Caseware UK (AP4) 2022.0.179 2022.0.179 11No description of principal activity122022-04-01falsetruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00252941 2022-04-01 2023-03-31 00252941 2021-04-01 2022-03-31 00252941 2023-03-31 00252941 2022-03-31 00252941 c:Director2 2022-04-01 2023-03-31 00252941 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 00252941 d:Buildings d:LongLeaseholdAssets 2023-03-31 00252941 d:Buildings d:LongLeaseholdAssets 2022-03-31 00252941 d:PlantMachinery 2022-04-01 2023-03-31 00252941 d:PlantMachinery 2023-03-31 00252941 d:PlantMachinery 2022-03-31 00252941 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00252941 d:FurnitureFittings 2022-04-01 2023-03-31 00252941 d:FurnitureFittings 2023-03-31 00252941 d:FurnitureFittings 2022-03-31 00252941 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00252941 d:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 00252941 d:OtherPropertyPlantEquipment 2023-03-31 00252941 d:OtherPropertyPlantEquipment 2022-03-31 00252941 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00252941 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 00252941 d:CurrentFinancialInstruments 2023-03-31 00252941 d:CurrentFinancialInstruments 2022-03-31 00252941 d:Non-currentFinancialInstruments 2023-03-31 00252941 d:Non-currentFinancialInstruments 2022-03-31 00252941 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00252941 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 00252941 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 00252941 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 00252941 d:ShareCapital 2023-03-31 00252941 d:ShareCapital 2022-03-31 00252941 d:RetainedEarningsAccumulatedLosses 2023-03-31 00252941 d:RetainedEarningsAccumulatedLosses 2022-03-31 00252941 c:FRS102 2022-04-01 2023-03-31 00252941 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 00252941 c:FullAccounts 2022-04-01 2023-03-31 00252941 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 00252941 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 00252941










A.V.A.LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

For the Year Ended 31 March 2023

 
A.V.A.LIMITED
Registered number: 00252941

STATEMENT OF FINANCIAL POSITION
As at 31 March 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible Fixed Assets
 4 
17,305
20,645

  
17,305
20,645

Current assets
  

Stocks
 5 
367,960
307,788

Debtors: amounts falling due within one year
 6 
254,969
231,743

Cash at bank and in hand
  
16,617
114,116

  
639,546
653,647

Creditors: amounts falling due within one year
 7 
(176,895)
(183,020)

Net current assets
  
 
 
462,651
 
 
470,627

Total assets less current liabilities
  
479,956
491,272

Creditors: amounts falling due after more than one year
 8 
(25,833)
(35,833)

  

Net assets
  
454,123
455,439


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Profit and loss account
  
444,123
445,439

  
454,123
455,439


Page 1

 
A.V.A.LIMITED
Registered number: 00252941
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
As at 31 March 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






................................................
S R Pentony
Director

Date: 9 October 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
A.V.A.LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2023

1.


General information

AVA Limited (00252941) is a private company limited by shares, incorporated in England & Wales. Its registered office is Unit 1 Monkton Park, Farnham Trading Estate, Farnham, Surrey, GU9 9PA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 3

 
A.V.A.LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
A.V.A.LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2023

2.Accounting policies (continued)

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

S/Term Leasehold Property
-
10% straight line
Plant & machinery
-
2 to 10 years straight line
Fixtures & fittings
-
10 to 50% straight line
Other fixed assets
-
10% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
A.V.A.LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2023

2.Accounting policies (continued)

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2022 - 11).

Page 6

 
A.V.A.LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2023

4.


Tangible fixed assets





S/Term Leasehold Property
Plant & machinery
Fixtures & fittings
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
105,545
470,988
138,212
276,111
990,856


Additions
-
1,915
3,472
3,102
8,489


Disposals
-
-
(5,522)
-
(5,522)



At 31 March 2023

105,545
472,903
136,162
279,213
993,823



Depreciation


At 1 April 2022
105,545
467,715
135,806
261,145
970,211


Charge for the year on owned assets
-
2,170
3,053
6,606
11,829


Disposals
-
-
(5,522)
-
(5,522)



At 31 March 2023

105,545
469,885
133,337
267,751
976,518



Net book value



At 31 March 2023
-
3,018
2,825
11,462
17,305



At 31 March 2022
-
3,273
2,406
14,966
20,645


5.


Stocks

2023
2022
£
£

Raw materials and consumables
321,541
267,937

Work in progress (goods to be sold)
1,408
1,344

Finished goods and goods for resale
45,011
38,507

367,960
307,788


Page 7

 
A.V.A.LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2023

6.


Debtors

2023
2022
£
£


Trade debtors
163,293
139,112

Other debtors
18,328
14,250

Prepayments and accrued income
73,348
78,381

254,969
231,743



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
9,026
25,201

Bank loans
10,000
10,000

Trade creditors
111,573
79,724

Corporation tax
12
189

Other taxation and social security
6,051
12,875

Other creditors
620
256

Accruals and deferred income
39,613
54,775

176,895
183,020



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
25,833
35,833


 
Page 8