Company registration number 14160562 (England and Wales)
AVRA CAPITAL LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
AVRA CAPITAL LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
AVRA CAPITAL LTD
BALANCE SHEET
AS AT 30 JUNE 2023
30 June 2023
- 1 -
2023
Notes
$ USD
$ USD
Fixed assets
Investments
4
1,001,302
Current assets
-
Creditors: amounts falling due within one year
5
(1,041,002)
Net current liabilities
(1,041,002)
Net liabilities
(39,700)
Capital and reserves
Called up share capital
125
Profit and loss reserves
(39,825)
Total equity
(39,700)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 4 April 2024 and are signed on its behalf by:
Ms Eik Yen Yeo
Director
Company registration number 14160562 (England and Wales)
AVRA CAPITAL LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 JUNE 2023
- 2 -
Share capital
Profit and loss reserves
Total
Notes
$ USD
$ USD
$ USD
Balance at 9 June 2022
-
0
-
0
-
Period ended 30 June 2023:
Loss and total comprehensive income
-
(39,825)
(39,825)
Issue of share capital
125
-
125
Balance at 30 June 2023
125
(39,825)
(39,700)
AVRA CAPITAL LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023
- 3 -
1
Accounting policies
Company information

Avra Capital Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, Great Titchfield House, 14-18 Great Titchfield Street, London, W1W 8BD.

1.1
Reporting period

The company was incorporated on the 9th June 2022 and as such the financial statements presented are for a long period to 30th June 2023.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in US Dollars, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest $ USD.

The financial statements have been prepared under the historical cost convention, [modified to include certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group, as the company is included within the consolidated financial statements of a larger group.

 

Avra Capital Ltd is a wholly owned subsidiary of Avra International Pte Ltd (Singapore) and the results of Avra Capital Ltd are included in the consolidated financial statements of the ultimate controlling party Avra Group Holdings Ltd (registered office address PO Box 905, Quastisky Building, Road Town, Tortola, VG 1110 , British Virgin Islands).

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

AVRA CAPITAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Judgements and key sources of estimation uncertainty

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 estimate 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.

3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
Number
Total
3
AVRA CAPITAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
- 5 -
4
Fixed asset investments
2023
$ USD
Investment in subsidiary
1,001,302
Movements in fixed asset investments
Shares in subsidiary
$ USD
Cost or valuation
At 9 June 2022
-
Additions
1,001,302
At 30 June 2023
1,001,302
Carrying amount
At 30 June 2023
1,001,302
5
Creditors: amounts falling due within one year
2023
$ USD
Amounts owed to group undertakings
1,030,873
Other creditors
10,129
1,041,002
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

 

The audit report was signed on 5th April 202405 April 2024.

Senior Statutory Auditor:
Andrew Templeton
Statutory Auditor:
Sam Rogoff & Co Ltd
AVRA CAPITAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
- 6 -
7
Related party transactions
Transactions with related parties

 

There was £1,030,873 owed to the parent company, Avra International Pte Ltd (Singapore), at the accounting reference date.

 

During the accounting period, the parent company provided financial support to Avra Capital Ltd. The financial position and performance of Avra Capital Ltd are included within the consolidated accounts of the parent company Avra Group Holdings Ltd, which is registered in the British Virgin Islands.

2023-06-302022-06-09falseCCH SoftwareCCH Accounts Production 2023.300No description of principal activityThis audit opinion is unqualifiedFelix KeckeisMs Eik Yen YeoMr Roman Keckeisfalse141605622022-06-092023-06-30141605622023-06-3014160562core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3014160562core:CurrentFinancialInstruments2023-06-3014160562core:ShareCapital2023-06-3014160562core:RetainedEarningsAccumulatedLosses2023-06-3014160562core:ShareCapital2022-06-0814160562core:RetainedEarningsAccumulatedLosses2022-06-0814160562bus:Director22022-06-092023-06-3014160562core:RetainedEarningsAccumulatedLosses2022-06-092023-06-3014160562core:ShareCapital2022-06-092023-06-3014160562bus:PrivateLimitedCompanyLtd2022-06-092023-06-3014160562bus:SmallCompaniesRegimeForAccounts2022-06-092023-06-3014160562bus:FRS1022022-06-092023-06-3014160562bus:Audited2022-06-092023-06-3014160562bus:Director12022-06-092023-06-3014160562bus:Director32022-06-092023-06-3014160562bus:FullAccounts2022-06-092023-06-30xbrli:purexbrli:sharesiso4217:GBP