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REGISTERED NUMBER: 10287443 (England and Wales)















Financial Statements for the Year Ended 31 July 2024

for

8 Churchill Avenue Limited

8 Churchill Avenue Limited (Registered number: 10287443)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


8 Churchill Avenue Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: J Abu
G Wood





REGISTERED OFFICE: Reuben House
Allen Street
Hucknall
Nottingham
Nottinghamshire
NG15 7DS





REGISTERED NUMBER: 10287443 (England and Wales)





ACCOUNTANTS: Tawse & Partners
Chartered Accountants
18 North Silver Street
Aberdeen
AB10 1JU

8 Churchill Avenue Limited (Registered number: 10287443)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Investment property 5 445,000 340,000

CURRENT ASSETS
Debtors 6 12,103 7,158
Cash at bank 862 5,173
12,965 12,331
CREDITORS
Amounts falling due within one year 7 65,702 67,770
NET CURRENT LIABILITIES (52,737 ) (55,439 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

392,263

284,561

CREDITORS
Amounts falling due after more than one
year

8

(66,915

)

(66,704

)

PROVISIONS FOR LIABILITIES (26,704 ) -
NET ASSETS 298,644 217,857

CAPITAL AND RESERVES
Called up share capital 177,472 177,472
Fair value reserve 10 113,840 35,544
Retained earnings 10 7,332 4,841
298,644 217,857

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

8 Churchill Avenue Limited (Registered number: 10287443)

Balance Sheet - continued
31 July 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 7 May 2025 and were signed on its behalf by:





G Wood - Director


8 Churchill Avenue Limited (Registered number: 10287443)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

8 Churchill Avenue 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 as modified by the revaluation of certain assets.

Turnover and other income recognition
Turnover is measured at fair value of the consideration received or receivable net of VAT and discounts. The policies adopted for the recognition of turnover are as follows:

Rental Property
Rental income is recognised based on monthly rental periods, in accordance with property rental agreements.

Interest receivable
Interest income is recognised using the effective interest method.

Investment property
Investment property for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in the Income Statement. Deferred tax is provided on any gains at the rate expected to apply when the property is sold.

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.

Debtor and creditors receivable / payable within one year
Debtor and creditors with no stated interest rate and receivable or payable within one year are recorded at transition price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

8 Churchill Avenue Limited (Registered number: 10287443)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

3. ACCOUNTING POLICIES - continued

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indiction exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

4. EMPLOYEES AND DIRECTORS

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 340,000
Revaluations 105,000
At 31 July 2024 445,000
NET BOOK VALUE
At 31 July 2024 445,000
At 31 July 2023 340,000

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2018 11,860
Valuation in 2019 18,684
Valuation in 2021 35,963
Valuation in 2022 34,037
Valuation in 2023 (65,000 )
Valuation in 2024 105,000
Cost 304,456
445,000

If the investment properties had not been revalued it would have been included at the following historical cost:

31.7.24 31.7.23
£    £   
Cost 304,456 304,456

Investment Property was valued on an open market basis on 31 July 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Amounts owed by group undertakings 7,413 2,383
Other debtors 4,690 4,775
12,103 7,158

8 Churchill Avenue Limited (Registered number: 10287443)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 23,560 26,678
Taxation and social security - 319
Other creditors 42,142 40,773
65,702 67,770

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans 66,915 66,704

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 66,915 66,704

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans 66,915 66,704

The secured debt is a mortgage charge over the property 308 Arnold Road, Nottingham, NG5 5 HB.

8 Churchill Avenue Limited (Registered number: 10287443)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

10. RESERVES


Property 1

Retained
earnings
Fair value
reserve

Totals
£££
At 1 August 2023(15,877)20,7354,858
(15,887)20,7354,858

Profit/(Loss) for the year4,5581104,668
At 31 July 2024(11,319)20,8459,526

Property 2

Retained
earnings
Fair value
reserve

Totals
£££
At 1 August 202320,71814,80935,527
20,71814,80935,527

Profit/(Loss) for the year(2,067)78,18676,119
At 31 July 202418,65192,995111,646




Total7,332113,840121,172