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Company No: 13496909 (England and Wales)

AVON SEQUESTECH (UK) LTD

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

AVON SEQUESTECH (UK) LTD

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

AVON SEQUESTECH (UK) LTD

STATEMENT OF FINANCIAL POSITION

As at 31 July 2023
AVON SEQUESTECH (UK) LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 July 2023
Note 31.07.2023 31.07.2022
£ £
Current assets
Debtors 3 444 0
Cash at bank and in hand 4 203 7,818
647 7,818
Creditors: amounts falling due within one year 5 ( 1,477) ( 5,824)
Net current (liabilities)/assets (830) 1,994
Total assets less current liabilities (830) 1,994
Net (liabilities)/assets ( 830) 1,994
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 930 ) 1,894
Total shareholder's (deficit)/funds ( 830) 1,994

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Avon Sequestech (UK) Ltd (registered number: 13496909) were approved and authorised for issue by the Director. They were signed on its behalf by:

T Hammett
Director

18 April 2024

AVON SEQUESTECH (UK) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
AVON SEQUESTECH (UK) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Avon Sequestech (UK) Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

2. Employees

Year ended
31.07.2023
Period from
06.07.2021 to
31.07.2022
Number Number
Monthly average number of persons employed by the company during the year, including the director 1 1

3. Debtors

31.07.2023 31.07.2022
£ £
Corporation tax 444 0

4. Cash and cash equivalents

31.07.2023 31.07.2022
£ £
Cash at bank and in hand 203 7,818

5. Creditors: amounts falling due within one year

31.07.2023 31.07.2022
£ £
Taxation and social security 0 444
Other creditors 1,477 5,380
1,477 5,824