1 April 2022 v2023.26.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP118405442022-04-012023-03-31118405442023-03-31118405442022-03-3111840544core:WithinOneYear2023-03-3111840544core:WithinOneYear2022-03-3111840544core:AfterOneYear2023-03-3111840544core:AfterOneYear2022-03-3111840544core:ShareCapital2023-03-3111840544core:ShareCapital2022-03-3111840544core:RetainedEarningsAccumulatedLosses2023-03-3111840544core:RetainedEarningsAccumulatedLosses2022-03-3111840544bus:Director12022-04-012023-03-3111840544bus:RegisteredOffice2022-04-012023-03-3111840544core:PlantMachinery2022-04-012023-03-3111840544core:OfficeEquipment2022-04-012023-03-3111840544core:MotorVehicles2022-04-012023-03-31118405442021-04-012022-03-3111840544core:PlantMachinery2022-04-0111840544core:PlantMachinery2023-03-3111840544core:PlantMachinery2022-03-311184054412022-04-012023-03-3111840544countries:EnglandWales2022-04-012023-03-3111840544bus:AuditExemptWithAccountantsReport2022-04-012023-03-3111840544bus:PrivateLimitedCompanyLtd2022-04-012023-03-3111840544bus:SmallEntities2022-04-012023-03-3111840544bus:FullAccounts2022-04-012023-03-31
Company registration number:
11840544
AMW Carpentry & Installations Ltd
Unaudited Filleted Financial Statements for the year ended
31 March 2023
AMW Carpentry & Installations Ltd
Report of the Accountant to the director of AMW Carpentry & Installations Ltd
Year ended
31 March 2023
These financial statements have been prepared in accordance with my terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended
31 March 2023
.
I have prepared these financial statements based on the accounting records, information and explanations provided by you. I do not express any opinion on the financial statements.
On the statement of financial position you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give a "true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
MPA Accounting
The Grain Store
Merstone Lane
Merstone
Isle of Wight
PO30 3DE
United Kingdom
Date:
16 November 2023
AMW Carpentry & Installations Ltd
Statement of Financial Position
31 March 2023
20232022
Note££
Fixed assets    
Tangible assets 5
15,163
 
16,952
 
Current assets    
Stocks
3,000
 
2,000
 
Debtors 6
90,555
 
108,403
 
Cash at bank and in hand
45,215
 
46,040
 
138,770
 
156,443
 
Creditors: amounts falling due within one year 7
(68,461
)
(69,946
)
Net current assets
70,309
 
86,497
 
Total assets less current liabilities 85,472   103,449  
Creditors: amounts falling due after more than one year 8
(18,464
)
(31,432
)
Net assets
67,008
 
72,017
 
Capital and reserves    
Called up share capital
10
 
10
 
Profit and loss account
66,998
 
72,007
 
Shareholders funds
67,008
 
72,017
 
For the year ending
31 March 2023
, 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 financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
16 November 2023
, and are signed on behalf of the board by:
A Ward
Director
Company registration number:
11840544
AMW Carpentry & Installations Ltd
Notes to the Financial Statements
Year ended
31 March 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
52 Wellington Road
,
Binstead
,
Ryde
,
Isle Of Wight
,
PO33 3QR
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
20% reducing balance
Office equipment
20% reducing balance
Motor vehicles
20% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Construction contracts

Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end.
Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred.
The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
5
(2022:
4.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 April 2022
27,341
 
Additions
1,696
 
At
31 March 2023
29,037
 
Depreciation  
At
1 April 2022
10,389
 
Charge
3,485
 
At
31 March 2023
13,874
 
Carrying amount  
At
31 March 2023
15,163
 
At 31 March 2022
16,952
 

6 Debtors

20232022
££
Trade debtors
90,555
 
104,517
 
Other debtors -  
3,886
 
90,555
 
108,403
 

7 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
6,389
 
6,389
 
Trade creditors
14,870
 
21,855
 
Taxation and social security
31,037
 
40,322
 
Other creditors
16,165
 
1,380
 
68,461
 
69,946
 

8 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
14,511
 
20,300
 
Other creditors
3,953
 
11,132
 
18,464
 
31,432