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Unaudited Financial Statements for the Year Ended 31 March 2020 |
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Avid Projects Ltd |
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Unaudited Financial Statements for the Year Ended 31 March 2020 |
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for |
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Avid Projects Ltd |
Avid Projects Ltd (Registered number: 06496668) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2020 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Report of the Accountants | 7 |
Avid Projects Ltd |
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Company Information |
for the Year Ended 31 March 2020 |
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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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26 College Road |
Epsom |
Surrey |
KT17 4EY |
Avid Projects Ltd (Registered number: 06496668) |
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Balance Sheet |
31 March 2020 |
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31/3/20 | 31/3/19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
Avid Projects Ltd (Registered number: 06496668) |
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Balance Sheet - continued |
31 March 2020 |
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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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Avid Projects Ltd (Registered number: 06496668) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2020 |
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1. | STATUTORY INFORMATION |
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Avid Projects 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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Tangible fixed assets |
Depreciation is provided at annual rates in order to write off each asset over its estimated useful life. |
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Stocks of timber |
Stocks are valued at the lower of cost and net realisable value. |
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Taxation |
Taxation for the year comprises current taxation but no deferred tax has been provided. 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 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 balance sheet date. |
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Deferred tax |
Deferred tax has not been provided for. |
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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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Avid Projects Ltd (Registered number: 06496668) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 April 2019 |
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Additions |
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At 31 March 2020 |
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DEPRECIATION |
At 1 April 2019 |
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Charge for year |
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At 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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Included in cost of land and buildings is freehold land of £ 81,973 (2019 - £ 69,205 ) which is not depreciated. |
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5. |
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR |
31/3/20 | 31/3/19 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Avid Projects Ltd (Registered number: 06496668) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
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6. |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR |
31/3/20 | 31/3/19 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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Avid Projects Ltd |
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Report of the Accountants to the Directors of |
Avid Projects Ltd |
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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 Balance Sheet. 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. |
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As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2020 set out on pages nil to nil and you consider that the company is exempt from an audit. |
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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. |
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26 College Road |
Epsom |
Surrey |
KT17 4EY |
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