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REGISTERED NUMBER: 10995160 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

AUBIN & WILLS LIMITED

AUBIN & WILLS LIMITED (REGISTERED NUMBER: 10995160)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AUBIN & WILLS LIMITED

COMPANY INFORMATION
for the year ended 31 January 2024







DIRECTORS: Mr P R M Williams
Mrs L J Williams
Mr B A Russell
Mr G N Roberts
Ms R Silvester





REGISTERED OFFICE: 1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB





REGISTERED NUMBER: 10995160 (England and Wales)





ACCOUNTANTS: LDP Luckmans
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB

AUBIN & WILLS LIMITED (REGISTERED NUMBER: 10995160)

BALANCE SHEET
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 31,743 32,891
Tangible assets 5 245,813 100,173
277,556 133,064

CURRENT ASSETS
Stocks 6 1,607,952 1,226,185
Debtors 7 269,468 150,306
Cash at bank and in hand 380,719 237,957
2,258,139 1,614,448
CREDITORS
Amounts falling due within one year 8 872,603 538,225
NET CURRENT ASSETS 1,385,536 1,076,223
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,663,092

1,209,287

CREDITORS
Amounts falling due after more than one
year

9

3,955,897

3,198,515
NET LIABILITIES (2,292,805 ) (1,989,228 )

CAPITAL AND RESERVES
Called up share capital 12 2 2
Retained earnings (2,292,807 ) (1,989,230 )
SHAREHOLDERS' FUNDS (2,292,805 ) (1,989,228 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

AUBIN & WILLS LIMITED (REGISTERED NUMBER: 10995160)

BALANCE SHEET - continued
31 January 2024


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.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by:





Mr B A Russell - Director


AUBIN & WILLS LIMITED (REGISTERED NUMBER: 10995160)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2024

1. STATUTORY INFORMATION

Aubin & Wills Limited 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.

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.

Going Concern
The financial statements have been prepared on the going concern basis as management are confident the company has sufficient financial resources to continue trading in the foreseeable future. The balance sheet reports a Net Current Assets position of £1.39m at the year end which shows the company can meet its short term liabilities. The company is supported by a long term loan debt and has access to additional loan funding should it be required. The business has grown significantly since its launch in 2021. Management are forecasting a profit in the financial year ended 31st January 2025 and a significant increase in profits from financial year 2026 onwards.

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 significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademarks are being amortised evenly over their estimated useful life of ten years.

Website is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold-Straight line over 5 years
Fixtures and fittings-Straight line over 3 to 5 years
Computer equipment-Straight line over 3 years

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


AUBIN & WILLS LIMITED (REGISTERED NUMBER: 10995160)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

2. ACCOUNTING POLICIES - continued
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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 16 ) .

AUBIN & WILLS LIMITED (REGISTERED NUMBER: 10995160)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

4. INTANGIBLE FIXED ASSETS
Trademarks Website Totals
£    £    £   
COST
At 1 February 2023 31,423 6,719 38,142
Additions 4,592 - 4,592
At 31 January 2024 36,015 6,719 42,734
AMORTISATION
At 1 February 2023 4,318 933 5,251
Amortisation for year 3,500 2,240 5,740
At 31 January 2024 7,818 3,173 10,991
NET BOOK VALUE
At 31 January 2024 28,197 3,546 31,743
At 31 January 2023 27,105 5,786 32,891

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 February 2023 13,985 124,406 7,205 145,596
Additions - 202,729 6,229 208,958
At 31 January 2024 13,985 327,135 13,434 354,554
DEPRECIATION
At 1 February 2023 4,739 37,307 3,377 45,423
Charge for year 2,797 56,953 3,568 63,318
At 31 January 2024 7,536 94,260 6,945 108,741
NET BOOK VALUE
At 31 January 2024 6,449 232,875 6,489 245,813
At 31 January 2023 9,246 87,099 3,828 100,173

6. STOCKS
2024 2023
£    £   
Finished goods 1,607,952 1,226,185

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 93,016 109,554
Other debtors 176,452 40,752
269,468 150,306

AUBIN & WILLS LIMITED (REGISTERED NUMBER: 10995160)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 657,656 421,999
Taxation and social security 117,823 71,315
Other creditors 97,124 44,911
872,603 538,225

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Amounts owed to group undertakings 2,220,117 1,969,927
Other creditors 1,735,780 1,228,588
3,955,897 3,198,515

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 143,602 50,000
Between one and five years 879,184 120,285
1,022,786 170,285

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 1,735,780 1,228,588

Other Loans are secured by way of a fixed and floating charge over all assets of the company.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 A Ordinary £1 1 1
1 B Ordinary £1 1 1
2 2