AVANT GARDE CONCEPTS LIMITED


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AVANT GARDE CONCEPTS LIMITED

Registered Number
12055875
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

AVANT GARDE CONCEPTS LIMITED
Company Information
for the year from 1 July 2022 to 30 June 2023

Directors

CLARKSON, Robert James
RIDDELL, Lloyd

Registered Address

59 Kenton Road
Gosforth
Newcastle Upon Tyne
NE3 4NJ

Registered Number

12055875 (England and Wales)
AVANT GARDE CONCEPTS LIMITED
Balance Sheet as at
30 June 2023

Notes

2023

2022

£

£

£

£

Current assets
Stocks-20,195
Debtors72,404-
Cash at bank and on hand2,68320,530
75,08740,725
Creditors amounts falling due within one year3(24,682)(26,558)
Net current assets (liabilities)50,40514,167
Total assets less current liabilities50,40514,167
Creditors amounts falling due after one year4(9,640)(14,087)
Net assets40,76580
Capital and reserves
Called up share capital22
Profit and loss account40,76378
Shareholders' funds40,76580
  • The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
  • The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The financial statements were approved and authorised for issue by the Board of Directors on 28 March 2024, and are signed on its behalf by:
CLARKSON, Robert James
Director
Registered Company No. 12055875
AVANT GARDE CONCEPTS LIMITED
Notes to the Financial Statements
for the year ended 30 June 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
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 policy
Turnover is measured at 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.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year22
3.Creditors: amounts due within one year

2023

2022

££
Bank borrowings and overdrafts5,0005,554
Amounts owed to related parties-96
Taxation and social security10,4893,762
Accrued liabilities and deferred income9,19317,146
Total24,68226,558
4.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts9,64014,087
Total9,64014,087
5.Provisions for liabilities
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.