS LESS CURRENT LIABILITIES 69,061 54,915
Creditors: Amounts Falling Due After More Than One Year 8 - (5,000 )
NET ASSETS 69,061 49,915
CAPITAL AND RESERVES
Called up share capital 9 40 40
Profit and Loss Account 69,021 49,875
SHAREHOLDERS' FUNDS 69,061 49,915
Page 1
Page 2
For the year ending 30 November 2024 the company was entitled to exemption from audit 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.
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 AARON BEECHER
Director
23/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
AVOCADO CONSTRUCTION LTD is a private company, limited by shares, incorporated in England & Wales, registered number 12331774 . The registered office is 85 BLACKSTONE CLOSE, ELBURTON, PLYMOUTH, DEVON, PL9 8UW.
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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 over their expected useful lives on the following bases:
Tools and Equipment 3 Yrs Straight Line
Vehicles and Construction Plant 10 Yrs Straight Line
Computer Equipment 3 Yrs Straight Line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 6)
7 6
4. Tangible Assets
Tools and Equipment Vehicles and Construction Plant Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2023 12,686 45,830 1,218 59,734
Additions 7,237 14,053 - 21,290
Disposals - (24,670 ) - (24,670 )
As at 30 November 2024 19,923 35,213 1,218 56,354
Depreciation
As at 1 December 2023 8,448 10,017 1,118 19,583
Provided during the period 4,919 3,521 100 8,540
Disposals - (7,401 ) - (7,401 )
As at 30 November 2024 13,367 6,137 1,218 20,722
Net Book Value
As at 30 November 2024 6,556 29,076 - 35,632
As at 1 December 2023 4,238 35,813 100 40,151
5. Stocks
2024 2023
£ £
Work in progress 55,611 25,779
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 9,469 15,502
Prepayments and accrued income 3,944 -
Other debtors 756 -
VAT 2,922 5,112
17,091 20,614
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 47,167 22,844
Bank loans and overdrafts 2,383 9,304
Corporation tax 22,451 9,054
Other taxes and social security 1,971 2,412
Other creditors 2,251 10,259
Directors' loan accounts 33,648 32,444
109,871 86,317
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Directors loan account - 5,000
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 40 40
10. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 50,000 50,000
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