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Company No: 10029387 (England and Wales)

PWAW INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

PWAW INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

PWAW INVESTMENTS LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
PWAW INVESTMENTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTOR Mr. P. Williams
SECRETARY Mrs. A Williams
REGISTERED OFFICE Century House
Wargrave Road
Henley on Thames
RG9 2LT
United Kingdom
COMPANY NUMBER 10029387 (England and Wales)
ACCOUNTANT Verallo
Century House
Wargrave Road
Henley-on-Thames
Oxfordshire
United Kingdom
RG9 2LT
PWAW INVESTMENTS LIMITED

BALANCE SHEET

As at 31 March 2024
PWAW INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 92,383 113,472
Investment property 4 1,475,210 1,475,210
Investments 5 1,939,094 957,171
3,506,687 2,545,853
Current assets
Debtors 6 183,421 107,374
Cash at bank and in hand 3,155,812 3,975,681
3,339,233 4,083,055
Creditors: amounts falling due within one year 7 ( 46,732) ( 26,230)
Net current assets 3,292,501 4,056,825
Total assets less current liabilities 6,799,188 6,602,678
Provision for liabilities 0 ( 3,025)
Net assets 6,799,188 6,599,653
Capital and reserves
Called-up share capital 8 33 33
Fair value reserve ( 28,831 ) ( 22,768 )
Profit and loss account 6,827,986 6,622,388
Total shareholders' funds 6,799,188 6,599,653

For the financial year ending 31 March 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 PWAW Investments Limited (registered number: 10029387) were approved and authorised for issue by the Director on 28 March 2025. They were signed on its behalf by:

Mr. P. Williams
Director
PWAW INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
PWAW INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 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

PWAW Investments 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, Wargrave Road, Henley on Thames, RG9 2LT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 Balance Sheet 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.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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 Balance Sheet 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 valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Computer equipment 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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

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 the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 2

3. Tangible assets

Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 April 2023 168,495 56,233 0 224,728
Additions 0 5,645 2,613 8,258
At 31 March 2024 168,495 61,878 2,613 232,986
Accumulated depreciation
At 01 April 2023 97,412 13,844 0 111,256
Charge for the financial year 17,770 11,360 217 29,347
At 31 March 2024 115,182 25,204 217 140,603
Net book value
At 31 March 2024 53,313 36,674 2,396 92,383
At 31 March 2023 71,083 42,389 0 113,472

4. Investment property

Investment property
£
Valuation
As at 01 April 2023 1,475,210
As at 31 March 2024 1,475,210

The valuation of the investment properties were made as at 31 March 2024 by the director of PWAW Investments Limited on a fair value basis. No depreciation is provided in respect of these properties.

On a historic cost basis, these would have been included at an original cost of £1,475,210.

5. Fixed asset investments

2024 2023
£ £
Other investments and loans 1,939,094 957,171

Listed investments Loans Other investments Total
£ £ £ £
Cost or valuation before impairment
At 01 April 2023 4,770 600,000 352,401 957,171
Additions 597,986 250,000 540,000 1,387,986
Disposals 0 ( 400,000) 0 ( 400,000)
Movement in fair value ( 6,063) 0 0 ( 6,063)
At 31 March 2024 596,693 450,000 892,401 1,939,094
Carrying value at 31 March 2024 596,693 450,000 892,401 1,939,094
Carrying value at 31 March 2023 4,770 600,000 352,401 957,171

6. Debtors

2024 2023
£ £
Amounts owed by director 162,040 89,181
Prepayments 504 1,157
Other debtors 20,877 17,036
183,421 107,374

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 948 1,422
Accruals 5,694 4,000
Corporation tax 35,256 16,666
Other taxation and social security 3,934 4,142
Other creditors 900 0
46,732 26,230

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary A share of £ 1.00 1 1
1 Ordinary B share of £ 1.00 1 1
16 Ordinary C shares of £ 1.00 each 16 16
15 Ordinary D shares of £ 1.00 each 15 15
33 33

9. Related party transactions

Transactions with the entity's director

The director maintained a loan account with the company. At the start of the year the director owed the company £89,181. During the year £452,783 was advanced and repayments were received totalling £387,661. Beneficial loan interest was charged on the balance at 2.25% totalling £7,737. At the year end the director owed £162,040 to the company.