REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MARCH 2022 TO 31 AUGUST 2023 |
FOR |
AVYAANS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MARCH 2022 TO 31 AUGUST 2023 |
FOR |
AVYAANS LIMITED |
AVYAANS LIMITED (REGISTERED NUMBER: 09459763) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MARCH 2022 TO 31 AUGUST 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
AVYAANS LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 MARCH 2022 TO 31 AUGUST 2023 |
DIRECTOR: |
REGISTERED OFFICE: | Woodhouse Road |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
364-368 Cranbrook Road |
Gants Hill |
Ilford |
Essex |
IG2 6HY |
AVYAANS LIMITED (REGISTERED NUMBER: 09459763) |
BALANCE SHEET |
31 AUGUST 2023 |
31.8.23 | 28.2.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET ASSETS |
AVYAANS LIMITED (REGISTERED NUMBER: 09459763) |
BALANCE SHEET - continued |
31 AUGUST 2023 |
31.8.23 | 28.2.22 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings | 11 |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
AVYAANS LIMITED (REGISTERED NUMBER: 09459763) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 MARCH 2022 TO 31 AUGUST 2023 |
1. | STATUTORY INFORMATION |
Avyaans Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured as the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being |
amortised evenly over its estimated useful life of 20 years. |
Tangible fixed assets |
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
Depreciation is charged so as to allocate the costs of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below. |
Depreciation is provided on the following basis: |
Plant and Machinery - 10% Straight Line |
Leasehold Building - 10% Straight Line |
The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit and loss. |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. |
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit and loss |
AVYAANS LIMITED (REGISTERED NUMBER: 09459763) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 MARCH 2022 TO 31 AUGUST 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period 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 period 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. |
Financial instrument |
Debtors |
Basic financial assets, including trade and other debtors, 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, less any impairment. |
Cash and Cash Equivalents |
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial |
institutions, and other short-term highly liquid investments that mature in no more than three months |
from the date of acquisition and that are readily convertible to known amounts of cash with |
insignificant risk of change in value. |
Creditors |
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from |
related parties, 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 suture |
payments discounted at a market rate of interest. Such instruments are subsequently carried at |
amortised cost using the effective interest method, less and impairment |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2022 - |
AVYAANS LIMITED (REGISTERED NUMBER: 09459763) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 MARCH 2022 TO 31 AUGUST 2023 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 March 2022 |
Disposals | ( |
) |
At 31 August 2023 |
AMORTISATION |
At 1 March 2022 |
Eliminated on disposal | ( |
) |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 28 February 2022 |
5. | TANGIBLE FIXED ASSETS |
Short | Plant and |
leasehold | machinery | Totals |
£ | £ | £ |
COST |
At 1 March 2022 |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 August 2023 |
DEPRECIATION |
At 1 March 2022 |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 28 February 2022 |
AVYAANS LIMITED (REGISTERED NUMBER: 09459763) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 MARCH 2022 TO 31 AUGUST 2023 |
6. | STOCKS |
31.8.23 | 28.2.22 |
£ | £ |
Stocks |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.23 | 28.2.22 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.23 | 28.2.22 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.8.23 | 28.2.22 |
£ | £ |
Bank loans |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.8.23 | 28.2.22 |
value: | £ | £ |
Ordinary Share | 1 | 1 | 1 |
AVYAANS LIMITED (REGISTERED NUMBER: 09459763) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 MARCH 2022 TO 31 AUGUST 2023 |
11. | RESERVES |
Retained |
earnings |
£ |
At 1 March 2022 |
Profit for the period |
At 31 August 2023 |