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REGISTERED NUMBER: 01102944 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

FIRST AVENUE SECURITIES LIMITED

FIRST AVENUE SECURITIES LIMITED (REGISTERED NUMBER: 01102944)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FIRST AVENUE SECURITIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr I Gluck
Mrs H Gluck
Mrs F Gluck
Mr C Gluck





SECRETARY: Mr I Gluck





REGISTERED OFFICE: 105 Eade Road
OCC Building A
2nd Floor Unit 11D
London
N4 1TJ





REGISTERED NUMBER: 01102944 (England and Wales)





ACCOUNTANTS: DAS Accounting & Partners (UK) LLP
105 Eade Road
OCC Building A
2nd Floor Unit 11D
London
N4 1TJ

FIRST AVENUE SECURITIES LIMITED (REGISTERED NUMBER: 01102944)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 - 600,293

CURRENT ASSETS
Debtors 6 19,631 -
Cash at bank 4,390 36,613
24,021 36,613
CREDITORS
Amounts falling due within one year 7 (24,019 ) (29,846 )
NET CURRENT ASSETS 2 6,767
TOTAL ASSETS LESS CURRENT
LIABILITIES

2

607,060

PROVISIONS FOR LIABILITIES 8 - (142,000 )
NET ASSETS 2 465,060

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings - 465,058
SHAREHOLDERS' FUNDS 2 465,060

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2025 and were signed on its behalf by:



Mr I Gluck - Director


FIRST AVENUE SECURITIES LIMITED (REGISTERED NUMBER: 01102944)

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

1. STATUTORY INFORMATION

First Avenue Securities 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention except that investment property is measured at fair value through profit or loss.

Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The directors do not consider there are any critical judgments or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


FIRST AVENUE SECURITIES LIMITED (REGISTERED NUMBER: 01102944)

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

3. ACCOUNTING POLICIES - continued
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.

Fixed assets
Fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life

Fixtures and fittings - 25% reducing balance
Computer equipment - 25% 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.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 600,000 53,831 1,658 655,489
Disposals (600,000 ) (53,831 ) (1,658 ) (655,489 )
At 31 March 2024 - - - -
DEPRECIATION
At 1 April 2023 - 53,563 1,633 55,196
Eliminated on disposal - (53,563 ) (1,633 ) (55,196 )
At 31 March 2024 - - - -
NET BOOK VALUE
At 31 March 2024 - - - -
At 31 March 2023 600,000 268 25 600,293

As part of a group restructuring, the company transferred, at market value, all of its investment properties to fellow group undertakings.

FIRST AVENUE SECURITIES LIMITED (REGISTERED NUMBER: 01102944)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 19,631 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 206
Taxation - 2,269
Other creditors 24,019 27,371
24,019 29,846

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 142,000

Deferred
tax
£   
Balance at 1 April 2023 142,000
Movement during the year (142,000 )
Balance at 31 March 2024 -

The provision for deferred tax, relating to unrealised gains on investment properties, has been fully reversed following the transfer of the company's investment properties to fellow group undertakings.

9. RELATED PARTY DISCLOSURES

Other debtors of £19,631 (2023: £Nil) relates to an amount owed to a company which has directors in common with the company.

Other creditors of £24,019 (2023: £1,612) relates to an amount owed to a company which has directors in common with the company.

No transactions with related parties were undertaken, other than disclosed above and elsewhere in the financial statements, such as are required to be disclosed under FRS102.