2023-01-012023-12-312023-12-31falseNI639753Avellino Labs 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Avellino Labs Ltd

Registered Number
NI639753
(Northern Ireland)

Unaudited Financial Statements for the Year ended
31 December 2023

Avellino Labs Ltd
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

John Hong

Registered Address

Unit 4a Channel Wharf
21 Old Channel Road
Belfast
BT3 9DE

Registered Number

NI639753 (Northern Ireland)
Avellino Labs Ltd
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3-4,507
-4,507
Current assets
Debtors41010
Cash at bank and on hand7,74210,652
7,75210,662
Creditors amounts falling due within one year5(37,600)(33,661)
Net current assets (liabilities)(29,848)(22,999)
Total assets less current liabilities(29,848)(18,492)
Creditors amounts falling due after one year6(117,996)(123,936)
Net assets(147,844)(142,428)
Capital and reserves
Called up share capital1010
Profit and loss account(147,854)(142,438)
Shareholders' funds(147,844)(142,428)
The financial statements were approved and authorised for issue by the Director on 27 September 2024, and are signed on its behalf by:
John Hong
Director
Registered Company No. NI639753
Avellino Labs Ltd
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. 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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Foreign currency translation
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:

Straight line (years)
Plant and machinery5
2.Average number of employees

20232022
Average number of employees during the year00
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 January 2326,28626,286
At 31 December 2326,28626,286
Depreciation and impairment
At 01 January 2321,77921,779
Charge for year4,5074,507
At 31 December 2326,28626,286
Net book value
At 31 December 23--
At 31 December 224,5074,507
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables1010
Total1010
5.Creditors: amounts due within one year

2023

2022

££
Amounts owed to related parties33,85331,392
Accrued liabilities and deferred income3,7472,269
Total37,60033,661
6.Creditors: amounts due after one year

2023

2022

££
Amounts owed to related parties117,996123,936
Total117,996123,936