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REGISTERED NUMBER: 02895241 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

AVENS LTD

AVENS LTD (REGISTERED NUMBER: 02895241)

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

Chartered Accountants' Report 8

AVENS LTD

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTORS: P Orlikowski
J L Prus
D A Smith
R D Ransley





REGISTERED OFFICE: St Anthony
Church Road
Crowborough
East Sussex
TN6 1BL





REGISTERED NUMBER: 02895241 (England and Wales)





ACCOUNTANTS: BSR Bespoke Chartered Accountants
Linden House
Linden Close
Tunbridge Wells
Kent
TN4 8HH

AVENS LTD (REGISTERED NUMBER: 02895241)

BALANCE SHEET
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 62,287 71,841
Investments 6 316 316
62,603 72,157

CURRENT ASSETS
Debtors 7 1,543,037 759,082
Cash at bank and in hand 833,457 1,142,122
2,376,494 1,901,204
CREDITORS
Amounts falling due within one year 8 704,283 619,679
NET CURRENT ASSETS 1,672,211 1,281,525
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,734,814

1,353,682

CAPITAL AND RESERVES
Called up share capital 1,028 1,028
Share premium 124,841 124,841
Retained earnings 1,608,945 1,227,813
SHAREHOLDERS' FUNDS 1,734,814 1,353,682

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.

AVENS LTD (REGISTERED NUMBER: 02895241)

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 2 February 2024 and were signed on its behalf by:





D A Smith - Director


AVENS LTD (REGISTERED NUMBER: 02895241)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Avens 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue is recognised when it is probable that future economic benefits will flow to the company from the provision of contracts for the sale of services and is measured as the fair value of consideration which the company expects to receive from those transactions. Revenue is recognised from the provision of services, when the value of services provided is delivered to the customer.

When the outcome of a services contract can be estimated reliably, contract revenue and associated expenditure are recognised by reference to the stage of completion of the contract at the reporting date.

When the outcome of a services contract cannot be estimated reliably, contract revenue shall only be recognised to the extent of the amount of associated expenditure incurred and it is probable that the contract revenue will be recoverable.

Provision will be made for all losses arising from a services contract where it is probable that current and future contract expenditure exceeds contract revenue.

Revenue is recognised net of returns and of trade discounts and is shown exclusive of value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2001, has been fully amortised over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - in accordance with the lease term
Fixtures and fittings - 33% on cost and 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Financial instruments
Basic financial instruments are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.


AVENS LTD (REGISTERED NUMBER: 02895241)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued
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.

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 153 (2022 - 146 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 130,000
AMORTISATION
At 1 April 2022
and 31 March 2023 130,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

AVENS LTD (REGISTERED NUMBER: 02895241)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 40,128 11,935 64,515 19,595 136,173
Additions - 9,270 - 770 10,040
Disposals - - (12,834 ) - (12,834 )
At 31 March 2023 40,128 21,205 51,681 20,365 133,379
DEPRECIATION
At 1 April 2022 12,980 6,110 31,556 13,686 64,332
Charge for year 2,006 3,793 7,132 2,230 15,161
Eliminated on disposal - - (8,401 ) - (8,401 )
At 31 March 2023 14,986 9,903 30,287 15,916 71,092
NET BOOK VALUE
At 31 March 2023 25,142 11,302 21,394 4,449 62,287
At 31 March 2022 27,148 5,825 32,959 5,909 71,841

6. FIXED ASSET INVESTMENTS
Other
investme-
nts
£   
COST
At 1 April 2022
and 31 March 2023 316
NET BOOK VALUE
At 31 March 2023 316
At 31 March 2022 316

7. DEBTORS
31.3.23 31.3.22
£    £   
Amounts falling due within one year:
Trade debtors 135,527 69,277
Amounts owed by group undertakings 227,266 103,824
Other debtors 22,091 37,007
Prepayments and accrued income 125,196 116,017
510,080 326,125

AVENS LTD (REGISTERED NUMBER: 02895241)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023


7. DEBTORS - continued
31.3.23 31.3.22
£    £   
Amounts falling due after more than one year:
Debentures 1,032,957 432,957

Aggregate amounts 1,543,037 759,082

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 18,694 15,720
Corporation tax 51,267 164,318
Social security and other taxes 65,489 52,535
Other creditors 83,644 92,430
Directors' loan accounts 19,780 15,954
Accruals and deferred income 465,409 278,722
704,283 619,679

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.23 31.3.22
£    £   
Within one year 105,124 209,396
Between one and five years 182,597 287,721
287,721 497,117

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
AVENS 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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Avens Ltd for the year ended 31 March 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Avens Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Avens Ltd and state those matters that we have agreed to state to the Board of Directors of Avens Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Avens Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Avens Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Avens Ltd. You consider that Avens Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Avens Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BSR Bespoke Chartered Accountants
Linden House
Linden Close
Tunbridge Wells
Kent
TN4 8HH


5 February 2024