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Company Registration No. 02294428 (England and Wales)
ALLWORKS PROPERTIES LIMITED Unaudited accounts for the year ended 30 November 2023
ALLWORKS PROPERTIES LIMITED Unaudited accounts Contents
Page
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ALLWORKS PROPERTIES LIMITED Company Information for the year ended 30 November 2023
Directors
J RIvers J Rivers A Robbins M Parks C Rivers
Company Number
02294428 (England and Wales)
Accountants
Mosaic Accounting Limited 8 Millers Close Welford on Avon Stratford upon Avon Warwickshire CV37 8QG
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ALLWORKS PROPERTIES LIMITED Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
86,608 
122,759 
Investment property
10,138,181 
10,138,181 
10,224,789 
10,260,940 
Current assets
Debtors
137,327 
125,238 
Cash at bank and in hand
98,708 
434,187 
236,035 
559,425 
Creditors: amounts falling due within one year
(2,276,697)
(2,346,325)
Net current liabilities
(2,040,662)
(1,786,900)
Total assets less current liabilities
8,184,127 
8,474,040 
Creditors: amounts falling due after more than one year
(90,000)
(362,570)
Provisions for liabilities
Deferred tax
(606,876)
(606,876)
Net assets
7,487,251 
7,504,594 
Capital and reserves
Called up share capital
120 
120 
Revaluation reserve
4,798,965 
4,798,965 
Profit and loss account
2,688,166 
2,705,509 
Shareholders' funds
7,487,251 
7,504,594 
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2024 and were signed on its behalf by
J Rivers Director Company Registration No. 02294428
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ALLWORKS PROPERTIES LIMITED Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
ALLWORKS PROPERTIES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 02294428.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover represents rental income and services including the provision of accommodation , food and drink provided during the period excluding value added tax.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance
Motor vehicles
25% on reducing balance
Fixtures & fittings
10% straight line basis
Computer equipment
25% on reducing balance
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided for investment properties.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Presentation currency
The accounts are presented in £ sterling.
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ALLWORKS PROPERTIES LIMITED Notes to the Accounts for the year ended 30 November 2023
HIre purchase and leasing commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 December 2022
15,400 
65,806 
486,450 
567,656 
Additions
- 
16,845 
- 
16,845 
At 30 November 2023
15,400 
82,651 
486,450 
584,501 
Depreciation
At 1 December 2022
13,998 
59,804 
371,095 
444,897 
Charge for the year
351 
4,000 
48,645 
52,996 
At 30 November 2023
14,349 
63,804 
419,740 
497,893 
Net book value
At 30 November 2023
1,051 
18,847 
66,710 
86,608 
At 30 November 2022
1,402 
6,002 
115,355 
122,759 
5
Investment property
2023 
£ 
Fair value at 1 December 2022
10,138,181 
At 30 November 2023
10,138,181 
Investment Properties were revalued on 30th November 2002 by Independent Professional Valuers and at the 30th November 2019 by the company's Directors on a fair value basis.
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
114,676 
98,693 
Accrued income and prepayments
13,547 
26,545 
128,223 
125,238 
Amounts falling due after more than one year
Other debtors
9,104 
- 
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ALLWORKS PROPERTIES LIMITED Notes to the Accounts for the year ended 30 November 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
- 
78,711 
VAT
- 
95,553 
Trade creditors
134,602 
63,518 
Taxes and social security
50,960 
53,934 
Other creditors
1,264,704 
1,258,999 
Loans from directors
776,431 
619,637 
Accruals
50,000 
175,973 
2,276,697 
2,346,325 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
- 
272,570 
Other creditors
90,000 
90,000 
90,000 
362,570 
9
Contingent liabilities
A contingent liability exists in relation to certain land situated at the former railway goods yard off Station Road, Hatton, Warwickshire whereby the Company would be liable to 50% of the increase in the open market value of this land should a chargeable event occur.
10
Average number of employees
During the year the average number of employees was 34 (2022: 34).
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