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REGISTERED NUMBER: 08156799 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Avensys Networks Limited

Avensys Networks Limited (Registered number: 08156799)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Avensys Networks Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mr Martin Henry Todd
Ms Julie Dawn Riley



SECRETARY: Ms Julie Dawn Riley



REGISTERED OFFICE: 180 Attercliffe Road
Sheffield
South Yorkshire
S4 7WZ



REGISTERED NUMBER: 08156799 (England and Wales)



ACCOUNTANTS: Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
South Yorkshire
S1 1WR



BANKERS: Santander UK plc
Bridle Road
Bootle
Merseyside
L30 4GB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Avensys Networks Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Avensys Networks Limited for the year ended 30 June 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Avensys Networks Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Avensys Networks Limited and state those matters that we have agreed to state to the Board of Directors of Avensys Networks Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Avensys Networks Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Avensys Networks Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Avensys Networks Limited. You consider that Avensys Networks Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Avensys Networks Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Landin Wilcock & Co
Chartered Accountants
68 Queen Street
Sheffield
South Yorkshire
S1 1WR


25 March 2025

Avensys Networks Limited (Registered number: 08156799)

Balance Sheet
30 June 2024

30/6/24 30/6/23
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,305 2,495
2,305 2,495

CURRENT ASSETS
Debtors 6 14,798 16,892
Cash at bank 31,835 19,574
46,633 36,466
CREDITORS
Amounts falling due within one year 7 (66,391 ) (68,031 )
NET CURRENT LIABILITIES (19,758 ) (31,565 )
TOTAL ASSETS LESS CURRENT LIABILITIES (17,453 ) (29,070 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (17,553 ) (29,170 )
(17,453 ) (29,070 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

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 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 Sections 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.

Avensys Networks Limited (Registered number: 08156799)

Balance Sheet - continued
30 June 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by:





Mr Martin Henry Todd - Director


Avensys Networks Limited (Registered number: 08156799)

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


1. STATUTORY INFORMATION

Avensys Networks Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern

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

During the year the company returned to profitability but still had net current liabilities.

The directors will continue with the measures taken in the year under review with a view to maintaining profitability returning the company to solvency.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 20% on cost
Computer equipment - 33% on cost

Tangible fixed assets are initially measured at cost. Subsequently, they are measured at cost less accumulated depreciation and impairment losses.

Avensys Networks Limited (Registered number: 08156799)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 57,700
AMORTISATION
At 1 July 2023
and 30 June 2024 57,700
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

Avensys Networks Limited (Registered number: 08156799)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


5. TANGIBLE FIXED ASSETS
Improvements
to Computer
property equipment Totals
£    £    £   
COST
At 1 July 2023 10,013 130,819 140,832
Additions - 1,023 1,023
Disposals - (93 ) (93 )
At 30 June 2024 10,013 131,749 141,762
DEPRECIATION
At 1 July 2023 10,013 128,324 138,337
Charge for year - 1,213 1,213
Eliminated on disposal - (93 ) (93 )
At 30 June 2024 10,013 129,444 139,457
NET BOOK VALUE
At 30 June 2024 - 2,305 2,305
At 30 June 2023 - 2,495 2,495

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Trade debtors 3,067 2,882
Other debtors 11,731 14,010
14,798 16,892

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Trade creditors 17,189 12,721
Taxation and social security 2,769 637
Other creditors 46,433 54,673
66,391 68,031