Silverfin false false 30/06/2024 01/07/2023 30/06/2024 Dr N C Baines 07/02/2001 Mrs A Cuthbert-Baines 07 March 2025 The principal activity of the Company during the financial year was engineering consultancy. 04151672 2024-06-30 04151672 bus:Director1 2024-06-30 04151672 2023-06-30 04151672 core:CurrentFinancialInstruments 2024-06-30 04151672 core:CurrentFinancialInstruments 2023-06-30 04151672 core:ShareCapital 2024-06-30 04151672 core:ShareCapital 2023-06-30 04151672 core:CapitalRedemptionReserve 2024-06-30 04151672 core:CapitalRedemptionReserve 2023-06-30 04151672 core:RetainedEarningsAccumulatedLosses 2024-06-30 04151672 core:RetainedEarningsAccumulatedLosses 2023-06-30 04151672 core:OfficeEquipment 2023-06-30 04151672 core:OfficeEquipment 2024-06-30 04151672 2023-07-01 2024-06-30 04151672 bus:FilletedAccounts 2023-07-01 2024-06-30 04151672 bus:SmallEntities 2023-07-01 2024-06-30 04151672 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 04151672 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04151672 bus:Director1 2023-07-01 2024-06-30 04151672 bus:Director2 2023-07-01 2024-06-30 04151672 core:OfficeEquipment 2023-07-01 2024-06-30 04151672 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Company No: 04151672 (England and Wales)

AVENCA LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

AVENCA LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

AVENCA LIMITED

BALANCE SHEET

As at 30 June 2024
AVENCA LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 229 270
229 270
Current assets
Stocks 4 2,231 1,398
Debtors 5 155,920 101,656
Cash at bank and in hand 217,128 161,589
375,279 264,643
Creditors: amounts falling due within one year 6 ( 66,818) ( 70,104)
Net current assets 308,461 194,539
Total assets less current liabilities 308,690 194,809
Net assets 308,690 194,809
Capital and reserves
Called-up share capital 3,004 3,004
Capital redemption reserve 81,998 81,998
Profit and loss account 223,688 109,807
Total shareholders' funds 308,690 194,809

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Avenca Limited (registered number: 04151672) were approved and authorised for issue by the Board of Directors on 07 March 2025. They were signed on its behalf by:

Dr N C Baines
Director
AVENCA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
AVENCA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Avenca Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 7

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 July 2023 7,940 7,940
At 30 June 2024 7,940 7,940
Accumulated depreciation
At 01 July 2023 7,670 7,670
Charge for the financial year 41 41
At 30 June 2024 7,711 7,711
Net book value
At 30 June 2024 229 229
At 30 June 2023 270 270

4. Stocks

2024 2023
£ £
Stocks 0 990
Work in progress 2,231 408
2,231 1,398

5. Debtors

2024 2023
£ £
Trade debtors 155,918 86,465
Corporation tax 0 7,214
Other debtors 2 7,977
155,920 101,656

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 2,422 7,304
Taxation and social security 29,057 12,169
Other creditors 35,339 50,631
66,818 70,104