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REGISTERED NUMBER: OC349430 (England and Wales)















Report of the Members and

Audited Financial Statements for the Year Ended 31 October 2022

for

Ayavo LLP

Ayavo LLP (Registered number: OC349430)






Contents of the Financial Statements
for the Year Ended 31 October 2022




Page

General Information 1

Report of the Members 2

Report of the Independent Auditors 4

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Reconciliation of Members' Interests 11

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 16


Ayavo LLP

General Information
for the Year Ended 31 October 2022







DESIGNATED MEMBERS: Starship International Industries Ltd.
Trans Yula Limited





REGISTERED OFFICE: Dept 4596
196 High Road, Wood Green
London
N22 8HH





REGISTERED NUMBER: OC349430 (England and Wales)





AUDITORS: Georgiou & Prasanna LLP (Statutory Auditors)
Block E, 2nd Floor
286a Chase Road
London
N14 6HF

Ayavo LLP (Registered number: OC349430)

Report of the Members
for the Year Ended 31 October 2022

The members present their report with the financial statements of the LLP for the year ended 31 October 2022.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of trading in petroleum related products and investment.

REVIEW OF BUSINESS
During the year under review the LLP's turnover increased by 68% and the gross profit margin remained at approximately 3%. The LLP reported a profit of $1,378,834 up from $474,016 in 2021.

The increase in the sales is due to additional product range being introduced by the LLP to its customers such as: petroleum and heating oil.

The Ukraine-Russian war has had a negative impact on the LLP. The LLP's new policy has been to diversify activities in the current economic conditions. Trade relations with companies engaged in sanctioned activities or at risk from the point of view of sanctions have been excluded in order to minimise risks to the LLP.

In the reporting period, as well as at present, there were no trade relations with suppliers and buyers from Ukraine or Russia.

FUTURE DEVELOPMENTS
The main objective of the LLP is to create a competitive and successful business with long term perspectives and prospects. The LLP has began to diversify into petrol products and is fostering new relationship with new customers, to help expand the business.

DESIGNATED MEMBERS
The designated members during the year under review were:

Starship International Industries Ltd.
Trans Yula Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was $1,378,834 (2021 - $474,016 profit).

MEMBERS' INTERESTS
Policy for drawings, subscription and repayment of members' capital is as follows:

Drawings

The policy for members' drawings is to distribute the majority of profit during the financial year, taking into account the need to maintain sufficient funds to finance the working capital and other needs of the business. The designated members set the designated members' level of members' drawings and review this annually.

Capital

The capital requirements of the business are determined from time to time by the designated members. Each member is required to subscribe a proportion of this capital. The amount of capital subscribed by each member is linked to the profit share allocated to that member. No interest is paid on capital. The repayment of capital is dependent on members' capital requirement. Members leaving the partnership may have their capital retained unless other arrangements have been agreed between the member and the designated members.

Members' profit shares

Members are remunerated solely out of the profits of the partnership. The designated members set members' profit shares in advance and review the allocation. Members' profit shares comprise a variable amount, the value of which is dependent upon the level of profit achieved in accordance with the profit share allocated to that member. Profits are allocated in full and there is transparency amongst the members of the total income allocated to each individual member.


Ayavo LLP (Registered number: OC349430)

Report of the Members
for the Year Ended 31 October 2022

STATEMENT OF MEMBERS' RESPONSIBILITIES
The members are responsible for preparing the Report of the Members and the financial statements in accordance with applicable law and regulations.

Legislation applicable to limited liability partnerships requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under legislation applicable to limited liability partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period. In preparing these financial statements, the members are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business.

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the members are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the LLP's auditors are unaware, and each member has taken all the steps that he ought to have taken as a member in order to make himself aware of any relevant audit information and to establish that the LLP's auditors are aware of that information.

AUDITORS
The auditors, Georgiou & Prasanna LLP (Statutory Auditors), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE MEMBERS:





Starship International Industries Ltd. - Designated member


2 September 2024

Report of the Independent Auditors to the Members of
Ayavo LLP

Opinion
We have audited the financial statements of Ayavo LLP (the 'LLP') for the year ended 31 October 2022 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Reconciliation of Members' Interests, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the LLP's affairs as at 31 October 2022 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the LLP in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the members' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the LLP's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the members with respect to going concern are described in the relevant sections of this report.

