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Registration number: 07305208

A4JWA Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

A4JWA Ltd

(Registration number: 07305208)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

7,498

9,372

Investment property

5

1,210,000

1,210,000

Other financial assets

6

77

81,037

 

1,217,575

1,300,409

Current assets

 

Debtors

7

2,353,490

1,802,191

Cash at bank and in hand

 

126,610

222,514

 

2,480,100

2,024,705

Creditors: Amounts falling due within one year

8

(306,437)

(230,868)

Net current assets

 

2,173,663

1,793,837

Total assets less current liabilities

 

3,391,238

3,094,246

Deferred tax liabilities

9

(67,000)

(67,469)

Net assets

 

3,324,238

3,026,777

Capital and reserves

 

Called up share capital

1

1

Revaluation reserve

238,367

238,367

Profit and loss account

3,085,870

2,788,409

Shareholders' funds

 

3,324,238

3,026,777

For the financial year ending 30 November 2023 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 25 November 2024 and signed on its behalf by:
 


Mr J W Allen
Director

 

A4JWA Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

 

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:
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

 

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Judgements and estimation uncertainty

No significant judgements have been made by management in preparing these financial statements.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Tax

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

The current corporation 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.

Deferred corporation tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

A4JWA Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Tangible fixed assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location and condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. 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 debtors.

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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

A4JWA Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

4

Tangible fixed assets

Fixtures and fittings
£

Cost or valuation

At 1 December 2022 and 30 November 2023

42,334

Depreciation

At 1 December 2022

32,962

Charge for the period

1,874

At 30 November 2023

34,836

Carrying amount

At 30 November 2023

7,498

At 30 November 2022

9,372

 

A4JWA Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

 

5

Investment properties

£

At 1 December 2022 and 30 November 2023

1,210,000

The directors believe this to be the current market value of the investment properties.

 

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Non-current financial assets

Cost or valuation

At 1 December 2022

81,037

Additions

280

Disposals

(81,240)

At 30 November 2023

77

Impairment

Carrying amount

At 30 November 2023

77

At 30 November 2022

81,037

 

7

Debtors

Note

2023
 £

2022
 £

Amounts owed by related parties

10

-

168,613

Other debtors

 

2,346,752

1,633,578

Prepayments

 

6,738

-

   

2,353,490

1,802,191

 

8

Creditors

Note

2023
 £

2022
 £

Due within one year

 

Loans and borrowings

10

185,968

-

Trade creditors

 

8,699

-

Other creditors

 

310

310

Accrued expenses

 

8,863

4,715

Corporation tax liability

102,597

225,843

 

306,437

230,868

 

9

Deferred tax

Deferred tax assets and liabilities

 

A4JWA Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

2023

Liability
£

Accelerated tax depreciation

23,944

Property revaluation

43,056

67,000

2022

Liability
£

Accelerated tax depreciation

24,413

Property revaluation

43,056

67,469

 

10

Related party transactions

Summary of transactions with directors and other related parties

At 30 November 2023, the company was owed £130,000 (2022: £130,000) from Wallinn Oü (Estonia). The company is controlled by the director J W Allen. No interest was charged on the loan and it is repayable on demand.

At 30 November 2023, the company was owed £2,044,750 (2022: £488,036) from Neptun Oü (Estonia). The director J W Allen has a 90% shareholding in Neptun Oü. No interest was charged on the loan and it is repayable on demand.

Transactions with directors
At 30 November 2023, the company owed the directors J W Allen and Mrs D M Allen £185,968 (2022: £168,613 owed to the company) in the form of a director's loan account. No interest is charged on the loan and it is repayable on demand.