REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
AVF London Holdings Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
AVF London Holdings Ltd |
AVF London Holdings Ltd (Registered number: 11959323) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
AVF London Holdings Ltd |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
67 Westow Street |
London |
SE19 3RW |
AVF London Holdings Ltd (Registered number: 11959323) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Share premium | 11 |
Retained earnings | 11 | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
AVF London Holdings Ltd (Registered number: 11959323) |
Balance Sheet - continued |
31 March 2024 |
The financial statements were approved by the director and authorised for issue on |
AVF London Holdings Ltd (Registered number: 11959323) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
AVF London Holdings Ltd is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention as modified by the recognition of certain financial assets and liabilities measured at fair value. |
Turnover |
Turnover represents rents receivable. |
Investment property |
Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure. Investment properties are measured at fair value. The surplus or deficit arising on the revaluation of investment properties at their fair values are recognised in the income statement. |
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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
AVF London Holdings Ltd (Registered number: 11959323) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
The investment property is valued annually by the directors on an open market existing use basis. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans |
First legal mortgage charge over the freehold properties of AVF London Holdings Ltd. |
AVF London Holdings Ltd (Registered number: 11959323) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.24 | 31.3.23 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
11. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 1 April 2023 | ( |
) | 4,604,461 |
Profit for the year |
At 31 March 2024 | 4,727,570 |
12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023: |
31.3.24 | 31.3.23 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
The overdrawn director's current account has been repaid in full. |
13. | RELATED PARTY DISCLOSURES |
Mr A F Adil, the director of the company, is also the director of AVF Construction Ltd, AVF Developments (Orpington) Ltd, AVF Developments (Chislehurst) Ltd, AVF Developments (Crystal Palace) Ltd, AVF Developments (Bromley) Ltd, AVF Developments (Bourne Way) Ltd and AVF Developments (Greenwich) Ltd which are all registered in England. |
Included within other debtors are loans due from related parties of £2,611,284 (2023 - £1,737,845). Included within other creditors are loans due to related parties of £0 (2023 - £152,644). These loans are interest free and are repayable on demand. |