Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30No description of principal activity2023-05-01false31falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10712778 2023-05-01 2024-04-30 10712778 2022-05-01 2023-04-30 10712778 2024-04-30 10712778 2023-04-30 10712778 c:Director1 2023-05-01 2024-04-30 10712778 d:MotorVehicles 2023-05-01 2024-04-30 10712778 d:MotorVehicles 2024-04-30 10712778 d:MotorVehicles 2023-04-30 10712778 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10712778 d:ComputerEquipment 2023-05-01 2024-04-30 10712778 d:ComputerEquipment 2024-04-30 10712778 d:ComputerEquipment 2023-04-30 10712778 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10712778 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10712778 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-30 10712778 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-30 10712778 d:CurrentFinancialInstruments 2024-04-30 10712778 d:CurrentFinancialInstruments 2023-04-30 10712778 d:Non-currentFinancialInstruments 2024-04-30 10712778 d:Non-currentFinancialInstruments 2023-04-30 10712778 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 10712778 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 10712778 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 10712778 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 10712778 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 10712778 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 10712778 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 10712778 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 10712778 d:ShareCapital 2024-04-30 10712778 d:ShareCapital 2023-04-30 10712778 d:RetainedEarningsAccumulatedLosses 2024-04-30 10712778 d:RetainedEarningsAccumulatedLosses 2023-04-30 10712778 c:OrdinaryShareClass1 2023-05-01 2024-04-30 10712778 c:OrdinaryShareClass1 2024-04-30 10712778 c:OrdinaryShareClass1 2023-04-30 10712778 c:OrdinaryShareClass2 2023-05-01 2024-04-30 10712778 c:OrdinaryShareClass2 2024-04-30 10712778 c:OrdinaryShareClass2 2023-04-30 10712778 c:OrdinaryShareClass3 2023-05-01 2024-04-30 10712778 c:OrdinaryShareClass3 2024-04-30 10712778 c:OrdinaryShareClass3 2023-04-30 10712778 c:FRS102 2023-05-01 2024-04-30 10712778 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 10712778 c:FullAccounts 2023-05-01 2024-04-30 10712778 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10712778 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:InternallyGeneratedIntangibleAssets 2023-05-01 2024-04-30 10712778 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 10712778





AVENTI GLOBAL LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




















img2c8e.png

 
AVENTI GLOBAL LIMITED
REGISTERED NUMBER:10712778

BALANCE SHEET
AS AT 30 APRIL 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
201,833
92,271

Tangible assets
 5 
14,036
41,875

  
215,869
134,146

Current assets
  

Debtors: amounts falling due within one year
 6 
1,695,214
1,372,928

Cash at bank and in hand
  
167,989
120,825

  
1,863,203
1,493,753

Creditors: amounts falling due within one year
 7 
(1,136,738)
(948,310)

Net current assets
  
 
 
726,465
 
 
545,443

Total assets less current liabilities
  
942,334
679,589

Creditors: amounts falling due after more than one year
 8 
(250,000)
(104,167)

  

Net assets
  
692,334
575,422


Capital and reserves
  

Called up share capital 
  
296
296

Profit and loss account
  
692,038
575,126

  
692,334
575,422


Page 1

 
AVENTI GLOBAL LIMITED
REGISTERED NUMBER:10712778
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 January 2025.




R Wanless
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
AVENTI GLOBAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Aventi Global Limited is private company, limited by shares, domiciled in England and Wales. The registered office is Courtenay House, Pynes Hill, Exeter, Devon, United Kingdom, EX2 5AZ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The director confirms that, having considered their expectations and intentions for the next twelve months, and the availability of working capital, the company is a going concern.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
AVENTI GLOBAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
AVENTI GLOBAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following bases.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
Reducing balance
Computer equipment
-
25%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
AVENTI GLOBAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

  
2.13

Long-term contracts

Amounts recoverable on long-term contracts are shown in debtors and recognised under FRS 102 as the anticipated attributable profit earned on the contract up to the balance sheet date. 

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

Page 6

 
AVENTI GLOBAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.16
Financial instruments (continued)

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 1).


4.


Intangible assets



Development expenditure

£



Cost


At 1 May 2023
92,271


Additions
109,562



At 30 April 2024

201,833






Net book value



At 30 April 2024
201,833



Page 7

 
AVENTI GLOBAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Tangible fixed assets





Motor vehicles
Computer equipment
Total

£
£
£



Cost or valuation


At 1 May 2023
33,808
25,621
59,429


Additions
-
7,046
7,046



At 30 April 2024

33,808
32,667
66,475



Depreciation


At 1 May 2023
-
17,554
17,554


Charge for the year on owned assets
26,718
8,167
34,885



At 30 April 2024

26,718
25,721
52,439



Net book value



At 30 April 2024
7,090
6,946
14,036



At 30 April 2023
33,808
8,067
41,875


6.


Debtors

2024
As restated
2023
£
£


Trade debtors
948,481
1,045,163

Other debtors
9,923
12,765

Prepayments and accrued income
253,999
-

Amounts recoverable on long-term contracts
482,811
315,000

1,695,214
1,372,928


Page 8

 
AVENTI GLOBAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
187,500
-

Trade creditors
751,736
666,075

Loss Provision
10,851
-

Corporation tax
8,956
87,424

Other taxation and social security
4,415
36,166

Other creditors
4,373
3,848

Accruals and deferred income
168,907
154,797

1,136,738
948,310



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
250,000
104,167

250,000
104,167


Page 9

 
AVENTI GLOBAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
187,500
-


187,500
-

Amounts falling due 1-2 years

Bank loans
166,667
104,167


166,667
104,167

Amounts falling due 2-5 years

Bank loans
83,333
-


83,333
-


437,500
104,167



10.


Share capital

2024
2023
As restated
£
£
Allotted, called up and fully paid



10,000 (2023 - 10,000) Ordinary shares of £0.0100 each
100
100
958,335 (2023 - 958,335) VN shares of £0.0001 each
96
96
1,000,000 (2023 - 1,000,000) VV shares of £0.0001 each
100
100

296

296



11.


Prior year adjustment

An adjustment has been made to share capital to correctly reflect the number of shares that have been issued. The previous accounts did not include growth shares with a nominal value of £196. To correct the accounting treatment for long term contracts, in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'. Amounts recoverable on contracts had previously incorrectly been disclosed within stock as work in progress.

Page 10

 
AVENTI GLOBAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £3,179 (2023: £Nil). Contributions totalling £987 (2023: £Nil) were payable to the fund at the balance sheet date.

 
Page 11