AVG Properties Limited - Limited company accounts 11.4

REGISTERED NUMBER: 04477658 (England and Wales)

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2014

FOR

AVG PROPERTIES LIMITED

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

D T Ashcroft

REGISTERED OFFICE:

Interbene Manor

Upton Road

Bidston

Wirral

Merseyside

CH43 7QQ

REGISTERED NUMBER:

04477658 (England and Wales)

ACCOUNTANTS:

Guild Appleton Limited

Chartered Certified Accountants

Number 19

Old Hall Street

Liverpool

Merseyside

L3 9JQ

The director presents his report with the financial statements of the company for the year ended 31 August 2014.

DIRECTOR

D T Ashcroft held office during the whole of the period from 1 September 2013 to the date of this report.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

D T Ashcroft - Director

30 October 2014

TURNOVER

12,183

154,847

Cost of sales

9,563

135,715

GROSS PROFIT

2,620

19,132

Administrative expenses

34,262

21,719

(31,642

)

(2,587

)

Other operating income

39,545

37,550

OPERATING PROFIT

2

7,903

34,963

Interest payable and similar charges

3,349

PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

4,554

31,614

Tax on profit on ordinary activities

3

911

4,584

PROFIT FOR THE FINANCIAL YEAR

3,643

27,030

Retained profit brought forward

146,622

119,592

RETAINED PROFIT CARRIED FORWARD

150,265

146,622

FIXED ASSETS

Intangible assets

4

20,000

30,000

Tangible assets

5

619,999

559,999

639,999

589,999

CURRENT ASSETS

Debtors

6

129,167

-

Cash at bank

28,771

2,881

157,938

2,881

CREDITORS

Amounts falling due within one year

7

156,453

6,421

NET CURRENT ASSETS/(LIABILITIES)

1,485

(3,540

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

641,484

586,459

CREDITORS

Amounts falling due after more than one year

8

491,119

439,737

NET ASSETS

150,365

146,722

CAPITAL AND RESERVES

Called up share capital

9

100

Profit and loss account

150,265

146,622

SHAREHOLDERS' FUNDS

150,365

146,722

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the director on 30 October 2014 and were signed by:

D T Ashcroft - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

date.

2.	OPERATING PROFIT

The operating profit is stated after charging:

2014

2013

£

Goodwill amortisation

10,000

-

Director's remuneration and other benefits etc

-

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

2014

2013

£

Current tax:

UK corporation tax

911

4,584

Tax on profit on ordinary activities

911

4,584

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2013

and 31 August 2014

30,000

AMORTISATION

Charge for year

10,000

At 31 August 2014

10,000

NET BOOK VALUE

At 31 August 2014

20,000

At 31 August 2013

30,000

5.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 September 2013

559,999

Additions

60,000

At 31 August 2014

619,999

NET BOOK VALUE

At 31 August 2014

619,999

At 31 August 2013

559,999

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2014

2013

£

Other debtors

129,167

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2014

2013

£

Trade creditors

(1

)

-

Taxation and social security

911

6,421

Other creditors

155,543

-

156,453

6,421

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2014

2013

£

Other creditors

491,119

439,737

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

100

Ordinary

1

100