Registered number
05376095
Avidek Limited
Filleted Accounts
31 March 2024
Avidek Limited
Registered number: 05376095
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 114,946 114,946
Current assets
Stocks 9,250 12,050
Debtors 4 - 9,250
Cash at bank and in hand 114,893 46,021
124,143 67,321
Creditors: amounts falling due within one year 5 (56,863) (8,442)
Net current assets 67,280 58,879
Net assets 182,226 173,825
Capital and reserves
Called up share capital 100 100
Profit and loss account 182,126 173,725
Shareholders' funds 182,226 173,825
The director is 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 director acknowledges his 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 Hillen Shah
Director
Approved by the board on 8 July 2024
Avidek Limited
Notes to the Accounts
for the year ended 31 March 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.
Investment property
Investment properties are held to earn rental income and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on a ongoing basis are measured at a fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit or loss in the period in which they arise.
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Investments Investment
property
£
Cost
At 1 April 2023 114,946
At 31 March 2024 114,946
4 Debtors 2024 2023
£ £
Other debtors - 9,250
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 4,000 3,602
Other creditors 18,570 4,820
Director's loan account 2,293 20
Rent deposit 32,000 -
56,863 8,442
6 Other information
Avidek Limited is a private company limited by shares and incorporated in England. Its registered office is:
3-4 Market Parade
Forest Road
Walthamstow
London
E17 6DY
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