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REGISTERED NUMBER: 07424791 (England and Wales)


AVA Produce Limited

Abridged Audited Financial Statements

for the Year Ended 31 March 2022






AVA Produce Limited (Registered number: 07424791)






Contents of the Financial Statements
for the year ended 31 March 2022




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


AVA Produce Limited

Company Information
for the year ended 31 March 2022







DIRECTORS: Mr S Cagin
Mr C Agcagul



REGISTERED OFFICE: Unit 2
The Britannia Centre
Lenthall Road
Loughton
IG10 3SQ



REGISTERED NUMBER: 07424791 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Altan Kemal FCA FCCA



AUDITORS: Alton & Co
Chartered Accountants
& Statutory Auditors
239-241 Kennington Lane
London
SE11 5QU

AVA Produce Limited (Registered number: 07424791)

Abridged Statement of Financial Position
31 March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 369 -
Property, plant and equipment 5 3,891 211
4,260 211

CURRENT ASSETS
Inventories 318,743 -
Debtors 2,885,430 2,370,355
Cash at bank 114,140 663,743
3,318,313 3,034,098
CREDITORS
Amounts falling due within one year 629,747 551,484
NET CURRENT ASSETS 2,688,566 2,482,614
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,692,826

2,482,825

PROVISIONS FOR LIABILITIES 6 669 40
NET ASSETS 2,692,157 2,482,785

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 2,692,057 2,482,685
SHAREHOLDERS' FUNDS 2,692,157 2,482,785

AVA Produce Limited (Registered number: 07424791)

Abridged Statement of Financial Position - continued
31 March 2022


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 March 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2022 and were signed on its behalf by:




Mr S Cagin - Director



Mr C Agcagul - Director


AVA Produce Limited (Registered number: 07424791)

Notes to the Financial Statements
for the year ended 31 March 2022

1. STATUTORY INFORMATION

AVA Produce Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when customers take delivery of their goods and is derived from the ordinary activities of the business.

The accrual model is used in recognition of grants where grants are matched against the expenditure it is compensating for.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their 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.
Computer equipment - 25% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is on first in first out basis. Net realisable value is the sales value of the stock less any additional cost to sell.


AVA Produce Limited (Registered number: 07424791)

Notes to the Financial Statements - continued
for the year ended 31 March 2022

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Consignment purchases
Goods acquired on consignment are not recognised as the company's purchases until the title of the goods changes to the company; this occurs when the goods are sold.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 2 ) .

AVA Produce Limited (Registered number: 07424791)

Notes to the Financial Statements - continued
for the year ended 31 March 2022

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
Additions 410
At 31 March 2022 410
AMORTISATION
Amortisation for year 41
At 31 March 2022 41
NET BOOK VALUE

At 31 March 2022 369

5. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
COST
At 1 April 2021 1,588
Additions 4,977
At 31 March 2022 6,565
DEPRECIATION
At 1 April 2021 1,377
Charge for year 1,297
At 31 March 2022 2,674
NET BOOK VALUE
At 31 March 2022 3,891
At 31 March 2021 211

6. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax provision 669 40

AVA Produce Limited (Registered number: 07424791)

Notes to the Financial Statements - continued
for the year ended 31 March 2022

6. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2021 40
Timing diff. cap. all. & depr. 629
Balance at 31 March 2022 669

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100

8. RESERVES
Retained
earnings
£   

At 1 April 2021 2,482,685
Profit for the year 209,372
At 31 March 2022 2,692,057

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Altan Kemal FCA FCCA (Senior Statutory Auditor)
for and on behalf of Alton & Co

10. CONTINGENT LIABILITIES

All companies in the group are guarantors under a credit guarantee between Natwest Bank and Village Quality Products Limited. The balance outstanding at year end was nil (2021 - nil).

All companies in the group have guaranteed a loan between Natwest Bank (the lender) and RS Properties London Ltd (a subsidiary in the same group). The balance outstanding at the year end was 13,642,552 (2021 - £14,634,748).

11. PARENT COMPANY

The controlling party is Masca Holding Limited.