REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 29 February 2024 |
for |
ADW Investments Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 29 February 2024 |
for |
ADW Investments Ltd |
ADW Investments Ltd (Registered number: 05191788) |
Contents of the Financial Statements |
for the Year Ended 29 February 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
ADW Investments Ltd |
Company Information |
for the Year Ended 29 February 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ADW Investments Ltd (Registered number: 05191788) |
Statement of Financial Position |
29 February 2024 |
29.2.24 | 28.2.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Revaluation reserve | 9 |
Other reserves | 9 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
ADW Investments Ltd (Registered number: 05191788) |
Statement of Financial Position - continued |
29 February 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
ADW Investments Ltd (Registered number: 05191788) |
Notes to the Financial Statements |
for the Year Ended 29 February 2024 |
1. | STATUTORY INFORMATION |
ADW Investments Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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 |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
ADW Investments Ltd (Registered number: 05191788) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 March 2023 |
Additions |
Revaluations |
At 29 February 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for year |
At 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
The company has registered legal charges on its freehold property at companies house in favour of Svenska Handelsbanken AB(pub).. |
Cost or valuation at 29 February 2024 is represented by: |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
Valuation in 2024 | 6,400,788 | - | - | - | 6,400,788 |
Cost | 20,099,212 | 35,095 | 4,791 | 148,123 | 20,287,221 |
26,500,000 | 35,095 | 4,791 | 148,123 | 26,688,009 |
If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
29.2.24 | 28.2.23 |
£ | £ |
Cost | 20,099,212 | 18,371,046 |
Freehold land and buildings were valued on an open market basis on 28 February 2024 by the Director . |
ADW Investments Ltd (Registered number: 05191788) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST OR VALUATION |
At 1 March 2023 |
and 29 February 2024 |
DEPRECIATION |
At 1 March 2023 |
and 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Trade debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Bank loans |
Hire purchase contracts |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
ADW Investments Ltd (Registered number: 05191788) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 29.2.24 | 28.2.23 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
9. | RESERVES |
Retained | Revaluation | Other |
earnings | reserve | reserves | Totals |
£ | £ | £ | £ |
At 1 March 2023 | 3,443,572 | 4,964,453 | 1,660,000 | 10,068,025 |
Profit for the year | 408,006 | - | - | 408,006 |
Freehold property | - | (163,862 | ) | - | (163,862 | ) |
Directors' loan | - | - | (130,000 | ) | (130,000 | ) |
At 29 February 2024 | 3,851,578 | 4,800,591 | 1,530,000 | 10,182,169 |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023: |
29.2.24 | 28.2.23 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Other reserves include an amount owing to the director of £1,530,000 by the company at the year end.. |
11. | ULTIMATE CONTROLLING PARTY |
At the year end, the company was a wholly owned subsidiary of ADW Holdings Ltd, a company registered in England and Wales. The whole group is deemed to be ultimately controlled by A D Wormald, director, by virtue of his majority shareholding in the ultimate parent company. |