Registered number
03564873
Avantek Computer Limited
Unaudited Filleted Accounts
30 April 2024
Avantek Computer Limited
Registered number: 03564873
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 22,480 19,911
Current assets
Stocks 51,589 18,550
Debtors 4 293,379 139,547
Cash at bank and in hand 1,085,461 858,524
1,430,429 1,016,621
Creditors: amounts falling due within one year 5 (330,444) (122,240)
Net current assets 1,099,985 894,381
Total assets less current liabilities 1,122,465 914,292
Provisions for liabilities (5,620) (4,978)
Net assets 1,116,845 909,314
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 1,115,845 908,314
Shareholders' funds 1,116,845 909,314
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A Lees
Director
Approved by the board on 9 August 2024
Avantek Computer Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 25% reducing balance
Fixtures, fittings, tools and equipment 25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Fixtures, fittings, tools and equipment Motor vehicles Total
£ £ £
Cost
At 1 May 2023 15,714 53,577 69,291
Additions 12,721 - 12,721
Disposals (1,623) - (1,623)
At 30 April 2024 26,812 53,577 80,389
Depreciation
At 1 May 2023 9,600 39,780 49,380
Charge for the year 6,703 3,449 10,152
On disposals (1,623) - (1,623)
At 30 April 2024 14,680 43,229 57,909
Net book value
At 30 April 2024 12,132 10,348 22,480
At 30 April 2023 6,114 13,797 19,911
4 Debtors 2024 2023
£ £
Trade debtors 285,928 128,966
Other debtors 7,451 10,581
293,379 139,547
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 1 -
Trade creditors 125,711 21,331
Taxation and social security costs 202,465 99,641
Other creditors 2,267 1,268
330,444 122,240
6 Other information
Avantek Computer Limited is a private company limited by shares and incorporated in England. Its registered office is:
Arnesby House
St Peters Road
Arnesby
Leicester
LE8 5WJ
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