Company registration number 08105769 (England and Wales)
AVITA TECH LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
AVITA TECH LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
AVITA TECH LTD
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
67,224
36,512
Current assets
Stocks
84,104
118,632
Debtors
4
143,514
343,599
Cash at bank and in hand
862,269
556,660
1,089,887
1,018,891
Creditors: amounts falling due within one year
5
(410,642)
(463,525)
Net current assets
679,245
555,366
Net assets
746,469
591,878
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
746,369
591,778
Total equity
746,469
591,878

For the financial year ended 31 July 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 in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 29 April 2025 and are signed on its behalf by:
Mr G Duckman
Director
Company registration number 08105769 (England and Wales)
AVITA TECH LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information

Avita Tech Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1 Clock House Road, Beckenham, Kent, England, BR3 4JS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

 

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
20% on cost
Plant and equipment
25% on cost
Fixtures and fittings
25% on cost
Computers
25% on cost
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

AVITA TECH LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments
Classification of financial liabilities

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 assets of the company after deducting all of its liabilities.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases
As lessee
AVITA TECH LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.13
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
30
31
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 August 2023
18,461
98,183
116,644
Additions
-
0
42,954
42,954
At 31 July 2024
18,461
141,137
159,598
Depreciation and impairment
At 1 August 2023
18,461
61,671
80,132
Depreciation charged in the year
-
0
12,242
12,242
At 31 July 2024
18,461
73,913
92,374
Carrying amount
At 31 July 2024
-
0
67,224
67,224
At 31 July 2023
-
0
36,512
36,512
AVITA TECH LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
102,183
336,015
Other debtors
41,331
7,584
143,514
343,599
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
243,667
291,667
Corporation tax
56,210
32,863
Other taxation and social security
76,912
109,695
Other creditors
33,853
29,300
410,642
463,525
2024-07-312023-08-01falsefalsefalse29 April 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr R BurbidgeMr G DuckmanMr J P H NimmoMr S F G Philpott081057692023-08-012024-07-31081057692024-07-31081057692023-07-3108105769core:LandBuildings2024-07-3108105769core:OtherPropertyPlantEquipment2024-07-3108105769core:LandBuildings2023-07-3108105769core:OtherPropertyPlantEquipment2023-07-3108105769core:CurrentFinancialInstrumentscore:WithinOneYear2024-07-3108105769core:CurrentFinancialInstrumentscore:WithinOneYear2023-07-3108105769core:ShareCapital2024-07-3108105769core:ShareCapital2023-07-3108105769core:RetainedEarningsAccumulatedLosses2024-07-3108105769core:RetainedEarningsAccumulatedLosses2023-07-3108105769bus:Director22023-08-012024-07-3108105769core:LeaseholdImprovements2023-08-012024-07-3108105769core:PlantMachinery2023-08-012024-07-3108105769core:FurnitureFittings2023-08-012024-07-3108105769core:ComputerEquipment2023-08-012024-07-3108105769core:MotorVehicles2023-08-012024-07-31081057692022-08-012023-07-3108105769core:LandBuildings2023-07-3108105769core:OtherPropertyPlantEquipment2023-07-31081057692023-07-3108105769core:LandBuildings2023-08-012024-07-3108105769core:OtherPropertyPlantEquipment2023-08-012024-07-3108105769core:CurrentFinancialInstruments2024-07-3108105769core:CurrentFinancialInstruments2023-07-3108105769core:WithinOneYear2024-07-3108105769core:WithinOneYear2023-07-3108105769bus:PrivateLimitedCompanyLtd2023-08-012024-07-3108105769bus:SmallCompaniesRegimeForAccounts2023-08-012024-07-3108105769bus:FRS1022023-08-012024-07-3108105769bus:AuditExemptWithAccountantsReport2023-08-012024-07-3108105769bus:Director12023-08-012024-07-3108105769bus:Director32023-08-012024-07-3108105769bus:Director42023-08-012024-07-3108105769bus:FullAccounts2023-08-012024-07-31xbrli:purexbrli:sharesiso4217:GBP