Avelyn & Gill Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 10210585 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

AVELYN & GILL LTD

Page

Company Information

1

Report of the Accountants

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

Mrs Raman Kaur

Dr Prabhjot S Gill

REGISTERED OFFICE:

90 Cranham Road

Hornchurch

Essex

RM11 2AD

REGISTERED NUMBER:

10210585 (England and Wales)

ACCOUNTANTS:

Prestons

Chartered Accountants

364-368 Cranbrook Road

Gants Hill

Ilford

Essex

IG2 6HY

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 30 June 2023 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Prestons

Chartered Accountants

364-368 Cranbrook Road

Gants Hill

Ilford

Essex

IG2 6HY

15 December 2023

FIXED ASSETS

Tangible assets

4

794

185

CURRENT ASSETS

Debtors

5

188,428

151,582

Cash at bank and in hand

79,823

14,448

268,251

166,030

CREDITORS

Amounts falling due within one year

6

42,579

28,139

NET CURRENT ASSETS

225,672

137,891

TOTAL ASSETS LESS CURRENT LIABILITIES

226,466

138,076

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

226,366

137,976

SHAREHOLDERS' FUNDS

226,466

138,076

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 December 2023 and were signed on its behalf by:

Dr Prabhjot S Gill - Director

1.	STATUTORY INFORMATION

Avelyn & Gill Ltd 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.

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.

Turnover

Turnover is measured as the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the costs of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Plant and Machinery - 25% Straight Line

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit and loss.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2022

1,097

Additions

975

At 30 June 2023

2,072

DEPRECIATION

At 1 July 2022

912

Charge for year

366

At 30 June 2023

1,278

NET BOOK VALUE

At 30 June 2023

794

At 30 June 2022

185

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Other debtors

188,428

151,582

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Taxation and social security

40,949

26,699

Other creditors

1,630

1,440

42,579

28,139

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022:

30.6.23

30.6.22

£

£

Mrs Raman Kaur and Dr Prabhjot S Gill

Balance outstanding at start of year

(482

)

3,007

Amounts advanced

10,710

6,253

Amounts repaid

(15,461

)

(9,742

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(5,233

)

(482

)

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs Raman Kaur.