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COMPANY REGISTRATION NUMBER: 13190012
AW Covent Garden 1 Limited
Filleted Unaudited Financial Statements
29 February 2024
AW Covent Garden 1 Limited
Financial Statements
Year ended 29 February 2024
Contents
Page
Officers and professional advisers
1
Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
AW Covent Garden 1 Limited
Officers and Professional Advisers
The board of directors
S Lever
J Keisner
G S Feld-Davidovici
Registered office
727-729 High Road
London
N12 0BP
Accountants
Complete Accounting Solutions
Chartered Certified Accountants
727-729 High Road
London
N12 0BP
AW Covent Garden 1 Limited
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of AW Covent Garden 1 Limited
Year ended 29 February 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 29 February 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Complete Accounting Solutions Chartered Certified Accountants
727-729 High Road London N12 0BP
29 November 2024
AW Covent Garden 1 Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
278,636
139,144
Current assets
Debtors
6
229,368
3
Cash at bank and in hand
472,466
128,651
---------
---------
701,834
128,654
Creditors: amounts falling due within one year
7
1,016,266
268,605
------------
---------
Net current liabilities
314,432
139,951
---------
---------
Total assets less current liabilities
( 35,796)
( 807)
Creditors: amounts falling due after more than one year
8
225,000
---------
----
Net liabilities
( 260,796)
( 807)
---------
----
Capital and reserves
Called up share capital
3
3
Profit and loss account
( 260,799)
( 810)
---------
----
Shareholders deficit
( 260,796)
( 807)
---------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 29 February 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
AW Covent Garden 1 Limited
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 29 November 2024 , and are signed on behalf of the board by:
J Keisner
Director
Company registration number: 13190012
AW Covent Garden 1 Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 727-729 High Road, London, N12 0BP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis .
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short Leasehold Property - straight line over 8 years
Fixtures and fittings - straight line over 8 years
Going concern
In our opinion, on the basis of information and enquiries that are pertinent to the company's circumstances and which we believe to be adequate, it is appropriate to continue to treat the company as a going concern. In particular we believe that adequate cash resources will be available to cover the company's requirements for working capital for at least twelve months from the date of signing the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property
-
12% straight line
Fixtures and fittings
-
12% straight line
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: Nil).
5. Tangible assets
Short leasehold property
Fixtures and fittings
Total
£
£
£
Cost
At 1 March 2023
71,506
67,638
139,144
Additions
21,092
150,560
171,652
--------
---------
---------
At 29 February 2024
92,598
218,198
310,796
--------
---------
---------
Depreciation
At 1 March 2023
Charge for the year
8,334
23,826
32,160
--------
---------
---------
At 29 February 2024
8,334
23,826
32,160
--------
---------
---------
Carrying amount
At 29 February 2024
84,264
194,372
278,636
--------
---------
---------
At 28 February 2023
71,506
67,638
139,144
--------
---------
---------
6. Debtors
2024
2023
£
£
Trade debtors
133,068
Other debtors
96,300
3
---------
----
229,368
3
---------
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
592,992
Social security and other taxes
3,179
21,452
Other creditors
420,095
247,153
------------
---------
1,016,266
268,605
------------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
225,000
---------
----
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
694,416
Later than 1 year and not later than 5 years
578,680
------------
----
1,273,096
------------
----