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Avad Group Limited
Registered Number:01431059
For the year ended 30 June 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 30 June 2024
Avad Group Limited
Contents Page
1
Statement of Financial Position
2 to 6
Notes to the Financial Statements
3
Registered Number :
01431059
As at 30 June 2024
Avad Group Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Intangible assets
1
1
2
Property, plant and equipment
50,809
61,371
3
Financial assets
740,764
740,764
4
791,574
802,136
Current assets
Trade and other receivables
1,491,660
1,434,246
5
31,327
Cash and cash equivalents
15,851
1,450,097
1,522,987
Trade and other payables: amounts falling due within one
year
(1,599,035)
(1,538,316)
6
(76,048)
(88,219)
Net current liabilities
Total assets less current liabilities
703,355
726,088
Trade and other payables: amounts falling due after more
than one year
(270,437)
(245,824)
7
457,531
Net assets
455,651
Capital and reserves
Called up share capital
275,000
275,000
Retained earnings
182,531
180,651
457,531
455,651
Shareholders' funds
For the year ended 30 June 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 ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr S Patel Director
These financial statements were approved and authorised for issue by the Board on 19 March 2025 and were signed by:
1 of 6
4
Registered Number :
01431059
For the year ended 30 June 2024
Avad Group Limited
Statement of Financial Position Continued
The notes form part of these financial statements
2 of 6
5
For the year ended 30 June 2024
Avad Group Limited
Notes to the Financial Statements
Statutory Information
Avad Group Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 01431059.
Registered address:
Avad House
Belvue Road
Northolt
Middlesex
UB5 5HY
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of 10 years.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings
2.5 Per annum on cost
20 per annum on cost
Motor Vehicles
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate at the date of transaction. Exchange rate differences are taken into account in arriving at the operating result.
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6
For the year ended 30 June 2024
Avad Group Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 July 2023
151,869
At 30 June 2024
151,869
Amortisation
At 01 July 2023
151,868
At 30 June 2024
151,868
Net book value
At 30 June 2024
1
At 30 June 2023
1
3. Property, plant and equipment
Total
Motor
Vehicles
Land and
Buildings
£
£
£
Cost or
valuation
At 01 July 2023
216,028
20,590
195,438
At 30 June 2024
195,438
20,590
216,028
Provision for depreciation and impairment
At 01 July 2023
154,657
17,845
136,812
Charge for year
10,562
2,744
7,818
At 30 June 2024
165,219
20,589
144,630
At 30 June 2024
Net book value
50,808
1
50,809
At 30 June 2023
58,626
2,745
61,371
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7
For the year ended 30 June 2024
Avad Group Limited
Notes to the Financial Statements Continued
4. Investments held as fixed assets
Shares in group and participating interests
Total
At 01 July 2023
740,764
740,764
Cost
£
£
At 30 June 2024
740,764
740,764
At 30 June 2024
Net book value
740,764
740,764
At 01 July 2023
740,764
740,764
5. Trade and other receivables
2023
2024
£
£
Trade debtors
4,663
3,601
Amounts owed by group undertakings and participating interests
1,429,278
1,484,167
Other debtors
305
3,892
1,491,660
1,434,246
6. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft (secured)
40,503
40,503
Trade creditors
-
1,346
Amounts owed to group undertaking and undertaking in which the
company has a participating interest
1,474,896
1,487,214
Taxation and social security
14,051
13,778
Other creditors
8,866
56,194
1,538,316
1,599,035
7. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft (secured)
245,824
270,437
Bank loans payable within and after more than 1 year are secured by a way of fixed and floting chargeover the assets of the companies.
5 of 6
8
For the year ended 30 June 2024
Avad Group Limited
Notes to the Financial Statements Continued
8. Related party transactions
The company has taken advantage of the exemption under the terms of Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to diisclose related paty transactions
with wholly owned subsidairies within the group.
9. Average number of persons employed
During the year the average number of employees was 5 (2023 : 5)
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