Silverfin false false 31/05/2024 01/06/2023 31/05/2024 J A Worman 27/05/2022 N A Worman 27/05/2022 22 March 2025 The principal activity of the company is to develop new residential properties and renovations. 14137822 2024-05-31 14137822 bus:Director1 2024-05-31 14137822 bus:Director2 2024-05-31 14137822 2023-05-31 14137822 core:CurrentFinancialInstruments 2024-05-31 14137822 core:CurrentFinancialInstruments 2023-05-31 14137822 core:Non-currentFinancialInstruments 2024-05-31 14137822 core:Non-currentFinancialInstruments 2023-05-31 14137822 core:ShareCapital 2024-05-31 14137822 core:ShareCapital 2023-05-31 14137822 core:RetainedEarningsAccumulatedLosses 2024-05-31 14137822 core:RetainedEarningsAccumulatedLosses 2023-05-31 14137822 core:Vehicles 2023-05-31 14137822 core:ComputerEquipment 2023-05-31 14137822 core:Vehicles 2024-05-31 14137822 core:ComputerEquipment 2024-05-31 14137822 core:ImmediateParent core:CurrentFinancialInstruments 2024-05-31 14137822 core:ImmediateParent core:CurrentFinancialInstruments 2023-05-31 14137822 core:CurrentFinancialInstruments 1 2024-05-31 14137822 core:CurrentFinancialInstruments 1 2023-05-31 14137822 2023-06-01 2024-05-31 14137822 bus:FilletedAccounts 2023-06-01 2024-05-31 14137822 bus:SmallEntities 2023-06-01 2024-05-31 14137822 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 14137822 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 14137822 bus:Director1 2023-06-01 2024-05-31 14137822 bus:Director2 2023-06-01 2024-05-31 14137822 core:Vehicles 2023-06-01 2024-05-31 14137822 core:ComputerEquipment 2023-06-01 2024-05-31 14137822 2022-05-27 2023-05-31 14137822 core:CurrentFinancialInstruments 2023-06-01 2024-05-31 14137822 core:Non-currentFinancialInstruments 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Company No: 14137822 (England and Wales)

AW DEVELOPMENTS ANGLIA LIMITED

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

AW DEVELOPMENTS ANGLIA LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

AW DEVELOPMENTS ANGLIA LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 May 2024
AW DEVELOPMENTS ANGLIA LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 May 2024
Note 31.05.2024 31.05.2023
£ £
Fixed assets
Tangible assets 3 15,268 20,357
15,268 20,357
Current assets
Stocks 4 87,206 0
Debtors 5 12,950 38,785
Cash at bank and in hand 6 49,450 43,022
149,606 81,807
Creditors: amounts falling due within one year 7 ( 147,350) ( 49,810)
Net current assets 2,256 31,997
Total assets less current liabilities 17,524 52,354
Creditors: amounts falling due after more than one year 8 ( 9,724) ( 15,509)
Net assets 7,800 36,845
Capital and reserves
Called-up share capital 50 50
Profit and loss account 7,750 36,795
Total shareholder's funds 7,800 36,845

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of AW Developments Anglia Limited (registered number: 14137822) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

J A Worman
Director

22 March 2025

AW DEVELOPMENTS ANGLIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
AW DEVELOPMENTS ANGLIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 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 period, unless otherwise stated.

General information and basis of accounting

AW Developments Anglia 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 C/O Larking Gowen 1st Floor Prospect House, Rouen Road, Norwich, NR1 1RE, 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 £.

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.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

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 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
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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

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 Income Statement 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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

Year ended
31.05.2024
Period from
27.05.2022 to
31.05.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Vehicles Computer equipment Total
£ £ £
Cost
At 01 June 2023 23,995 879 24,874
At 31 May 2024 23,995 879 24,874
Accumulated depreciation
At 01 June 2023 4,499 18 4,517
Charge for the financial year 4,874 215 5,089
At 31 May 2024 9,373 233 9,606
Net book value
At 31 May 2024 14,622 646 15,268
At 31 May 2023 19,496 861 20,357

4. Stocks

31.05.2024 31.05.2023
£ £
Work in progress 87,206 0

5. Debtors

31.05.2024 31.05.2023
£ £
Trade debtors 5,785 5,785
Accrued income 7,165 33,000
12,950 38,785

6. Cash and cash equivalents

31.05.2024 31.05.2023
£ £
Cash at bank and in hand 49,450 43,022

7. Creditors: amounts falling due within one year

31.05.2024 31.05.2023
£ £
Trade creditors 16,050 10,335
Amounts owed to Parent undertakings 86,106 100
Amounts owed to directors 0 1,815
Deferred tax liability 3,817 5,089
Taxation and social security 28,367 22,411
Obligations under finance leases and hire purchase contracts (secured) 5,786 5,786
Other creditors 7,224 4,274
147,350 49,810

The HP liability is secured against the assets which finance is due.

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

31.05.2024 31.05.2023
£ £
Obligations under finance leases and hire purchase contracts (secured) 9,724 15,509

The HP liability is secured against the assets which finance is due.