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Registration number: 07065044

Avoin Maa Surveys Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2022

 

Avoin Maa Surveys Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Avoin Maa Surveys Limited

Company Information

Directors

Mr Scott Wilson

Ms Zoe Wilson

Company secretary

Mr Scott Wilson

Registered office

Wheatside
Dark Lane
Barnsley
South Yorkshire
S70 6RE

Accountants

Upton & Co Accountants Limited
Chartered Certified Accountants
182 Pontefract Road
Cudworth
Barnsley
South Yorkshire
S72 8BE

 

Avoin Maa Surveys Limited

(Registration number: 07065044)
Balance Sheet as at 30 November 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

286,343

257,339

Current assets

 

Debtors

5

121,204

110,250

Cash at bank and in hand

 

21,201

7,097

 

142,405

117,347

Creditors: Amounts falling due within one year

6

(179,162)

(215,125)

Net current liabilities

 

(36,757)

(97,778)

Total assets less current liabilities

 

249,586

159,561

Creditors: Amounts falling due after more than one year

6

(49,681)

(37,099)

Net assets

 

199,905

122,462

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

199,903

122,460

Shareholders' funds

 

199,905

122,462

For the financial year ending 30 November 2022 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 accounts 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 accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 October 2023 and signed on its behalf by:
 

 

Avoin Maa Surveys Limited

(Registration number: 07065044)
Balance Sheet as at 30 November 2022

.........................................
Mr Scott Wilson
Company secretary and director

 

Avoin Maa Surveys Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Wheatside
Dark Lane
Barnsley
South Yorkshire
S70 6RE
United Kingdom

These financial statements were authorised for issue by the Board on 16 October 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

 

Avoin Maa Surveys Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

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 current 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.

Tangible assets

Tangible assets are stated in the balance sheet 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

Plant & Machinery

20% Reducing Balance Method

Motor Vehicles

20% Reducing Balance Method

Office Equipment

20% Reducing Balance Method

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.

 

Avoin Maa Surveys Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Avoin Maa Surveys Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Avoin Maa Surveys Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2021 - 10).

 

Avoin Maa Surveys Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2021

18,797

459,892

70,503

549,192

Additions

12,799

87,250

13,968

114,017

Disposals

-

-

(13,968)

(13,968)

At 30 November 2022

31,596

547,142

70,503

649,241

Depreciation

At 1 December 2021

7,947

224,949

58,957

291,853

Charge for the year

4,298

64,438

2,309

71,045

At 30 November 2022

12,245

289,387

61,266

362,898

Carrying amount

At 30 November 2022

19,351

257,755

9,237

286,343

At 30 November 2021

10,850

234,943

11,546

257,339

5

Debtors

2022
£

2021
£

Trade debtors

121,204

110,250

121,204

110,250

 

Avoin Maa Surveys Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

8

109,245

101,005

Trade creditors

 

-

1,938

Taxation and social security

 

46,979

65,658

Accruals and deferred income

 

12,494

16,490

Other creditors

 

10,444

30,034

 

179,162

215,125

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

8

49,681

37,099

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

8

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

25,833

35,833

Hire purchase contracts

13,848

1,266

Other borrowings

10,000

-

49,681

37,099

 

Avoin Maa Surveys Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

2022
£

2021
£

Current loans and borrowings

Bank borrowings

10,000

13,188

Hire purchase contracts

9,680

4,992

Other borrowings

89,565

82,825

109,245

101,005

9

Dividends

Interim dividends paid

   

2022
£

 

2021
£

Interim dividend of £50,000.00 per each Ordinary

 

100,000

 

100,000

         

Interim dividends paid

   

2022
£

 

2021
£

Interim dividend of £50,000 per each Ordinary

 

100,000

 

100,000

         

10

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2022
£

2021
£

Remuneration

18,699

18,438