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COMPANY REGISTRATION NUMBER: 08211927
R&AW Ltd
Filleted Unaudited Financial Statements
Year ended
30 September 2023
R&AW Ltd
Financial Statements
Year ended 30 September 2023
Contents
Page
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
R&AW Ltd
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of R&AW Ltd
Year ended 30 September 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of R&AW Ltd for the year ended 30 September 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.
PORTER GARLAND Chartered accountants
Communication House Victoria Avenue Camberley Surrey GU15 3HX
26 February 2024
R&AW Ltd
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
4
3,371
167
Current assets
Debtors
5
24,964
13,159
Cash at bank and in hand
137,430
180,436
---------
---------
162,394
193,595
Creditors: amounts falling due within one year
6
28,291
35,788
---------
---------
Net current assets
134,103
157,807
---------
---------
Total assets less current liabilities
137,474
157,974
---------
---------
Net assets
137,474
157,974
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
137,374
157,874
---------
---------
Shareholders funds
137,474
157,974
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
R&AW Ltd
Statement of Financial Position (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 26 February 2024 , and are signed on behalf of the board by:
Mr R S Ward
Director
Company registration number: 08211927
R&AW Ltd
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 238 Windmill Road, Ealing, W5 4DL.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in the profit and loss account. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the profit and loss account.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined under Section 1A of FRS 102.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered during the year, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
33% straight line
Equipment
-
50% straight line
Impairment of fixed assets
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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
4. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 October 2022
1,586
5,059
6,645
Additions
4,327
4,327
Disposals
( 2,482)
( 2,482)
-------
-------
-------
At 30 September 2023
1,586
6,904
8,490
-------
-------
-------
Depreciation
At 1 October 2022
1,586
4,892
6,478
Charge for the year
1,124
1,124
Disposals
( 2,483)
( 2,483)
-------
-------
-------
At 30 September 2023
1,586
3,533
5,119
-------
-------
-------
Carrying amount
At 30 September 2023
3,371
3,371
-------
-------
-------
At 30 September 2022
167
167
-------
-------
-------
5. Debtors
2023
2022
£
£
Trade debtors
21,606
12,759
Other debtors
3,358
400
--------
--------
24,964
13,159
--------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,704
4,057
Social security and other taxes
17,958
28,436
Other creditors
8,629
3,295
--------
--------
28,291
35,788
--------
--------
7. Directors' advances, credits and guarantees
The directors loan account is not disclosed as permitted under Section 1A of FRS 102.
8. Related party transactions
All material transactions the company has entered into have been concluded under normal market conditions.