REGISTERED NUMBER: 13925717 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

AVENFIELD DEVELOPMENTS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

9

DIRECTOR:

M S S Soliman

REGISTERED OFFICE:

23 Montpelier Street

London

SW7 1HF

REGISTERED NUMBER:

13925717 (England and Wales)

ACCOUNTANTS:

The Peek Partnership Ltd

Unit 1,

Chancerygate Business Centre

Stonefiled Way

Ruislip

Middlesex

HA4 0JA

FIXED ASSETS

Tangible assets

5

2,442

3,368

Investments

6

1,000,000

1,000,000

1,002,442

1,003,368

CURRENT ASSETS

Debtors

7

40,936

37,982

Cash and cash equivalents

21,859

166,592

62,795

204,574

CREDITORS

Amounts falling due within one year

8

23,619

121,427

NET CURRENT ASSETS

39,176

83,147

TOTAL ASSETS LESS CURRENT LIABILITIES

1,041,618

1,086,515

CREDITORS

Amounts falling due after more than one year

9

(1,186,236

)

(1,203,454

)

PROVISIONS FOR LIABILITIES

10

(215

)

(215

)

NET LIABILITIES

(144,833

)

(117,154

)

CAPITAL AND RESERVES

Called up share capital

11

1,034,814

1,034,814

Retained earnings

(1,179,647

)

(1,151,968

)

SHAREHOLDERS' DEFICIT

(144,833

)

(117,154

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 23 December 2025 and were signed by:

M S S Soliman - Director

1.	STATUTORY INFORMATION

AVENFIELD DEVELOPMENTS LTD 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Straight line basis - 4 years.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements. This confidence is based on the improved trading results of the business post year end and a strong pipeline of projects, which includes new opportunities from existing clients.

Fixed asset investments

Interests in subsidiaries, associates, and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. Investments are assessed for impairment at each reporting date. Any impairment losses or reversals of impairment losses are recognised immediately in Profit or Loss.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 3 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2024

and 31 December 2024

4,630

DEPRECIATION

At 1 January 2024

1,262

Charge for year

926

At 31 December 2024

2,188

NET BOOK VALUE

At 31 December 2024

2,442

At 31 December 2023

3,368

6.	FIXED ASSET INVESTMENTS

Unlisted

investment

£

COST

At 1 January 2024

and 31 December 2024

1,000,000

NET BOOK VALUE

At 31 December 2024

1,000,000

At 31 December 2023

1,000,000

Impairment of Fixed Assets and Investments

At the end of each reporting period, the company reviews the carrying amounts of its tangible assets and investments to determine whether there are indications that those assets and Investments have suffered an impairment loss. If such indications exist, the recoverable amount of the asset or investment is estimated to ascertain the extent of the impairment loss, if any. Where it is not feasible to estimate the recoverable amount of an individual asset, the company assesses the recoverable amount of the cash-generating unit to which the asset belongs. The recoverable amount is the higher of fair value, less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset (or cash-generating unit) is determined to be less than its carrying amount, the carrying amount is reduced to its recoverable amount. Any impairment loss is recognised immediately in profit or loss unless the relevant asset is recorded at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed only if the reasons for the impairment have ceased to apply. When an impairment loss is subsequently reversed, the carrying amount of the asset or investment (or cash-generating unit) is increased to the revised estimate of its recoverable amount, ensuring that the increased carrying amount does not exceed the amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss unless the relevant asset is recorded at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. Also, see the "Event after balance sheet date" note given above.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Amounts owed by group undertakings

500

-

Other debtors

37,622

1

VAT

3,041

-

Prepayments and accrued income

-

38,208

Accruals

(227

)

(227

)

40,936

37,982

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade creditors

1,892

3,624

Social security and other taxes

2,527

2,396

VAT

-

9,654

Other creditors

19,200

105,753

23,619

121,427

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/24

31/12/23

£

£

Other creditors

1,186,236

1,203,454

Included within creditors falling due after more than one year is an amount due to the parent undertaking, Novus Incorporated Limited, of £1,186,236 (2023: £1,203,454)

10.	PROVISIONS FOR LIABILITIES

31/12/24

31/12/23

£

£

Deferred tax

215

215

Deferred

tax

£

Balance at 1 January 2024

215

Balance at 31 December 2024

215

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/24

31/12/23

value:

£

£

1,034,813

Ordinary

1

-

1,034,814

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Novus Incorporated limited.

A company is incorporated in England and Wales, and its registered address is 23 Montpelier Street, London, England, SW7 1HF.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2024 set out on pages one to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

The Peek Partnership Ltd

Unit 1,

Chancerygate Business Centre

Stonefiled Way

Ruislip

Middlesex

HA4 0JA

Date: .............................................