Company Registration No. 07420257 (England and Wales)
Aviary Property Ltd
Unaudited accounts
for the period from 1 April 2022 to 30 September 2023
Aviary Property Ltd
Unaudited accounts
Contents
Aviary Property Ltd
Company Information
for the period from 1 April 2022 to 30 September 2023
Directors
James Bird
Rachel Bird
Company Number
07420257 (England and Wales)
Registered Office
41 Allerton Road
Stoke Newington
London
N16 5UF
Accountants
Premium Accounting Services Limited
A4-55 Peel Road, Harrow
Harrow
Middlesex
HA3 7QT
Aviary Property Ltd
Statement of financial position
as at 30 September 2023
Tangible assets
1,784
1,421
Cash at bank and in hand
1,972
11,669
Creditors: amounts falling due within one year
(663,479)
(645,545)
Net current liabilities
(217,136)
(212,930)
Net liabilities
(153,320)
(149,477)
Called up share capital
100
100
Profit and loss account
(153,420)
(149,577)
Shareholders' funds
(153,320)
(149,477)
For the period ending 30 September 2023 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2024 and were signed on its behalf by
James Bird
Director
Company Registration No. 07420257
Aviary Property Ltd
Notes to the Accounts
for the period from 1 April 2022 to 30 September 2023
Aviary Property Ltd is a private company, limited by shares, registered in England and Wales, registration number 07420257. The registered office is 41 Allerton Road, Stoke Newington, London, N16 5UF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Furniture, fixtures and equipment - 25% straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
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.
Aviary Property Ltd
Notes to the Accounts
for the period from 1 April 2022 to 30 September 2023
These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company during this uncertain period.
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 or 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.
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any value being recognised in profit or loss.
Aviary Property Ltd
Notes to the Accounts
for the period from 1 April 2022 to 30 September 2023
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.
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 are largely independent of the cash inflows from other assets or groups of assets.
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Tangible fixed assets
Fixtures & fittings
At 30 September 2023
5,992
At 30 September 2023
4,208
At 30 September 2023
1,784
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Investments
Other investments
Valuation at 1 April 2022
62,032
Valuation at 30 September 2023
62,032
Amounts falling due within one year
Amounts due from group undertakings etc.
18,503
124,529
Other debtors
425,868
293,350
Aviary Property Ltd
Notes to the Accounts
for the period from 1 April 2022 to 30 September 2023
7
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
-
203
Other creditors
377,160
294,370
Loans from directors
280,319
340,567
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Average number of employees
During the period the average number of employees was 2 (2022: 2).