Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr James O'Neill 29/07/2020 Ms Holly Tonge 01/06/2021 06 September 2024 The principal activity of the company was that of professional services in relation to import and export clearance. 12776699 2023-12-31 12776699 bus:Director1 2023-12-31 12776699 bus:Director2 2023-12-31 12776699 2022-12-31 12776699 core:CurrentFinancialInstruments 2023-12-31 12776699 core:CurrentFinancialInstruments 2022-12-31 12776699 core:ShareCapital 2023-12-31 12776699 core:ShareCapital 2022-12-31 12776699 core:RetainedEarningsAccumulatedLosses 2023-12-31 12776699 core:RetainedEarningsAccumulatedLosses 2022-12-31 12776699 core:OfficeEquipment 2022-12-31 12776699 core:OfficeEquipment 2023-12-31 12776699 2023-01-01 2023-12-31 12776699 bus:FilletedAccounts 2023-01-01 2023-12-31 12776699 bus:SmallEntities 2023-01-01 2023-12-31 12776699 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 12776699 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12776699 bus:Director1 2023-01-01 2023-12-31 12776699 bus:Director2 2023-01-01 2023-12-31 12776699 core:OfficeEquipment 2023-01-01 2023-12-31 12776699 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Company No: 12776699 (England and Wales)

AVOCET CLEARANCE LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

AVOCET CLEARANCE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

AVOCET CLEARANCE LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
AVOCET CLEARANCE LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
DIRECTORS Mr James O'Neill
Ms Holly Tonge
REGISTERED OFFICE Ducie House Unit 109
Ducie Street
M1 2JW
Manchester
United Kingdom
COMPANY NUMBER 12776699 (England and Wales)
CHARTERED ACCOUNTANTS PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
BB1 5QB
AVOCET CLEARANCE LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2023
AVOCET CLEARANCE LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 27,055 32,839
27,055 32,839
Current assets
Debtors 4 143,865 233,260
Cash at bank and in hand 448,861 336,204
592,726 569,464
Creditors: amounts falling due within one year 5 ( 322,237) ( 295,214)
Net current assets 270,489 274,250
Total assets less current liabilities 297,544 307,089
Provision for liabilities ( 6,618) ( 3,067)
Net assets 290,926 304,022
Capital and reserves
Called-up share capital 2 2
Profit and loss account 290,924 304,020
Total shareholders' funds 290,926 304,022

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Avocet Clearance Limited (registered number: 12776699) were approved and authorised for issue by the Board of Directors on 06 September 2024. They were signed on its behalf by:

Mr James O'Neill
Director
Ms Holly Tonge
Director
AVOCET CLEARANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
AVOCET CLEARANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Avocet Clearance Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ducie House Unit 109, Ducie Street, M1 2JW, Manchester, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, 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 classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as 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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 16 15

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 January 2023 40,265 40,265
Additions 2,983 2,983
At 31 December 2023 43,248 43,248
Accumulated depreciation
At 01 January 2023 7,426 7,426
Charge for the financial year 8,767 8,767
At 31 December 2023 16,193 16,193
Net book value
At 31 December 2023 27,055 27,055
At 31 December 2022 32,839 32,839

4. Debtors

2023 2022
£ £
Trade debtors 97,099 154,960
Other debtors 46,766 78,300
143,865 233,260

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 46,766 80,202
Taxation and social security 94,326 89,612
Other creditors 181,145 125,400
322,237 295,214

6. Financial commitments

Commitments

2023 2022
£ £
Total future minimum lease payments under non-cancellable operating lease 69,700 0

7. Related party transactions

Transactions with the entity's directors

At the balance sheet date an amount of £5,420 was owed to the company by a director, which was repaid after the balance sheet date. The maximum overdrawn balance throughout the year was £5,420.