2022-07-012023-06-302023-06-30false09097984OLDWYNN 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OLDWYNN LIMITED

Registered Number
09097984
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

OLDWYNN LIMITED
Company Information
for the year from 1 July 2022 to 30 June 2023

Directors

WHITLOCK, Leah Naomi
WHITLOCK, Max Antony

Registered Address

Unit C Anchor House School Lane
Chandlers Ford
Eastleigh
SO53 4DY

Registered Number

09097984 (England and Wales)
OLDWYNN LIMITED
Balance Sheet as at
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets349,4067,822
49,4067,822
Current assets
Debtors303,386327,732
Cash at bank and on hand184,500330,368
487,886658,100
Creditors amounts falling due within one year6(35,479)(142,113)
Net current assets (liabilities)452,407515,987
Total assets less current liabilities501,813523,809
Net assets501,813523,809
Capital and reserves
Called up share capital11,000
Profit and loss account501,812522,809
Shareholders' funds501,813523,809
The financial statements were approved and authorised for issue by the Board of Directors on 15 February 2024, and are signed on its behalf by:
WHITLOCK, Max Antony
Director
Registered Company No. 09097984
OLDWYNN LIMITED
Notes to the Financial Statements
for the year ended 30 June 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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 rendering of services.
Revenue from sale of goods
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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-3
Vehicles20-
Office Equipment-3
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year30
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 July 2213,964
Additions57,008
At 30 June 2370,972
Depreciation and impairment
At 01 July 226,142
Charge for year15,424
At 30 June 2321,566
Net book value
At 30 June 2349,406
At 30 June 227,822
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables31,8803,080
Amounts owed by group undertakings520180
Amounts owed by associates and joint ventures / participating interests-3,847
Other debtors2,694-
Total35,0947,107
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.
5.Debtors: amounts due after one year

2023

2022

££
Other debtors268,292320,625
Total268,292320,625
Long 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.
6.Creditors: amounts due within one year

2023

2022

££
Amounts owed to related parties2,310-
Taxation and social security30,921139,905
Accrued liabilities and deferred income2,2482,208
Total35,479142,113
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.
7.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
WHITLOCK, Max Antony3,847220,891227,048(2,310)
3,847220,891227,048(2,310)