2 2 Avomed Limited 10028026 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is that of the provision of consultancy services. Digita Accounts Production Advanced 6.30.9574.0 true 10028026 2023-07-01 2024-06-30 10028026 2024-06-30 10028026 bus:OrdinaryShareClass1 2024-06-30 10028026 bus:OrdinaryShareClass2 2024-06-30 10028026 core:CurrentFinancialInstruments 2024-06-30 10028026 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 10028026 core:Non-currentFinancialInstruments 2024-06-30 10028026 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 10028026 core:OfficeEquipment 2024-06-30 10028026 bus:SmallEntities 2023-07-01 2024-06-30 10028026 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 10028026 bus:FilletedAccounts 2023-07-01 2024-06-30 10028026 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 10028026 bus:RegisteredOffice 2023-07-01 2024-06-30 10028026 bus:Director1 2023-07-01 2024-06-30 10028026 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 10028026 bus:OrdinaryShareClass2 2023-07-01 2024-06-30 10028026 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10028026 bus:Agent1 2023-07-01 2024-06-30 10028026 core:OfficeEquipment 2023-07-01 2024-06-30 10028026 countries:AllCountries 2023-07-01 2024-06-30 10028026 2023-06-30 10028026 core:OfficeEquipment 2023-06-30 10028026 2022-07-01 2023-06-30 10028026 2023-06-30 10028026 bus:OrdinaryShareClass1 2023-06-30 10028026 bus:OrdinaryShareClass2 2023-06-30 10028026 core:CurrentFinancialInstruments 2023-06-30 10028026 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 10028026 core:Non-currentFinancialInstruments 2023-06-30 10028026 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 10028026 core:OfficeEquipment 2023-06-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 10028026

Avomed Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Avomed Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Avomed Limited

Company Information

Director

Mr S Coles

Registered office

Unit 12
Old Mills Industrial Estate
Paulton
Bristol
BS39 7SU

Accountants

Fuller & Roper Limited Unit 12 Old Mills Industrial Estate
Paulton
Bristol
BS39 7SU

 

Avomed Limited

(Registration number: 10028026)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

321

713

Current assets

 

Debtors

6

79,602

55,505

Cash at bank and in hand

 

31,584

34,145

 

111,186

89,650

Creditors: Amounts falling due within one year

7

(81,344)

(59,314)

Net current assets

 

29,842

30,336

Total assets less current liabilities

 

30,163

31,049

Creditors: Amounts falling due after more than one year

7

(10,833)

(20,833)

Net assets

 

19,330

10,216

Capital and reserves

 

Called up share capital

8

200

200

Retained earnings

19,130

10,016

Shareholders' funds

 

19,330

10,216

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.

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.

 

Avomed Limited

(Registration number: 10028026)
Balance Sheet as at 30 June 2024

These financial statements have been prepared and 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.

Approved and authorised by the director on 22 March 2025
 

.........................................
Mr S Coles
Director

 

Avomed Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

Avomed Limited is a private company, limited by shares, domiciled in England and Wales. The company’s registration number is 10028026. The registered office is Unit 12 Old Mills Industrial Estate, Paulton, Bristol, BS39 7SU.

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

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 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.

 

Avomed Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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.

Tangible assets

Tangible assets are stated in the balance sheet 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

Furniture, fittings and equipment

33% on cost

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.

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.

 

Avomed Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

392

876

 

Avomed Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 July 2023

11,049

11,049

At 30 June 2024

11,049

11,049

Depreciation

At 1 July 2023

10,336

10,336

Charge for the year

392

392

At 30 June 2024

10,728

10,728

Carrying amount

At 30 June 2024

321

321

At 30 June 2023

713

713

6

Debtors

Current

2024
£

2023
£

Trade debtors

63,310

39,293

Other debtors

16,292

16,212

 

79,602

55,505

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

10,000

10,000

Trade creditors

 

16,979

17,208

Taxation and social security

 

51,636

29,563

Accruals and deferred income

 

2,640

2,530

Other creditors

 

89

13

 

81,344

59,314

 

Avomed Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

10,833

20,833

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

A shares of £1 each

100

100

100

100

B shares of £1 each

100

100

100

100

 

200

200

200

200

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

10,833

20,833

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

10

Related party transactions

Included within other creditors is a loan of £88 (2023 - £13) from Mr S Coles, a director of the company. This amount is unsecured, interest free and repayable on demand.

Included within other debtors is a loan of £15,793 (2023 - £15,714) to Avomed International Limited, a company under common control. This amount is unsecured, interest free and repayable on demand.

Included within other debtors is a loan of £498 (2023 - £498) to Farrington Holdings Limited, a company under common control. This amount is unsecured, interest free and repayable on demand.