AVJ Homes Ltd. - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: SC237718 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

AVJ Homes Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

V Gindha

Mrs G Kaur

SECRETARY:

V Gindha

REGISTERED OFFICE:

279 Castlemilk Road

Glasgow

G44 4LE

REGISTERED NUMBER:

SC237718 (Scotland)

ACCOUNTANTS:

MCC Accountants (Scotland) Ltd.

Burnfield House

4a Burnfield Avenue

Giffnock

Glasgow

G46 7TL

FIXED ASSETS

Intangible assets

4

334

334

Tangible assets

5

240,823

153,031

241,157

153,365

CURRENT ASSETS

Debtors

6

50,921

58,067

Cash at bank

118,204

105,146

169,125

163,213

CREDITORS

Amounts falling due within one year

7

52,966

36,030

NET CURRENT ASSETS

116,159

127,183

TOTAL ASSETS LESS CURRENT LIABILITIES

357,316

280,548

CREDITORS

Amounts falling due after more than one year

8

(48,973

)

-

PROVISIONS FOR LIABILITIES

(4,718

)

(5,326

)

NET ASSETS

303,625

275,222

CAPITAL AND RESERVES

Called up share capital

100

2

Revaluation reserve

9

67,415

48,665

Retained earnings

236,110

226,555

303,625

275,222

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 17 September 2019 and were signed on its behalf by:

V Gindha - Director

1.	STATUTORY INFORMATION

AVJ Homes Ltd. is a private company, limited by shares , registered in Scotland. The company's registered

number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Formation expenses are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance and 10% on reducing balance

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2018

and 31 December 2018

334

NET BOOK VALUE

At 31 December 2018

334

At 31 December 2017

334

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 January 2018

125,000

36,021

161,021

Additions

72,244

-

72,244

Revaluations

18,750

-

18,750

At 31 December 2018

215,994

36,021

252,015

DEPRECIATION

At 1 January 2018

-

7,990

7,990

Charge for year

-

3,202

3,202

At 31 December 2018

-

11,192

11,192

NET BOOK VALUE

At 31 December 2018

215,994

24,829

240,823

At 31 December 2017

125,000

28,031

153,031

Cost or valuation at 31 December 2018 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2018

48,665

-

48,665

Valuation in 2019

18,750

-

18,750

Cost

148,579

36,021

184,600

215,994

36,021

252,015

Freehold property was valued on an open market basis basis on 31 December 2018 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

10,255

11,730

Other debtors

40,666

46,337

50,921

58,067

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans and overdrafts

7,753

-

Trade creditors

9,029

5,576

Taxation and social security

19,820

11,173

Other creditors

16,364

19,281

52,966

36,030

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans

48,973

-

9.

RESERVES

Revaluation

reserve

£

At 1 January 2018

48,665

Revaluation of property

18,750

At 31 December 2018

67,415