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Aventura Ltd Annual Report and Unaudited Filleted Financial Statements for the Year Ended 31 March 2018

Aventura Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Filleted Financial Statements	3 to 6

Aventura Ltd

Company Information

Director

K M Delargy

Registered office

45 City Road Chester Cheshire CH1 3AE

Accountants

Shaw Austin Limited Chartered Accountants 45 City Road Chester Cheshire CH1 3AE

Page 1

Aventura Ltd

(Registration number: 04682464)
Filleted Balance Sheet as at 31 March 2018

	Note	2018  £	2017  £
Fixed assets
Tangible assets	4	442	690
Current assets
Debtors	5	1,915	16,770
Cash at bank and in hand		7,851	708
		9,766	17,478
Creditors: Amounts falling due within one year	6	(907,144)	(906,005)
Net current liabilities		(897,378)	(888,527)
Net liabilities		(896,936)	(887,837)
Capital and reserves
Called up share capital		2	2
Profit and loss account		(896,938)	(887,839)
Total equity		(896,936)	(887,837)

For the financial year ending 31 March 2018 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 financial statements 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 financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 director on 17 December 2018

......................................... K M Delargy Director

The notes on pages 3 to 6 form an integral part of these financial statements.

Page 2

Aventura Ltd

Notes to the Filleted Financial Statements for the Year Ended 31 March 2018

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:
45 City Road
Chester
Cheshire
CH1 3AE
United Kingdom

The principal place of business is:
Cassidy House
Station Road
Chester
CH1 3DW

These financial statements were authorised for issue by the director on 17 December 2018.

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.

The presentational currency is £ Sterling and all amounts are rounded to the nearest £.

Going concern

The financial statements have been prepared on the assumption that the company is able to carry on business as a going concern, which the director considers appropriate having regard to the circumstances outlined in note 10.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Page 3

Aventura Ltd

Notes to the Filleted Financial Statements for the Year Ended 31 March 2018

Tangible assets

Tangible assets are stated in the statement of financial position 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
Equipment	25% on net book value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2017 - 3).

Page 4

Aventura Ltd

Notes to the Filleted Financial Statements for the Year Ended 31 March 2018

4	Tangible assets

	Equipment £	Total £
Cost or valuation
At 1 April 2017	3,473	3,473
Disposals	(259)	(259)
At 31 March 2018	3,214	3,214
Depreciation
At 1 April 2017	2,783	2,783
Charge for the year	154	154
Eliminated on disposal	(165)	(165)
At 31 March 2018	2,772	2,772
Carrying amount
At 31 March 2018	442	442
At 31 March 2017	690	690

5

Debtors

	2018 £	2017 £
Other debtors	1,915	16,770
Total current trade and other debtors	1,915	16,770

6

Creditors

Creditors: amounts falling due within one year

	Note	2018 £	2017 £
Due within one year
Loans and borrowings	7	904,864	904,775
Trade creditors		440	-
Taxation and social security		740	-
Other creditors		1,100	1,230
		907,144	906,005