Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.trueProject managementfalse97truefalse 07210196 2023-04-01 2024-03-31 07210196 2022-04-01 2023-03-31 07210196 2024-03-31 07210196 2023-03-31 07210196 2022-04-01 07210196 1 2023-04-01 2024-03-31 07210196 d:Director1 2023-04-01 2024-03-31 07210196 e:Buildings 2023-04-01 2024-03-31 07210196 e:Buildings 2024-03-31 07210196 e:Buildings 2023-03-31 07210196 e:Buildings e:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07210196 e:LandBuildings 2024-03-31 07210196 e:LandBuildings 2023-03-31 07210196 e:PlantMachinery 2023-04-01 2024-03-31 07210196 e:PlantMachinery 2024-03-31 07210196 e:PlantMachinery 2023-03-31 07210196 e:PlantMachinery e:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07210196 e:MotorVehicles 2023-04-01 2024-03-31 07210196 e:MotorVehicles 2024-03-31 07210196 e:MotorVehicles 2023-03-31 07210196 e:MotorVehicles e:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07210196 e:OfficeEquipment 2023-04-01 2024-03-31 07210196 e:OfficeEquipment 2024-03-31 07210196 e:OfficeEquipment 2023-03-31 07210196 e:OfficeEquipment e:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07210196 e:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07210196 e:CurrentFinancialInstruments 2024-03-31 07210196 e:CurrentFinancialInstruments 2023-03-31 07210196 e:Non-currentFinancialInstruments 2024-03-31 07210196 e:Non-currentFinancialInstruments 2023-03-31 07210196 e:CurrentFinancialInstruments e:WithinOneYear 2024-03-31 07210196 e:CurrentFinancialInstruments e:WithinOneYear 2023-03-31 07210196 e:Non-currentFinancialInstruments e:AfterOneYear 2024-03-31 07210196 e:Non-currentFinancialInstruments e:AfterOneYear 2023-03-31 07210196 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2024-03-31 07210196 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2023-03-31 07210196 e:ShareCapital 2023-04-01 2024-03-31 07210196 e:ShareCapital 2024-03-31 07210196 e:ShareCapital 2022-04-01 2023-03-31 07210196 e:ShareCapital 2023-03-31 07210196 e:ShareCapital 2022-04-01 07210196 e:RevaluationReserve 2023-04-01 2024-03-31 07210196 e:RevaluationReserve 2024-03-31 07210196 e:RevaluationReserve 1 2023-04-01 2024-03-31 07210196 e:RevaluationReserve 2022-04-01 2023-03-31 07210196 e:RevaluationReserve 2023-03-31 07210196 e:RevaluationReserve 2022-04-01 07210196 e:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 07210196 e:RetainedEarningsAccumulatedLosses 2024-03-31 07210196 e:RetainedEarningsAccumulatedLosses 1 2023-04-01 2024-03-31 07210196 e:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 07210196 e:RetainedEarningsAccumulatedLosses 2023-03-31 07210196 e:RetainedEarningsAccumulatedLosses 2022-04-01 07210196 d:FRS102 2023-04-01 2024-03-31 07210196 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07210196 d:FullAccounts 2023-04-01 2024-03-31 07210196 d:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07210196 e:HirePurchaseContracts e:WithinOneYear 2024-03-31 07210196 e:HirePurchaseContracts e:WithinOneYear 2023-03-31 07210196 e:HirePurchaseContracts e:BetweenOneFiveYears 2024-03-31 07210196 e:HirePurchaseContracts e:BetweenOneFiveYears 2023-03-31 07210196 5 2023-04-01 2024-03-31 07210196 6 2023-04-01 2024-03-31 07210196 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 07210196









AVARO (MIDLANDS) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
AVARO (MIDLANDS) LIMITED
REGISTERED NUMBER: 07210196

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,137,822
1,195,044

Investments
 5 
100,601
400,601

  
1,238,423
1,595,645

Current assets
  

Work in progress
 6 
607,501
357,081

Debtors: amounts falling due within one year
 7 
1,023,378
604,810

Cash at bank and in hand
 8 
-
190,675

  
1,630,879
1,152,566

Creditors: amounts falling due within one year
 9 
(1,043,940)
(862,032)

Net current assets
  
 
 
586,939
 
 
290,534

Total assets less current liabilities
  
1,825,362
1,886,179

Creditors: amounts falling due after more than one year
 10 
(969,418)
(1,010,785)

  

Net assets
  
855,944
875,394


Capital and reserves
  

Called up share capital 
  
13
13

Revaluation reserve
 13 
100,000
400,000

Profit and loss account
 13 
755,931
475,381

  
855,944
875,394


Page 1

 
AVARO (MIDLANDS) LIMITED
REGISTERED NUMBER: 07210196
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 August 2024.




