AAVPD Limited 06128890 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the production of plastic components for resale Digita Accounts Production Advanced 6.30.9574.0 true true 06128890 2023-04-01 2024-03-31 06128890 2024-03-31 06128890 bus:Director1 1 2024-03-31 06128890 bus:OrdinaryShareClass1 2024-03-31 06128890 core:CapitalRedemptionReserve 2024-03-31 06128890 core:RetainedEarningsAccumulatedLosses 2024-03-31 06128890 core:ShareCapital 2024-03-31 06128890 core:CurrentFinancialInstruments 2024-03-31 06128890 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06128890 core:Goodwill 2024-03-31 06128890 core:FurnitureFittings 2024-03-31 06128890 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 06128890 core:MotorVehicles 2024-03-31 06128890 core:OfficeEquipment 2024-03-31 06128890 core:PlantMachinery 2024-03-31 06128890 bus:SmallEntities 2023-04-01 2024-03-31 06128890 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06128890 bus:FullAccounts 2023-04-01 2024-03-31 06128890 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06128890 bus:RegisteredOffice 2023-04-01 2024-03-31 06128890 bus:Director1 2023-04-01 2024-03-31 06128890 bus:Director1 1 2023-04-01 2024-03-31 06128890 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 06128890 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06128890 core:CapitalRedemptionReserve 2023-04-01 2024-03-31 06128890 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 06128890 core:ShareCapital 2023-04-01 2024-03-31 06128890 core:Goodwill 2023-04-01 2024-03-31 06128890 core:FurnitureFittings 2023-04-01 2024-03-31 06128890 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06128890 core:MotorVehicles 2023-04-01 2024-03-31 06128890 core:OfficeEquipment 2023-04-01 2024-03-31 06128890 core:PlantMachinery 2023-04-01 2024-03-31 06128890 core:Vehicles 2023-04-01 2024-03-31 06128890 countries:England 2023-04-01 2024-03-31 06128890 2023-03-31 06128890 bus:Director1 1 2023-03-31 06128890 core:CapitalRedemptionReserve 2023-03-31 06128890 core:RetainedEarningsAccumulatedLosses 2023-03-31 06128890 core:ShareCapital 2023-03-31 06128890 core:Goodwill 2023-03-31 06128890 core:FurnitureFittings 2023-03-31 06128890 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 06128890 core:MotorVehicles 2023-03-31 06128890 core:OfficeEquipment 2023-03-31 06128890 core:PlantMachinery 2023-03-31 06128890 2022-04-01 2023-03-31 06128890 2023-03-31 06128890 bus:Director1 1 2023-03-31 06128890 bus:OrdinaryShareClass1 2023-03-31 06128890 core:CurrentFinancialInstruments 2023-03-31 06128890 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06128890 core:FurnitureFittings 2023-03-31 06128890 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 06128890 core:MotorVehicles 2023-03-31 06128890 core:OfficeEquipment 2023-03-31 06128890 core:PlantMachinery 2023-03-31 06128890 bus:Director1 1 2022-04-01 2023-03-31 06128890 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 06128890 core:ShareCapital 2022-04-01 2023-03-31 06128890 2022-03-31 06128890 bus:Director1 1 2022-03-31 06128890 core:RetainedEarningsAccumulatedLosses 2022-03-31 06128890 core:ShareCapital 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06128890

AAVPD Limited

Annual Report and Unaudited Financial Statements

for the year ended 31 March 2024

 

AAVPD Limited

Contents

Balance Sheet

1 to 2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 12

 

AAVPD Limited

(Registration number: 06128890)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

5

228,547

252,419

Current assets

 

Stocks

295,820

258,000

Debtors

6

1,079,084

1,123,792

Cash at bank and in hand

 

1,600,437

1,829,769

 

2,975,341

3,211,561

Creditors: Amounts falling due within one year

7

(268,143)

(257,597)

Net current assets

 

2,707,198

2,953,964

Total assets less current liabilities

 

2,935,745

3,206,383

Provisions for liabilities

(40,979)

(42,252)

Net assets

 

2,894,766

3,164,131

Capital and Reserves

 

Called up share capital

8

900

1,000

Capital redemption reserve

100

-

Retained Earnings

2,893,766

3,163,131

Shareholders' funds

 

