Registered number
11691407
AW Motorworks Limited
Filleted Accounts
31 March 2023
AW Motorworks Limited
Registered number: 11691407
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 29,530 23,390
Current assets
Stocks 37,000 27,000
Debtors 4 1,000 (1,718)
Cash at bank and in hand 12,299 3,403
50,299 28,685
Creditors: amounts falling due within one year 5 (62,368) (30,122)
Net current liabilities (12,069) (1,437)
Total assets less current liabilities 17,461 21,953
Creditors: amounts falling due after more than one year 6 (11,700) (17,100)
Net assets 5,761 4,853
Capital and reserves
Called up share capital 100 100
Profit and loss account 5,661 4,753
Shareholder's funds 5,761 4,853
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A White
Director
Approved by the board on 3 July 2023
AW Motorworks Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 30,122 7,400 37,522
Additions 13,779 - 13,779
At 31 March 2023 43,901 7,400 51,301
Depreciation
At 1 April 2022 10,835 3,297 14,132
Charge for the year 6,613 1,026 7,639
At 31 March 2023 17,448 4,323 21,771
Net book value
At 31 March 2023 26,453 3,077 29,530
At 31 March 2022 19,287 4,103 23,390
4 Debtors 2023 2022
£ £
Trade debtors - (2,718)
Other debtors 1,000 1,000
1,000 (1,718)
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,400 11,338
Trade creditors 26,808 1,069
Taxation and social security costs 6,982 4,636
Other creditors 23,178 13,079
62,368 30,122
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 11,700 17,100
7 Other information
AW Motorworks Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 15
Bluegate Hall Farm
Braintree Road
Essex
CM7 4PZ
AW Motorworks Limited 11691407 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts April 2022 A White No description of principal activity 11691407 2021-04-01 2022-03-31 11691407 core:WithinOneYear 2022-03-31 11691407 core:AfterOneYear 2022-03-31 11691407 core:ShareCapital 2022-03-31 11691407 core:RetainedEarningsAccumulatedLosses 2022-03-31 11691407 2022-04-01 2023-03-31 11691407 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11691407 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 11691407 bus:Director40 2022-04-01 2023-03-31 11691407 1 2022-04-01 2023-03-31 11691407 2 2022-04-01 2023-03-31 11691407 core:PlantMachinery 2022-04-01 2023-03-31 11691407 core:Vehicles 2022-04-01 2023-03-31 11691407 countries:England 2022-04-01 2023-03-31 11691407 bus:FRS102 2022-04-01 2023-03-31 11691407 bus:FullAccounts 2022-04-01 2023-03-31 11691407 2023-03-31 11691407 core:WithinOneYear 2023-03-31 11691407 core:AfterOneYear 2023-03-31 11691407 core:ShareCapital 2023-03-31 11691407 core:RetainedEarningsAccumulatedLosses 2023-03-31 11691407 core:PlantMachinery 2023-03-31 11691407 core:Vehicles 2023-03-31 11691407 2022-03-31 11691407 core:PlantMachinery 2022-03-31 11691407 core:Vehicles 2022-03-31 iso4217:GBP xbrli:pure