Other information
The members are responsible for the other information. The other information comprises the information in the Report of the Members, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Companies Act 2006 as applied to LLPs requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
Ayavo LLP


Responsibilities of members
As explained more fully in the Statement of Members' Responsibilities set out on page three, the members are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the members determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the members are responsible for assessing the LLP's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the members either intend to liquidate the LLP or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Ayavo LLP


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Fraud - Identifying and responding to risks of material misstatement due to fraud

Fraud risk assessment
To identify risks of material misstatement due to fraud ("fraud risks") we assessed events or conditions that could indicate an incentive or pressure by management to commit, or provide an opportunity to commit, fraud. Our risk assessment procedures included:
- Enquiries of management and internal accounting staff, concerning the LLP's policies and procedures relating to:
- detecting and responding to the risks of fraud; and
- internal controls established to mitigate risks related to fraud;
- Enquiries of management and internal accounting staff as to whether they had knowledge of any actual, suspected or alleged fraud;
- Discussions among the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

The engagement team includes the audit partner, managers and staff who have extensive experience of working with companies in this sector, and this experience was relevant to the discussion about where fraud risks may arise.

Risk communications
We communicated identified fraud risks throughout the audit team and remained alert to any indications of fraud throughout the audit.

Fraud risks
As required by auditing standards we addressed the risk of management override of controls and the risk of fraudulent revenue recognition. In particular we considered the risk that revenue is recorded in the wrong period and the risk that the LLP's management may be in a position to make inappropriate accounting entries, and the risk of bias in accounting estimates and judgments.

Procedures to address fraud risks
Our audit procedures included evaluating the design and implementation, and operating effectiveness of internal controls relevant to mitigate these risks. We also performed substantive audit procedures including:
- Review journal entries to supporting documentation and review for any unusual journal descriptions;
- Assessing significant accounting estimates for bias;
- Obtaining third party confirmations for all bank balances and material debtors and creditors balances; and
- Assessing when revenue was recognised, particularly focusing on revenue recognised in the days before and after the year end date, and whether it was recognised in the correct year.

Laws and regulations - Identifying and responding to risks of material misstatement due to non-compliance with laws and regulations

Risk assessment
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements. For this risk assessment, matters considered included the following:
- our general commercial sector experience;
- discussion with the management of the LLP (as required by auditing standards);
- inspection of the LLP's regulatory and legal correspondence; and
- discussions with the members and other management about the policies and procedures regarding compliance with laws and regulations.


Report of the Independent Auditors to the Members of
Ayavo LLP

Our work included understanding the facts and circumstances associated with the invasions of Ukraine by Russian Federation during the period and the effects of this military action upon LLP and its principal customers located in central and east Asian countries.

Risk communications
Our communication of laws and regulations risks was made throughout our team and we remained alert to any indications of non-compliance throughout the audit.

Direct laws context and link to audit
The potential effect of laws and regulations on the financial statements varies considerably.
Firstly, the LLP is subject to laws and regulations that directly affect financial statements including:
- financial reporting legislation (including related UK companies' legislation)
- taxation legislation (direct and indirect) in the LLP's countries of operation.

We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Most significant indirect law/ regulation areas
Secondly, the LLP is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation or harm to the LLP's ability to operate.
We identified the following laws as those most likely to have such an effect:
- Fraud Act 2006
- Bribery Act 2010
- The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017
- The Russia (Sanctions) (EU Exit) Regulations 2019 (Amended)

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Members and other management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of law or regulations is not disclosed to us or evident from relevant correspondence, our audit will not detect that breach.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the LLP's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. Our audit work has been undertaken so that we might state to the LLP's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and the LLP's members as a body, for our audit work, for this report, or for the opinions we have formed.




Costas Morfakis (Senior Statutory Auditor)
for and on behalf of Georgiou & Prasanna LLP (Statutory Auditors)
Block E, 2nd Floor
286a Chase Road
London
N14 6HF

2 September 2024

Ayavo LLP (Registered number: OC349430)

Income Statement
for the Year Ended 31 October 2022

31.10.22 31.10.21
Notes $    $   

TURNOVER 53,482,262 31,840,353

Cost of sales (51,656,683 ) (30,890,898 )
GROSS PROFIT 1,825,579 949,455

Administrative expenses (469,941 ) (487,434 )
OPERATING PROFIT 4 1,355,638 462,021

Interest receivable and similar income 23,196 11,995
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




1,378,834




474,016

Ayavo LLP (Registered number: OC349430)

Other Comprehensive Income
for the Year Ended 31 October 2022

31.10.22 31.10.21
Notes $    $   

PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




1,378,834




474,016


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,378,834

474,016

Ayavo LLP (Registered number: OC349430)

Balance Sheet
31 October 2022

31.10.22 31.10.21
Notes $    $   
FIXED ASSETS
Investments 7 2 2

CURRENT ASSETS
Stocks 8 269,874 -
Debtors 9 7,887,466 4,556,970
Cash at bank 4,300,658 4,294,265
12,457,998 8,851,235
CREDITORS
Amounts falling due within one year 10 (3,038,906 ) (310,977 )
NET CURRENT ASSETS 9,419,092 8,540,258
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

