Aevum Investments Limited - Period Ending 2018-07-31

Registration number: 10222671

Aevum Investments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2018

Boon and Worth Limited
Mortimer House
Holmer Road
Hereford
Herefordshire
HR4 9TA

Aevum Investments Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 7

Aevum Investments Limited

Company Information

Directors

MIG Little Mrs H Little

Registered office

Mortimer House Holmer Road Hereford HR4 9TA

Accountants

Boon and Worth Limited Mortimer House Holmer Road Hereford Herefordshire HR4 9TA

Page 1

Aevum Investments Limited

(Registration number: 10222671)
Balance Sheet as at 31 July 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	3	4,952	5,922
Investment property	4	480,252	360,138
		485,204	366,060
Current assets
Debtors	5	200	-
Cash at bank and in hand		5,758	55,309
		5,958	55,309
Creditors: Amounts falling due within one year	6	(264,579)	(383,013)
Net current liabilities		(258,621)	(327,704)
Total assets less current liabilities		226,583	38,356
Creditors: Amounts falling due after more than one year	6	(348,859)	(136,469)
Net liabilities		(122,276)	(98,113)
Capital and reserves
Called up share capital		2	2
Profit and loss account		(122,278)	(98,115)
Total equity		(122,276)	(98,113)

For the financial year ending 31 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 4 to 7 form an integral part of these financial statements.

Page 2

Aevum Investments Limited

(Registration number: 10222671)
Balance Sheet as at 31 July 2018

Approved and authorised by the Board on 25 April 2019 and signed on its behalf by:
 

.........................................

Mrs H Little
Director

The notes on pages 4 to 7 form an integral part of these financial statements.

Page 3

Aevum Investments Limited

Notes to the Financial Statements for the Year Ended 31 July 2018

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Mortimer House
Holmer Road
Hereford
HR4 9TA
England

These financial statements were authorised for issue by the Board on 25 April 2019.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and Fittings	20% straight line method

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Page 4

Aevum Investments Limited

Notes to the Financial Statements for the Year Ended 31 July 2018

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Page 5

Aevum Investments Limited

Notes to the Financial Statements for the Year Ended 31 July 2018

3	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 August 2017	7,403	7,403
Additions	593	593
At 31 July 2018	7,996	7,996
Depreciation
At 1 August 2017	1,481	1,481
Charge for the year	1,563	1,563
At 31 July 2018	3,044	3,044
Carrying amount
At 31 July 2018	4,952	4,952
At 31 July 2017	5,922	5,922

Included within the net book value of land and buildings above is £Nil (2017 - £Nil) in respect of freehold land and buildings.
 

4	Investment properties

	2018 £
At 1 August	360,138
Additions	120,114
At 31 July	480,252

There has been no valuation of investment property by an independent valuer.

5

Debtors

	2018 £	2017 £
Other debtors	200	-
	200	-

Page 6

Aevum Investments Limited

Notes to the Financial Statements for the Year Ended 31 July 2018

6

Creditors

Creditors: amounts falling due within one year

	2018 £	2017 £
Due within one year
Trade creditors	567	31
Accruals and deferred income	1,500	-
Other creditors	262,512	382,982
	264,579	383,013

Creditors: amounts falling due after more than one year

	Note	2018 £	2017 £
Due after one year
Loans and borrowings	7	348,859	136,469

7	Loans and borrowings

	2018 £	2017 £
Non-current loans and borrowings
Bank borrowings	346,296	136,469
Other borrowings	2,563	-
	348,859	136,469

8	Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

	2018 £	2017 £
Remuneration	8,200	-

Page 7