Company Registration No. 13889134 (England and Wales)
Avata Digital Ltd
Unaudited accounts
for the period from 1 March 2023 to 28 February 2024
Avata Digital Ltd
Unaudited accounts
Contents
Avata Digital Ltd
Company Information
for the period from 1 March 2023 to 28 February 2024
Director
Christina Maria Ziegler
Company Number
13889134 (England and Wales)
Registered Office
86-90 Paul Street
London
EC2A 4NE
England
Accountants
Embrace Accountants Ltd
37 St. Leonards Drive
Nottingham
NG8 2BB
Avata Digital Ltd
Statement of financial position
as at 28 February 2024
Cash at bank and in hand
63
65,828
Creditors: amounts falling due within one year
(19,327)
(38,744)
Net current (liabilities)/assets
(19,264)
45,084
Net (liabilities)/assets
(19,264)
45,084
Called up share capital
1
1
Profit and loss account
(19,265)
45,083
Shareholders' funds
(19,264)
45,084
For the period ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 14 January 2025 and were signed on its behalf by
Christina Maria Ziegler
Director
Company Registration No. 13889134
Avata Digital Ltd
Notes to the Accounts
for the period from 1 March 2023 to 28 February 2024
Avata Digital Ltd is a private company, limited by shares, registered in England and Wales, registration number 13889134. The registered office is 86-90 Paul Street, London, EC2A 4NE, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Taxation for the period 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 balance sheet date.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting
Avata Digital Ltd
Notes to the Accounts
for the period from 1 March 2023 to 28 February 2024
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.
Amounts falling due within one year
5
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
-
15,267
Other creditors
7,900
21,250
Loans from directors
11,032
2,227
6
Transactions with related parties
The company had an outstanding directors loan in the name of C M Ziegler of £11,032 (2023: £2,227) at the year end. This loan is interest free and repayable on demand.
A dividend of £nil (2023: £20,000) declared during the year is owed to C M Ziegler who is the director of the company. This is included in other creditors.
7
Average number of employees
During the period the average number of employees was 1 (2023: 1).