Registration number:
AV I (Scotland) Ltd
for the Year Ended 31 March 2024
AV I (Scotland) Ltd
Company Information
Directors |
Matthew Joel Penneycard Francesca Isabel Warner |
Registered office |
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Accountants |
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AV I (Scotland) Ltd
(Registration number: SC631970)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Current assets |
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Debtors |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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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:
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• |
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
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AV I (Scotland) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in the United Kingdom.
The address of its registered office is:
Scotland
These financial statements were authorised for issue by the
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 I LP and Ada Ventures SOC I LP.
AV I (Scotland) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Financial instruments
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.
Employees |
The average number of persons employed by the company (including directors) during the year, was
The company has no employees other than the directors, who did not receive any remuneration (2023: none).
Debtors |
Current |
2024 |
2023 |
Other debtors |
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Controlling party |
The company's immediate parent is