Company Registration No. 03268873 (England and Wales)
AVV SOLUTIONS LIMITED
Unaudited accounts
for the year ended 30 April 2023
AVV SOLUTIONS LIMITED
Unaudited accounts
Contents
AVV SOLUTIONS LIMITED
Company Information
for the year ended 30 April 2023
Directors
MR RAYMOND ARNOLD WILLS
MRS JULIE TINCKNELL
MR IONUT SUIU
Secretary
MRS PATRICIA ANNE WILLS
Company Number
03268873 (England and Wales)
Registered Office
UNIT 3 EASTMAN WAY
HEMEL HEMPSTEAD
HERTFORDSHIRE
HP2 7DU
ENGLAND
Accountants
RMR Partnership LLP
3rd Floor, Vyman House
104 College Road
Harrow
Middlesex
HA1 1BQ
AVV SOLUTIONS LIMITED
Statement of financial position
as at 30 April 2023
Tangible assets
100,782
61,939
Inventories
257,689
50,325
Debtors
3,520,484
2,975,162
Cash at bank and in hand
8,373
540,334
Creditors: amounts falling due within one year
(2,107,330)
(1,849,351)
Net current assets
1,679,216
1,716,470
Total assets less current liabilities
1,779,998
1,778,409
Creditors: amounts falling due after more than one year
(112,500)
(162,500)
Net assets
1,667,498
1,615,909
Called up share capital
11,856
11,856
Profit and loss account
1,655,642
1,604,053
Shareholders' funds
1,667,498
1,615,909
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2023 and were signed on its behalf by
MR RAYMOND ARNOLD WILLS
Director
Company Registration No. 03268873
AVV SOLUTIONS LIMITED
Notes to the Accounts
for the year ended 30 April 2023
AVV SOLUTIONS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 03268873. The registered office is UNIT 3 EASTMAN WAY, HEMEL HEMPSTEAD, HERTFORDSHIRE, HP2 7DU, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.
There were no judgements and estimates that had significant effect on the amounts recognised in the financial statements.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
No depreciation is provided
Plant & machinery
15% on reducing balance
Motor vehicles
25% on reducing balance
Fixtures & fittings
15% on reducing balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.
AVV SOLUTIONS LIMITED
Notes to the Accounts
for the year ended 30 April 2023
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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 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.
The directors have declared a dividend of £20000 (£2022: Nil) for the year.
AVV SOLUTIONS LIMITED
Notes to the Accounts
for the year ended 30 April 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 May 2022
71,381
52,791
73,697
197,869
Additions
35,661
14,729
8,169
58,559
At 30 April 2023
107,042
67,520
81,866
256,428
At 1 May 2022
52,268
44,268
39,394
135,930
Charge for the year
8,216
5,129
6,371
19,716
At 30 April 2023
60,484
49,397
45,765
155,646
At 30 April 2023
46,558
18,123
36,101
100,782
At 30 April 2022
19,113
8,523
34,303
61,939
Amounts falling due within one year
Trade debtors
38,229
107,686
Amounts due from group undertakings etc.
1,555
1,405
Deferred tax asset
67,340
68,984
Accrued income and prepayments
145,662
199,066
Other debtors
2,751,089
2,093,395
Amounts falling due after more than one year
Amounts due from group undertakings etc.
446,908
423,208
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
511,554
176,503
Trade creditors
1,363,788
930,982
Taxes and social security
59,134
40,098
Loans from directors
164,588
190,188
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
112,500
162,500
AVV SOLUTIONS LIMITED
Notes to the Accounts
for the year ended 30 April 2023
8
Deferred taxation
2023
2022
Accelerated capital allowances
(23,039)
-
Tax losses carried forward
(68,984)
(76,874)
Other deferred taxation
24,683
7,890
Provision at start of year
(68,984)
(76,874)
Charged to the profit and loss account
1,644
7,890
Provision at end of year
(67,340)
(68,984)
Allotted, called up and fully paid:
9,960 A Ordinary shares of £1 each
9,960
9,960
1,896 B Ordinary shares of £1 each
1,896
1,896
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Transactions with related parties
Directors Loan
At the reporting date, Mr R A Wills was owed £164,588 (2022: £190,188) by the company. This is an unsecured, interest free loan repayable on demand.
AVV Properties
AVV Properties Ltd is a related company incorporated in England and Wales which is controlled by the directors of AVV Solutions Ltd.
At the reporting date, AVV Properties Ltd owed £446,908 (2022: £423,208) to the company. This includes loan interest charged at the market rate of 4% per annum.
AVV Solutions Training Centre Ltd
AVV Solutions Training Centre Ltd is a related company incorporated in England and Wales which is controlled by the directors of AVV Solutions Ltd.
At the reporting date, AVV Solutions Training Centre Ltd owed £1,555 (2022: £1,405) to the company. This is an unsecured interest free loan which is repayable on demand.
The ultimate controlloing party is Mr Raymond Arnold Wills.
He holds more than 64% of the issued share capital of the company.
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Average number of employees
During the year the average number of employees was 23 (2022: 28).