Avisar Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05892721

Avisar Limited

Filleted Unaudited Financial Statements

31 July 2024

Avisar Limited

Statement of Financial Position

31 July 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5	4,856	5,713
Investments	6	2,910,420	2,517,216
		------------	------------
		2,915,276	2,522,929

Current assets

Stocks		950	1,095
Debtors	7	75,509	60,069
Cash at bank and in hand		270,956	675,952
		---------	---------
		347,415	737,116

Creditors: amounts falling due within one year	8	757,824		765,283
		---------		---------
Net current liabilities			410,409	28,167
			------------	------------
Total assets less current liabilities			2,504,867	2,494,762
			------------	------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	2,504,767	2,494,662
	------------	------------
Shareholders funds	2,504,867	2,494,762
	------------	------------

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 income and retained earnings has not been delivered.

For the year ending 31 July 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 .

Avisar Limited

Statement of Financial Position (continued)

31 July 2024

These financial statements were approved by the board of directors and authorised for issue on 30 October 2025 , and are signed on behalf of the board by:

P. Rothem

Director

Company registration number: 05892721

Avisar Limited

Notes to the Financial Statements

Year ended 31 July 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 Hallswelle House, 1 Hallswelle Road, London, NW11 ODH.

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 sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

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:

	Fixtures & fittings	-	15% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

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

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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Employee numbers

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

5. Tangible assets

	Fixtures and fittings	Total
	£	£
Cost
At 1 August 2023 and 31 July 2024	23,361	23,361
	--------	--------
Depreciation
At 1 August 2023	17,648	17,648
Charge for the year	857	857
	--------	--------
At 31 July 2024	18,505	18,505
	--------	--------
Carrying amount
At 31 July 2024	4,856	4,856
	--------	--------
At 31 July 2023	5,713	5,713
	--------	--------

6. Investments

	Other investments other than loans
	£
Cost
At 1 August 2023	2,517,216
Additions	619,271
Disposals	( 226,067)
	------------
At 31 July 2024	2,910,420
	------------
Impairment
At 1 August 2023 and 31 July 2024	–
	------------

Carrying amount
At 31 July 2024	2,910,420
	------------
At 31 July 2023	2,517,216
	------------

Included within the Investments of the company were shares costing £1,843,424 (2022 £2,511,764). The market value of these investments as at 31st July 2023 was £1,128,296 (2022 £2,093,461).

7. Debtors

	2024	2023
	£	£
Trade debtors	60,837	42,559
Other debtors	14,672	17,510
	--------	--------
	75,509	60,069
	--------	--------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	142	6,986
Corporation tax	–	6,002
Other creditors	757,682	752,295
	---------	---------
	757,824	765,283
	---------	---------

9. Related party transactions

The company was under the control of Mr P.Rothem throughout the current and previous year. Mr Rothem is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.