REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
ARMSTRONG WORKS LIMITED |
REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
ARMSTRONG WORKS LIMITED |
ARMSTRONG WORKS LIMITED (REGISTERED NUMBER: 04812534) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
Page |
Statement of Financial Position | 1 |
Notes to the Financial Statements | 2 | to | 5 |
ARMSTRONG WORKS LIMITED (REGISTERED NUMBER: 04812534) |
STATEMENT OF FINANCIAL POSITION |
31 JULY 2024 |
31.7.24 | 31.7.23 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The financial statements were approved by the Board of Directors and authorised for issue on |
ARMSTRONG WORKS LIMITED (REGISTERED NUMBER: 04812534) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
1. | STATUTORY INFORMATION |
Armstrong Works Limited is a |
Registered number: |
Registered office: |
The company did not trade during the year. |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
The financial statements are prepared in sterling, which is the functional currency of the entity. |
SIGNIFICANT JUDGEMENTS AND ESTIMATES |
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. |
There are no judgements or estimates within these financial statements. |
GOING CONCERN |
The company ceased to trade on 31 July 2022. The company will be dissolved in the foreseeable future and so the financial statements have not been prepared on a going concern basis. All assets and liabilities are stated at their recoverable amount. |
ARMSTRONG WORKS LIMITED (REGISTERED NUMBER: 04812534) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
2. | ACCOUNTING POLICIES - continued |
FINANCIAL INSTRUMENTS |
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
Debt instruments are subsequently measured at amortised cost. |
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. |
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. |
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. |
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 entity after deducting all of its financial liabilities. |
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. |
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. |
TAXATION |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
ARMSTRONG WORKS LIMITED (REGISTERED NUMBER: 04812534) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
2. | ACCOUNTING POLICIES - continued |
DEFERRED TAX |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Amounts owed by group undertakings |
Amounts owed by group undertakings are unsecured, interest free and are repayable on demand. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Amounts owed to group undertakings |
VAT | - | 4,087 |
Amounts owed to group undertakings are unsecured, interest free and are repayable on demand. |
There is a charge in favour of Santander UK PLC as Security Trustee dated 11 June 2022 giving a fixed and floating charge over all the assets of the company. |
6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
Emphasis of matter |
We draw your attention to the notes of the financial statements which explains the directors' decision to cease trading and dissolve the company in the foreseeable future. Accordingly, the financial statements have not been prepared on the going concern basis. Our opinion is not modified in this respect. |
7. | RELATED PARTY DISCLOSURES |
Details of the transactions between fellow group companies have not been disclosed in line with paragraph 33.1A of FRS102. |
ARMSTRONG WORKS LIMITED (REGISTERED NUMBER: 04812534) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
8. | EVENTS AFTER THE END OF THE REPORTING PERIOD |
There were no material events up to the date of approval of the financial statements by the Board. |
9. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling entity of the company is Apiary Capital LLP, a limited liability partnership incorporated in England. |
10. | GOING CONCERN |
The company ceased to trade on 31 July 2022. The company will be dissolved in the foreseeable future and so the financial statements have not been prepared on a going concern basis. All assets and liabilities are stated at their recoverable amount. |