Registered number
04858642
Avonglen Limited
Filleted Accounts
30 September 2024
Avonglen Limited
Statement of Financial Position
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 10,440 17,855
Investments 5 1 1
10,441 17,856
Current assets
Debtors 6 298,578 294,162
Cash at bank and in hand 327,734 423,577
626,312 717,739
Creditors: amounts falling due within one year 7 (133,934) (198,764)
Net current assets 492,378 518,975
Total assets less current liabilities 502,819 536,831
Creditors: amounts falling due after more than one year 8 (7,549) (18,351)
Provisions for liabilities (1,224) (4,464)
Net assets 494,046 514,016
Capital and reserves
Called up share capital 60 60
Capital Redemption Reserve 90 90
Profit and loss account 493,896 513,866
Shareholders' funds 494,046 514,016
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr T J Hilton
Director
Approved by the board on 14 May 2025
Company registration number: 04858642
Avonglen Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents amounts invoiced in respect of services rendered during the year, exclusive of Value Added Tax.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 33% straight line
Furniture and fittings 25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated imparirment losess.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 18 18
3 Profit before taxation 2024 2023
£ £
Profit before taxation is stated after charging:
Depreciation of tangible assets 10,510 10,223
4 Tangible fixed assets
Computer Equipment Furniture and fittings Total
£ £ £
Cost
At 1 October 2023 82,447 16,679 99,126
Additions 3,095 - 3,095
Disposals (38,972) - (38,972)
At 30 September 2024 46,570 16,679 63,249
Depreciation
At 1 October 2023 70,738 10,533 81,271
Charge for the year 8,051 2,459 10,510
On disposals (38,972) - (38,972)
At 30 September 2024 39,817 12,992 52,809
Net book value
At 30 September 2024 6,753 3,687 10,440
At 30 September 2023 11,709 6,146 17,855
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 October 2023 1
At 30 September 2024 1
The company owns 100% of the share capital in FD Online Limited, a company registered in England and Wales.
6 Debtors 2024 2023
£ £
Trade debtors 250,116 275,704
Other debtors 48,462 18,458
298,578 294,162
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,648 10,000
Trade creditors 29,020 9,278
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1 1
Taxation and social security costs 59,749 114,163
Other creditors 34,516 65,322
133,934 198,764
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 7,549 18,351
9 Loans to directors
B/fwd Paid Repaid C/fwd
£ £ £ £
Loans to directors - 55,000 (25,000) 30,000
- 55,000 (25,000) 30,000
# Other information
Avonglen Limited is a private company limited by shares and incorporated in England. Its registered office is:
Epsilon House
Enterprise Road
Southampton Science Park
Southampton
SO16 7NS
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