IRIS Accounts Production v24.3.0.553 11201909 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh112019092023-03-31112019092024-03-31112019092023-04-012024-03-31112019092022-03-31112019092022-04-012023-03-31112019092023-03-3111201909ns15:EnglandWales2023-04-012024-03-3111201909ns14:PoundSterling2023-04-012024-03-3111201909ns10:Director12023-04-012024-03-3111201909ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3111201909ns10:SmallEntities2023-04-012024-03-3111201909ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3111201909ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3111201909ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3111201909ns10:FullAccounts2023-04-012024-03-3111201909ns10:Director22023-04-012024-03-3111201909ns10:Director32023-04-012024-03-3111201909ns10:Director42023-04-012024-03-3111201909ns10:RegisteredOffice2023-04-012024-03-3111201909ns5:CurrentFinancialInstruments2024-03-3111201909ns5:CurrentFinancialInstruments2023-03-3111201909ns5:Non-currentFinancialInstruments2024-03-3111201909ns5:Non-currentFinancialInstruments2023-03-3111201909ns5:ShareCapital2024-03-3111201909ns5:ShareCapital2023-03-3111201909ns5:SharePremium2024-03-3111201909ns5:SharePremium2023-03-3111201909ns5:RetainedEarningsAccumulatedLosses2024-03-3111201909ns5:RetainedEarningsAccumulatedLosses2023-03-3111201909ns5:PlantMachinery2023-04-012024-03-3111201909ns5:FurnitureFittings2023-04-012024-03-3111201909ns5:MotorVehicles2023-04-012024-03-3111201909ns5:PlantMachinery2023-03-3111201909ns5:FurnitureFittings2023-03-3111201909ns5:MotorVehicles2023-03-3111201909ns5:PlantMachinery2024-03-3111201909ns5:FurnitureFittings2024-03-3111201909ns5:MotorVehicles2024-03-3111201909ns5:PlantMachinery2023-03-3111201909ns5:FurnitureFittings2023-03-3111201909ns5:MotorVehicles2023-03-3111201909ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3111201909ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-31
REGISTERED NUMBER: 11201909 (England and Wales)










AWE ALUMINIUM LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






AWE ALUMINIUM LTD (REGISTERED NUMBER: 11201909)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

AWE ALUMINIUM LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs H K Evans
W Evans
A Williams
Mrs D Williams





REGISTERED OFFICE: 16D Prospect Park
Queensway
Fforestfach
Swansea
SA5 4ED





REGISTERED NUMBER: 11201909 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

AWE ALUMINIUM LTD (REGISTERED NUMBER: 11201909)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 244,691 207,010

CURRENT ASSETS
Stocks 236,470 256,470
Debtors 5 394,821 325,032
Cash at bank and in hand 489,796 404,274
1,121,087 985,776
CREDITORS
Amounts falling due within one year 6 400,802 363,689
NET CURRENT ASSETS 720,285 622,087
TOTAL ASSETS LESS CURRENT
LIABILITIES

964,976

829,097

CREDITORS
Amounts falling due after more than one
year

7

(108,024

)

(95,665

)

PROVISIONS FOR LIABILITIES (81,173 ) (65,664 )
NET ASSETS 775,779 667,768

CAPITAL AND RESERVES
Called up share capital 125 125
Share premium 49,875 49,875
Retained earnings 725,779 617,768
SHAREHOLDERS' FUNDS 775,779 667,768

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

AWE ALUMINIUM LTD (REGISTERED NUMBER: 11201909)

BALANCE SHEET - continued
31 MARCH 2024



The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by:





A Williams - Director


AWE ALUMINIUM LTD (REGISTERED NUMBER: 11201909)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Awe Aluminium Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and Machinery - 33% on cost, 25% on cost and 20% on cost
Fixtures and fittings - 25% on cost and 20% on cost
Motor vehicles - 25% on cost and 20% on cost

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments
Rent is paid under an operating lease and is charged to the profit or loss on a straight line basis over the term of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

AWE ALUMINIUM LTD (REGISTERED NUMBER: 11201909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other payables and bank loans that are classified as debt, are initially recognised transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and cash in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.




Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation (legal and constructive) resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

AWE ALUMINIUM LTD (REGISTERED NUMBER: 11201909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 27 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
Machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 181,249 39,079 147,017 367,345
Additions 25,928 353 178,470 204,751
Disposals - - (121,517 ) (121,517 )
At 31 March 2024 207,177 39,432 203,970 450,579
DEPRECIATION
At 1 April 2023 99,064 12,530 48,741 160,335
Charge for year 34,660 7,155 36,935 78,750
Eliminated on disposal - - (33,197 ) (33,197 )
At 31 March 2024 133,724 19,685 52,479 205,888
NET BOOK VALUE
At 31 March 2024 73,453 19,747 151,491 244,691
At 31 March 2023 82,185 26,549 98,276 207,010

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 376,683 313,242
Other debtors 18,138 11,790
394,821 325,032

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 22,137 30,524
Trade creditors 197,051 125,027
Taxation and social security 160,656 176,483
Other creditors 10,958 21,655
400,802 363,689

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 11,667 21,667
Hire purchase contracts 96,357 73,998
108,024 95,665

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
AWE ALUMINIUM LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Awe Aluminium Ltd for the year ended 31 March 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Awe Aluminium Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Awe Aluminium Ltd and state those matters that we have agreed to state to the Board of Directors of Awe Aluminium Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Awe Aluminium Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Awe Aluminium Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Awe Aluminium Ltd. You consider that Awe Aluminium Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Awe Aluminium Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA


Date: .............................................