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REGISTERED NUMBER: SC656603 (Scotland)















Financial Statements For The Year Ended 31 March 2024

for

Avoca Wealth Management Ltd

Avoca Wealth Management Ltd (Registered number: SC656603)






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Avoca Wealth Management Ltd

Company Information
For The Year Ended 31 March 2024







DIRECTORS: K B Small
Mrs P Small
Mrs T M Mellon
B M Mellon





REGISTERED OFFICE: Wright Business Centre
1 Lonmay Road
Glasgow
G33 4EL





REGISTERED NUMBER: SC656603 (Scotland)





ACCOUNTANTS: Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

Avoca Wealth Management Ltd (Registered number: SC656603)

Abridged Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 201,400 215,943
Investments 5 12,000 -
213,400 215,943

CURRENT ASSETS
Debtors 39,405 191,519
Cash at bank 297,130 234,760
336,535 426,279
CREDITORS
Amounts falling due within one year 225,673 193,148
NET CURRENT ASSETS 110,862 233,131
TOTAL ASSETS LESS CURRENT
LIABILITIES

324,262

449,074

CREDITORS
Amounts falling due after more than one
year

(42,625

)

-

PROVISIONS FOR LIABILITIES (34,068 ) (22,879 )
NET ASSETS 247,569 426,195

CAPITAL AND RESERVES
Called up share capital 6,000 6,000
Retained earnings 241,569 420,195
247,569 426,195

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Avoca Wealth Management Ltd (Registered number: SC656603)

Abridged Statement of Financial Position - continued
31 March 2024


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

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 November 2024 and were signed on its behalf by:





K B Small - Director


Avoca Wealth Management Ltd (Registered number: SC656603)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

Avoca Wealth Management Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover received represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to the date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 25% on reducing balance
Motor vehicles - 20% on cost
Fixtures & Fittings - 25% on reducing balance

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Avoca Wealth Management Ltd (Registered number: SC656603)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The directors have assessed that the company has adequate resources to meet the ongoing costs of the business for a minimum of 12 months from the date of signing the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 256,255
Additions 112,000
Disposals (105,000 )
At 31 March 2024 263,255
DEPRECIATION
At 1 April 2023 40,312
Charge for year 51,293
Eliminated on disposal (29,750 )
At 31 March 2024 61,855
NET BOOK VALUE
At 31 March 2024 201,400
At 31 March 2023 215,943

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
Additions 12,000
At 31 March 2024 12,000
NET BOOK VALUE
At 31 March 2024 12,000