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AVENUE FLOORING LIMITED

Registered Number
07048150
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

AVENUE FLOORING LIMITED
Company Information
for the year from 1 November 2023 to 31 October 2024

Directors

HAMS, Aaron Eugene
QUINTON, Ben George
QUINTON, Lisa Marie Angela

Registered Address

Unit 2 Midas Metropolitan Estate
193 Garth Road
Morden
SM4 4NE

Registered Number

07048150 (England and Wales)
AVENUE FLOORING LIMITED
Statement of Financial Position
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets376,04050,075
76,04050,075
Current assets
Stocks4125,734210,673
Debtors5491,447368,928
Cash at bank and on hand275,705220,534
892,886800,135
Creditors amounts falling due within one year6(311,992)(388,772)
Net current assets (liabilities)580,894411,363
Total assets less current liabilities656,934461,438
Creditors amounts falling due after one year7(136,979)(57,870)
Provisions for liabilities9(19,010)(9,447)
Net assets500,945394,121
Capital and reserves
Called up share capital101101
Profit and loss account500,844394,020
Shareholders' funds500,945394,121
The financial statements were approved and authorised for issue by the Board of Directors on 3 July 2025, and are signed on its behalf by:
QUINTON, Ben George
Director
Registered Company No. 07048150
AVENUE FLOORING LIMITED
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Vehicles25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year44
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 November 237,81083,5436,7338,851106,937
Additions-51,980-39952,379
Disposals-(6,000)--(6,000)
At 31 October 247,810129,5236,7339,250153,316
Depreciation and impairment
At 01 November 237,10942,1064,9532,69456,862
Charge for year17523,0874451,63925,346
On disposals-(4,932)--(4,932)
At 31 October 247,28460,2615,3984,33377,276
Net book value
At 31 October 2452669,2621,3354,91776,040
At 31 October 2370141,4371,7806,15750,075
4.Stocks

2024

2023

££
Raw materials and consumables2,0001,000
Work in progress123,734209,673
Total125,734210,673
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables279,001307,501
Other debtors207,51655,649
Prepayments and accrued income4,9305,778
Total491,447368,928
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables178,784257,489
Bank borrowings and overdrafts31,0129,939
Taxation and social security74,57288,259
Finance lease and HP contracts12,79312,793
Other creditors12,13517,542
Accrued liabilities and deferred income2,6962,750
Total311,992388,772
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts111,39319,491
Other creditors25,58638,379
Total136,97957,870
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts25,58638,380
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)19,0109,447
Total19,0109,447
10.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
HAMS, Aaron Eugene04,65704,657
QUINTON, Lisa Marie Angela05,12005,120
09,77709,777
The directors will repay their loan balance within 9 months of the balance sheet date.
11.Related party transactions
At the balance sheet date, an amount of £126,120 is owed by Avenue Commercial Ltd, which is the parent company and owns 100% ordinary A shares in Avenue Flooring Ltd.
12.Controlling party
The ultimate controlling party is the parent company Avenue Commercial Ltd, which owns 100% ordinary A shares in the company.