9,419,094

8,540,260

LOANS AND OTHER DEBTS DUE TO
MEMBERS

13

9,417,461

8,538,627

MEMBERS' OTHER INTERESTS
Capital accounts 1,633 1,633
9,419,094 8,540,260

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 13 9,417,461 8,538,627
Members' other interests 1,633 1,633
9,419,094 8,540,260

The financial statements were approved by the members of the LLP and authorised for issue on 2 September 2024 and were signed by:





Starship International Industries Ltd. - Designated member

Ayavo LLP (Registered number: OC349430)

Reconciliation of Members' Interests
for the Year Ended 31 October 2022


EQUITY
Members' other interests
Members'
capital
(classified
as Other
equity) reserves Total
$    $    $   
Balance at 1 November 2021 1,633 - 1,633
Profit for the financial year available for
discretionary division among members

-

1,378,834

1,378,834
Members' interests after profit for the year 1,633 1,378,834 1,380,467
Other divisions of profit - (1,378,834 ) (1,378,834 )
Drawings - - -
Balance at 31 October 2022 1,633 - 1,633

DEBT TOTAL
Loans and other debts due to MEMBERS'
members less any amounts due INTERESTS
from members in debtors
Other
amounts Total
$    $   
Amount due to members 8,538,627
Amount due from members -
Balance at 1 November 2021 8,538,627 8,540,260
Profit for the financial year available for
discretionary division among members

-

1,378,834

Members' interests after profit for the year 8,538,627 9,919,094
Other divisions of profit 1,378,834 -
Drawings (500,000 ) (500,000 )
Amount due to members 9,417,461
Amount due from members -
Balance at 31 October 2022 9,417,461 9,419,094

Ayavo LLP (Registered number: OC349430)

Reconciliation of Members' Interests
for the Year Ended 31 October 2022

EQUITY
Members' other interests
Members'
capital
(classified
as Other
equity) reserves Total
$    $    $   
Balance at 1 November 2020 1,633 - 1,633
Profit for the financial year available for
discretionary division among members

-

474,016

474,016
Members' interests after profit for the year 1,633 474,016 475,649
Other divisions of profit - (474,016 ) (474,016 )
Balance at 31 October 2021 1,633 - 1,633

DEBT TOTAL
Loans and other debts due to MEMBERS'
members less any amounts due INTERESTS
from members in debtors
Other
amounts Total
$    $   
Amount due to members 8,064,611
Amount due from members -
Balance at 1 November 2020 8,064,611 8,066,244
Profit for the financial year available for
discretionary division among members

-

474,016

Members' interests after profit for the year 8,064,611 8,540,260
Other divisions of profit 474,016 -
Amount due to members 8,538,627
Amount due from members -
Balance at 31 October 2021 8,538,627 8,540,260

Ayavo LLP (Registered number: OC349430)

Cash Flow Statement
for the Year Ended 31 October 2022

31.10.22 31.10.21
Notes $    $   
Cash flows from operating activities
Cash generated from operations 1 483,079 (1,510,198 )
Net cash from operating activities 483,079 (1,510,198 )

Cash flows from investing activities
Interest received 23,196 11,995
Net cash from investing activities 23,196 11,995

Cash flows from financing activities
Transactions with members and former members
Payments to members (500,000 ) -
Net cash from financing activities (500,000 ) -

Increase/(decrease) in cash and cash equivalents 6,275 (1,498,203 )
Cash and cash equivalents at beginning of
year

2

4,294,265

5,792,468

Cash and cash equivalents at end of year 2 4,300,540 4,294,265

Ayavo LLP (Registered number: OC349430)

Notes to the Cash Flow Statement
for the Year Ended 31 October 2022

1. RECONCILIATION OF PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS'
REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION
AMONG MEMBERS TO CASH GENERATED FROM OPERATIONS
31.10.22 31.10.21
$    $   
Profit for the financial year before members' remuneration and profit shares
available for discretionary division among members

1,378,834

474,016
Finance income (23,196 ) (11,995 )
1,355,638 462,021
(Increase)/decrease in stocks (269,874 ) 481,348
Increase in trade and other debtors (3,330,496 ) (1,393,922 )
Increase/(decrease) in trade and other creditors 2,727,811 (1,059,645 )
Cash generated from operations 483,079 (1,510,198 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 October 2022
31.10.22 1.11.21
$    $   
Cash and cash equivalents 4,300,658 4,294,265
Bank overdrafts (118 ) -
4,300,540 4,294,265
Year ended 31 October 2021
31.10.21 1.11.20
$    $   
Cash and cash equivalents 4,294,265 5,792,468


Ayavo LLP (Registered number: OC349430)

