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Registration number: 13986253

AV II (England) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

AV II (England) Ltd

Company Information

Directors

Matthew Joel Penneycard

Francesca Isabel Warner

Registered office

United House
9 Pembridge Road
London
W11 3JY

Accountants

EVMS Partners LLP
Chartered Accountants
1st Floor, 5 St Bride Street
London
EC4A 4AS

 

AV II (England) Ltd

(Registration number: 13986253)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

1

1

Capital and reserves

 

Called up share capital

1

1

Shareholders' funds

 

1

1

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 October 2024 and signed on its behalf by:
 

.........................................
Matthew Joel Penneycard
Director

 

AV II (England) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
United House
9 Pembridge Road
London
W11 3JY
United Kingdom

These financial statements were authorised for issue by the Board on 3 October 2024.

2

Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. Management do not consider there are any key accounting estimates or assumptions made that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year.

Management are also required to exercise judgement in applying the Company's accounting policies. Due to the straight forward nature of the business management consider that no critical judgements have been made in applying the Company's accounting policies.

The following principal accounting policies have been applied:

Revenue recognition

The turnover shown in the profit and loss account represents the partnership's General Partner's profit share as a first charge on net income and capital gains of Ada Ventures II LP and Ada Ventures SOC II LP.

 

AV II (England) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Financial instruments

The Company does not trade in financial instruments and all such instruments arise directly from operations.

All trade and other debtors are initially recognised at transaction value, as none contain in substance a financing transaction. Thereafter trade and other debtors are reviewed for impairment where there is objective evidence based on observable data that the balance may be impaired. The Company does not hold collateral against its trade and other receivables so its exposure to credit risk is the net balance of trade and other debtors after allowance for impairment. All cash is held with banks with strong external credit ratings.

Trade and other creditors and accruals are initially recognised at transaction value as none represent a financing transaction. They are only derecognised when they are extinguished. As the Company only has short term receivables and payables, its net current asset position is a reasonable measure of its liquidity at any given time.

3

Employees

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

The Company has no employees other than the directors, who did not receive any remuneration (2023: none).

4

Debtors

Current

2024
£

2023
£

Other debtors

1

1

 

1

1

5

Controlling Party

The company's immediate parent is Ada Partners LLP, a limited liability partnership incorporated in England and Wales.