AVR Transcription Limited
Registered number: 04778259
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,832 4,790
Current assets
Debtors 4 193,113 145,297
Cash at bank and in hand 112,834 251,530
305,947 396,827
Creditors: amounts falling due within one year 5 (72,775) (126,867)
Net current assets 233,172 269,960
Total assets less current liabilities 237,004 274,750
Provisions for liabilities (590) (590)
Net assets 236,414 274,160
Capital and reserves
Called up share capital 100 100
Profit and loss account 236,314 274,060
Shareholders' funds 236,414 274,160
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
AR Fox
Director
Approved by the board on 29 September 2023
AVR Transcription Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
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.
Tangible fixed assets
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:
Plant and machinery 20% Reducing balance
Debtors
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.
Creditors
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.
Taxation
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 44 33
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 81,957
At 31 March 2023 81,957
Depreciation
At 1 April 2022 77,167
Charge for the year 958
At 31 March 2023 78,125
Net book value
At 31 March 2023 3,832
At 31 March 2022 4,790
4 Debtors 2023 2022
£ £
Trade debtors 192,653 144,837
Other debtors 460 460
193,113 145,297
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 14,325 4,023
Corporation tax - 2,347
Other taxes and social security costs 58,398 56,673
Other creditors 52 63,824
72,775 126,867
6 Share capital Nominal 2023 2023 2022
value Number £ £
Allotted, called up and fully paid:
A Ordinary shares £1 each 50 50 50
B Ordinary shares £1 each 50 50 50
100 100
7 Dividends 2023 2022
£ £
Dividends for which the company became liable during the year :
Dividends paid 5,000 15,000
5,000 15,000
8 Controlling party
The controlling party is AR Fox and D Fox, the two directors, by virtue of their combined ownership of 100% of the issued share capital of the company.
9 Other information
AVR Transcription Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Turton Suite, Paragon Business Park
Chorley New Road
Horwich
Bolton
BL6 6HG
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