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Registration number: 08187741

Awen Consultants Limited

Annual Report and

Unaudited Financial Statements


for the Year Ended 31 July 2023

 

Awen Consultants Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Awen Consultants Limited

Company Information

Directors

Mrs V J Williams

Dr M A Williams

Registered office


209 Russell Court
Woburn Place
London
WC1H 0ND
 

Bankers

HSBC Bank
156-157 Tottenham Court Road
London
W1T 7AY
 

Accountants

WJ James & Co
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

Awen Consultants Limited

(Registration number: 08187741)

Balance Sheet
as at 31 July 2023

Note

2023
£

2022
£

Fixed Assets

 

Tangible Assets

4

481

1,454

Current assets

 

Debtors

5

20,243

1,646

Cash at bank and in hand

 

2,371

19,986

 

22,614

21,632

Creditors: Amounts falling due within one year

6

(34,008)

(25,182)

Net current liabilities

 

(11,394)

(3,550)

Total assets less current liabilities

 

(10,913)

(2,096)

Creditors: Amounts falling due after more than one year

6

(17,542)

(19,867)

Provisions for liabilities

(91)

(276)

Net liabilities

 

(28,546)

(22,239)

Capital and Reserves

 

Called up share capital

2

2

Profit and loss account

(28,548)

(22,241)

Total equity

 

(28,546)

(22,239)

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

The profit and loss account and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Awen Consultants Limited

(Registration number: 08187741)

Balance Sheet
as at 31 July 2023

Approved and authorised by the Board on 18 January 2024 and signed on its behalf by:
 

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

Mrs V J Williams

Director

 

Awen Consultants Limited

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

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:
209 Russell Court
Woburn Place
London
WC1H 0ND

These financial statements were authorised for issue by the Board on 18 January 2024.

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.

Going concern

The accounts have been prepared on the going concern basis on the principal that the directors will continue to offer their financial support.

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

The company has received financial support by way of grants from the government during the current coronavirus pandemic. These have been accounted for on the performance basis, recognising the grants when they are received. However, the grant payments received under the Job Retention Scheme have been recognised by reference to the period to which the underlying furloughed staff costs relate.

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.

 

Awen Consultants Limited

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

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.

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

Fixtures and fittings

25% straight line

Computer equipment

33.3% straight line

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.

 

Awen Consultants Limited

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

Borrowings

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.

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 directors) during the year, was 2 (2022 - 2).

 

Awen Consultants Limited

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

4

Tangible Assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 August 2022

175

6,300

6,475

At 31 July 2023

175

6,300

6,475

Depreciation

At 1 August 2022

174

4,847

5,021

Charge for the year

-

973

973

At 31 July 2023

174

5,820

5,994

Carrying amount

At 31 July 2023

1

480

481

At 31 July 2022

1

1,453

1,454

5

Debtors

2023
£

2022
£

Trade Debtors

20,243

1,646

20,243

1,646

 

Awen Consultants Limited

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

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade Creditors

-

19

Taxation and social security

3,318

4,050

Accruals and deferred income

1,668

1,600

Other creditors

29,022

19,513

34,008

25,182

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

17,542

19,867

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

17,542

19,867