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AVOCET SYSTEMS LIMITED

Registered Number
09048513
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

AVOCET SYSTEMS LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

FOLLETT, Michael Vincent John
PIERCE, Ezra Stevens
ROBINSON, Matthew William

Registered Address

Labs House
15-19 Bloomsbury Way
London
WC1A 2TH

Registered Number

09048513 (England and Wales)
AVOCET SYSTEMS LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,811271
Investments41-
1,812271
Current assets
Debtors381,3341,078,504
Cash at bank and on hand41,062148,248
422,3961,226,752
Creditors amounts falling due within one year5(1,561,286)(2,107,737)
Net current assets (liabilities)(1,138,890)(880,985)
Total assets less current liabilities(1,137,078)(880,714)
Creditors amounts falling due after one year6-(1,533,618)
Net assets(1,137,078)(2,414,332)
Capital and reserves
Called up share capital1,557578
Share premium4,779,5193,245,900
Profit and loss account(5,918,154)(5,660,810)
Shareholders' funds(1,137,078)(2,414,332)
The financial statements were approved and authorised for issue by the Board of Directors on 12 October 2024, and are signed on its behalf by:
ROBINSON, Matthew William
Director
Registered Company No. 09048513
AVOCET SYSTEMS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

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 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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 April 2324,74824,748
Additions3,1583,158
At 31 March 2427,90627,906
Depreciation and impairment
At 01 April 2324,47724,477
Charge for year1,6181,618
At 31 March 2426,09526,095
Net book value
At 31 March 241,8111,811
At 31 March 23271271
4.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
Additions11
At 31 March 2411
Net book value
At 31 March 2411
At 31 March 23--

Notes

1Investments in group undertakings and participating interests
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables171,9681,688,710
Bank borrowings and overdrafts1-
Taxation and social security7,407363,326
Payments received on account-8,422
Other creditors1,378,41012,143
Accrued liabilities and deferred income3,50035,136
Total1,561,2862,107,737
6.Creditors: amounts due after one year

2024

2023

££
Convertible loans-1,533,618
Total-1,533,618