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COMPANY REGISTRATION NUMBER: 02272780
Averian Properties Limited
Unaudited financial statements
28 February 2025
Averian Properties Limited
Statement of financial position
28 February 2025
2025
2024
Note
£
£
£
£
Fixed assets
Tangible assets
5
1,540,941
1,541,075
Current assets
Debtors
6
416,577
385,066
Cash at bank and in hand
103,338
237,540
---------
---------
519,915
622,606
Creditors: Amounts falling due within one year
7
( 4,783)
( 8,332)
---------
---------
Net current assets
515,132
614,274
-----------
-----------
Total assets less current liabilities
2,056,073
2,155,349
Creditors: Amounts falling due after more than one year
8
( 322,094)
( 422,094)
Provisions
Taxation including deferred tax
( 123,909)
( 123,943)
-----------
-----------
Net assets
1,610,070
1,609,312
-----------
-----------
Capital and reserves
Called up share capital
800
800
Revaluation reserve
561,061
561,061
Profit and loss account
1,048,209
1,047,451
-----------
-----------
Shareholders funds
1,610,070
1,609,312
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Averian Properties Limited
Statement of financial position (continued)
28 February 2025
These financial statements were approved by the board of directors and authorised for issue on 30 July 2025 , and are signed on behalf of the board by:
J E P Connolly
Director
Company registration number: 02272780
Averian Properties Limited
Notes to the financial statements
Year ended 28 February 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is First Floor Suite, 2 Hillside Business Park, Bury St Edmunds, Suffolk, IP32 7EA. The company's trading address during the year was Apartment 12, Old Post Office, The Thoroughfare, Bury St Edmunds, Suffolk, IP33 1DR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts. Rental income is recognised on an accruals basis.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and Fittings
-
20% straight line
Office Equipment
-
33% straight line
4. Employee numbers
The average number of employees during the year was 1 (2024: 1 ).
5. Tangible assets
Investment properties
Equipment
Total
£
£
£
Cost
At 1 March 2024
1,540,000
1,548
1,541,548
Additions
430
430
-----------
------
-----------
At 28 February 2025
1,540,000
1,978
1,541,978
-----------
------
-----------
Depreciation
At 1 March 2024
473
473
Charge for the year
564
564
-----------
------
-----------
At 28 February 2025
1,037
1,037
-----------
------
-----------
Carrying amount
At 28 February 2025
1,540,000
941
1,540,941
-----------
------
-----------
At 29 February 2024
1,540,000
1,075
1,541,075
-----------
------
-----------
The properties were revalued at 28 February 2025 by the director at their open market value.
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Investment properties
£
At 28 February 2025
Aggregate cost
855,265
Aggregate depreciation
---------
Carrying value
855,265
---------
At 29 February 2024
Aggregate cost
855,265
Aggregate depreciation
---------
Carrying value
855,265
---------
6. Debtors
2025
2024
£
£
Other debtors
416,577
385,066
---------
---------
The debtors above include the following amounts falling due after more than one year:
2025
2024
£
£
Other debtors
29,145
28,832
-------
-------
7. Creditors: Amounts falling due within one year
2025
2024
£
£
Social security and other taxes
597
3,330
Other creditors
4,186
5,002
------
------
4,783
8,332
------
------
8. Creditors: Amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
322,094
422,094
---------
---------
£50,000 is due to be paid by October 2028. Interest on the loans is charged at 0.95% above the base rate.
The bank loans are secured on the assets concerned.
9. Director's advances, credits and guarantees
Included in debtors is an amount due to the company from the director of £86,355 (2024: £85,427). The maximum amount overdrawn during the year was £86,355 and interest of £1,928 (2024: £1,896) was charged on the loan.