Company Registration No. 05412419 (England and Wales)
FIRST AVON PROPERTIES LIMITED
Unaudited accounts
for the year ended 30 April 2023
FIRST AVON PROPERTIES LIMITED
Unaudited accounts
Contents
FIRST AVON PROPERTIES LIMITED
Company Information
for the year ended 30 April 2023
Director
Mr. Edward John Schwartz
Company Number
05412419 (England and Wales)
Registered Office
12E MANOR ROAD
LONDON
N16 5SA
Accountants
Stoke Newington Accountants & Tax Consultants Ltd
4 Baird Road
Enfield
Middlesex
EN1 1SJ
FIRST AVON PROPERTIES LIMITED
Statement of financial position
as at 30 April 2023
Tangible assets
-
2,431,430
Debtors
1,338,988
1,037,450
Cash at bank and in hand
319
28,105
Creditors: amounts falling due within one year
(71,208)
(12,363)
Net current assets
1,268,099
1,053,192
Total assets less current liabilities
1,268,099
3,484,622
Creditors: amounts falling due after more than one year
-
(2,453,356)
Net assets
1,268,099
1,031,266
Called up share capital
100
100
Revaluation reserve
1,005,100
1,005,100
Profit and loss account
262,899
26,066
Shareholders' funds
1,268,099
1,031,266
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 January 2024 and were signed on its behalf by
Mr. Edward John Schwartz
Director
Company Registration No. 05412419
FIRST AVON PROPERTIES LIMITED
Notes to the Accounts
for the year ended 30 April 2023
FIRST AVON PROPERTIES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05412419. The registered office is 12E MANOR ROAD, LONDON, N16 5SA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Reducing Balance Method
Motor vehicles
20% Reducing Balance Method
Fixtures & fittings
15% Reducing Balance Method
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Expenditure on research and development is written off in the year in which it is incurred.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
FIRST AVON PROPERTIES LIMITED
Notes to the Accounts
for the year ended 30 April 2023
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Land & buildings
At 30 April 2022
2,431,430
Amounts falling due within one year
Amounts falling due after more than one year
Amounts due from group undertakings etc.
-
1,037,450
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
60,440
3,095
7
Creditors: amounts falling due after more than one year
2023
2022
Loans from directors
-
163,981
FIRST AVON PROPERTIES LIMITED
Notes to the Accounts
for the year ended 30 April 2023
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Transactions with related parties
During the year there were transactions with business undertakings in which the director, E J Schwartz Esq. has controlling interest.
At the balance sheet date, where the director held controlling interests, the director owed the company £1,338,988.
The controlling party is that of Mr and Mrs Schwartz and they hold all of the issued share capital of the company.
11
Average number of employees
During the year the average number of employees was 2 (2022: 2).
