Aevum Investments Limited - Period Ending 2021-07-31

Aevum Investments Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

Aevum Investments Limited

Company Information

Directors

MIG Little Mrs H Little

Registered office

Suite A4, Skylon Court Coldnose Road Rotherwas Hereford HR2 6JS

Accountants

Boon and Worth Limited Suite A4, Skylon Court Coldnose Road Rotherwas Hereford HR2 6JS

Aevum Investments Limited

(Registration number: 10222671)
Balance Sheet as at 31 July 2021

	Note	2021 £	2020 £
Fixed assets
Tangible assets	5	154	1,754
Investment property	6	300,000	515,000
		300,154	516,754
Current assets
Debtors	7	2,971	4,420
Cash at bank and in hand		41,353	30,117
		44,324	34,537
Creditors: Amounts falling due within one year	8	(174,897)	(250,913)
Net current liabilities		(130,573)	(216,376)
Total assets less current liabilities		169,581	300,378
Creditors: Amounts falling due after more than one year	8	(224,316)	(362,067)
Provisions for liabilities		(2,518)	(6,602)
Net liabilities		(57,253)	(68,291)
Capital and reserves
Called up share capital		2	2
Profit and loss account		(57,255)	(68,293)
Shareholders' deficit		(57,253)	(68,291)

Aevum Investments Limited

(Registration number: 10222671)
Balance Sheet as at 31 July 2021

For the financial year ending 31 July 2021 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.

Approved and authorised by the Board on 21 April 2022 and signed on its behalf by:
 

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

Mrs H Little
Director

Aevum Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2021

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:
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS
England

These financial statements were authorised for issue by the Board on 21 April 2022.

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.

Going concern

Total liabilities exceed current assets at the balance sheet date. The directors consider, however that the company has sufficient liquid assets, to meet its liabilities as and when they fall due, and that the company has sufficient support from its creditors. Accordingly the director considers that it is appropriate to prepare the accounts on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet 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

Aevum Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2021

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.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2020 - 2).

4	Profit before tax

Arrived at after charging/(crediting)

	2021 £	2020 £
Depreciation expense	1,600	1,599

Aevum Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2021

5	Tangible assets

	Fixtures and fittings £	Total £
Cost or valuation
At 1 August 2020	7,996	7,996
At 31 July 2021	7,996	7,996
Depreciation
At 1 August 2020	6,242	6,242
Charge for the year	1,600	1,600
At 31 July 2021	7,842	7,842
Carrying amount
At 31 July 2021	154	154
At 31 July 2020	1,754	1,754

6	Investment properties

	2021 £
At 1 August	515,000
Disposals	(215,000)
At 31 July	300,000

7

Debtors

	2021 £	2020 £
Trade debtors	2,579	4,220
Prepayments	192	-
Other debtors	200	200
	2,971	4,420

Aevum Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2021

8

Creditors

Creditors: amounts falling due within one year

	2021 £	2020 £
Due within one year
Trade creditors	24	23
Accruals and deferred income	1,560	1,560
Other creditors	173,313	249,330
	174,897	250,913

Creditors: amounts falling due after more than one year

	Note	2021 £	2020 £
Due after one year
Loans and borrowings	9	224,316	362,067

9	Loans and borrowings

	2021 £	2020 £
Non-current loans and borrowings
Bank borrowings	209,828	346,555
Other borrowings	14,488	15,512
	224,316	362,067

Aevum Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2021

10	Related party transactions

Transactions with directors

2021	At 1 August 2020 £	Advances to directors £	At 31 July 2021 £
Mrs H Little
Directors' loan account	(76,645)	72,016	(4,629)
	(76,645)	72,016	(4,629)

2020	At 1 August 2019 £	Advances to directors £	At 31 July 2020 £
Mrs H Little
Directors' loan account	(103,306)	26,661	(76,645)
	(103,306)	26,661	(76,645)