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Registration number: 08943815

Architectural Wallsz (International) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Architectural Wallsz (International) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Architectural Wallsz (International) Limited

Company Information

Directors

Mr I K Strangward

Mrs A S Strangward

Registered office

Burcot Cottage
11 Greenhill
Burcot
Bromsgrove
Worcs
B60 1BJ

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Architectural Wallsz (International) Limited

(Registration number: 08943815)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

111,280

80,169

Current assets

 

Stocks

5

26,000

26,887

Debtors

6

1,096,952

841,421

Cash at bank and in hand

 

77,192

56,587

 

1,200,144

924,895

Creditors: Amounts falling due within one year

7

(837,958)

(518,426)

Net current assets

 

362,186

406,469

Total assets less current liabilities

 

473,466

486,638

Creditors: Amounts falling due after more than one year

7

(104,026)

(136,881)

Net assets

 

369,440

349,757

Capital and reserves

 

Called up share capital

100

100

Retained earnings

369,340

349,657

Shareholders' funds

 

369,440

349,757

For the financial year ending 31 March 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 July 2024 and signed on its behalf by:
 

.........................................
Mr I K Strangward
Director

   
     
 

Architectural Wallsz (International) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Burcot Cottage
11 Greenhill
Burcot
Bromsgrove
Worcs
B60 1BJ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Architectural Wallsz (International) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Architectural Wallsz (International) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2023 - 10).

 

Architectural Wallsz (International) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

94,142

21,995

116,137

Additions

5,906

64,695

70,601

At 31 March 2024

100,048

86,690

186,738

Depreciation

At 1 April 2023

30,469

5,499

35,968

Charge for the year

19,192

20,298

39,490

At 31 March 2024

49,661

25,797

75,458

Carrying amount

At 31 March 2024

50,387

60,893

111,280

At 31 March 2023

63,673

16,496

80,169

5

Stocks

2024
£

2023
£

Work in progress

26,000

26,887

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

992,426

702,046

Amounts owed by related parties

9

67,696

98,441

Prepayments

 

13,385

13,407

Other debtors

 

23,445

27,527

   

1,096,952

841,421

 

Architectural Wallsz (International) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

71,801

60,159

Trade creditors

 

260,649

213,009

Taxation and social security

 

93,270

35,691

Accruals and deferred income

 

108,277

2,723

Other creditors

 

303,961

206,844

 

837,958

518,426



Other creditors includes £216,924 (2023 : £183,045) which relates to amounts owing on invoice discounting, which is secured by the related sales ledger debts.

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

36,867

75,766

Hire purchase contracts

46,844

16,496

Other borrowings

20,315

44,619

104,026

136,881

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

8,598

4,399

Other borrowings

63,203

55,760

71,801

60,159

9

Related party transactions

During the year, the company was charged management fees by Rais Limited of £Nil 2023: £Nil), a company controlled by common directors and shareholders. At the year end, £67,696 (2023 : £61,519) was owed by Rais Limited.
During the year, the company was charged management fees by Awallsz Limited of £Nil (2023: £Nil), a company controlled by common directors and shareholders. At the year end, £Nil (2023:£36,922) was owed by Awallsz Limited.