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Registered number: 13585260
AVADE LTD
Unaudited Financial Statements
For The Year Ended 31 March 2024
Ortu Advisors Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13585260
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 68,152 40,499
68,152 40,499
CURRENT ASSETS
Debtors 5 531,170 537,705
Cash at bank and in hand 124,327 229,461
655,497 767,166
Creditors: Amounts Falling Due Within One Year 6 (696,112 ) (793,230 )
NET CURRENT ASSETS (LIABILITIES) (40,615 ) (26,064 )
TOTAL ASSETS LESS CURRENT LIABILITIES 27,537 14,435
Creditors: Amounts Falling Due After More Than One Year 7 (25,960 ) -
NET ASSETS 1,577 14,435
CAPITAL AND RESERVES
Called up share capital 9 5 5
Profit and Loss Account 1,572 14,430
SHAREHOLDERS' FUNDS 1,577 14,435
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr Marisa Monteiro
Director
01/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
AVADE LTD is a private company, limited by shares, incorporated in England & Wales, registered number 13585260 . The registered office is 411 Coldharbour Lane, London, SW9 8LH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% Straight-Line
Plant & Machinery 20% Straight-Line
Fixtures & Fittings 20% Straight-Line
Computer Equipment 20% Straight-Line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
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4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2023 32,278 - 10,759 43,037
Additions - 32,989 3,800 36,789
As at 31 March 2024 32,278 32,989 14,559 79,826
Depreciation
As at 1 April 2023 - - 2,538 2,538
Provided during the period - 6,598 2,538 9,136
As at 31 March 2024 - 6,598 5,076 11,674
Net Book Value
As at 31 March 2024 32,278 26,391 9,483 68,152
As at 1 April 2023 32,278 - 8,221 40,499
5. Debtors
31 March 2024 31 March 2023
£ £
Due within one year
Other debtors 531,170 537,705
6. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Bank loans and overdrafts 441,586 513,361
Bounce back loan 20,988 31,667
Corporation tax (7 ) 12,572
Other creditors 231,385 231,310
Accruals and deferred income 2,160 4,320
696,112 793,230
7. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 31 March 2023
£ £
Net obligations under finance lease and hire purchase contracts 25,960 -
8. Obligations Under Finance Leases and Hire Purchase
31 March 2024 31 March 2023
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 25,960 -
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9. Share Capital
31 March 2024 31 March 2023
£ £
Allotted, Called up and fully paid 5 5
Page 5