Avamore Finance 1 Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11674221 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

AVAMORE FINANCE 1 LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M R Dean

Z U Mirza

P A Gould

REGISTERED OFFICE:

Clarence Street Chambers

32 Clarence Street

Southend-on-Sea

Essex

SS1 1BD

BUSINESS ADDRESS:

Cannon Place

78 Cannon Street

London

EC4N 6HL

REGISTERED NUMBER:

11674221 (England and Wales)

ACCOUNTANTS:

A.R. Lee & Co.

Chartered Certified Accountants

Clarence Street Chambers

32 Clarence Street

Southend-on-Sea

Essex

SS1 1BD

CURRENT ASSETS

Debtors

4

705,429

562,962

Cash at bank

218,998

67,253

924,427

630,215

CREDITORS

Amounts falling due within one year

5

82,534

34,006

NET CURRENT ASSETS

841,893

596,209

TOTAL ASSETS LESS CURRENT LIABILITIES

841,893

596,209

CAPITAL AND RESERVES

Called up share capital

6

500,000

500,000

Retained earnings

341,893

96,209

SHAREHOLDERS' FUNDS

841,893

596,209

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 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 Board of Directors and authorised for issue on 13 August 2021 and were signed on its behalf by:

M R Dean - Director

1.	STATUTORY INFORMATION

Avamore Finance 1 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.

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

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.

Preparation of consolidated financial statements

The financial statements contain information about Avamore Finance 1 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover consists of fees and interest due to the company on the commercial loans it arranges and is accounted for as it accrues under the terms of each agreement.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

373,379

182,902

Amounts owed by group undertakings

332,050

248,432

Other debtors

-

131,628

705,429

562,962

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

1,272

2,516

Amounts owed to group undertakings

165

-

Taxation and social security

80,197

22,594

Other creditors

900

8,896

82,534

34,006

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.20

31.12.19

value:

£

£

500,000

Ordinary

£1

500,000

500,000