AVG Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04477658 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2019

FOR

AVG PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTOR:

D T Ashcroft

REGISTERED OFFICE:

Interbene Manor

Upton Road

Bidston

Wirral

Merseyside

CH43 7QQ

REGISTERED NUMBER:

04477658 (England and Wales)

ACCOUNTANTS:

Guild Appleton Limited

Chartered Certified Accountants

Number 19

Old Hall Street

Liverpool

Merseyside

L3 9JQ

FIXED ASSETS

Intangible assets

4

20,000

20,000

Tangible assets

5

1,228,444

1,185,444

1,248,444

1,205,444

CURRENT ASSETS

Stocks

48,191

-

Debtors

6

16,626

10,000

Cash at bank

340,858

250,587

405,675

260,587

CREDITORS

Amounts falling due within one year

7

232,157

257,790

NET CURRENT ASSETS

173,518

2,797

TOTAL ASSETS LESS CURRENT LIABILITIES

1,421,962

1,208,241

CREDITORS

Amounts falling due after more than one year

8

(305,000

)

(105,000

)

PROVISIONS FOR LIABILITIES

(77,990

)

(77,990

)

NET ASSETS

1,038,972

1,025,251

CAPITAL AND RESERVES

Called up share capital

9

472,999

472,999

Fair value reserve

389,949

389,949

Retained earnings

176,024

162,303

SHAREHOLDERS' FUNDS

10

1,038,972

1,025,251

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2019 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 20 May 2020 and were signed by:

D T Ashcroft - Director

1.	STATUTORY INFORMATION

AVG Properties Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.

Tangible fixed assets

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

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2018

and 31 August 2019

30,000

AMORTISATION

At 1 September 2018

and 31 August 2019

10,000

NET BOOK VALUE

At 31 August 2019

20,000

At 31 August 2018

20,000

5.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1 September 2018

1,185,444

Additions

43,000

At 31 August 2019

1,228,444

NET BOOK VALUE

At 31 August 2019

1,228,444

At 31 August 2018

1,185,444

Cost or valuation at 31 August 2019 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2017

396,393

-

396,393

Cost

832,051

-

832,051

1,228,444

-

1,228,444

If freehold property had not been revalued they would have been included at the following historical cost:

2019

2018

£

£

Cost

795,495

795,495

freehold property were valued on an open market basis on 31 August 2017 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

10,000

10,000

Other debtors

6,626

-

16,626

10,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

(1

)

-

Taxation and social security

2,998

1,517

Other creditors

229,160

256,273

232,157

257,790

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other creditors

305,000

105,000

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

472,999

Ordinary

1

472,999

472,999

10.	RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS

2019

2018

£

£

Profit for the financial year

13,721

7,374

New share capital subscribed

-

1,017,877

Fixed asset revaluation

opening profit and loss b/fwd

Net addition to shareholders' funds

13,721

1,025,251

Opening shareholders' funds

1,025,251

-

Closing shareholders' funds

1,038,972

1,025,251

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of AVG Properties Limited for the year ended 31 August 2019 which comprise the Income Statement, Balance

Sheet and the related notes from the company's accounting records and from information and explanations you have given

us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of AVG Properties Limited in accordance with the terms of our engagement letter dated 19 November 2009. Our work has been undertaken solely to prepare for your approval the financial statements of AVG Properties Limited and state those matters that we have agreed to state to the director of AVG Properties Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that AVG Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of AVG Properties Limited. You consider that AVG Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of AVG Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Guild Appleton Limited

Chartered Certified Accountants

Number 19

Old Hall Street

Liverpool

Merseyside

L3 9JQ

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