Registered number
10933802
Appvocado Ltd
Filleted Accounts
31 August 2023
Appvocado Ltd
Registered number: 10933802
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 50,841 74,616
Current assets
Debtors 4 126,325 163,240
Cash at bank and in hand 145 97,733
126,470 260,973
Creditors: amounts falling due within one year 5 (83,216) (84,422)
Net current assets 43,254 176,551
Total assets less current liabilities 94,095 251,167
Creditors: amounts falling due after more than one year 6 (77,819) (97,758)
Net assets 16,276 153,409
Capital and reserves
Called up share capital 3 3
Profit and loss account 16,273 153,406
Shareholders' funds 16,276 153,409
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sefton Monk
Director
Approved by the board on 13 October 2024
Appvocado Ltd
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
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).
Turnover
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% straight line
Motor vehicle 25% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2022 15,161 93,478 108,639
Additions 2,874 - 2,874
At 31 August 2023 18,035 93,478 111,513
Depreciation
At 1 September 2022 12,601 21,422 34,023
Charge for the year 3,279 23,370 26,649
At 31 August 2023 15,880 44,792 60,672
Net book value
At 31 August 2023 2,155 48,686 50,841
At 31 August 2022 2,560 72,056 74,616
4 Debtors 2023 2022
£ £
Trade debtors 13,216 13,440
Other debtors 113,109 149,800
126,325 163,240
5 Creditors: amounts falling due within one year 2023 2022
£ £
Accruals and deferred income 5,500 2,750
Bank loans and overdrafts 10,000 10,000
Obligations under finance lease and hire purchase contracts 9,939 9,939
Trade creditors 5,293 5,293
Taxation and social security costs 23,519 48,941
Other creditors 28,965 7,499
83,216 84,422
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 17,501 27,501
Obligations under finance lease and hire purchase contracts 60,318 70,257
77,819 97,758
7 Other information
Appvocado Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Devonshire House
582 Honeypot Lane
Stanmore
HA7 1JS
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