AVA Experience Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 11339869

AVA Experience Limited

Filleted Unaudited Financial Statements

31 December 2024

AVA Experience Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	$	$

Fixed assets

Intangible assets	5	5,272	13,523
Tangible assets	6	964	968
		-------	--------
		6,236	14,491

Current assets

Stocks		27,395	39,685
Debtors	7	381,051	325,753
Cash at bank and in hand		247,566	143,518
		---------	---------
		656,012	508,956

Creditors: amounts falling due within one year	8	124,133	65,588
		---------	---------
Net current assets		531,879	443,368
		---------	---------
Total assets less current liabilities		538,115	457,859

Creditors: amounts falling due after more than one year	9	1,578	4,781
		---------	---------
Net assets		536,537	453,078
		---------	---------

Capital and reserves

Called up share capital	4	4
Share premium account	686,438	686,438
Revaluation reserve	16,575	25,641
Profit and loss account	( 166,480)	( 259,005)
	---------	---------
Shareholders funds	536,537	453,078
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 Act with respect to accounting records and the preparation of financial statements .

AVA Experience Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 24 September 2025 , and are signed on behalf of the board by:

Mr C Smith

Director

Company registration number: 11339869

AVA Experience Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 1, First Floor, 1 Duchess Street, London, W1W 6AN.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in US Dollar ($), the functional currency of the entity is Sterling (£).

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents income from event planning and organisation fees, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Website development	-	25% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% straight line
Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).

5. Intangible assets

	Website development
	$
Cost
At 1 January 2024 and 31 December 2024	102,602
	---------
Amortisation
At 1 January 2024	89,079
Charge for the year	8,251
	---------
At 31 December 2024	97,330
	---------
Carrying amount
At 31 December 2024	5,272
	---------
At 31 December 2023	13,523
	---------

6. Tangible assets

	Plant and machinery	Equipment	Total
	$	$	$
Cost
At 1 January 2024	2,575	11,406	13,981
Additions	–	1,031	1,031
	-------	--------	--------
At 31 December 2024	2,575	12,437	15,012
	-------	--------	--------
Depreciation
At 1 January 2024	2,307	10,706	13,013
Charge for the year	268	767	1,035
	-------	--------	--------
At 31 December 2024	2,575	11,473	14,048
	-------	--------	--------
Carrying amount
At 31 December 2024	–	964	964
	-------	--------	--------
At 31 December 2023	268	700	968
	-------	--------	--------

7. Debtors

	2024	2023
	$	$
Trade debtors	13,752	12,742
Amounts owed by group undertakings and undertakings in which the company has a participating interest	324,777	249,584
Other debtors	42,522	63,427
	---------	---------
	381,051	325,753
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	$	$
Bank loans and overdrafts	3,122	3,096
Trade creditors	41,203	26,105
Social security and other taxes	25,201	13,476
Other creditors	54,607	22,911
	---------	--------
	124,133	65,588
	---------	--------

9. Creditors: amounts falling due after more than one year

	2024	2023
	$	$
Bank loans and overdrafts	1,578	4,781
	-------	-------

10. Share options

The total number of options granted under the Unapproved Share Option Plan (USOP) which remain unexercised at the year end were 38,650 (2023: 38,650)