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REGISTERED NUMBER: 08934796 (England and Wales)









AVAN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024






AVAN LIMITED (REGISTERED NUMBER: 08934796)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AVAN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: S Navaratnarajah
Miss S A H Navaratnarajah





REGISTERED OFFICE: Group Admin Office
637 Newport Road
Rumney
Cardiff
South Glam
CF3 4FB





REGISTERED NUMBER: 08934796 (England and Wales)

AVAN LIMITED (REGISTERED NUMBER: 08934796)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 327,500 360,250
Tangible assets 5 1,229,588 1,293,069
Investments 6 100 100
1,557,188 1,653,419

CURRENT ASSETS
Debtors 7 326,576 315,904
Cash at bank and in hand 563,168 334,736
889,744 650,640
CREDITORS
Amounts falling due within one year 8 556,586 514,771
NET CURRENT ASSETS 333,158 135,869
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,890,346

1,789,288

CREDITORS
Amounts falling due after more than one
year

9

(601,310

)

(654,174

)

PROVISIONS FOR LIABILITIES 12 (32,163 ) (40,325 )
NET ASSETS 1,256,873 1,094,789

AVAN LIMITED (REGISTERED NUMBER: 08934796)

BALANCE SHEET - continued
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 13 1,000 1,000
Retained earnings 1,255,873 1,093,789
SHAREHOLDERS' FUNDS 1,256,873 1,094,789

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 15 April 2025 and were signed on its behalf by:





S Navaratnarajah - Director


AVAN LIMITED (REGISTERED NUMBER: 08934796)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Avan 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.

Group accounts
In preparing these financial statements advantage has been taken of the exemptions conferred by section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the grounds that the group is entitled to the benefit of those exemptions as a small size group. These financial statements therefore present information about the company as an individual undertaking and not about its group.

Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making their assessment,the directors have reviewed the balance sheet, the likely future cashflows of the business and have considered the facilities that are available to the company along with their continued support.

At the date of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Useful economic lives of tangible assets - The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect the current estimate based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See notes for the carrying amount of the tangible fixed assets and accounting policies in note 1 for the useful economic lives of each class of asset.

AVAN LIMITED (REGISTERED NUMBER: 08934796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at fair value of the consideration received or receivable net of VAT and discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services:

Turnover comprises fee receivable for the provision of care home facilities invoiced to private individuals and local authorities. Sales invoices are raised in advance and recognised in the profit and loss account in the period which the services are delivered to the individual.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of twenty years.

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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.


AVAN LIMITED (REGISTERED NUMBER: 08934796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliably estimated.

Borrowing costs
Borrowing costs including loan interest and loan arrangement charges are directly attributable to the acquisition, construction of the properties, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. All other borrowing costs are recognised in profit and loss in the period in which they are incurred.
Loan arrangement and set up fees paid to the lender are deferred and written off to the Profit and Loss account over the term of loan.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

AVAN LIMITED (REGISTERED NUMBER: 08934796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 ' Basic Financial Instruments '.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, loans from related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 29 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 655,000
AMORTISATION
At 1 November 2023 294,750
Amortisation for year 32,750
At 31 October 2024 327,500
NET BOOK VALUE
At 31 October 2024 327,500
At 31 October 2023 360,250

AVAN LIMITED (REGISTERED NUMBER: 08934796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 November 2023 938,275 257,797 112,606
Additions - - 2,254
Disposals - - -
At 31 October 2024 938,275 257,797 114,860
DEPRECIATION
At 1 November 2023 18,765 125,107 55,485
Charge for year 18,766 25,780 8,907
Eliminated on disposal - - -
At 31 October 2024 37,531 150,887 64,392
NET BOOK VALUE
At 31 October 2024 900,744 106,910 50,468
At 31 October 2023 919,510 132,690 57,121

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2023 194,660 140,400 31,986 1,675,724
Additions - 39,915 3,399 45,568
Disposals - (31,425 ) - (31,425 )
At 31 October 2024 194,660 148,890 35,385 1,689,867
DEPRECIATION
At 1 November 2023 117,378 40,992 24,928 382,655
Charge for year 11,592 20,433 5,894 91,372
Eliminated on disposal - (13,748 ) - (13,748 )
At 31 October 2024 128,970 47,677 30,822 460,279
NET BOOK VALUE
At 31 October 2024 65,690 101,213 4,563 1,229,588
At 31 October 2023 77,282 99,408 7,058 1,293,069

AVAN LIMITED (REGISTERED NUMBER: 08934796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2023 140,400
Additions 39,915
Disposals (31,425 )
At 31 October 2024 148,890
DEPRECIATION
At 1 November 2023 40,992
Charge for year 20,433
Eliminated on disposal (13,748 )
At 31 October 2024 47,677
NET BOOK VALUE
At 31 October 2024 101,213
At 31 October 2023 99,408

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2023
and 31 October 2024 100
NET BOOK VALUE
At 31 October 2024 100
At 31 October 2023 100

AVAN LIMITED (REGISTERED NUMBER: 08934796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

6. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Avan Investments (UK) Limited
Registered office:
Nature of business: Operating own or leased real estate
%
Class of shares: holding
Ordinary 100.00

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 108,581 85,829
Amounts owed by group undertakings 187,252 187,252
Other debtors - 25,000
Prepayments and accrued income 30,743 17,823
326,576 315,904

There is no formal agreement between the group undertaking balance and the Company for the group undertakings to repay their loans in more than one year. All the loans are repayable by demand and are shown at cost. The amounts shown in the accounts are at their carrying values.

Loan arrangement and set up fees paid to the lender are deferred and written off to the Profit and Loss account over the term of lease.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 60,000 60,000
Hire purchase contracts (see note 10) 3,473 3,944
Trade creditors 45,580 49,129
Taxation and social security 144,573 108,323
Other creditors 302,960 293,375
556,586 514,771

AVAN LIMITED (REGISTERED NUMBER: 08934796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 520,000 580,000
Hire purchase contracts (see note 10) 81,310 74,174
601,310 654,174

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 3,473 3,944
Between one and five years 81,310 74,174
84,783 78,118

Non-cancellable operating leases
2024 2023
£    £   
Within one year 6,000 6,000

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 580,000 640,000
Hire purchase contracts 84,783 78,118
664,783 718,118

Handelsbanken PLC hold fixed and floating charges, which contains negative pledge, over all properties and assets, future assets including goodwill.

All hire purchase obligations are secured against the asset it relates too.

AVAN LIMITED (REGISTERED NUMBER: 08934796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 32,163 40,325

Deferred
tax
£   
Balance at 1 November 2023 40,325
Decelerated capital allowances (8,162 )
Balance at 31 October 2024 32,163

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
510 Ordinary A £1 510 510
350 Ordinary B £1 350 350
860 860

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
140 Ordinary 'C' shares £1 140 140

In December 2022 the company reorganised its share capital into A, B and C Ordinary shares.

14. TRANSACTIONS WITH DIRECTORS

At the reporting date the company owed the directors £214,191 (2023 - £212,191). This balance is included within creditors.

The directors operate interest free loan accounts with the company which are repayable on demand.



.

AVAN LIMITED (REGISTERED NUMBER: 08934796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

15. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' section 33.1A, not to disclose related party transactions with wholly owned subsidiaries within the group.

16. ULTIMATE CONTROLLING PARTY

The controlling party is S Navaratnarajah.