1.
General Information
Avakas Developments Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
07438018
. The registered office is Unit 7, Mulberry Place, Pinnell Road, Eltham, London, SE9 6AR.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented.
Preparation of Consolidated Financial Statements
The financial statements contain information about Avakas Developments Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
|
2.4.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Avakas Developments Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.5.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.6.
Going Concern
The financial statements for the period ended 31st December 2025 have been prepared on going concern basis. In the opinion of the directors, the company will continue trading for at least 12 months from the balance sheet date.
2.7.
Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2024: NIL)
4.
Tangible Assets
| Computer Equipment | |
|---|---|
| £ | |
| Cost | |
| As at 1 January 2025 |
|
| As at 31 December 2025 |
|
| Depreciation | |
| As at 1 January 2025 |
|
| As at 31 December 2025 |
|
| Net Book Value | |
| As at 31 December 2025 |
|
| As at 1 January 2025 |
|
Avakas Developments Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
5.
Investments
| Subsidiaries | |
|---|---|
| £ | |
| Cost or Valuation | |
| As at 1 January 2025 |
|
| Additions |
|
| Disposals |
( |
| As at 31 December 2025 |
|
| Provision | |
| As at 1 January 2025 |
|
| As at 31 December 2025 |
|
| Net Book Value | |
| As at 31 December 2025 |
|
| As at 1 January 2025 |
|
6.
Stocks
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Stock |
|
|
|
7.
Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Other debtors | 12,952 | 14,077 | |
8.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Other loans |
|
|
|
| Other creditors | 197,166 | 196,673 | |
|
|
|
||
9.
Secured Creditors
Of the creditors the following amounts are secured.
The below loans are secured by means of legal charges over the company's properties. The Director has given a personal guarantee in respect of loans included in Other Creditors totalling £213,368 (2024: £168,368).
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Other Creditors | 213,368 | 168,368 |
Avakas Developments Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
11.
Reserves
|
Retained earnings
|
||
|
£
|
||
|
At 1 January 2025
|
(344,423)
|
|
|
Deficit for the year
|
(47,152)
|
|
|
Distribution, Group waiver
|
(1,420)
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
|
|
At 31 December 2025
|
(392,995)
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
12.
Related Party Transactions
12.
Related Party Transactions - continued
During the year Mr J Tyler, director of the company, had following loans with the company.
Mr J Tyler had a loan facility with the company of £3,650,000 in 2019. The agreed interest rate is 15%. This is a secured loan. Mr and Mrs Macedo have also provided a personal guarantee in respect of 50% of this loan.
At the balance sheet date, the company owed Mr J Tyler £213,368 (2024: £168,368) of this facility. This is included in Other Creditors due in less than one year.
During the year, Mr J Tyler agreed to waive £Nil (2024 - £Nil) of this loan facility. An additional £Nil (2024 - £Nil) was agreed to be paid to Mr J Tyler by Mr and Mrs Macedo with respect to the personal guarantee provided against this loan facility. The total amount of £Nil (2024 - £Nil) is credited to the profit and loss account
At the balance sheet date the following amounts were owed by the company and included in Other Creditors: Amounts owed to other companies in the group:
Exodus Fund Holding Ltd - £27,849 (2024: £27,921)
Exodus Fund Ltd - £107,557 (2024: £107,818)
At the balance sheet date, the following amounts were owed to the company by wholly owned subsidiaries and are included within Other Debtors:
102 Fleet Road Management Ltd - £2,061 (2024: £2,064)
At the balance sheet date the following amounts were owed to the company by other companies in the group and are included within Other Debtors:
Aventier Developments Ltd - £294 (2024: £294)
Aventier Holding Ltd - £3,699 (2024: £3,589)
Aventier Ltd (formerly Aventier Landbank 2 Ltd) - £Nil (2024: £Nil)
During the year, it was agreed that the balance due to the company by Aventier Ltd (formerly Aventier Landbank 2 Ltd) was acquired by Mr J Macedo and Mr J Tyler in equal share.
At the Balance Sheet date, Mrs C Macedo has a balance outstanding with the company of £1,241 (2024: £1,241).
During the year, the parent company made a decision to waive the following inter-group balances:
Avakas Construction Ltd - £188 owed to the company
106-108 Fleet Road Ltd - £1,232 owed to the company
The balance owed by the company is credited to retained earnings as a capital contribution from the parent company. The balances owed to the company are debited to retained earnings as capital distribution to the parent company. The effect of these adjustments is shown on notes 'Reserves' and 'Reconciliation of movements in shareholders' funds'.
Exodus Fund Holding Ltd, a company incorporated in Cyprus, is the parent company of:
- Exodus Fund Ltd, a company incorporated in Cyprus
...CONTINUED
Avakas Developments Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
- Aventier Holding Ltd, a company incorporated in Cyprus
- Avakas Developments Ltd
- A minority shareholder in Aventier Holding Ltd.
Aventier Developments Ltd is a wholly owned subsidiary of Aventier Holding Ltd.
Avakas Developments Ltd is the parent company of 102 Fleet Road Management Ltd.
13.
Ultimate Controlling Party
JA Macedo, C Macedo and J Tyler are deemed to be the controlling party by virtue of their shareholding in the parent company.
Exodus Fund Holding Ltd (formerly Exodus Fund 1 Limited), a company incorporated and registered in Cyprus (Company Number HE349977), is the ultimate parent company.
14.
Reconciliation of movements in Shareholders' funds
|
2025
|
2024
|
||
|
£
|
£
|
||
|
(Loss)/profit for the financial year
|
(47,152)
|
(99,990)
|
|
|
Distribution, Group waiver
|
(1,420)
|
(845)
|
|
|
Capital contribution from parent
|
-
|
-
|
|
|
Net (reduction)/addition to shareholders' funds
|
(48,572)
|
(100,835)
|
|
|
Opening shareholders' funds
|
(344,421)
|
(243,586)
|
|
|
Closing shareholders' funds
|
(392,993)
|
(344,421)
|