Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-3082022-07-01falseNo description of principal activity9truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07663274 2022-07-01 2023-06-30 07663274 2021-07-01 2022-06-30 07663274 2023-06-30 07663274 2022-06-30 07663274 c:Director2 2022-07-01 2023-06-30 07663274 d:MotorVehicles 2022-07-01 2023-06-30 07663274 d:MotorVehicles 2023-06-30 07663274 d:MotorVehicles 2022-06-30 07663274 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 07663274 d:OfficeEquipment 2022-07-01 2023-06-30 07663274 d:OfficeEquipment 2023-06-30 07663274 d:OfficeEquipment 2022-06-30 07663274 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 07663274 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 07663274 d:CurrentFinancialInstruments 2023-06-30 07663274 d:CurrentFinancialInstruments 2022-06-30 07663274 d:Non-currentFinancialInstruments 2023-06-30 07663274 d:Non-currentFinancialInstruments 2022-06-30 07663274 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 07663274 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 07663274 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 07663274 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 07663274 d:ShareCapital 2023-06-30 07663274 d:ShareCapital 2022-06-30 07663274 d:RetainedEarningsAccumulatedLosses 2023-06-30 07663274 d:RetainedEarningsAccumulatedLosses 2022-06-30 07663274 c:OrdinaryShareClass1 2022-07-01 2023-06-30 07663274 c:OrdinaryShareClass1 2023-06-30 07663274 c:OrdinaryShareClass1 2022-06-30 07663274 c:OrdinaryShareClass2 2022-07-01 2023-06-30 07663274 c:OrdinaryShareClass2 2023-06-30 07663274 c:OrdinaryShareClass2 2022-06-30 07663274 c:FRS102 2022-07-01 2023-06-30 07663274 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 07663274 c:FullAccounts 2022-07-01 2023-06-30 07663274 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 iso4217:GBP xbrli:shares xbrli:pure
Company registration number: 07663274







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2023


IWL CONTRACTORS LIMITED






































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IWL CONTRACTORS LIMITED
REGISTERED NUMBER:07663274



STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
57,353
28,624

  
57,353
28,624

Current assets
  

Stocks
  
11,300
11,300

Debtors: amounts falling due within one year
 5 
201,765
239,547

Cash at bank and in hand
 6 
64,587
19,789

  
277,652
270,636

Creditors: amounts falling due within one year
 7 
(191,871)
(193,218)

Net current assets
  
 
 
85,781
 
 
77,418

Total assets less current liabilities
  
143,134
106,042

Creditors: amounts falling due after more than one year
 8 
(10,619)
(4,802)

Provisions for liabilities
  

Deferred tax
  
(9,487)
-

  
 
 
(9,487)
 
 
-

Net assets
  
123,028
101,240


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
122,928
101,140

  
123,028
101,240


Page 1

 


IWL CONTRACTORS LIMITED
REGISTERED NUMBER:07663274


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




___________________________
Ian Little
Director

Date: 7 February 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


IWL CONTRACTORS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

IWL Contractors 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.
The presentation currency of the financial statements is the Pound Sterling (£).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 


IWL CONTRACTORS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
Office equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4

 


IWL CONTRACTORS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.8

Financial instruments

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2022 - 8).


4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 July 2022
66,509
4,500
71,009


Additions
50,480
-
50,480


Disposals
(8,390)
-
(8,390)



At 30 June 2023

108,599
4,500
113,099



Depreciation


At 1 July 2022
37,885
4,500
42,385


Charge for the year on owned assets
19,374
-
19,374


Disposals
(6,013)
-
(6,013)



At 30 June 2023

51,246
4,500
55,746



Net book value



At 30 June 2023
57,353
-
57,353



At 30 June 2022
28,624
-
28,624


5.


Debtors

2023
2022
£
£


Trade debtors
185,038
218,154

Other debtors
16,727
21,393

201,765
239,547


Page 5

 


IWL CONTRACTORS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
64,587
19,789

Less: bank overdrafts
-
(15)

64,587
19,774



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
-
15

Trade creditors
73,623
79,608

Corporation tax
21,883
20,308

Other taxation and social security
76,512
70,181

Obligations under finance lease and hire purchase contracts
10,576
7,293

Other creditors
7,069
13,605

Accruals and deferred income
2,208
2,208

191,871
193,218



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
10,619
4,802

10,619
4,802



9.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



10 (2022 - 10) Ordinary A shares of £1.00 each
10
10
90 (2022 - 90) Ordinary B shares of £1.00 each
90
90

100

100


 
Page 6