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REGISTERED NUMBER: 09383427 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

4Ward Events Ltd

4Ward Events Ltd (Registered number: 09383427)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


4Ward Events Ltd

Company Information
for the Year Ended 31 January 2023







DIRECTORS: J A Cox
L D Skelding





REGISTERED OFFICE: 8-10 Crown Street
Stourbridge
West Midlands
DY8 1YA





REGISTERED NUMBER: 09383427 (England and Wales)





ACCOUNTANTS: Fredericksons
First Floor
Polymer Court
Hope Street
Dudley
West Midlands
DY2 8RS

4Ward Events Ltd (Registered number: 09383427)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,667 3,619
Investment property 5 374,152 374,152
376,819 377,771

CURRENT ASSETS
Debtors 6 688,510 939,489
Cash at bank 490,078 306,444
1,178,588 1,245,933
CREDITORS
Amounts falling due within one year 7 640,293 1,034,833
NET CURRENT ASSETS 538,295 211,100
TOTAL ASSETS LESS CURRENT
LIABILITIES

915,114

588,871

CREDITORS
Amounts falling due after more than one
year

8

(494,698

)

(584,137

)

PROVISIONS FOR LIABILITIES 10 (507 ) (688 )
NET ASSETS 419,909 4,046

CAPITAL AND RESERVES
Called up share capital 11 6 6
Retained earnings 419,903 4,040
SHAREHOLDERS' FUNDS 419,909 4,046

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

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.

4Ward Events Ltd (Registered number: 09383427)

Balance Sheet - continued
31 January 2023


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 Board of Directors and authorised for issue on 20 September 2023 and were signed on its behalf by:




J A Cox - Director



L D Skelding - Director


4Ward Events Ltd (Registered number: 09383427)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

4Ward Events 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Plant and machinery - 25% on reducing balance
Office equipment - 33% on reducing balance

No depreciation is provided in respect of freehold land and buildings. The company has a policy of regular maintenance and repair, so that the asset maintains its performance standards. The assets are not expected to suffer from economic or technological obsolescence and the estimated residual values are material. An impairment review is carried out annually on the tangible fixed asset at the end of each accounting period, where:- no depreciation is charged as it's deemed immaterial because of the length of the remaining useful economic life or where the estimated residual value is not markedly different from the carrying amount; or the tangible fixed assets estimated useful economic life exceeds 50 years.

Government grants
Government grants are recognised at their fair value received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and that the grants will be received.

Government grants are recognised using the accruals model and where relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related cost for which the grant is intended to compensate. Grants including business rates relief funding and JRS furlough grants, that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the company with no future related costs, are recognised as income for the period in which they become receivable.

4Ward Events Ltd (Registered number: 09383427)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued

Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.

No depreciation or amortisation is provided in respect of investment property. The treatment is a departure from the requirements of the Companies Act 2006 concerning depreciation of fixed assets. However, the investment property is not held for consumption but for investment and the members consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the accounts to give a true and fair view.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

4Ward Events Ltd (Registered number: 09383427)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Totals
£    £    £   
COST
At 1 February 2022
and 31 January 2023 20,752 5,030 25,782
DEPRECIATION
At 1 February 2022 17,619 4,544 22,163
Charge for year 789 163 952
At 31 January 2023 18,408 4,707 23,115
NET BOOK VALUE
At 31 January 2023 2,344 323 2,667
At 31 January 2022 3,133 486 3,619

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022
and 31 January 2023 374,152
NET BOOK VALUE
At 31 January 2023 374,152
At 31 January 2022 374,152

The property was acquired on 24th May 2018 and the directors have assessed the valuation of the property at the balance sheet date and concluded that there is no material change in valuation since acquisition.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 535,843 301,816
Other debtors 152,667 637,673
688,510 939,489

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 109,643 109,643
Trade creditors 14,259 197,166
Taxation and social security 107,864 6,233
Other creditors 408,527 721,791
640,293 1,034,833

4Ward Events Ltd (Registered number: 09383427)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans 494,698 584,137

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 189,460 187,232

9. SECURED DEBTS

National Westminster Bank Plc hold a legal charge dated 24th May 2018 over the commercial property at 8-10 Crown Lane, Stourbridge, West Midlands, DY8 1TP.

National Westminster Bank Plc hold a debenture dated 11th August 2020 containing a fixed and floating charge over all property or undertaking of the company.

10. PROVISIONS FOR LIABILITIES
31.1.23 31.1.22
£    £   
Deferred tax 507 688

Deferred
tax
£   
Balance at 1 February 2022 688
Provided during year (181 )
Balance at 31 January 2023 507

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
2 Ordinary £1 2 2
4 Ordinary 'Non-Voting' £1 4 4
6 6

4Ward Events Ltd (Registered number: 09383427)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

12. RELATED PARTY DISCLOSURES

Creditors (including non interest bearing loans) as at 31st January 2023 include due to 4Ward Retail Ltd £nil (2022 - £3,869).

Debtors (including non interest bearing loans) as at 31st January 2023 include due from 4Ward Leisure Limited £271,390 (2022 - £271,390), 4Ward Retail Ltd £7,896 (2022 - £nil) and Man Cave Expo UK Ltd £100,000 (2022 - £nil).

4Ward Events Limited, 4Ward Retail Limited, 4Ward Leisure Limited and Man Cave Expo UK Ltd share common directors and shareholders.

13. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.