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Registration number: 01828626

Aventure Intl Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Aventure Intl Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Aventure Intl Limited

Company Information

Directors

Mr Jonathan Sullivan

Mr Duane Sullivan

Registered office

Radiant House
Hainault Business Park
Ilford
Essex
IG6 3UT

Accountants

The Stuart Maurice Partnership
Teknov8 House
24-26 Fowler Road
Ilford
Essex
IG6 3UT

 

Aventure Intl Limited

(Registration number: 01828626)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

49,424

59,567

Investment property

5

16,512,497

16,512,497

 

16,561,921

16,572,064

Current assets

 

Stocks

6

13,672

11,894

Debtors

7

1,227,832

1,044,716

Cash at bank and in hand

 

36,239

144,807

 

1,277,743

1,201,417

Creditors: Amounts falling due within one year

8

(144,977)

(317,981)

Net current assets

 

1,132,766

883,436

Total assets less current liabilities

 

17,694,687

17,455,500

Creditors: Amounts falling due after more than one year

8

(6,750,122)

(6,590,950)

Provisions for liabilities

(1,442,105)

(1,442,105)

Net assets

 

9,502,460

9,422,445

Capital and reserves

 

Called up share capital

9

50,000

50,000

Capital redemption reserve

(6,164,744)

(6,164,744)

Revaluation reserve

6,164,744

6,164,744

Other reserves

3,552,470

3,552,470

Retained earnings

5,899,990

5,819,975

Shareholders' funds

 

9,502,460

9,422,445

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Aventure Intl Limited

(Registration number: 01828626)
Balance Sheet as at 30 June 2024

Approved and authorised by the Board on 24 March 2025 and signed on its behalf by:
 

.........................................
Mr Jonathan Sullivan
Director

 

Aventure Intl Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Radiant House
Hainault Business Park
Ilford
Essex
IG6 3UT
England

These financial statements were authorised for issue by the Board on 24 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Aventure Intl Limited

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

tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Fixtures and fittings

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Aventure Intl Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

The provision for deferred taxation is made up by the tax due on the realisation of the revaluation of investment properties.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

 

Aventure Intl Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

86,527

74,007

160,534

Additions

6,332

-

6,332

At 30 June 2024

92,859

74,007

166,866

Depreciation

At 1 July 2023

55,085

45,882

100,967

Charge for the year

9,444

7,031

16,475

At 30 June 2024

64,529

52,913

117,442

Carrying amount

At 30 June 2024

28,330

21,094

49,424

At 30 June 2023

31,442

28,125

59,567

5

Investment properties

2024
£

At 1 July

16,512,497

At 30 June

16,512,497

The properties were valued by a licensed valuation professional

6

Stocks

2024
£

2023
£

Other inventories

13,672

11,894

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

258,182

209,884

Amounts owed by related parties

12

785,082

766,832

Other debtors

 

184,568

68,000

   

1,227,832

1,044,716

 

Aventure Intl Limited

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

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

105,854

305,774

Taxation and social security

30,693

27,311

Other creditors

8,430

(15,104)

144,977

317,981

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

6,269,698

6,129,378

Other non-current financial liabilities

 

480,424

461,572

 

6,750,122

6,590,950

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

50,000

50,000

50,000

50,000

       

10

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

 

Aventure Intl Limited

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

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

6,269,698

6,129,378

12

Related party transactions

Global Intl Ltd.

Both companies have the same directors.
At year end £785,082 was owed by Global Intl Ltd.

 

Aventure Intl Limited

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

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

41,819

37,756

Summary of transactions with entities with joint control or significant interest

Global Intl Ltd.

Both companies have the same directors.

 Inter company transactions include purchases and sales.
 

Income and receivables from related parties

2024

Entities with joint control or significant influence
£

Receipt of services

93,120

2023

Entities with joint control or significant influence
£

Receipt of services

24,328