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Registered Number: 09746889
England and Wales

 

 

 


Report of the Director and Unaudited Financial Statements

for the year ended 31 December 2022

for

AVIDA LABS LIMITED

 
 
Notes
 
2022
£
  2021
£
Fixed assets
Intangible fixed assets 2 25,267    14,801 
Tangible fixed assets 3 180,318    453,914 
205,585    468,715 
 
Current assets
Inventories 4 266,033    286,105 
Debtors 5 149,899    559,717 
Cash at bank and in hand 29,560    161,988 
445,492    1,007,810 
Creditors: amount falling due within one year 6 (616,481)   (1,047,706)
Net current assets (170,989)   (39,896)
 
Total assets less current liabilities 34,596    428,819 
Creditors: amount falling due after more than one year 7   (254,528)
Net assets 34,596    174,291 
 

Capital and reserves
Called up share capital 1,000    1,000 
Profit and loss account 8 33,596    173,291 
Shareholders fund 34,596    174,291 
 
For the year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the companies act 2006.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime of Part 15 of the Companies Act 2006.
Signed on behalf of the board of directors:


----------------------------------
William Joseph Handley
Director

Date approved: 15 January 2024
1
Statutory Information
AVIDA LABS LIMITED is a private limited company, limited by shares, domiciled in England and Wales, registration number 09746889, registration address Unit 2a, Genesis House, Merrow Lane, Guildford, GU4 7BN, England.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Financial Reporting Standard for Smaller Entities (effective January 2016).
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Leasehold Property25% Straight Line
Plant and Machinery25% Straight Line
Fixtures and Fittings25% Straight Line
Computer Equipment25% Straight Line
2.

Intangible fixed assets

Cost or Valuation Computer software   Total
  £   £
At 01 January 2022 42,444    42,444 
Additions 13,709    13,709 
Disposals  
At 31 December 2022 56,153    56,153 
Amortisation
At 01 January 2022 27,643    27,643 
Charge for year 3,243    3,243 
On disposals  
At 31 December 2022 30,886    30,886 
Net book values
At 31 December 2022 25,267    25,267 
At 31 December 2021 14,801    14,801 

3.

Tangible fixed assets

Cost or Valuation Leasehold Property   Plant and Machinery   Fixtures and Fittings   Computer Equipment   Office Equipment   Total
  £   £   £   £   £   £
At 01 January 2022 264,976    156,279    1,952    6,515    58,063    487,785 
Additions 9,363    35,955      404    13,323    59,045 
Disposals (248,415)           (248,415)
At 31 December 2022 25,924    192,234    1,952    6,919    71,386    298,415 
Depreciation
At 01 January 2022 16,561      267    1,131    15,912    33,871 
Charge for year   47,983    435    2,056    33,752    84,226 
On disposals          
At 31 December 2022 16,561    47,983    702    3,187    49,664    118,097 
Net book values
Closing balance as at 31 December 2022 9,363    144,251    1,250    3,732    21,722    180,318 
Opening balance as at 01 January 2022 248,415    156,279    1,685    5,384    42,151    453,914 

4.

Inventories

2022
£
  2021
£
Stocks 266,033    286,105 
266,033    286,105 
5.

Debtors: amounts falling due within one year

2022
£
  2021
£
Trade debtors 60,447    448,676 
Amazon Reserve 17,238    16,731 
Wages & salaries control   (210)
Accruals (10,075)  
Prepayments 59,183    83,950 
Corporation tax 23,106   
Vat   10,570 
149,899    559,717 
6.

Creditors: amount falling due within one year

2022
£
  2021
£
Trade creditors 159,415    495,582 
Accrued expenses 1,558    10,074 
Other creditors (199)  
Vapouriz Loan   2,867 
Avida Global Inter-Company Account 168,967    (186,658)
Black Arrow & Amarda_Less than one year   50,928 
Lloyds HP 26,784    100,507 
Rounding off (9)   10 
Brett Horth Loan 159,167    175,000 
Website Reserves/Provisions (5,567)  
Paul Parkinson Loan 64,500   
Time Vendor Forklift Lease Payments (4,216)  
Black Arrow & Amarda (193,907)  
Avida Medical Inter-co 64,000   
Loan Account - Avida 50,000   
Debt for Minibloc Machine & Infinity Gradient System 71,816   
Investment Monies (289,502)   365,314 
Wages & salaries control account 62,068   
Customer Purchase Contra Account 798   
Portman Asset Finance 30,086   
100k Federal Capital Loan 83,333   
50k Portman Commercial Finance Loan 45,833   
Corporation tax   13,300 
Social security & other tax 91,871    20,782 
Vat 29,685   
616,481    1,047,706 
7.

Creditors: amount falling due after more than one year

2022
£
  2021
£
Black Arrow & Amarda_More than one year   254,528 
  254,528 
8.

Profit and loss account

  2022
£
Balance at 01 January 2022 173,291 
Loss for the year (139,695)
Balance at 31 December 2022 33,596 

9.

Average number of employees

Average number of employees during the year was 6  (2021: 6).
2