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REGISTERED NUMBER: 07660951 (England and Wales)


















Financial Statements for the Year Ended 30 June 2024

for

AVENUE DIRECT LIMITED

AVENUE DIRECT LIMITED (REGISTERED NUMBER: 07660951)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


AVENUE DIRECT LIMITED

Company Information
for the Year Ended 30 June 2024







DIRECTORS: C Johnson
A Johnson





SECRETARY: A Johnson





REGISTERED OFFICE: Chequers Barn
Chequers Hill
Bough Beech
Edenbridge
Kent
TN8 7PD





REGISTERED NUMBER: 07660951 (England and Wales)





ACCOUNTANTS: BDA Associates Limited
Chartered Accountants
Global House
1 Ashley Avenue
Epsom
Surrey
KT18 5AD

AVENUE DIRECT LIMITED (REGISTERED NUMBER: 07660951)

Statement of Financial Position
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 100 100

CURRENT ASSETS
Stocks 856,761 856,920
Debtors 5 120,982 121,061
Cash at bank 3,361 214
981,104 978,195
CREDITORS
Amounts falling due within one year 6 3,501 5,796
NET CURRENT ASSETS 977,603 972,399
TOTAL ASSETS LESS CURRENT
LIABILITIES

977,703

972,499

CREDITORS
Amounts falling due after more than one
year

7

988,710

987,310
NET LIABILITIES (11,007 ) (14,811 )

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings (11,009 ) (14,813 )
SHAREHOLDERS' FUNDS (11,007 ) (14,811 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

AVENUE DIRECT LIMITED (REGISTERED NUMBER: 07660951)

Statement of Financial Position - continued
30 June 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 March 2025 and were signed on its behalf by:




C Johnson - Director



A Johnson - Director


AVENUE DIRECT LIMITED (REGISTERED NUMBER: 07660951)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Avenue Direct 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.

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

Stocks
Work in progress consists of property & land under or awaiting construction or refurbishment and is valued at the lower of cost and net realisable value.

This comprises purchase of property and land, direct and sub contractor labour and capitalised interest on associated borrowings up until completion of the properties.Net realisable value represents the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
The Directors have reviewed forecasts and budgets for the coming year which have been drawn up with appropriate regard for the current economic environment and particular circumstances in which the Company operates. These were prepared with reference to historical and current industry knowledge.

The Company does not operate an overdraft facility but borrows from lenders towards land purchase and utilises Director's loans to fund the remaining balance of site purchases and development costs. This ensures that there is sufficient funding available for the financing and completion of the developments.

Based on these assessments and having regard to resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements. The Directors consider that the company will have sufficient resources and will to continue to support the company in its operational existence for the foreseeable future.

AVENUE DIRECT LIMITED (REGISTERED NUMBER: 07660951)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2023
and 30 June 2024 100
NET BOOK VALUE
At 30 June 2024 100
At 30 June 2023 100

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 119,000 120,000
VAT 1,348 1,061
Prepayments 634 -
120,982 121,061

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other loans 1,500 1,500
Trade creditors - 2,296
Accruals and deferred income 2,001 2,000
3,501 5,796

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans more 5 yrs non-inst 555,861 555,861
Directors' loan accounts 432,849 431,449
988,710 987,310

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 555,861 555,861

AVENUE DIRECT LIMITED (REGISTERED NUMBER: 07660951)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank Loan 555,861 555,861

The bank loan is secured by way of a legal charge over the freehold property and land at Queens Gardens Tunbridge Wells together with a floating charge over the assets of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
2 Ordinary £1.00 2 2