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REGISTERED NUMBER: 06496668 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Avid Projects Ltd

Avid Projects Ltd (Registered number: 06496668)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

Avid Projects Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: B R Norton
Mrs S Norton
F Norton





SECRETARY: J P Hakim FCA





REGISTERED OFFICE: Chobham Farm
Sandpit Hall Road
Chobham
Woking
Surrey
GU24 8HA





REGISTERED NUMBER: 06496668 (England and Wales)





ACCOUNTANTS: Clements Hakim
26 College Road
Epsom
Surrey
KT17 4EY

Avid Projects Ltd (Registered number: 06496668)

Balance Sheet
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 919,150 922,509

CURRENT ASSETS
Debtors 5 3,930,591 5,381,355
Cash at bank and in hand 1,290,087 202,405
5,220,678 5,583,760
CREDITORS
Amounts falling due within one year 6 3,591,031 4,122,947
NET CURRENT ASSETS 1,629,647 1,460,813
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,548,797

2,383,322

CAPITAL AND RESERVES
Called up share capital 500,000 500,000
Retained earnings 2,048,797 1,883,322
SHAREHOLDERS' FUNDS 2,548,797 2,383,322

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.

Avid Projects Ltd (Registered number: 06496668)

Balance Sheet - continued
31 March 2023


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 18 November 2023 and were signed on its behalf by:




B R Norton - Director



Mrs S Norton - Director


Avid Projects Ltd (Registered number: 06496668)

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


1. STATUTORY INFORMATION

Avid Projects 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 annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year comprises current taxation but no deferred tax has been provided. 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 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 has not been provided for.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Avid Projects Ltd (Registered number: 06496668)

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


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 918,422 35,942 954,364
DEPRECIATION
At 1 April 2022 - 31,855 31,855
Charge for year - 3,359 3,359
At 31 March 2023 - 35,214 35,214
NET BOOK VALUE
At 31 March 2023 918,422 728 919,150
At 31 March 2022 918,422 4,087 922,509

Included in cost of land and buildings is freehold land of £ 918,422 (2022 - £ 918,422 ) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31/3/23 31/3/22
£    £   
Trade debtors 4,805 2,403
Amounts owed by group undertakings 3,920,916 5,378,422
Other debtors 4,870 530
3,930,591 5,381,355

Avid Projects Ltd (Registered number: 06496668)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31/3/23 31/3/22
£    £   
Bank loans and overdrafts 350,814 50,000
Trade creditors 47,986 20,163
Amounts owed to group undertakings 343,064 -
Taxation and social security 61,970 255,000
Other creditors 2,787,197 3,797,784
3,591,031 4,122,947

Avid Projects Ltd

Report of the Accountants to the Directors of
Avid Projects Ltd


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2023 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Clements Hakim
26 College Road
Epsom
Surrey
KT17 4EY


18 November 2023