Registered number
07532072
AW Property International Limited
Filleted Accounts
31 March 2024
AW Property International Limited
Registered number: 07532072
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 80,906 47,158
Current assets
Debtors 4 62,194 51,037
Cash at bank and in hand 19,692 21,872
81,886 72,909
Creditors: amounts falling due within one year 5 (37,378) (21,085)
Net current assets 44,508 51,824
Total assets less current liabilities 125,414 98,982
Creditors: amounts falling due after more than one year 6 (36,049) -
Net assets 89,365 98,982
Capital and reserves
Called up share capital 1 1
Profit and loss account 89,364 98,981
Shareholder's funds 89,365 98,982
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N Bains
Director
Approved by the board on 22 January 2025
AW Property International Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Motor vehicles 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 3
3 Tangible fixed assets
Land and buildings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 20,450 36,122 22,793 79,365
Additions - - 125,171 125,171
Disposals - - (79,140) (79,140)
At 31 March 2024 20,450 36,122 68,824 125,396
Depreciation
At 1 April 2023 - 16,838 15,369 32,207
Charge for the year - 3,856 11,257 15,113
On disposals - - (2,830) (2,830)
At 31 March 2024 - 20,694 23,796 44,490
Net book value
At 31 March 2024 20,450 15,428 45,028 80,906
At 31 March 2023 20,450 19,284 7,424 47,158
4 Debtors 2024 2023
£ £
Trade debtors 8,077 9,447
Amounts owed by group undertakings and undertakings in which the company has a participating interest 42,900 36,180
Other debtors 11,217 5,410
62,194 51,037
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 3,282 -
Trade creditors 1,179 -
Taxation and social security costs 5,783 6,117
Other creditors 27,134 14,968
37,378 21,085
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 36,049 -
7 Controlling party
The company is controlled by I Am Residential Ltd, who as a company owns 100% of the issued share capital.
8 Other information
AW Property International Limited is a private company limited by shares and incorporated in England. Its registered office is:
215 Valley Road
Nottingham
NG5 3BG
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