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Registered number: 13660553
Ava Talent Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Tax and Advise Ltd
19 The Circle
Queen Elizabeth Street
London
SE1 2JE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13660553
31 October 2023 31 October 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,789 11,723
8,789 11,723
CURRENT ASSETS
Debtors 5 91,590 66,795
Cash at bank and in hand 4,851 9,820
96,441 76,615
Creditors: Amounts Falling Due Within One Year 6 (98,244 ) (93,548 )
NET CURRENT ASSETS (LIABILITIES) (1,803 ) (16,933 )
TOTAL ASSETS LESS CURRENT LIABILITIES 6,986 (5,210 )
NET ASSETS/(LIABILITIES) 6,986 (5,210 )
CAPITAL AND RESERVES
Called up share capital 7 5,000 5,000
Profit and Loss Account 1,986 (10,210 )
SHAREHOLDERS' FUNDS 6,986 (5,210)
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss Maria Angeles Villanueva
Director
30/07/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Ava Talent Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13660553 . The registered office is 19 The Circle, Queen Elizabeth Street, London, SE1 2JE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Office Equipment 25% SLM
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Tangible Assets
Office Equipment
£
Cost
As at 1 November 2022 11,738
As at 31 October 2023 11,738
Depreciation
As at 1 November 2022 15
Provided during the period 2,934
As at 31 October 2023 2,949
Net Book Value
As at 31 October 2023 8,789
As at 1 November 2022 11,723
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5. Debtors
31 October 2023 31 October 2022
£ £
Due within one year
Trade debtors 79,630 52,073
Prepayments and accrued income 113 209
Rent deposit 4,617 4,267
Other Debtors - Susan Walker 1,732 5,000
Creative Product - Loan 5,246 5,246
VAT Recoverable 252 -
91,590 66,795
6. Creditors: Amounts Falling Due Within One Year
31 October 2023 31 October 2022
£ £
Trade creditors 85,893 86,478
Accruals and deferred income - 4,348
Directors' loan accounts 12,351 2,722
98,244 93,548
7. Share Capital
31 October 2023 31 October 2022
£ £
Allotted, Called up and fully paid 5,000 5,000
8. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans to directors:
As at 1 November 2022 Amounts advanced Amounts repaid Amounts written off As at 31 October 2023
£ £ £ £ £
Miss Maria Angeles Villanueva 2,722 9,629 - - 12,351
The above loan is unsecured, interest free and repayable on demand.
9. Ultimate Controlling Party
The company's ultimate controlling party is Ms Maria Angeles Villanuevar by virtue of his ownership of more than 75% of the issued share capital in the company.
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