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REGISTERED NUMBER: 13358149 (England and Wales)

















AVA Property Management Ltd

Financial Statements

for the Year Ended 30 April 2024






AVA Property Management Ltd (Registered number: 13358149)

Contents of the Financial Statements
for the year ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AVA Property Management Ltd

Company Information
for the year ended 30 April 2024







DIRECTOR: G R Lord





REGISTERED OFFICE: 24 Cornwall Road
Dorchester
Dorset
DT1 1RX





REGISTERED NUMBER: 13358149 (England and Wales)





ACCOUNTANTS: Read Woodruff
Chartered Accountants
24 Cornwall Road
Dorchester
Dorset
DT1 1RX

AVA Property Management Ltd (Registered number: 13358149)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,422 4,644
Investment property 5 825,000 805,000
829,422 809,644

CURRENT ASSETS
Debtors 6 1,001 685
Cash at bank 6,726 12,849
7,727 13,534
CREDITORS
Amounts falling due within one year 7 221,663 227,705
NET CURRENT LIABILITIES (213,936 ) (214,171 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

615,486

595,473

CREDITORS
Amounts falling due after more than one
year

8

(557,713

)

(557,713

)

PROVISIONS FOR LIABILITIES 10 (10,294 ) (6,348 )
NET ASSETS 47,479 31,412

CAPITAL AND RESERVES
Called up share capital 100 100
Undistributable reserves 11 43,967 27,767
Retained earnings 3,412 3,545
47,479 31,412

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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 January 2025 and were signed by:





G R Lord - Director


AVA Property Management Ltd (Registered number: 13358149)

Notes to the Financial Statements
for the year ended 30 April 2024


1. STATUTORY INFORMATION

AVA Property Management Ltd 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.

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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 15% on reducing balance
Motor vehicles - 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 Income Statement, 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.

Undistributable reserves
Whilst fair value gains on investment property are taken to the profit and loss account, they are not distributable as dividend to shareholders because the gain is unrealised. The company therefore adopts the policy of transferring the fair value adjustment net/inclusive of the deferred tax charge/credit to a separate account, 'undistributable reserves'.

3. EMPLOYEES AND DIRECTORS

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

AVA Property Management Ltd (Registered number: 13358149)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


4. TANGIBLE FIXED ASSETS
Office Motor
equipment vehicles Totals
£    £    £   
COST
At 1 May 2023 200 8,000 8,200
Additions 999 - 999
At 30 April 2024 1,199 8,000 9,199
DEPRECIATION
At 1 May 2023 56 3,500 3,556
Charge for year 96 1,125 1,221
At 30 April 2024 152 4,625 4,777
NET BOOK VALUE
At 30 April 2024 1,047 3,375 4,422
At 30 April 2023 144 4,500 4,644

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 805,000
Revaluations 20,000
At 30 April 2024 825,000
NET BOOK VALUE
At 30 April 2024 825,000
At 30 April 2023 805,000

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2022 13,077
Valuation in 2023 21,203
Valuation in 2024 20,000
Cost 770,720
825,000

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

2024 2023
£    £   
Cost 770,720 770,720

Investment property was valued on a fair value basis on 30 April 2024 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments and accrued income 1,001 685

AVA Property Management Ltd (Registered number: 13358149)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 140
UK corporation tax 57 1,487
Other creditors 154,436 154,436
Directors' current accounts 65,851 70,323
Accruals and deferred income 1,319 1,319
221,663 227,705

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 557,713 557,713

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 557,713 557,713

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 557,713 557,713

Mortgages are secured by legal charges over the company's investment properties.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances (19 ) (165 )
Capital gains on investment property 10,313 6,513
10,294 6,348

Deferred
tax
£   
Balance at 1 May 2023 6,348
Charge to Income Statement during year 3,946
Balance at 30 April 2024 10,294

11. RESERVES
Undistributable
reserves
£   
At 1 May 2023 27,767
Transfer unrealised gain/loss on investment
property to undistributable reserves

16,200


At 30 April 2024 43,967

Undistributable reserves represent the unrealised gains on carrying investment property at fair value less the deferred tax provision thereon; being unrealised, such amounts are not available to be distributed as dividend to shareholders.