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Company Registration No. 10979196 (England and Wales)
Awen Collective Limited Unaudited accounts for the year ended 31 March 2024
Awen Collective Limited Unaudited accounts Contents
Page
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Awen Collective Limited Company Information for the year ended 31 March 2024
Directors
J Farrow-Lesnianski P Dennis R Van Der Meulen
Company Number
10979196 (England and Wales)
Registered Office
BRITANNIA HOUSE CAERPHILLY BUSINESS PARK VAN ROAD CAERPHILLY CF83 3GG WALES
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Awen Collective Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
8,460 
8,460 
Tangible assets
- 
11,613 
Investments
1,846 
1,846 
10,306 
21,919 
Current assets
Debtors
26,414 
96,232 
Cash at bank and in hand
793 
65,533 
27,207 
161,765 
Creditors: amounts falling due within one year
(3,621)
(25,142)
Net current assets
23,586 
136,623 
Total assets less current liabilities
33,892 
158,542 
Creditors: amounts falling due after more than one year
(23,897)
(7,506)
Net assets
9,995 
151,036 
Capital and reserves
Called up share capital
203 
203 
Share premium
1,259,281 
1,259,281 
Profit and loss account
(1,249,489)
(1,108,448)
Shareholders' funds
9,995 
151,036 
For the 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. 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 19 September 2024 and were signed on its behalf by
J Farrow-Lesnianski Director Company Registration No. 10979196
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Awen Collective Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Awen Collective Limited is a private company, limited by shares, registered in England and Wales, registration number 10979196. The registered office is BRITANNIA HOUSE CAERPHILLY BUSINESS PARK, VAN ROAD, CAERPHILLY, CF83 3GG, WALES.
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.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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:
Computer equipment
25% per annum reducing balance basis
Going concern
The accounts have been prepared on a going concern basis. The company incurred losses during the year which has resulted in negative reserves. However, the company sold its intellectual property during the period and entered into a revenue sharing agreement with the purchaser. This has significantly reduced the ongoing costs of the company. In addition, the shareholders and directors have provided and will continue to provide support in order to meet the comapny's liabilities. The directors are therefore of the opinion that they should continue to adopt the going concern basis of accounting in preparing the accounts
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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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Awen Collective Limited Notes to the Accounts for the year ended 31 March 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 April 2023
8,460 
At 31 March 2024
8,460 
Amortisation
At 1 April 2023
- 
At 31 March 2024
- 
Net book value
At 31 March 2024
8,460 
At 31 March 2023
8,460 
5
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 April 2023
22,139 
Disposals
(22,139)
At 31 March 2024
- 
Depreciation
At 1 April 2023
10,526 
On disposals
(10,526)
At 31 March 2024
- 
Net book value
At 31 March 2024
- 
At 31 March 2023
11,613 
6
Investments
Subsidiary undertakings 
£ 
Valuation at 1 April 2023
1,846 
Valuation at 31 March 2024
1,846 
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
224 
- 
Accrued income and prepayments
- 
1,720 
Other debtors
26,190 
94,512 
26,414 
96,232 
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Awen Collective Limited Notes to the Accounts for the year ended 31 March 2024
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
3,500 
3,500 
VAT
- 
932 
Trade creditors
121 
669 
Taxes and social security
- 
7,906 
Other creditors
- 
218 
Deferred income
- 
11,917 
3,621 
25,142 
9
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
23,897 
7,506 
10
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
112,500 Ordinary shares of £0.001 each
112.50 
112.50 
91,205 Ordinary A shares of £0.001 each
91.20 
91.20 
203.70 
203.70 
11
Average number of employees
During the year the average number of employees was 12 (2023: 12).
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