Company registration number SC206963 (Scotland)
AVD COMPUTING LTD.
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
AVD COMPUTING LTD.
COMPANY INFORMATION
Directors
Mr A Durie
Mrs V M Durie
Secretary
Mr A Durie
Company number
SC206963
Registered office
78-84 Bell Street
Dundee
Scotland
DD1 1HN
Accountants
MMG Chartered Accountants
Chapelshade House
78-84 Bell Street
Dundee
Scotland
DD1 1RQ
AVD COMPUTING LTD.
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
AVD COMPUTING LTD.
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF AVD COMPUTING LTD.
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of AVD Computing Ltd. for the year ended 31 May 2024 set out on pages 2 to 5 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 of Scotland we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the board of directors of AVD Computing Ltd., as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of AVD Computing Ltd. and state those matters that we have agreed to state to the board of directors of AVD Computing Ltd., as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AVD Computing Ltd. and its board of directors as a body, for our work or for this report.

It is your duty to ensure that AVD Computing 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 AVD Computing Ltd.. You consider that AVD Computing Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of AVD Computing 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.

MMG Chartered Accountants
Chapelshade House
78-84 Bell Street
Dundee
DD1 1RQ
Scotland
14 February 2025
AVD COMPUTING LTD.
BALANCE SHEET
AS AT 31 MAY 2024
31 May 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
8,587
3,037
Current assets
Debtors
4
860
984
Cash at bank and in hand
25,024
18,573
25,884
19,557
Creditors: amounts falling due within one year
5
(29,896)
(22,979)
Net current liabilities
(4,012)
(3,422)
Total assets less current liabilities
4,575
(385)
Provisions for liabilities
(1,631)
(577)
Net assets/(liabilities)
2,944
(962)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
2,942
(964)
Total equity
2,944
(962)

For the financial year ended 31 May 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 of its financial statements for the year in question in accordance with section 476.

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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 14 February 2025 and are signed on its behalf by:
Mr A Durie
Director
Company registration number SC206963 (Scotland)
AVD COMPUTING LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information

AVD Computing Ltd. is a private company limited by shares incorporated in Scotland. The registered office is 78-84 Bell Street, Dundee, Scotland, DD1 1HN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
50% on reducing balance
Fixtures and fittings
25% on reducing balance
Computers
50% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

AVD COMPUTING LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

1.5
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
AVD COMPUTING LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 June 2023
22,268
11,641
12,248
46,157
Additions
-
0
6,738
973
7,711
At 31 May 2024
22,268
18,379
13,221
53,868
Depreciation and impairment
At 1 June 2023
22,231
9,170
11,719
43,120
Depreciation charged in the year
17
1,581
563
2,161
At 31 May 2024
22,248
10,751
12,282
45,281
Carrying amount
At 31 May 2024
20
7,628
939
8,587
At 31 May 2023
37
2,471
529
3,037
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
860
984
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
6,676
4,158
Other taxation and social security
7,870
4,251
Other creditors
15,350
14,570
29,896
22,979
6
Related party transactions
2024
2023
Amounts due to related parties
£
£
Key management personnel
9,235
11,027
2024-05-312023-06-01falsefalsefalse14 February 2025CCH SoftwareCCH Accounts Production 2024.301information technology service activities.
Mrs V M DurieMrs V M DurieMr A Durie
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