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Unaudited Financial Statements For The Year Ended 31 March 2021 |
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Av Distribution Ltd |
REGISTERED NUMBER:
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Unaudited Financial Statements For The Year Ended 31 March 2021 |
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for |
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Av Distribution Ltd |
Av Distribution Ltd (Registered number: 05385699) |
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Contents of the Financial Statements |
For The Year Ended 31 March 2021 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Av Distribution Ltd |
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Company Information |
For The Year Ended 31 March 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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3 Hardman Sqaure |
Spinningfields |
Manchester |
M3 3EB |
Av Distribution Ltd (Registered number: 05385699) |
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Statement of Financial Position |
31 March 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 8 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | 10 |
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SHAREHOLDERS' FUNDS |
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Av Distribution Ltd (Registered number: 05385699) |
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Statement of Financial Position - continued |
31 March 2021 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Av Distribution Ltd (Registered number: 05385699) |
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Notes to the Financial Statements |
For The Year Ended 31 March 2021 |
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1. | STATUTORY INFORMATION |
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Av Distribution Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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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. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Av Distribution Ltd (Registered number: 05385699) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 March 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The Company holds or issues financial instruments in order to finance its operations. Various financial instruments, for example trade debtors and creditors, arise directly from the company's operations. |
Transactions involving financial instruments result in the Company assuming or transferring to another party one or more of the following financial risks:- |
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Liquidity risk |
The Company manages its cash and borrowing requirements in order to minimise interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the business. Cash flows are forecasted and monitored on a regular basis. |
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Credit risk |
Trade debtors are monitored on an ongoing basis and provision is made against doubtful debts for the proportion of the debts which are considered to be irrecoverable. Bad debts are written off at the point where the probability of a recovery becomes unlikely. Exposure to credit risk is limited by the monitoring of customer risk profiles using both internal and external sources. Appropriate action is taken with customers to limit the associated credit risks where a change in risk is identified. |
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Going concern |
The financial statements have been prepared on a going concern basis. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 April 2020 |
and 31 March 2021 |
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AMORTISATION |
At 1 April 2020 |
and 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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At 31 March 2020 |
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Av Distribution Ltd (Registered number: 05385699) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 March 2021 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 April 2020 |
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Additions |
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Disposals |
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At 31 March 2021 |
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DEPRECIATION |
At 1 April 2020 |
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Charge for year |
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Eliminated on disposal |
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At 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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At 31 March 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 385,765 | 492,964 |
Av Distribution Ltd (Registered number: 05385699) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 March 2021 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2021 | 2020 |
£ | £ |
Bank loans |
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The mortgage is secured against the property. |
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10. | RESERVES |
Retained |
earnings |
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At 1 April 2020 |
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Profit for the year |
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Dividends | ( |
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At 31 March 2021 |
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11. | RELATED PARTY DISCLOSURES |
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Included in other debtors is a balance of £Nil (2020 - £155,274) due from D4AV Ltd a company related by virtue of 50% ownership and common director, Mr C Pickles. |