Company Registration No. 13879329 (England and Wales)
Avenfield Design & Build Ltd
Unaudited accounts
for the year ended 31 December 2024
Avenfield Design & Build Ltd
Unaudited accounts
Contents
Avenfield Design & Build Ltd
Company Information
for the year ended 31 December 2024
Director
SOLIMAN, Mohamed Salaheldin Sayed
Company Number
13879329 (England and Wales)
Registered Office
23 Montpelier Street
London
London
SW7 1HF
England
Accountants
The Peek Partnership Limited
Unit 1, Chancerygate Business Center
Stonefield Way
Ruislip
Middlesex
HA4 0JA
Avenfield Design & Build Ltd
Statement of financial position
as at 31 December 2024
Called up share capital not paid
-
1
Cash at bank and in hand
940
-
Creditors: amounts falling due within one year
(3,300)
-
Net current assets
101,640
-
Total assets less current liabilities
101,640
1
Creditors: amounts falling due after more than one year
(98,229)
-
Called up share capital
1
1
Profit and loss account
3,410
-
Shareholders' funds
3,411
1
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 December 2025 and were signed on its behalf by
SOLIMAN, Mohamed Salaheldin Sayed
Director
Company Registration No. 13879329
Avenfield Design & Build Ltd
Notes to the Accounts
for the year ended 31 December 2024
Avenfield Design & Build Ltd is a private company, limited by shares, registered in England and Wales, registration number 13879329. The registered office is 23 Montpelier Street, London, London, SW7 1HF, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 December 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 January 2023.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Revenue relating to the sale of developed properties is recognised on completion.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. The associated costs are allocated in line with revenue recognition.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank
overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Avenfield Design & Build Ltd
Notes to the Accounts
for the year ended 31 December 2024
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the
assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement
constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
Avenfield Design & Build Ltd
Notes to the Accounts
for the year ended 31 December 2024
The tax expense represents the sum of the tax currently payable and deferred tax.
Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or
deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Judgements and Key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future periods.
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
The company is controlled by Novus Incorporated Limited. A company registered in England & Wales, Company Registration 06617614
The ultimate controlling parties are Mrs Nidhi Binani Singhania and Mrs Kalpana Binani, who together exercise control over Novus Incorporated Limited.
6
Post balance sheet events
Subsequent to the year end of 31 December 2024, the following changes to the board of directors took place:
• Mr Mohamed Salaheldin Sayed Soliman was appointed as a director on 29 April 2025.
• Mr Mahmoud Abdelaziz Mahmoud Ahmed resigned as a director on 23 July 2025.
• Mr Massimo Gioiella resigned as a director on 12 June 2025.
These events are considered non-adjusting events and do not affect the financial position of the company as at 31 December 2024.
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).