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REGISTERED NUMBER: 08316088 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

AW RAIL SERVICES LTD

AW RAIL SERVICES LTD (REGISTERED NUMBER: 08316088)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AW RAIL SERVICES LTD

Company Information
for the Year Ended 31 December 2022







DIRECTOR: Mr A Ongul





REGISTERED OFFICE: AW Rail Services
Cheriton High Street
Cheriton
Folkestone
Kent
CT19 4QJ





REGISTERED NUMBER: 08316088 (England and Wales)





ACCOUNTANTS: MMP Accounting Solutions Ltd
Unit 34 Basepoint
Shearway Business Park
Folkestone
Kent
CT19 4RH

AW RAIL SERVICES LTD (REGISTERED NUMBER: 08316088)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 261,725 477,047

CURRENT ASSETS
Stocks 670,100 571,949
Debtors 5 2,377,195 1,795,130
Cash at bank and in hand 386,628 1,048,717
3,433,923 3,415,796
CREDITORS
Amounts falling due within one year 6 1,304,702 757,889
NET CURRENT ASSETS 2,129,221 2,657,907
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,390,946

3,134,954

CREDITORS
Amounts falling due after more than
one year

7

(574,785

)

(755,235

)

PROVISIONS FOR LIABILITIES (16,040 ) (16,040 )
NET ASSETS 1,800,121 2,363,679

CAPITAL AND RESERVES
Called up share capital 33 33
Retained earnings 1,800,088 2,363,646
SHAREHOLDERS' FUNDS 1,800,121 2,363,679

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

AW RAIL SERVICES LTD (REGISTERED NUMBER: 08316088)

Balance Sheet - continued
31 December 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 September 2023 and were signed by:





Mr A Ongul - Director


AW RAIL SERVICES LTD (REGISTERED NUMBER: 08316088)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

AW Rail Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 15% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

AW RAIL SERVICES LTD (REGISTERED NUMBER: 08316088)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2021 - 1 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2022 134,378 104,170 90,044
Additions - - -
Disposals - (46,488 ) -
At 31 December 2022 134,378 57,682 90,044
DEPRECIATION
At 1 January 2022 41,119 36,158 50,121
Charge for year 20,157 13,390 19,309
Eliminated on disposal - (11,622 ) -
At 31 December 2022 61,276 37,926 69,430
NET BOOK VALUE
At 31 December 2022 73,102 19,756 20,614
At 31 December 2021 93,259 68,012 39,923

AW RAIL SERVICES LTD (REGISTERED NUMBER: 08316088)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2022 464,514 60,885 853,991
Additions 57,501 6,473 63,974
Disposals (183,021 ) - (229,509 )
At 31 December 2022 338,994 67,358 688,456
DEPRECIATION
At 1 January 2022 212,082 37,464 376,944
Charge for year 75,449 21,363 149,668
Eliminated on disposal (88,259 ) - (99,881 )
At 31 December 2022 199,272 58,827 426,731
NET BOOK VALUE
At 31 December 2022 139,722 8,531 261,725
At 31 December 2021 252,432 23,421 477,047

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2022 133,963
Additions 57,500
Disposals (13,495 )
Reclassification/transfer (13,316 )
At 31 December 2022 164,652
DEPRECIATION
At 1 January 2022 66,266
Charge for year 41,163
Eliminated on disposal (7,310 )
Reclassification/transfer (19,429 )
At 31 December 2022 80,690
NET BOOK VALUE
At 31 December 2022 83,962
At 31 December 2021 67,697

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 1,069,204 904,961
Amounts owed by associates 416,666 466,666
Other debtors 891,325 423,503
2,377,195 1,795,130

AW RAIL SERVICES LTD (REGISTERED NUMBER: 08316088)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts 225,000 225,000
Hire purchase contracts 24,486 19,748
Trade creditors 955,526 420,317
Taxation and social security 75,413 69,723
Other creditors 24,277 23,101
1,304,702 757,889

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 31.12.21
£    £   
Bank loans 492,033 691,667
Hire purchase contracts 82,752 63,568
574,785 755,235