Company Registration No. 12195672 (England and Wales)
Avid International Limited
Unaudited accounts
for the year ended 30 September 2021
Avid International Limited
Unaudited accounts
Contents
Avid International Limited
Company Information
for the year ended 30 September 2021
Directors
Duoyi Charlotte Zhao
Oliver Timothy Strong
Company Number
12195672 (England and Wales)
Registered Office
C/O Accounts & Legal Suite 1-3
Hop Exchange, 24 Southwark Street
London
SE1 1TY
United Kingdom
Accountants
Accounts and Legal Consultants Limited
Suite 1-3
The Hop Exchange
24 Southwark Street
London
SE1 1TY
Avid International Limited
Accountants' report
Accountants' report to the board of directors of Avid International Limited on the preparation of the unaudited statutory accounts for the year ended 30 September 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Avid International Limited for the year ended
30 September 2021 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Avid International Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Avid International Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Avid International Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Avid International Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Avid International Limited. You consider that Avid International Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Avid International Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Accounts and Legal Consultants Limited
Suite 1-3
The Hop Exchange
24 Southwark Street
London
SE1 1TY
12 May 2022
Avid International Limited
Statement of financial position
as at
30 September 2021
Cash at bank and in hand
222,388
516,114
Creditors: amounts falling due within one year
(874)
(2,595)
Net current assets
315,191
514,205
Net assets
315,358
514,441
Called up share capital
2
2
Share premium
720,007
720,007
Profit and loss account
(404,651)
(205,568)
Shareholders' funds
315,358
514,441
For the year ending 30 September 2021 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 May 2022 and were signed on its behalf by
Duoyi Charlotte Zhao
Director
Company Registration No. 12195672
Avid International Limited
Notes to the Accounts
for the year ended 30 September 2021
Avid International Limited is a private company, limited by shares, registered in England and Wales, registration number 12195672. The registered office is C/O Accounts & Legal Suite 1-3 , Hop Exchange, 24 Southwark Street, London, SE1 1TY, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% Straight Line
The directors consider that it is appropriate to prepare the financial statements on a going concern basis as Avid International is launching its product in the next financial year against which revenue is expected and is in advance stages of securing equity funding which will support the business until such time as it position improves.
Avid International Limited
Notes to the Accounts
for the year ended 30 September 2021
4
Tangible fixed assets
Computer equipment
Cost or valuation
At cost
5
Debtors: amounts falling due within one year
2021
2020
6
Creditors: amounts falling due within one year
2021
2020
Taxes and social security
4
2,046
Loans from directors
147
111
7
Average number of employees
During the year the average number of employees was 3 (2020: 3).