Company Registration No. 05938909 (England and Wales)
AN AVEL BRAZ ENERGIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
PAGES FOR FILING WITH REGISTRAR
AN AVEL BRAZ ENERGIES LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
AN AVEL BRAZ ENERGIES LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2016
31 December 2016
- 1 -
2016
2015
Notes
£
£
£
£
Current assets
Debtors
3
213,257
191,464
Cash at bank and in hand
257,185
12,405
470,442
203,869
Creditors: amounts falling due within one year
4
(236,034)
(69,544)
Net current assets
234,408
134,325
Creditors: amounts falling due after more than one year
5
(456,109)
(619,558)
Net liabilities
(221,701)
(485,233)
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
(221,702)
(485,234)
Total equity
(221,701)
(485,233)
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 25 September 2017
Xavier De La Rochefoucauld
Director
Company Registration No. 05938909
AN AVEL BRAZ ENERGIES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2016
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2015
1
(608,604)
(608,603)
Year ended 31 December 2015:
Profit and total comprehensive income for the year
-
123,370
123,370
Balance at 31 December 2015
1
(485,234)
(485,233)
Year ended 31 December 2016:
Profit and total comprehensive income for the year
-
263,532
263,532
Balance at 31 December 2016
1
(221,702)
(221,701)
AN AVEL BRAZ ENERGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
- 3 -
1
Accounting policies
Company information
An Avel Braz Energies Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Eighth Floor, 6 New Street Square, London, EC4A 3AQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
These financial statements for the year ended 31 December 2016
are the
first
financial statements of An Avel Braz Energies Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 January 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
1.2
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company.
1.3
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.5
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 3 (2015 - 3).
AN AVEL BRAZ ENERGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
- 4 -
3
Debtors
2016
2015
Amounts falling due within one year:
£
£
Trade debtors
69,943
51,960
Other debtors
143,314
139,504
213,257
191,464
4
Creditors: amounts falling due within one year
2016
2015
£
£
Trade creditors
105,517
33,786
Other taxation and social security
38,063
6,140
Other creditors
92,454
29,618
236,034
69,544
5
Creditors: amounts falling due after more than one year
2016
2015
£
£
Bank loans
256,109
419,558
Other creditors
200,000
200,000
456,109
619,558
6
Called up share capital
2016
2015
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1
7
Related party transactions
Included within debtors is an amount of £139,685 (2015: £53,375) owed by La Rochefoucauld and Sons Limited, a company in which the director has an interest.
During the year the company was reimbursed costs of £14,175 (2015: recharged costs of £24,024) from La Rochefoucauld and Sons Limited.
AN AVEL BRAZ ENERGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
- 5 -
8
Director's transactions
Included within creditors is an amount of £9,462 (2015: £129,965 debtor) owed to the director as at the balance sheet date.