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Company No: 05842323 (England and Wales)

A U P (SW) LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

A U P (SW) LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

A U P (SW) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
A U P (SW) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 43,240 57,653
43,240 57,653
Current assets
Stocks 4 973,469 973,469
Debtors 5 8,180 33,190
Cash at bank and in hand 29,045 136
1,010,694 1,006,795
Creditors: amounts falling due within one year 6 ( 466,261) ( 514,769)
Net current assets 544,433 492,026
Total assets less current liabilities 587,673 549,679
Creditors: amounts falling due after more than one year 7 ( 14,126) ( 16,955)
Provision for liabilities 8 ( 14,413) ( 14,413)
Net assets 559,134 518,311
Capital and reserves
Called-up share capital 9 2 2
Profit and loss account 559,132 518,309
Total shareholder's funds 559,134 518,311

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of A U P (SW) Limited (registered number: 05842323) were approved and authorised for issue by the Director on 12 December 2024. They were signed on its behalf by:

Stephen John Bryan
Director
A U P (SW) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
A U P (SW) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

A U P (SW) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Century House, Nicholson Road, Torquay, TQ2 7TD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Vehicles Total
£ £
Cost
At 01 July 2023 104,675 104,675
At 30 June 2024 104,675 104,675
Accumulated depreciation
At 01 July 2023 47,022 47,022
Charge for the financial year 14,413 14,413
At 30 June 2024 61,435 61,435
Net book value
At 30 June 2024 43,240 43,240
At 30 June 2023 57,653 57,653

4. Stocks

2024 2023
£ £
Work in progress 973,469 973,469

5. Debtors

2024 2023
£ £
Accrued income 8,180 0
Corporation tax 0 33,190
8,180 33,190

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 2,875 2,804
Amounts owed to director 100,856 127,574
Accruals 2,499 3,382
Taxation and social security 18,074 15,494
Obligations under finance leases and hire purchase contracts 0 16,513
Other creditors 341,957 349,002
466,261 514,769

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 14,126 16,955

There are no amounts included above in respect of which any security has been given by the small entity.

8. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 14,413) ( 19,218)
Credited to the Statement of Income and Retained Earnings 0 4,805
At the end of financial year ( 14,413) ( 14,413)

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Class A ordinary shares of £ 1.00 each 2 2

10. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Amounts owed to director 100,856 127,574

No interest is charged on the above balance and there are no fixed repayment terms.