AVV Properties Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11065414 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 NOVEMBER 2019 TO 30 APRIL 2021

FOR

AVV PROPERTIES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr Raymond Arnold Wills

Mrs Patricia Anne Wills

REGISTERED OFFICE:

Unit 3

Eastman Way

Hemel Hempstead

Hertfordshire

HP2 7DU

REGISTERED NUMBER:

11065414 (England and Wales)

ACCOUNTANTS:

Michael Filiou Ltd

Chartered Certified Accountants

www.michaelfiliou.com

Salisbury House

81 High Street

Potters Bar

Hertfordshire

EN6 5AS

FIXED ASSETS

Investments

5

1,000

1,000

Investment property

6

899,186

899,186

900,186

900,186

CURRENT ASSETS

Debtors

7

9,850

38,350

Cash at bank and in hand

2,883

11,666

12,733

50,016

CREDITORS

Amounts falling due within one year

8

68,781

73,644

NET CURRENT LIABILITIES

(56,048

)

(23,628

)

TOTAL ASSETS LESS CURRENT LIABILITIES

844,138

876,558

CREDITORS

Amounts falling due after more than one year

9

839,527

879,289

NET ASSETS/(LIABILITIES)

4,611

(2,731

)

CAPITAL AND RESERVES

Called up share capital

11

3,000

3,000

Retained earnings

12

1,611

(5,731

)

SHAREHOLDERS' FUNDS

4,611

(2,731

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2021 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 20 October 2021 and were signed on its behalf by:

Mr Raymond Arnold Wills - Director

1.	STATUTORY INFORMATION

AVV Properties Ltd 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Going concern

The accounts have been prepared on a going concern basis which the directors believe to be appropriate for the following reasons.

The directors are aware of material uncertainties that cast doubt on the company's ability to continue as a going concern. As with most businesses, these material uncertainties are in relation to the ongoing Covid-19 virus outbreak which has had an impact on the operations, customers, suppliers and staff. The directors have (where appropriate) utilised the grants and benefits available from the government and are taking all the steps they can to protect the future of the business.

Preparation of consolidated financial statements

The financial statements contain information about AVV Properties Ltd 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.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There were no judgements and estimates that had significant effect on the amounts recognised in the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the period 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 period 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.

4.	EMPLOYEES AND DIRECTORS

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

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 November 2019

and 30 April 2021

1,000

NET BOOK VALUE

At 30 April 2021

1,000

At 31 October 2019

1,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

AVV Solutions Training Centre Ltd

Registered office: United Kingdom

Nature of business: Vocational training

%

Class of shares:

holding

Ordinary Shares

100.00

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2019

and 30 April 2021

899,186

NET BOOK VALUE

At 30 April 2021

899,186

At 31 October 2019

899,186

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2019

£

£

Trade debtors

9,500

38,000

Amounts owed by group undertakings

350

350

9,850

38,350

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2019

£

£

Bank loans and overdrafts (see note 10)

31,842

28,936

Corporation tax

1,538

1,059

Accruals and deferred income

27,500

38,000

Accrued expenses

7,901

5,649

68,781

73,644

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2019

£

£

Bank loans (see note 10)

436,699

484,736

Amounts owed to related

companies

402,828

394,553

839,527

879,289

2021

2019

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

293,104

356,875

10.

LOANS

An analysis of the maturity of loans is given below:

2021

2019

£

£

Amounts falling due within one year or on demand:

Bank loans

31,842

28,936

Amounts falling due between two and five years:

Bank loans - 2-5 years

143,595

127,861

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

293,104

356,875

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2019

value:

£

£

3,000

Ordinary

£1

3,000

3,000

12.

RESERVES

Retained

earnings

£

At 1 November 2019

(5,731

)

Profit for the period

7,342

At 30 April 2021

1,611

13.	RELATED PARTY DISCLOSURES

AVV Solutions Ltd

AVV Solutions Ltd is a related company incorporated in England and Wales which is controlled by the directors of AVV Properties Ltd.

At the reporting date, the company owed AVV Solutions Ltd £402,828 (2019 - £394,553). This includes loan interest charged at the market rate of 4% per annum.

AVV Solutions Training Centre Ltd

AVV Solutions Training Centre Ltd is a 100% subsidiary of the company and is incorporated in England and Wales.

At the reporting date, AVV Solutions Training Centre Ltd owed £350 (2019 - £350) to the company. This is an unsecured interest-free loan which is repayable on demand.

14.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Raymond Arnold Wills.

He owns the majority of the issued share capital of the company.