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PREVA ADVISORY LIMITED

Registered Number
12661546
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

PREVA ADVISORY LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

F PREDESCU-VASVARI

Company Secretary

AURIA ACCOUNTANCY LIMITED

Registered Address

C/O Auria
48 Warwick Street
London
W1B 5AW

Registered Number

12661546 (England and Wales)
PREVA ADVISORY LIMITED
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,3493,377
3,3493,377
Current assets
Current asset investments64,446-
Cash at bank and on hand89,918120,306
154,364120,306
Creditors amounts falling due within one year4(55,069)(35,421)
Net current assets (liabilities)99,29584,885
Total assets less current liabilities102,64488,262
Net assets102,64488,262
Capital and reserves
Called up share capital11
Profit and loss account102,64388,261
Shareholders' funds102,64488,262
The financial statements were approved and authorised for issue by the Director on 3 March 2025, and are signed on its behalf by:
F PREDESCU-VASVARI
Director
Registered Company No. 12661546
PREVA ADVISORY LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 July 239,0459,045
Additions2,5032,503
At 30 June 2411,54811,548
Depreciation and impairment
At 01 July 235,6685,668
Charge for year2,5312,531
At 30 June 248,1998,199
Net book value
At 30 June 243,3493,349
At 30 June 233,3773,377
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables47,74634,100
Taxation and social security5,008865
Other creditors2,315456
Total55,06935,421
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.