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REGISTERED NUMBER: 04832940 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

AWC WEALTH MANAGEMENT LIMITED

AWC WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 04832940)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AWC WEALTH MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Mr A W Carley
Mrs A Carley





SECRETARY: Mrs A Carley





REGISTERED OFFICE: 1 Kilwardby Mews
Kilwardby Street
Ashby de la Zouch
Leicestershire
LE65 2FR





REGISTERED NUMBER: 04832940 (England and Wales)





ACCOUNTANT: Wynniatt-Husey Ltd
Chartered Accountants
The Old Coach House
Horsefair
Rugeley
Staffordshire
WS15 2EL

AWC WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 04832940)

BALANCE SHEET
31 JULY 2023

31.7.22 31.7.23
£    £    Notes £    £   
FIXED ASSETS
699,682 Intangible assets 4 407,816
4,349 Tangible assets 5 47,866
329,456 Investment property 6 580,158
1,033,487 1,035,840

CURRENT ASSETS
268 Debtors 7 536
193,104 Cash at bank 490,834
193,372 491,370
CREDITORS
79,703 Amounts falling due within one year 8 297,427
113,669 NET CURRENT ASSETS 193,943
1,147,156 TOTAL ASSETS LESS CURRENT
LIABILITIES

1,229,783

CREDITORS
367,376 Amounts falling due after more than one
year

9

300,135
779,780 NET ASSETS 929,648

CAPITAL AND RESERVES
4 Called up share capital 10 4
779,776 Retained earnings 929,644
779,780 SHAREHOLDERS' FUNDS 929,648

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

AWC WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 04832940)

BALANCE SHEET - continued
31 JULY 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 6 November 2023 and were signed on its behalf by:





Mr A W Carley - Director


AWC WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 04832940)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Awc Wealth Management Limited 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.

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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

AWC WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 04832940)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Goodwill
Amortisation has not been charged as the ready market value exceeds current book value, therefore amortising would distort the true reflection of the company's profitability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022 879,589
Disposals (293,196 )
At 31 July 2023 586,393
AMORTISATION
At 1 August 2022 179,907
Charge for year 58,639
Eliminated on disposal (59,969 )
At 31 July 2023 178,577
NET BOOK VALUE
At 31 July 2023 407,816
At 31 July 2022 699,682

AWC WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 04832940)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
Totals fittings vehicles equipment
£    £    £    £   
COST
At 1 August 2022 78,339 34,196 - 44,143
Additions 45,598 1,739 42,989 870
At 31 July 2023 123,937 35,935 42,989 45,013
DEPRECIATION
At 1 August 2022 73,990 33,742 - 40,248
Charge for year 2,081 151 - 1,930
At 31 July 2023 76,071 33,893 - 42,178
NET BOOK VALUE
At 31 July 2023 47,866 2,042 42,989 2,835
At 31 July 2022 4,349 454 - 3,895

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 42,989
At 31 July 2023 42,989
NET BOOK VALUE
At 31 July 2023 42,989

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022 329,456
Additions 250,702
At 31 July 2023 580,158
NET BOOK VALUE
At 31 July 2023 580,158
At 31 July 2022 329,456

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Prepayments 536 268

AWC WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 04832940)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Hire purchase contracts 2,543 -
Trade creditors 847 2,103
Tax 125,482 63,876
Social security and other taxes 2,811 6,063
Pension control 993 877
Provision for clawback - 2,793
Directors' current accounts 161,120 493
Accrued expenses 3,631 3,498
297,427 79,703

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans - 2-5 years 273,998 367,376
Hire purchase contracts 26,137 -
300,135 367,376

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
4 Ordinary £1 4 4