A.W.Properties Limited 00629304 false 2023-04-06 2024-04-05 2024-04-05 The principal activity of the company is in the year under review was that of property and general investment. Digita Accounts Production Advanced 6.30.9574.0 true true 00629304 2023-04-06 2024-04-05 00629304 2024-04-05 00629304 bus:OrdinaryShareClass1 2024-04-05 00629304 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:CurrentFinancialInstruments 2024-04-05 00629304 core:CurrentFinancialInstruments 2024-04-05 00629304 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-05 00629304 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-05 00629304 bus:SmallEntities 2023-04-06 2024-04-05 00629304 bus:AuditExemptWithAccountantsReport 2023-04-06 2024-04-05 00629304 bus:FilletedAccounts 2023-04-06 2024-04-05 00629304 bus:SmallCompaniesRegimeForAccounts 2023-04-06 2024-04-05 00629304 bus:RegisteredOffice 2023-04-06 2024-04-05 00629304 bus:CompanySecretary1 2023-04-06 2024-04-05 00629304 bus:Director1 2023-04-06 2024-04-05 00629304 bus:Director2 2023-04-06 2024-04-05 00629304 bus:Director3 2023-04-06 2024-04-05 00629304 bus:Director4 2023-04-06 2024-04-05 00629304 bus:OrdinaryShareClass1 2023-04-06 2024-04-05 00629304 bus:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 00629304 core:ForeignTax 2023-04-06 2024-04-05 00629304 core:UKTax 2023-04-06 2024-04-05 00629304 countries:EnglandWales 2023-04-06 2024-04-05 00629304 2023-04-05 00629304 2022-04-06 2023-04-05 00629304 2023-04-05 00629304 bus:OrdinaryShareClass1 2023-04-05 00629304 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:CurrentFinancialInstruments 2023-04-05 00629304 core:CurrentFinancialInstruments 2023-04-05 00629304 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-05 00629304 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-05 00629304 core:ForeignTax 2022-04-06 2023-04-05 00629304 core:UKTax 2022-04-06 2023-04-05 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 00629304

A.W.Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 5 April 2024

 

A.W.Properties Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

A.W.Properties Limited

Company Information

Directors

Mr J M Banks

Dr M S Izen

Mr J L Banks

Mrs A H Banks


 

Company secretary

Mr J L Banks

Registered office

35 Orchard Drive
Chorleywood
Rickmansworth
WD3 5QN


 

Accountants

Sterlings Ltd
Chartered Accountants
Lawford House
Albert Place
London
N3 1QA

 

A.W.Properties Limited

(Registration number: 00629304)
Balance Sheet as at 5 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

5

3,621,114

3,621,114

Current assets

 

Debtors

6

1,564

4,819

Investments

7

953,825

893,804

Cash at bank and in hand

 

75,826

53,370

 

1,031,215

951,993

Creditors: Amounts falling due within one year

8

(95,237)

(78,301)

Net current assets

 

935,978

873,692

Total assets less current liabilities

 

4,557,092

4,494,806

Creditors: Amounts falling due after more than one year

8

(60,000)

(132,000)

Provisions for liabilities

(591,088)

(576,462)

Net assets

 

3,906,004

3,786,344

Capital and reserves

 

Called up share capital

9

600

600

Retained earnings

3,905,404

3,785,744

Shareholders' funds

 

3,906,004

3,786,344

For the financial year ending 5 April 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.

 

A.W.Properties Limited

(Registration number: 00629304)
Balance Sheet as at 5 April 2024

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 5 November 2024 and signed on its behalf by:
 

.........................................
Mrs A H Banks
Director

 

A.W.Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 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:
35 Orchard Drive
Chorleywood
Rickmansworth
WD3 5QN
England

These financial statements were authorised for issue by the Board on 5 November 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

The financial statements have been prepared on a going concern basis.

Revenue recognition

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

A.W.Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment properties

Investment properties are carried at fair value, derived from the current market prices for comparable properties. Changes in fair value are recognised in profit or loss.

Current asset investments

Current asset listed investments are reflected in the financial statements at the fair values. Any aggregate surplus or deficit arising from the changes in fair values is recognised in the profit and loss account.

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.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

A.W.Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 7).

4

Taxation

Tax charged/(credited) in the profit and loss account

2024
£

2023
£

Current taxation

UK corporation tax

29,313

22,049

Irrecoverable overseas tax

488

490

Total current income tax

29,801

22,539

Deferred taxation

Arising from origination and reversal of timing differences

14,626

125,173

Tax expense in the profit and loss account

44,427

147,712

5

Investment properties

2024
£

At 6 April 2023

3,621,114

At 5 April 2024

3,621,114

The directors consider that the fair value of the company's investment properties, at the balance sheet date, was not materially different to the above.

If the investment properties had not been stated at fair value, they would have been included at historical cost of £1,464,391 (2023 - £1,464,391).

 

 

A.W.Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

-

380

Prepayments and accrued income

1,564

1,333

Other debtors

-

3,106

 

1,564

4,819

7

Current asset investments

2024
£

2023
£

Listed investments

953,825

893,804

The listed investments are stated at fair value as required by FRS 102. The historical cost of the listed investments at the year end was £457,088 (2023 - £457,424).

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Rents received in advance

11,447

3,879

Taxation and social security

29,167

22,049

Accruals and deferred income

6,748

6,748

Other creditors

47,875

45,625

95,237

78,301

 

A.W.Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

Creditors: amounts falling due after more than one year

2024
£

2023
£

Other creditors

60,000

132,000

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £0.01 each

60,000

600

60,000

600

       

10

Related party transactions

In the year ended 5 April 2022, the company acquired a property from a trust, in respect of which some of the directors are beneficiaries. The property was acquired for £413,103, however at the balance sheet date the sum of £100,000 (2023 - £172,000) remained outstanding and is interest free.

£40,000 of the above outstanding amount of £100,000 is due within one year and is included in other creditors. The balance of £60,000 is due after more than one year.

11 Reserves

£2,062,372 of the reserves are not distributable as they arise out of unrealised gains from the revaluation of the investment properties and listed investments. The distributable reserves are £1,843,032.