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Registered number: 09392934
Aswen Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Surya & Co
Certified Public Accountants
910 London Road
Thornton Heath
Surrey
CR7 7PE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09392934
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 107,404 126,357
107,404 126,357
CURRENT ASSETS
Stocks 5 10,000 1,150
Cash at bank and in hand 1,906 2,026
11,906 3,176
Creditors: Amounts Falling Due Within One Year 6 (74,433 ) (49,593 )
NET CURRENT ASSETS (LIABILITIES) (62,527 ) (46,417 )
TOTAL ASSETS LESS CURRENT LIABILITIES 44,877 79,940
Creditors: Amounts Falling Due After More Than One Year 7 (148,729 ) (158,336 )
NET LIABILITIES (103,852 ) (78,396 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (103,853 ) (78,397 )
SHAREHOLDERS' FUNDS (103,852) (78,396)
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Malathy Thayalaseelan
Director
19/10/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Aswen Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09392934 . The registered office is 28 Enderby Crescent, Gainsborough, DN21 1XQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15%
Fixtures & Fittings 15%
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 February 2023 51,374 168,791 220,165
As at 31 January 2024 51,374 168,791 220,165
Depreciation
As at 1 February 2023 22,476 71,332 93,808
Provided during the period 4,335 14,618 18,953
As at 31 January 2024 26,811 85,950 112,761
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 January 2024 24,563 82,841 107,404
As at 1 February 2023 28,898 97,459 126,357
5. Stocks
2024 2023
£ £
Finished goods 10,000 1,150
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1 -
Other creditors 74,432 49,372
Taxation and social security - 221
74,433 49,593
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 7,146
Other creditors 148,729 151,190
148,729 158,336
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4