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COMPANY REGISTRATION NUMBER: 11111835
OWD Holdings Limited
Filleted Unaudited Financial Statements
31 December 2023
OWD Holdings Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
OWD Holdings Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Investments
5
25,000
125
Current assets
Debtors
6
103,147
129,397
Cash at bank and in hand
105,953
107,410
---------
---------
209,100
236,807
Creditors: amounts falling due within one year
7
1,200
3,895
---------
---------
Net current assets
207,900
232,912
---------
---------
Total assets less current liabilities
232,900
233,037
---------
---------
Net assets
232,900
233,037
---------
---------
Capital and reserves
Called up share capital
100
100
Share premium account
149,902
149,902
Profit and loss account
82,898
83,035
---------
---------
Shareholders funds
232,900
233,037
---------
---------
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 income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
OWD Holdings Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 25 January 2025 , and are signed on behalf of the board by:
Mr A J Coates
Director
Company registration number: 11111835
OWD Holdings Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 2).
5. Investments
Shares in participating interests
£
Cost
At 1 January 2023
160,125
Additions
25,000
Disposals
( 160,125)
---------
At 31 December 2023
25,000
---------
Impairment
At 1 January 2023
160,000
Disposals
( 160,000)
---------
At 31 December 2023
---------
Carrying amount
At 31 December 2023
25,000
---------
At 31 December 2022
125
---------
6. Debtors
2023
2022
£
£
Other debtors
103,147
129,397
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,695
Other creditors
1,200
1,200
-------
-------
1,200
3,895
-------
-------
8. Director's advances, credits and guarantees
At the year end the company was owed £78,364 (2022: £76,453) by directors. During the year directors were advanced £nil (2022: £88,000) with repayments being made of £nil (2022: £nil). Interest was charged on the loans of £1,911 (2022: £1,865).