Notes to the Cash Flow Statement
for the Year Ended 31 October 2022

3. ANALYSIS OF CHANGES IN NET DEBT

Other
non-cash
At 1.11.21 Cash flow changes At 31.10.22
$    $    $    $   
Net cash
Cash at bank
and in hand 4,294,265 6,393 4,300,658
Bank overdrafts - (118 ) (118 )
4,294,265 6,275 4,300,540
Net funds (before
members' debt) 4,294,265 6,275 - 4,300,540

Loans and other debts
due to members
Other amounts
due to members (8,538,627 ) 500,000 (1,378,834 ) (9,417,461 )
Net debt (4,244,362 ) 506,275 (1,378,834 ) (5,116,921 )

Ayavo LLP (Registered number: OC349430)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

1. STATUTORY INFORMATION

Ayavo LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), Companies Act 2006 as applied by LLPs and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships, issued in July 2014. The financial statements have been prepared on the historical cost basis except for the modification to a fair value basis for certain financial instruments as specified in the accounting policies below.

The financial statements are presented in US Dollars ($).

Going concern
After reviewing the LLP's forecasts and projections, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. The LLP therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax. The revenue is recognised after delivery of cargo to the final destination as confirmed by waybill documents.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Ayavo LLP (Registered number: OC349430)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

2. ACCOUNTING POLICIES - continued

Financial instruments
The LLP has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the LLP's statement of financial position when the LLP cbecomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets and liabilities
Basic financial assets, and liabilities are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets and liabilities classified as receivable or payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the LLP after deducting all of its liabilities.

Foreign currencies
Assets and liabilities in foreign currencies are translated into US Dollars at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into US Dollars at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Taxation
Tax to be paid on the profits arising in the LLP is a personal tax liability of the members of the LLP and therefore is not included as a tax charge or provision within these financial statements.

3. EMPLOYEE INFORMATION
31.10.22 31.10.21
$    $   
Wages and salaries 24,839 25,336

The average number of employees during the year was as follows:
31.10.22 31.10.21

Management 1 1

Ayavo LLP (Registered number: OC349430)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

4. OPERATING PROFIT

The operating profit is stated after charging:

31.10.22 31.10.21
$    $   
Foreign exchange differences 279,664 39,477

5. AUDITORS' REMUNERATION
31.10.22 31.10.21
$    $   
Fees payable to the LLP's auditors for the audit of the LLP's financial
statements

20,125

17,005

6. INFORMATION IN RELATION TO MEMBERS
31.10.22 31.10.21
$    $   
The amount of profit attributable to the member with the largest entitlement was
689,417

237,008

31.10.22 31.10.21

The average number of members during the year was 2 2

7. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
31.10.22 31.10.21
$    $   
Trade investments 2 2

8. STOCKS
31.10.22 31.10.21
$    $   
Stocks 269,874 -

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.22 31.10.21
$    $   
Trade debtors 5,714,674 1,703,124
Other debtors - 48,121
Loans 710,758 164,880
Prepayments and accrued income - 5,780
Prepayments 1,462,034 2,635,065
7,887,466 4,556,970

Ayavo LLP (Registered number: OC349430)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.22 31.10.21
$    $   
Bank loans and overdrafts (see note 11) 118 -
Trade creditors 2,351,961 -
Other creditors 635,891 278,677
Accrued expenses 50,936 32,300
3,038,906 310,977

11. LOANS

An analysis of the maturity of loans is given below:

31.10.22 31.10.21
$    $   
Amounts falling due within one year or on demand:
Bank overdrafts 118 -

12. SECURED DEBTS

The following secured debts are included within creditors:

31.10.22 31.10.21
$    $   
Bank overdraft 118 -

Included in Loans falling due within one year is a bank overdraft balance of $118 that is secured by way of a charge against the LLP's securities and assets in all accounts held with the bank.

13. LOANS AND OTHER DEBTS DUE TO MEMBERS
31.10.22 31.10.21
$    $   
Amounts owed to members in respect of profits 9,412,129 8,533,295
Other 5,332 5,332
9,417,461 8,538,627

Falling due within one year 9,412,129 8,533,295
Falling due after more than one year 5,332 5,332
9,417,461 8,538,627

14. RELATED PARTY DISCLOSURES

Other related parties
31.10.22 31.10.21
$    $   
Cost of sales 874,012 86,256
Loans receivable 710,758 164,880
Interest receivable 23,196 14,880
Interest payable 37,603 -
Recognised bad or doubtful debts due from related parties - 343,000

Ayavo LLP (Registered number: OC349430)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

14. RELATED PARTY DISCLOSURES - continued



31.10.22

31.10.21
$ $
Amount due from Koent Investments LLP 176,880 164,880
Amount due from Yutas Trading DMCC 533,878 -






15. ULTIMATE CONTROLLING PARTY

The LLP was under the control of its members, Starship International Industries Ltd and Trans Yula Limited.

During the year under review the ultimate controlling party was Mr D Davletyarov.