Avalon (Guildford) Limited - Accounts to registrar - small 16.3

REGISTERED NUMBER: 02701083 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MARCH 2016 TO 31 DECEMBER 2016

FOR

AVALON (GUILDFORD) LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M De Lara

I P Scattergood

A Vicos

REGISTERED OFFICE:

Thursley House

53 Station Road

Shalford

Guildford

Surrey

GU4 8HA

REGISTERED NUMBER:

02701083 (England and Wales)

FIXED ASSETS

Investment property

4

-

310,000

CURRENT ASSETS

Debtors

-

1,080

Cash at bank

11,336

68

11,336

1,148

CREDITORS

Amounts falling due within one year

1,350

58,089

NET CURRENT ASSETS/(LIABILITIES)

9,986

(56,941

)

TOTAL ASSETS LESS CURRENT LIABILITIES

9,986

253,059

CREDITORS

Amounts falling due after more than one year

5

-

241,627

NET ASSETS

9,986

11,432

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

9,886

11,332

SHAREHOLDERS' FUNDS

9,986

11,432

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the period ended 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 14 February 2017 and were signed on its behalf by:

A Vicos - Director

1.	STATUTORY INFORMATION

Avalon (Guildford) 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 under a break-up basis of accounting as the directors do not believe that the

company will be a going concern for a period of 12 months from the date of signing the financial statements. Under the

break-up basis of accounting, assets are stated at their realisable value and liabilities are stated at their settlement value.

Accounting convention

These financial statements have been prepared in accordance with the provisions of Section 1A 'Small Entities' of Financial

Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the

Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the fair value of rental income receivable in the period, excluding rebates and value added tax.

Investment property

At the date of transition to new UK GAAP, the investment property was included at the most recent valuation. The

company has taken advantage of transitional arrangements which allowed the revaluation under previous GAAP to be

treated as deemed cost.

Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account.

Taxation

Taxation for the period comprises current 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 taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or

substantively enacted by the balance sheet date.

Transition to new accounting standards

This is the first year that the company has presented its results in accordance with the provisions of Section 1A "Small

Entities" of Financial Reporting Standard 102. The last financial statements under previous UK GAAP were for the year

ended 28 February 2016 and the date of transition was 1 March 2015.

Presentation of the results for the comparative year under new UK GAAP, has not resulted in any change to the results

compared to those presented under previous UK GAAP. Therefore it has not been necessary to prepare a reconciliation of

the profit for the financial period ended 31 December 2016 and the total equity as at 1 March 2015 and 31 December 2016

between UK GAAP as previously reported and under Section 1A of FRS 102, in these financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2016

310,000

Disposals

(310,000

)

At 31 December 2016

-

NET BOOK VALUE

At 31 December 2016

-

At 29 February 2016

310,000

The investment property was sold on 29 April 2016 for proceeds of £310,000.

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2016

£

£

Bank loans

-

241,627

6.	SECURED DEBTS

The following secured debts are included within creditors:

2016

2016

£

£

Bank loan

-

48,007

Mortgage

-

219,000

-

267,007

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2016

value:

£

£

10,000

Ordinary

1p

100

100

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the period, P J Scattergood invoiced the company £1,050 (February 2016 - £7,300) in respect of professional

services provided. The balance outstanding at the period end was £nil (February 2016 - £nil).

As at 31 December 2016, the company owed P J and S O Scattergood £nil (February 2016 - £219,000) in respect of a

mortgage. During the period, the company repaid P J and S O Scattergood £219,000 (February 2016 - £29,000) in respect

of the mortgage together with mortgage interest of £274 (February 2016 - £1,745).

9.	RELATED PARTY DISCLOSURES

During the period the company has entered into transactions with another entity in which the directors are also shareholders.

Rent totalling £5,000 (February 2016 - £25,000) was invoiced during the period. The balance outstanding at the period end

was £nil (February 2016 - £nil).

The company was advanced £1,296 (February 2016 - £6,145) by the related party during the period. The balance

outstanding at the period end was £nil (February 2016 - £6,145).

The related party paid dividends of £nil (February 2016 - £188) during the period.

During the period a loan totalling £nil (February 2016 - £25,000) was provided by the related party. The balance

outstanding at the period-end was £nil (February 2016 - £25,000).

During the period the investment property was sold to a related entity in which the directors also have a controlling interest.

10.	CHANGE OF ACCOUNTING PERIOD

The year ended 28 February 2017 was shortened so as to end on 31 December 2016 to become coterminous with the

calendar year.