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Registration number: 07788734

AWA Builders Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2021

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
AWA Builders Limited
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 AWA Builders Limited for the year ended 30 September 2021 as set out on pages 2 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of AWA Builders Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of AWA Builders Limited and state those matters that we have agreed to state to the Board of Directors of AWA Builders Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AWA Builders Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that AWA Builders 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 profit of AWA Builders Limited. You consider that AWA Builders 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 AWA Builders 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.

......................................

MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

13 September 2022

 

AWA Builders Limited

(Registration number: 07788734)
Balance Sheet as at 30 September 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

1,122

1,498

Current assets

 

Debtors

5

52,626

56,249

Cash at bank and in hand

 

70,382

3,808

 

123,008

60,057

Creditors: Amounts falling due within one year

6

(74,075)

(38,147)

Net current assets

 

48,933

21,910

Total assets less current liabilities

 

50,055

23,408

Creditors: Amounts falling due after more than one year

6

(20,228)

-

Provisions for liabilities

(213)

(285)

Net assets

 

29,614

23,123

Capital and reserves

 

Called up share capital

7

166

166

Retained earnings

29,448

22,957

Shareholders' funds

 

29,614

23,123

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 13 September 2022
 

.........................................
Mr A Alderton
Director

 

AWA Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

All figures are presented in British Sterling, which is the functional currency of the company, and are rounded to the nearest £1.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants relating to revenue expenditure are recognised in income over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

AWA Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance basis

Office equipment

25% reducing balance basis

Motor vehicles

25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

AWA Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2020 - 1).

 

AWA Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2020

1,056

3,583

7,205

11,844

At 30 September 2021

1,056

3,583

7,205

11,844

Depreciation

At 1 October 2020

687

2,995

6,664

10,346

Charge for the year

93

148

135

376

At 30 September 2021

780

3,143

6,799

10,722

Carrying amount

At 30 September 2021

276

440

406

1,122

At 30 September 2020

369

588

541

1,498

5

Debtors

Current

2021
£

2020
£

Prepayments

626

-

Other debtors

52,000

56,249

6

Creditors

Note

2021
 £

2020
 £

Due within one year

 

Loans and borrowings

2,660

-

Trade creditors

 

2,407

13

Social security and other taxes

 

929

-

Other payables

 

58,157

36,621

Accrued expenses

 

1,513

1,513

Corporation tax liability

8,409

-

 

74,075

38,147

Due after one year

 

Loans and borrowings

20,228

-

7

Share capital

Allotted, called up and fully paid shares

 

AWA Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021

 

2021

2020

 

No.

£

No.

£

Ordinary of £1 each

166

166

166

166

         

8

Related party transactions

Transactions with the director

2021

At 1 October 2020
£

Advances to director
£

Repayments by director
£

At 30 September 2021
£

Mr A Alderton

Undated, unsecured and interest free directors loan account which is repayable on demand

(36,620)

8,463

(30,000)

(58,157)

         
       

 

2020

At 1 October 2019
£

Advances to director
£

Repayments by director
£

At 30 September 2020
£

Mr A Alderton

Undated, unsecured and interest free directors loan account which is repayable on demand

(30,370)

10,296

(16,546)

(36,620)

         
       

 

Dividends paid to the director

   

2021
£

 

2020
£

Mr A Alderton

       

Ordinary

 

18,072

 

-

         

Summary of transactions with other related parties

A & J Dwellings Ltd
 Included within other debtors is an amount owed by A & J Dwellings Ltd of £52,000 (2020 - £52,000) which is another company that A Alderton is a director of. This amount is undated, unsecured, interest free and repayable on demand.
 

 

AWA Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021

9

Loans and borrowings

2021
 £

Non-current loans and borrowings

Bank borrowings

20,228

2021
 £

Current loans and borrowings

Bank borrowings

2,660