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REGISTERED NUMBER: 05126118 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

AVALON PROPERTY DEVELOPMENTS LIMITED

AVALON PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05126118)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


AVALON PROPERTY DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: K Lansdale
M P Hewitt





SECRETARY: K Lansdale





REGISTERED OFFICE: The Banks
Cobden Edge
Mellor
Stockport
Cheshire
SK6 5ND





REGISTERED NUMBER: 05126118 (England and Wales)





ACCOUNTANTS: Allens Accountants Limited
Chartered Accountants
123 Wellington Road South
Stockport
Cheshire
SK1 3TH

AVALON PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05126118)

BALANCE SHEET
31 MAY 2024

31/5/24 31/5/23
Notes £    £   
CURRENT ASSETS
Stocks 1,183,495 1,139,613
Debtors 4 1,649 1,185
Cash at bank 7 1,057
1,185,151 1,141,855
CREDITORS
Amounts falling due within one year 5 1,565,709 1,515,841
NET CURRENT LIABILITIES (380,558 ) (373,986 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(380,558

)

(373,986

)

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings (381,558 ) (374,986 )
SHAREHOLDERS' FUNDS (380,558 ) (373,986 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 February 2025 and were signed on its behalf by:





K Lansdale - Director


AVALON PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05126118)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Avalon Property Developments 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.

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Going concern
At the balance sheet date the company has negative shareholders' funds. However included within the liabilities of the company are directors loans totalling £1,318,357 Historically the company has met its day to day working capital requirements through financial assistance provided by the directors and they have indicated that they will continue to provide the required financial support and have no intention of withdrawing this support until the company has sufficient funds and reserves. Furthermore the market value of the development property held in stock at the balance sheet date is considered to be well in excess of its carrying value. On this basis the directors consider it is appropriate to prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Other debtors 1,649 1,185

AVALON PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05126118)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Bank loans and overdrafts - 125,400
Trade creditors 3,564 70,994
Other creditors 1,562,145 1,319,447
1,565,709 1,515,841

6. SECURED DEBTS

The following secured debts are included within creditors:

31/5/24 31/5/23
£    £   
Bank loans - 125,400

The bank loan is secured on the land at Albert Road, Bollington.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/5/24 31/5/23
value: £    £   
1,000 Ordinary £1 1,000 1,000