Registered number
05581833
Avenue Property Construction Limited
Filleted Accounts
31 October 2024
Avenue Property Construction Limited
Registered number: 05581833
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1,091 1,091
Tangible assets 4 36,221 45,262
37,312 46,353
Current assets
Stocks 7,895 7,895
Debtors 5 - 77,000
Investments held as current assets 6 1,000,000 62,800
Cash at bank and in hand 1,169,408 1,480,747
2,177,303 1,628,442
Creditors: amounts falling due within one year 7 (380,582) (270,417)
Net current assets 1,796,721 1,358,025
Net assets 1,834,033 1,404,378
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,833,933 1,404,278
Shareholders' funds 1,834,033 1,404,378
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mohammed Tafozzul Hussain
Director
Approved by the board on 4 March 2025
Avenue Property Construction Limited
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 14 14
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2023 1,091
At 31 October 2024 1,091
Amortisation
At 31 October 2024 -
Net book value
At 31 October 2024 1,091
At 31 October 2023 1,091
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2023 9,082 177,491 186,573
Additions 3,032 - 3,032
At 31 October 2024 12,114 177,491 189,605
Depreciation
At 1 November 2023 8,099 133,212 141,311
Charge for the year 1,004 11,069 12,073
At 31 October 2024 9,103 144,281 153,384
Net book value
At 31 October 2024 3,011 33,210 36,221
At 31 October 2023 983 44,279 45,262
5 Debtors 2024 2023
£ £
Trade debtors - 77,000
6 Investments held as current assets 2024 2023
£ £
Fair value
Listed investments 1,000,000 62,800
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 120,846 42,944
Taxation and social security costs 244,060 212,473
Other creditors 15,676 15,000
380,582 270,417
8 Other information
Avenue Property Construction Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 12/3a
10-15 Tiler Road
London
E14 8PX
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