James Michael Downes
Director

The notes on pages 5 to 11 form part of these financial statements.

Page 2

 
AVARO (MIDLANDS) LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2023
13
400,000
475,381
875,394


Comprehensive income for the year

Profit for the year

-
-
355,550
355,550

Reduction in revaluation reserve
-
(300,000)
-
(300,000)


Other comprehensive income for the year
-
(300,000)
-
(300,000)


Total comprehensive income for the year
-
(300,000)
355,550
55,550


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(75,000)
(75,000)


Total transactions with owners
-
-
(75,000)
(75,000)


At 31 March 2024
13
100,000
755,931
855,944


The notes on pages 5 to 11 form part of these financial statements.

Page 3

 
AVARO (MIDLANDS) LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2022
13
400,000
6,238
406,251


Comprehensive income for the year

Profit for the year

-
-
544,143
544,143


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
544,143
544,143


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(75,000)
(75,000)


Total transactions with owners
-
-
(75,000)
(75,000)


At 31 March 2023
13
400,000
475,381
875,394


The notes on pages 5 to 11 form part of these financial statements.

Page 4

 
AVARO (MIDLANDS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Avaro (Midlands) Limited is a private company limited by shares and incorporated in England. 
The company's registered office is Glenfield, Middle Lane, Wythall, Worcestershire B38 0DG.
These financial statements are presented in £ Sterling which is the fiunctional currency of the company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model 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.

Page 5

 
AVARO (MIDLANDS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Plant and machinery
-
10%
on cost
Motor vehicles
-
10%
on cost or 25% reducing balance
Office equipment
-
25%
reducing balance

The assets' 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 or loss.

 
2.7

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Work in progress

Work in progress includes labour and attributable overheads.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 6

 
AVARO (MIDLANDS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







9
7

Page 7

 
AVARO (MIDLANDS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
664,000
534,942
129,463
22,786
1,351,191


Additions
-
16,912
17,995
1,412
36,319


Disposals
-
(1,000)
-
-
(1,000)



At 31 March 2024

664,000
550,854
147,458
24,198
1,386,510



Depreciation


At 1 April 2023
-
137,914
7,870
10,363
156,147


Charge for the year on owned assets
-
55,185
34,897
3,459
93,541


Disposals
-
(1,000)
-
-
(1,000)



At 31 March 2024

-
192,099
42,767
13,822
248,688



Net book value



At 31 March 2024
664,000
358,755
104,691
10,376
1,137,822



At 31 March 2023
664,000
397,028
121,593
12,423
1,195,044




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Freehold
664,000
664,000

664,000
664,000


Page 8

 
AVARO (MIDLANDS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
400,601


Disposals
(300,000)



At 31 March 2024
100,601





6.


Work in progress

2024
2023
£
£

Work in progress
607,501
357,081

607,501
357,081



7.


Debtors

2024
2023
£
£


Trade debtors
392,975
176,407

Amounts owed by group undertakings
615,085
428,403

Other debtors
15,318
-

1,023,378
604,810



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
-
190,675

Less: bank overdrafts
(75,430)
(16,280)

(75,430)
174,395


Page 9

 
AVARO (MIDLANDS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
75,430
16,280

Bank loans
183,975
187,489

Trade creditors
565,288
410,153

Other taxation and social security
120,860
50,192

Obligations under finance lease and hire purchase contracts
96,199
195,098

Other creditors
2,188
2,820

1,043,940
862,032



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
603,733
705,087

Net obligations under finance leases and hire purchase contracts
229,136
194,744

Amounts owed to group undertakings
136,549
110,954

969,418
1,010,785


Page 10

 
AVARO (MIDLANDS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
183,975
187,489


183,975
187,489


Amounts falling due 2-5 years

Bank loans
603,733
705,087


603,733
705,087


787,708
892,576



12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
96,199
195,098

Between 1-5 years
229,136
194,744

325,335
389,842


13.


Reserves

Fair value undistibutable reserve

The company has an undistributable reserve of £100,000 arising from the revaluation of the investment in subsidiary companies.

Profit and loss account

The company has a profit and loss account surplus of £755,931 (2023 £475,381).  

 
Page 11