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COMPANY REGISTRATION NUMBER: 13736089
Avita Developments (Snargate) Ltd
Filleted Unaudited Financial Statements
30 November 2023
Avita Developments (Snargate) Ltd
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
Current assets
Stocks
96,931
54,706
Debtors
4
3,536
13,092
Cash at bank and in hand
1,744
33,790
---------
---------
102,211
101,588
Creditors: amounts falling due within one year
5
104,947
103,180
---------
---------
Net current liabilities
2,736
1,592
-------
-------
Total assets less current liabilities
( 2,736)
( 1,592)
-------
-------
Net liabilities
( 2,736)
( 1,592)
-------
-------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 2,738)
( 1,594)
-------
-------
Shareholders deficit
( 2,736)
( 1,592)
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 8 April 2024 , and are signed on behalf of the board by:
Mr C D Lockhart
Mr N Desmond
Director
Director
Company registration number: 13736089
Avita Developments (Snargate) Ltd
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 6-8 Dyer Street, Cirencester, Glos, GL7 2PF, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Debtors
2023
2022
£
£
Other debtors
3,536
13,092
-------
--------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
40,000
Amounts owed to group undertakings and undertakings in which the company has a participating interest
104,401
62,700
Other creditors
546
480
---------
---------
104,947
103,180
---------
---------
6. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr C D Lockhart
107
107
Mr N Desmond
1
1
----
----
----
----
108
108
----
----
----
----
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr C D Lockhart
1,001
( 894)
107
Mr N Desmond
1
1
----
-------
----
----
1,002
( 894)
108
----
-------
----
----