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Registered number: 07649017










Avatar Consultancy (Kent) Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 May 2024

 
Avatar Consultancy (Kent) Ltd
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Avatar Consultancy (Kent) Ltd for the Year Ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Avatar Consultancy (Kent) Ltd for the year ended 31 May 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Avatar Consultancy (Kent) Ltd, as a body, in accordance with the terms of our engagement letter dated 18 August 2023Our work has been undertaken solely to prepare for your approval the financial statements of Avatar Consultancy (Kent) Ltd and state those matters that we have agreed to state to the Board of directors of Avatar Consultancy (Kent) Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Avatar Consultancy (Kent) Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Avatar Consultancy (Kent) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Avatar Consultancy (Kent) Ltd. You consider that Avatar Consultancy (Kent) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Avatar Consultancy (Kent) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
37 St Margaret's Street
Canterbury
Kent
CT1 2TU
12 February 2025
Page 1

 
Avatar Consultancy (Kent) Ltd
Registered number: 07649017

Balance sheet
As at 31 May 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
862
1,196

  
862
1,196

Current assets
  

Debtors: amounts falling due within one year
 5 
24,929
16,854

Cash at bank and in hand
  
81,123
105,348

  
106,052
122,202

Creditors: amounts falling due within one year
 6 
(30,707)
(35,201)

Net current assets
  
 
 
75,345
 
 
87,001

Total assets less current liabilities
  
76,207
88,197

  

Net assets
  
76,207
88,197


Capital and reserves
  

Called up share capital 
 7 
2
2

Profit and loss account
  
76,205
88,195

  
76,207
88,197


The directors consider 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 directors acknowledge their 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 by: 




Matthew Ward Hyland
Director
Date: 12 February 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
Avatar Consultancy (Kent) Ltd
 

 
Notes to the financial statements
For the Year Ended 31 May 2024

1.


General information

Avatar Consultancy (Kent) Limited is a private company limited by shares which was incorporated in England and Wales.
The company’s registered office is Inglenook, 687 Loose Road, Maidstone, Kent, ME15 9UX. 
The financial statements are presented in pound Sterling, and rounded to the nearest pound.

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 directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. For this reason, the accounts have been prepared on a going concern basis.

 
2.3

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.

 
2.4

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.

Page 3

 
Avatar Consultancy (Kent) Ltd
 

 
Notes to the financial statements
For the Year Ended 31 May 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25.00%

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.

 
2.5

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.

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

Dividends

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.

Page 4

 
Avatar Consultancy (Kent) Ltd
 

 
Notes to the financial statements
For the Year Ended 31 May 2024

2.Accounting policies (continued)

 
2.10

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.



3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 June 2023
5,380


Additions
116



At 31 May 2024

5,496



Depreciation


At 1 June 2023
4,184


Charge for the year on owned assets
450



At 31 May 2024

4,634



Net book value



At 31 May 2024
862



At 31 May 2023
1,196


5.


Debtors

2024
2023
£
£


Trade debtors
8,276
10,418

Other debtors
177
-

Prepayments and accrued income
16,476
6,436
Page 5

 
Avatar Consultancy (Kent) Ltd
 

 
Notes to the financial statements
For the Year Ended 31 May 2024

5.Debtors (continued)


24,929
16,854



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
686
686

Corporation tax
8,398
16,669

Other taxation and social security
9,571
5,093

Other creditors
9,187
10,028

Accruals and deferred income
2,865
2,725

30,707
35,201


Included within other creditors is an amount due to Mr M Hyland and Mrs S Hyland, directors of the company, of £9,162 (2023 - £10,003).


7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2



8.


Controlling party

The company is controlled by Mr M Hyland and Mrs S Hyland.


Page 6