Company Registration No. 05938909 (England and Wales)
AN AVEL BRAZ ENERGIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
AN AVEL BRAZ ENERGIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
AN AVEL BRAZ ENERGIES LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2021
31 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Current assets
Debtors
5
46,482
464,775
Cash at bank and in hand
789,050
529,934
835,532
994,709
Creditors: amounts falling due within one year
4
(73,339)
(220,131)
Net current assets
762,193
774,578
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
762,192
774,577
Total equity
762,193
774,578
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 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 30 September 2022
Xavier De La Rochefoucauld
Director
Company Registration No. 05938909
AN AVEL BRAZ ENERGIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021
31 December 2021
- 2 -
1
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
2
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.
2.1
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.
2.2
Turnover
Turnover comprises of the invoiced value of goods and services supplied by the company.
2.3
Fixed asset investments
Fixed asset investments
are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The
fixed asset
investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in
profit
or
loss
.
2.4
Cash at bank and in hand
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.
2.5
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.
AN AVEL BRAZ ENERGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
2
Accounting policies
(Continued)
- 3 -
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
2.6
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2.8
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
in the period
are included in profit or loss.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
3
3
4
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
30,162
Corporation tax
852
162,530
Other taxation and social security
9,881
18,412
Other creditors
32,444
39,189
73,339
220,131
AN AVEL BRAZ ENERGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 4 -
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
1
Other debtors
46,482
16,103
Prepayments and accrued income
448,671
46,482
464,775
6
Called up share capital
2021
2020
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1
1
1
7
Related party transactions
During the year the company recharged expenses of £18,900 (2020: £18,900) in respect of rent and office expenses to La Rochefoucauld & Sons Limited.