Caseware UK (AP4) 2023.0.135 2023.0.135 falsefalse2023-04-01No description of principal activity1212truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00252941 2023-04-01 2024-03-31 00252941 2022-04-01 2023-03-31 00252941 2024-03-31 00252941 2023-03-31 00252941 c:Director2 2023-04-01 2024-03-31 00252941 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 00252941 d:Buildings d:LongLeaseholdAssets 2024-03-31 00252941 d:Buildings d:LongLeaseholdAssets 2023-03-31 00252941 d:PlantMachinery 2023-04-01 2024-03-31 00252941 d:PlantMachinery 2024-03-31 00252941 d:PlantMachinery 2023-03-31 00252941 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00252941 d:FurnitureFittings 2023-04-01 2024-03-31 00252941 d:FurnitureFittings 2024-03-31 00252941 d:FurnitureFittings 2023-03-31 00252941 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00252941 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 00252941 d:OtherPropertyPlantEquipment 2024-03-31 00252941 d:OtherPropertyPlantEquipment 2023-03-31 00252941 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00252941 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00252941 d:CurrentFinancialInstruments 2024-03-31 00252941 d:CurrentFinancialInstruments 2023-03-31 00252941 d:Non-currentFinancialInstruments 2024-03-31 00252941 d:Non-currentFinancialInstruments 2023-03-31 00252941 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 00252941 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00252941 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 00252941 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 00252941 d:ShareCapital 2024-03-31 00252941 d:ShareCapital 2023-03-31 00252941 d:RetainedEarningsAccumulatedLosses 2024-03-31 00252941 d:RetainedEarningsAccumulatedLosses 2023-03-31 00252941 c:FRS102 2023-04-01 2024-03-31 00252941 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 00252941 c:FullAccounts 2023-04-01 2024-03-31 00252941 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00252941 2 2023-04-01 2024-03-31 00252941 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 00252941










A.V.A.LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

For the Year Ended 31 March 2024

 
A.V.A.LIMITED
Registered number: 00252941

STATEMENT OF FINANCIAL POSITION
As at 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible Fixed Assets
 4 
11,731
17,305

  
11,731
17,305

Current assets
  

Stocks
 5 
323,250
367,960

Debtors: amounts falling due within one year
 6 
273,620
254,969

Cash at bank and in hand
  
52,621
16,617

  
649,491
639,546

Creditors: amounts falling due within one year
 7 
(201,533)
(176,895)

Net current assets
  
 
 
447,958
 
 
462,651

Total assets less current liabilities
  
459,689
479,956

Creditors: amounts falling due after more than one year
 8 
(15,833)
(25,833)

  

Net assets
  
443,856
454,123


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Profit and loss account
  
433,856
444,123

  
443,856
454,123


Page 1

 
A.V.A.LIMITED
Registered number: 00252941
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
As at 31 March 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






................................................
S R Pentony
Director

Date: 18 October 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
A.V.A.LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2024

1.


General information

AVA Limited (00252941) is a private company limited by shares, incorporated in England & Wales. Its registered office is Unit 1 Monkton Park, Farnham Trading Estate, Farnham, Surrey, GU9 9PA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 3

 
A.V.A.LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
A.V.A.LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2024

2.Accounting policies (continued)

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

S/Term Leasehold Property
-
10% straight line
Plant & machinery
-
2 to 10 years straight line
Fixtures & fittings
-
10 to 50% straight line
Other fixed assets
-
10% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
A.V.A.LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2024

2.Accounting policies (continued)

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2023 - 12).

Page 6

 
A.V.A.LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2024

4.


Tangible fixed assets





S/Term Leasehold Property
Plant & machinery
Fixtures & fittings
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
105,545
472,902
136,162
279,213
993,822


Additions
-
-
4,249
-
4,249



At 31 March 2024

105,545
472,902
140,411
279,213
998,071



Depreciation


At 1 April 2023
105,545
469,885
133,337
267,751
976,518


Charge for the year on owned assets
-
2,004
3,047
4,771
9,822



At 31 March 2024

105,545
471,889
136,384
272,522
986,340



Net book value



At 31 March 2024
-
1,013
4,027
6,691
11,731



At 31 March 2023
-
3,018
2,825
11,462
17,305


5.


Stocks

2024
2023
£
£

Raw materials and consumables
272,244
321,541

Work in progress (goods to be sold)
1,572
1,408

Finished goods and goods for resale
49,434
45,011

323,250
367,960


Page 7

 
A.V.A.LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2024

6.


Debtors

2024
2023
£
£


Trade debtors
142,827
163,293

Other debtors
14,990
18,328

Prepayments and accrued income
115,803
73,348

273,620
254,969



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
9,026

Bank loans
10,000
10,000

Trade creditors
154,020
111,573

Corporation tax
-
12

Other taxation and social security
5,308
6,051

Other creditors
168
620

Accruals and deferred income
32,037
39,613

201,533
176,895



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
15,833
25,833


 
Page 8