Avis Global Energy Ltd
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Notes to the Accounts |
for the year ended 30 April 2021
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1 |
Accounting policies |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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2 |
Employees |
2021 |
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2020 |
Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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3 |
Tangible fixed assets |
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Plant and machinery etc |
Plant and machinery etc |
£ |
£ |
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Cost |
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Additions |
250,000 |
250,000 |
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At 30 April 2021 |
250,000 |
250,000 |
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Depreciation |
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At 30 April 2021 |
- |
- |
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Net book value |
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At 30 April 2021 |
250,000 |
250,000 |
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4 |
Investments |
Investments in |
subsidiary |
Other |
undertakings |
investments |
Total |
Total |
£ |
£ |
£ |
£ |
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Cost |
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At 1 May 2020 |
- |
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11,223,674,838 |
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11,223,674,838 |
11,223,674,838 |
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Additions |
- |
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5,388,712,708 |
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5,388,712,708 |
5,388,712,708 |
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At 30 April 2021 |
- |
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16,612,387,546 |
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16,612,387,546 |
16,612,387,546 |
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Investment in shares are included at fair value. |
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The company owns shares in the following companies: |
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Avis Air (IF) Ltd |
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Avis Capital Limited |
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Avis Congress Hotels PLC |
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Avis Energy America Corp |
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Avis Australia PYT |
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Avis Energy Canada Ltd |
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Avis Columbia SAS |
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Avis Energy Mexico SA |
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Avis Energy Peru SAS |
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Avis Energy Spain SA |
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Avis Energy Venezuela SAS |
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Avis Global Energy Corp Navada |
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Avis Global Foundation Ltd |
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Avis Global Group Ltd |
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Avis Global Holding Ltd |
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Avis Global Humanitarian Foundation Ltd |
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Avis Green Industries Group SI |
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Avis Logistic Ltd |
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Avis Nanotech Ltd |
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Avis Net Ltd |
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Avis Pay PYT |
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Avis Planet Latin America SAS |
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Avis Shipping (IF) Ltd |
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Avis Tech Mexico SA |
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Transminel Ltd |
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Controlling Party |
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Avis Global Green Energy Fund 1 Ireland |
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5 |
Debtors |
2021 |
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2020 |
£ |
£ |
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Other debtors |
4,987,040,571 |
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4,778,066,181 |
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6 |
Creditors: amounts falling due within one year |
2021 |
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2020 |
£ |
£ |
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Other creditors |
16,867,098,675 |
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11,001,741,019 |
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7 |
Other information |
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Avis Global Energy Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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Vyman House |
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104 College Road |
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Harrow |
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Middlesex |
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HA1 1BQ |