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REGISTERED NUMBER: 09051173 (England and Wales)







Unaudited Financial Statements for the Year Ended 31 March 2023

for

AVE (1977) Ltd

AVE (1977) Ltd (Registered number: 09051173)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AVE (1977) Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: J Licence
J M Radcliffe
Ms S M Gil-Garcia
S M P Hales





REGISTERED OFFICE: Unit 7-9
Mead Court
Cooper Road
Thornbury
BS35 3UW





REGISTERED NUMBER: 09051173 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY

AVE (1977) Ltd (Registered number: 09051173)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,637 23,756

CURRENT ASSETS
Stocks 5 224,909 231,559
Debtors 6 44,174 55,880
Cash at bank and in hand 138,154 49,720
407,237 337,159
CREDITORS
Amounts falling due within one year 7 243,641 208,813
NET CURRENT ASSETS 163,596 128,346
TOTAL ASSETS LESS CURRENT LIABILITIES 184,233 152,102

PROVISIONS FOR LIABILITIES 5,940 4,276
NET ASSETS 178,293 147,826

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 177,293 146,826
SHAREHOLDERS' FUNDS 178,293 147,826

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

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 17 August 2023 and were signed on its behalf by:





J Licence - Director


AVE (1977) Ltd (Registered number: 09051173)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

AVE (1977) Ltd 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.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on reducing balance

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

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 11 ) .

AVE (1977) Ltd (Registered number: 09051173)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022
and 31 March 2023 29,977 6,605 2,329 38,911
DEPRECIATION
At 1 April 2022 10,523 3,547 1,085 15,155
Charge for year 1,945 764 410 3,119
At 31 March 2023 12,468 4,311 1,495 18,274
NET BOOK VALUE
At 31 March 2023 17,509 2,294 834 20,637
At 31 March 2022 19,454 3,058 1,244 23,756

5. STOCKS
31.3.23 31.3.22
£    £   
Stocks 224,909 231,559

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 43,870 48,209
Tax - 7,078
Prepayments 304 593
44,174 55,880

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 49,097 32,497
Tax 1,199 -
Social security and other taxes 6,927 6,679
VAT 34,124 22,234
Pension creditor 1,937 -
Directors' current accounts 142,420 142,814
Accrued expenses 7,937 4,589
243,641 208,813

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.23 31.3.22
£    £   
Within one year 11,000 11,000
Between one and five years 6,417 17,417
17,417 28,417

AVE (1977) Ltd (Registered number: 09051173)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
800 Ordinary A Shares £1 800 800
200 Ordinary B Shares £1 200 200
1,000 1,000