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REGISTERED NUMBER: 06270220 (England and Wales)















Unaudited Financial Statements for the Year Ended 29th June 2023

for

AVK Ltd

AVK Ltd (Registered number: 06270220)






Contents of the Financial Statements
for the Year Ended 29th June 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


AVK Ltd (Registered number: 06270220)

Balance Sheet
29th June 2023

29.6.23 29.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 84,650 -
Investment property 5 127,000 127,000
211,650 127,000

CURRENT ASSETS
Debtors 6 5,729 106,625
Cash at bank 574,002 553,348
579,731 659,973
CREDITORS
Amounts falling due within one year 7 170,591 213,753
NET CURRENT ASSETS 409,140 446,220
TOTAL ASSETS LESS CURRENT
LIABILITIES

620,790

573,220

PROVISIONS FOR LIABILITIES 16,083 1,710
NET ASSETS 604,707 571,510

CAPITAL AND RESERVES
Called up share capital 8 193 190
Retained earnings 604,514 571,320
SHAREHOLDERS' FUNDS 604,707 571,510

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th June 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.

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 11th April 2024 and were signed on its behalf by:



Dr V Kapoor - Director


AVK Ltd (Registered number: 06270220)

Notes to the Financial Statements
for the Year Ended 29th June 2023

1. COMPANY INFORMATION

AVK Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06270220

Registered office: First Floor
49 Peter Street
Manchester
M2 3NG

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the provision of professional services is recognised on delivery of the service.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment loss.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Fixtures and fittings - 25% on cost
Motor Vehicles - 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.

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.

AVK Ltd (Registered number: 06270220)

Notes to the Financial Statements - continued
for the Year Ended 29th June 2023

2. ACCOUNTING POLICIES - continued

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 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 30th June 2022 2,094 - 2,094
Additions - 88,330 88,330
At 29th June 2023 2,094 88,330 90,424
DEPRECIATION
At 30th June 2022 2,094 - 2,094
Charge for year - 3,680 3,680
At 29th June 2023 2,094 3,680 5,774
NET BOOK VALUE
At 29th June 2023 - 84,650 84,650
At 29th June 2022 - - -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 30th June 2022
and 29th June 2023 127,000
NET BOOK VALUE
At 29th June 2023 127,000
At 29th June 2022 127,000

Investment property consists of residential property. The property was originally shown at cost and is adjusted to fair value of the asset at the year end using the current resale value of similar properties in the same area and in similar condition.

Fair value at 29th June 2023 is represented by:
£   
Valuation in 2023 127,000

AVK Ltd (Registered number: 06270220)

Notes to the Financial Statements - continued
for the Year Ended 29th June 2023

6. DEBTORS
29.6.23 29.6.22
£    £   
Amounts falling due within one year:
Trade debtors 4,988 105,352
Other debtors 601 601
Prepayments 140 137
5,729 106,090

Amounts falling due after more than one year:
Other debtors - 535

Aggregate amounts 5,729 106,625

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.6.23 29.6.22
£    £   
Corporation tax payable 14,940 (182 )
Other creditors - 719
Directors' current accounts 155,282 212,877
Accruals and deferred income 368 340
Accrued expenses 1 (1 )
170,591 213,753

8. CALLED UP SHARE CAPITAL

**ERROR - CONFLICTS FOUND BETWEEN POSTINGS AND SHARE REGISTER - PLEASE REVIEW EXCEPTION REPORT (EXR).


Allotted, issued and fully paid:
Number: Class: Nominal 29.6.23 29.6.22
value: £    £   
100 Ordinary A £1 100 100
50 Ordinary B £1 50 90
25 Ordinary C £1 25 -
10 Ordinary D £1 10 -
5 Ordinary E £1 5 -
1 Ordinary F £1 1 -
1 Ordinary G £1 1 -
1 Ordinary H £1 1 -
193 190

The following shares were issued during the year for cash at par :

1 Ordinary F share of £1
1 Ordinary G share of £1
1 Ordinary H share of £1

AVK Ltd (Registered number: 06270220)

Notes to the Financial Statements - continued
for the Year Ended 29th June 2023

8. CALLED UP SHARE CAPITAL - continued

The Ordinary A shares confer the holders the right to vote upon any resolution proposed at any general meeting of the company.

The Ordinary B shares, Ordinary C shares, Ordinary D shares, Ordinary E shares, Ordinary F shares, Ordinary G shares and Ordinary H shares do not confer on the holders the right to vote upon any resolution proposed at any general meeting of the company.

The A, B, C, D, E, F, G and H shares rank pari passu in respect of dividend and capital distribution rights.

9. DIRECTORS' ADVANCES AND CREDITS

The following advances and credits to a director subsisted during the years ended 29th June 2023 and 29th June 2022:

29.6.23 29.6.22
£    £   
Dr V Kapoor
Balance outstanding at start of year (212,877 ) (242,417 )
Amounts advanced 168,701 74,169
Amounts repaid (111,107 ) (44,629 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (155,283 ) (212,877 )

The loan is repayable on demand and no interest was charged during the year.

10. CONTROL

The ultimate controlling party is Dr V Kapoor by virtue of holding 100% of the voting share capital

11. REMUNERATION TRUST

The company has made contributions during the accounting period to a remuneration trust amounting to £337,500 (2022: £499,500).The terms of the trust are set out in the trust deed executed by the company and the original trustees.