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Registration number: 11790976

Angwin Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Angwin Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Angwin Holdings Limited

Company Information

Directors

Mr A J Angwin

Mr B M Angwin

Registered office

15 Alverton Street
Penzance
Cornwall
TR18 2QP

Accountants

D.J. Reynolds & Co.
15 Alverton Street
Penzance
Cornwall
TR18 2QP

 

Angwin Holdings Limited

(Registration number: 11790976)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

1,105

17,700

Debtors

5

5,911

117

Cash at bank and in hand

 

37,560

31,889

 

44,576

49,706

Creditors: Amounts falling due within one year

6

(85,041)

(87,222)

Net liabilities

 

(40,465)

(37,516)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(40,565)

(37,616)

Shareholders' deficit

 

(40,465)

(37,516)

For the financial year ending 29 February 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 17 October 2024 and signed on its behalf by:
 

.........................................
Mr A J Angwin
Director

.........................................
Mr B M Angwin
Director

 

Angwin Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 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:
15 Alverton Street
Penzance
Cornwall
TR18 2QP

These financial statements were authorised for issue by the Board on 17 October 2024.

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

In the opinion of the Directors, the company can continue to operate on a going concern basis. This is due to the Directors agreeing not to call in their loans to the company for at least the next 12 months and continuing to provide working capital as required.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods 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.

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.

 

Angwin Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Stocks

Livestock is stated at 60% of the market value at the reporting date. Deadstock is stated at the lower of cost and net realisable value.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Stocks

2024
£

2023
£

Other inventories

1,105

17,700

5

Debtors

Current

2024
£

2023
£

Prepayments

3,417

-

Other debtors

2,494

117

 

5,911

117

 

Angwin Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

13,810

15,991

Accruals and deferred income

1,425

1,425

Other creditors

69,806

69,806

85,041

87,222

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Related party transactions

Transactions with directors

2024

At 1 March 2023
£

At 29 February 2024
£

Mr A J Angwin

Loan from director

34,905

34,905

     
   

Mr B M Angwin

Loan from director

34,901

34,901

     
   

 

2023

At 1 March 2022
£

Advances to director
£

Funds introduced by director
£

At 28 February 2023
£

Mr A J Angwin

Loan from director

17,071

(66)

17,900

34,905

         
       

Mr B M Angwin

Loan from director

17,000

-

17,901

34,901