Caseware UK (AP4) 2024.0.164 2024.0.164 2024-10-312024-10-312023-11-01falseProperty development22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09257220 2023-11-01 2024-10-31 09257220 2022-11-01 2023-10-31 09257220 2024-10-31 09257220 2023-10-31 09257220 c:Director1 2023-11-01 2024-10-31 09257220 d:CurrentFinancialInstruments 2024-10-31 09257220 d:CurrentFinancialInstruments 2023-10-31 09257220 d:Non-currentFinancialInstruments 2024-10-31 09257220 d:Non-currentFinancialInstruments 2023-10-31 09257220 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 09257220 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 09257220 d:Non-currentFinancialInstruments d:AfterOneYear 2024-10-31 09257220 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 09257220 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-10-31 09257220 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-10-31 09257220 d:ShareCapital 2024-10-31 09257220 d:ShareCapital 2023-10-31 09257220 d:RetainedEarningsAccumulatedLosses 2024-10-31 09257220 d:RetainedEarningsAccumulatedLosses 2023-10-31 09257220 c:FRS102 2023-11-01 2024-10-31 09257220 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 09257220 c:FullAccounts 2023-11-01 2024-10-31 09257220 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 09257220 e:PoundSterling 2023-11-01 2024-10-31 iso4217:GBP xbrli:pure
Registered number: 09257220






OLD AVENUE NO.1 LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










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OLD AVENUE NO.1 LIMITED
REGISTERED NUMBER:09257220

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
 4 
24,879,421
30,622,794

Debtors: amounts falling due within one year
 5 
-
19,113

Cash at bank and in hand
 6 
-
43,266

  
24,879,421
30,685,173

Creditors: amounts falling due within one year
 7 
(23,195,459)
(27,129,854)

Net current assets
  
 
 
1,683,962
 
 
3,555,319

Total assets less current liabilities
  
1,683,962
3,555,319

Creditors: amounts falling due after more than one year
 8 
-
(520,177)

  

Net assets
  
1,683,962
3,035,142


Capital and reserves
  

Called up share capital 
  
3,096,269
3,096,269

Profit and loss account
  
(1,412,307)
(61,127)

  
1,683,962
3,035,142


Page 1

 
OLD AVENUE NO.1 LIMITED
REGISTERED NUMBER:09257220
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R S Anderson
Director

Date: 25 July 2025

Page 2

 
OLD AVENUE NO.1 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Old Avenue No.1 Limited is a private company limited by shares incorporated in England and Wales. Its registered office is Millhouse, 32-38 East Street, Rochford, Essex, SS4 1DB.
The principal activity of the company continued to be that of property development.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Borrowing costs

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.

 
2.4

Stocks

Land and property held for development and sale are stated at the lower of cost and estimated selling price less any further costs to be incurred to completion and disposal. Cost is defined as actual purchase price plus development expenditure and related borrowing costs.
At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Page 3

 
OLD AVENUE NO.1 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Stocks

2024
2023
£
£

Work in progress (goods to be sold)
-
30,622,794

Finished goods and goods for resale
24,879,421
-

24,879,421
30,622,794


The carrying amount of inventories includes capitalised interest of £5,960,511 (2023: £5,276,430).


5.


Debtors

2024
2023
£
£


Other debtors
-
19,113

-
19,113


Page 4

 
OLD AVENUE NO.1 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
-
43,266

Less: bank overdrafts
(16,389)
-

(16,389)
43,266



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
16,389
-

Other loans
22,537,781
21,611,284

Trade creditors
475,979
665,507

Other creditors
162,910
4,850,663

Accruals and deferred income
2,400
2,400

23,195,459
27,129,854


There is a fixed and floating charge over the freehold property which is held for development and sale by the company.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
-
520,177

-
520,177


There is a fixed and floating charge over the freehold property which is held for development and sale by the company.

Page 5

 
OLD AVENUE NO.1 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Other loans
22,537,781
21,611,284


Amounts falling due 2-5 years

Other loans
-
520,177


22,537,781
22,131,461


 
Page 6