2023-03-012023-12-312023-12-31false13941760AVIAN LABS 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AVIAN LABS LTD

Registered Number
13941760
(England and Wales)

Unaudited Financial Statements for the Period ended
31 December 2023

AVIAN LABS LTD
Company Information
for the period from 1 March 2023 to 31 December 2023

Directors

AMOR, Simon
HUDACK, Michael Nicholas
MOLONEY, Grace

Registered Address

Arquen House 4-6 Spicer Street
St. Albans
AL3 4PQ

Registered Number

13941760 (England and Wales)
AVIAN LABS LTD
Balance Sheet as at
31 December 2023

Notes

31 Dec 2023

28 Feb 2023

£

£

£

£

Fixed assets
Tangible assets322,76812,457
22,76812,457
Current assets
Debtors4350,655191,849
Cash at bank and on hand32,34988,501
383,004280,350
Creditors amounts falling due within one year5(2,365,742)(921,409)
Net current assets (liabilities)(1,982,738)(641,059)
Total assets less current liabilities(1,959,970)(628,602)
Net assets(1,959,970)(628,602)
Capital and reserves
Called up share capital11
Profit and loss account(1,959,971)(628,603)
Shareholders' funds(1,959,970)(628,602)
The financial statements were approved and authorised for issue by the Board of Directors on 24 September 2024, and are signed on its behalf by:
HUDACK, Michael Nicholas
Director
Registered Company No. 13941760
AVIAN LABS LTD
Notes to the Financial Statements
for the period ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The financial statements have been prepared on the going concern basis notwithstanding the fact that the company has a deficiency on shareholders' funds at the period end. The director considers the basis to be appropriate as the parent company, Avian Labs, Inc, has sufficient reserves to support the company to trade for a minimum of 12 months from the period end.
Turnover policy
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 rendering of services.
Defined contribution pension plan
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.
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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment4
2.Average number of employees

20232023
Average number of employees during the year86
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 March 2314,24114,241
Additions16,59916,599
At 31 December 2330,84030,840
Depreciation and impairment
At 01 March 231,7841,784
Charge for year6,2886,288
At 31 December 238,0728,072
Net book value
At 31 December 2322,76822,768
At 28 February 2312,45712,457
4.Debtors: amounts due within one year

2023

2023

££
Amounts owed by group undertakings22,893-
Other debtors316,539191,053
Prepayments and accrued income11,223796
Total350,655191,849
5.Creditors: amounts due within one year

2023

2023

££
Trade creditors / trade payables32,6202,297
Amounts owed to related parties2,229,096826,674
Taxation and social security47,53136,743
Other creditors52,95151,295
Accrued liabilities and deferred income3,5444,400
Total2,365,742921,409
6.Other commitments
Minimum lease payments under non-cancellable operating leases total £5,925 due within one year (2022: £28,915).
7.Related party transactions
Included in Creditors amounts falling due within one year is £2,229,096 (February 2023: £826,674), owed to the ultimate controlling party, Avian Labs Inc, based in the United States of America. Included within Debtors amounts due within one year is £22,893, owed to the company by AvianLabs Netherlands B.V, based in Netherlands.