2,894,766

3,164,131

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

AAVPD Limited

(Registration number: 06128890)
Balance Sheet as at 31 March 2024

Approved and authorised for issue by the director on 20 March 2025
 


Mr L P Wettern

Director

 

AAVPD Limited

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Capital redemption reserve
£

Retained Earnings
£

Total
£

At 1 April 2023

1,000

-

3,163,131

3,164,131

Profit for the year

-

-

230,635

230,635

Purchase of own share capital

(100)

-

(500,000)

(500,100)

Other capital redemption reserve movements

-

100

-

100

At 31 March 2024

900

100

2,893,766

2,894,766

Share capital
£

Retained Earnings
£

Total
£

At 1 April 2022

1,000

2,791,309

2,792,309

Profit for the year

-

393,822

393,822

Dividends

-

(22,000)

(22,000)

At 31 March 2023

1,000

3,163,131

3,164,131

 

AAVPD Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
30 Bear Street
BARNSTAPLE
Devon
EX32 7DD

The principal place of business is:
Plot 4
Gore Cross Business Park
BRIDPORT
Dorset
DT6 3UX

These financial statements were authorised for issue by the director on 20 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

AAVPD Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Judgements

There are no judgements which management have made in the process of applying the accounting policies.

Key sources of estimation uncertainty

There are no key sources of estimation uncertainty that have a significant risk of causing a material adjustment to assets and liabilities to be disclosed..

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

AAVPD Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible Assets

Tangible Assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Fixtures and fittings

15% reducing balance

Office equipment

3 years straight line

Motor Vehicles

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

AAVPD Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

AAVPD Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Financial instruments

Classification
Basic financial assets include trade and other debtors, cash and bank balances. Basic financial liabilities include trade and other payables, bank loans and preference shares that are classified as debt.
 Recognition and measurement
Basic financial assets are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. Other debtors are classified as current assets if payment is due within one year or less and are initially recorded at transaction price and subsequently measured at the undiscounted amount of the cash expected to be received. Trade debtors are referred to above.

Basic financial liabilities are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Other creditors are classified as current liabilities if payment is due within one year or less and are recognised initially at transaction price and subsequently measured at the undiscounted amount of the cash expected to be paid. If not, they are presented as non-current liabilities and are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Trade creditors and leases are referred to above.

 Impairment
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including the director under service contract) during the year, was 23 (2023 - 22).

 

AAVPD Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

75,000

75,000

At 31 March 2024

75,000

75,000

Amortisation

At 1 April 2023

75,000

75,000

At 31 March 2024

75,000

75,000

Carrying amount

At 31 March 2024

-

-

The aggregate amount of research and development expenditure recognised as an expense during the period is £334 (2023 - £673).
 

 

AAVPD Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Tangible Assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

64,629

19,066

347,226

45,993

40,645

517,559

Additions

-

304

4,045

3,040

-

7,389

At 31 March 2024

64,629

19,370

351,271

49,033

40,645

524,948

Depreciation

At 1 April 2023

-

7,690

194,777

44,367

18,306

265,140

Charge for the year

-

1,725

22,969

982

5,585

31,261

At 31 March 2024

-

9,415

217,746

45,349

23,891

296,401

Carrying amount

At 31 March 2024

64,629

9,955

133,525

3,684

16,754

228,547

At 31 March 2023

64,629

11,376

152,449

1,626

22,339

252,419

Included within the net book value of land and buildings above is £64,629 (2023 - £64,629) in respect of freehold land and buildings.
 

 

AAVPD Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Debtors

Current

Note

2024
£

2023
£

Trade Debtors

 

325,802

390,403

Amounts owed by related parties

9

521,361

498,563

Prepayments

 

49,215

56,914

Other debtors

 

182,706

177,912

   

1,079,084

1,123,792

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade Creditors

109,070

78,601

Taxation and social security

152,056

169,642

Accruals and deferred income

3,178

3,927

Other creditors

3,839

5,427

268,143

257,597

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

900 Ordinary shares of £1 each

900

900

1,000

1,000

         
 

AAVPD Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Related party transactions

Transactions with the director

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Mr L P Wettern

Directors loan account

(498,563)

(58,798)

36,000

(521,361)

         
       

 

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Mr L P Wettern

Directors loan account

(464,573)

(71,667)

37,677

(498,563)