(1) General Information
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The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is Sandown House, Sandbeck Way, Wetherby, LS22 7DN. |
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(2) Statement of compliance
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These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime. |
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(3) Significant Accounting Policies
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Basis of Preparation
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The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise. |
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Revenue recognition
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Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below. |
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Sale of goods
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Sales of goods are recognised when the company has delivered the goods to the customer, no other significant obligation remains unfulfilled that may affect the customer's acceptance of the products and risks and rewards of ownership have transferred to them. |
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Rendering of Services
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Revenue from provision of services rendered in the reporting period is recognised when the outcome of a transaction for the rendering of services can be estimated reliably in terms of revenue, costs and its stage of completion of the specific transaction at the end of the reporting period. The stage of completion is determined on the basis of the actual completion of a proportion of the total services to be rendered. When the outcome of a service contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable expenses recognised. |
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Taxation
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Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. |
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Current Tax
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The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. |
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(4) Employees
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During the year, the average number of employees including director was 1 (2022 : 2). |
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(5) Debtors
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Amounts falling due within one year
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| | | 2023 | | 2022 | | £ | | £ | | Trade debtors | 50,823 | | - | Other debtors | 2,543 | | 4,636 | Prepayments and accrued income | 1,237 | | - | | 54,603 | | 4,636 |
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(6) Creditors: Amounts falling due within one year
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| | | 2023 | | 2022 | | £ | | £ | | Trade creditors | 8,556 | | - | Bank loans and overdrafts | 13 | | - | | | | | Other taxes and social security | 6,831 | | - | Other creditors | 37,606 | | 4,199 | Accruals and deferred income | 1,300 | | 1,400 | | 54,306 | | 5,599 |
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(7) Share capital
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| Alloted,called up and fully paid: | 2023 | | 2022 | | £ | | £ | | 50 (2022 : 51) A Ordinary shares of £ 1 each | 50 | | 51 | 50 (2022 : 50) Ordinary shares of £ 1 each | 50 | | 50 | | 100 | | 101 | | A ordinary shares have full rights in the company with respect to voting and distributions and right to receive a dividend to be considered separately by the director of the company. Ordinary shares have full right regarding voting, payment of dividends and distributions. | | Retained earnings | | | 2023 | | | | £ | At 1 October 2022 | | | (1,064) | Profit of the year | | | 6,162 | Dividends paid | | | (4,900) | At 30 September 2023 | | | 198 | |
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(8) Related party transactions
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AWC Staff Services Limited is related party by the virtue of having same directors and shareholders. The balance outstanding owed to relating party was £ 36,526.00 as on 30/09/2023 (2022: £4,199).
AWC Property Services Ltd is related party by the virtue of having same directors and shareholders. The balance outstanding owed to relating party was £ 80.00 as on 30/09/2023 (2022: owed by AWC Property Services Ltd- £720). |
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(9) Directors advances, credit and guarantees
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Overdrawn
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At year end the director has overdrawn balance of £2,543, which will be repaid on 30/06/2024. The loan is unsecured, interest free and repayable on demand. | |
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