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REGISTERED NUMBER: 12576391 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Ava Lily Property Ltd

Ava Lily Property Ltd (Registered number: 12576391)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Ava Lily Property Ltd (Registered number: 12576391)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,597 4,873
Investment property 5 430,000 391,714
449,597 396,587

CURRENT ASSETS
Debtors 6 1,268 250
Cash at bank 6,801 32,431
8,069 32,681
CREDITORS
Amounts falling due within one year 7 33,811 23,117
NET CURRENT (LIABILITIES)/ASSETS (25,742 ) 9,564
TOTAL ASSETS LESS CURRENT LIABILITIES 423,855 406,151

CREDITORS
Amounts falling due after more than one year 8 (433,500 ) (433,500 )

PROVISIONS FOR LIABILITIES (8,339 ) -
NET LIABILITIES (17,984 ) (27,349 )

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 10 25,018 -
Retained earnings (43,004 ) (27,351 )
(17,984 ) (27,349 )

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 directors acknowledge their 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 January 2025 and were signed on its behalf by:



Mrs K Allison - Director


Ava Lily Property Ltd (Registered number: 12576391)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Ava Lily Property Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12576391

Registered office: 23 Hollyhock Road
Saffron Walden
Essex
CB10 2AG

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.
Fixtures and fittings - 25% on reducing balance

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 Profit and Loss Account, 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 - 2 ) .

Ava Lily Property Ltd (Registered number: 12576391)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 May 2023 8,154
Additions 21,256
At 30 April 2024 29,410
DEPRECIATION
At 1 May 2023 3,281
Charge for year 6,532
At 30 April 2024 9,813
NET BOOK VALUE
At 30 April 2024 19,597
At 30 April 2023 4,873

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 391,714
Additions 4,929
Revaluations 33,357
At 30 April 2024 430,000
NET BOOK VALUE
At 30 April 2024 430,000
At 30 April 2023 391,714

The directors are of the opinion that the fair value of the investment properties at 30 April 2024 is £430,000.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 268 -
Other debtors 1,000 250
1,268 250

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 33,811 23,117

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 433,500 433,500

Ava Lily Property Ltd (Registered number: 12576391)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 273,500 273,500

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgages 273,500 273,500

United Trust Bank Limited and Onesavings Bank PLC both hold charges against the investment property their respective loans relate to.

10. RESERVES
Revaluation
reserve
£   
Revaluation of inv property 25,018

At 30 April 2024 25,018

11. OTHER FINANCIAL COMMITMENTS

Financial commitments not included in the balance sheet amount to £533,479. This represents the interest on two mortgages due to expire in 2047 and 2048.