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Registration number: 04334491

AWA Developments Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

AWA Developments Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

AWA Developments Ltd

Company Information

Chairman

Mr G Presswell

Directors

Mr C Benham

Mr Adrian Whittle

Registered office

14 Wansbeck Road
Leasingham
Sleaford
Lincolnshire
NG34 8LP

Accountants

AIMS Accountants Fernwood Business Centre
Newark
Notts
NG24 3JP

 

AWA Developments Ltd

(Registration number: 04334491)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

fixed assets

 

tangible assets

4

110,000

110,000

Current assets

 

Debtors

5

19,974

21,659

Cash at bank and in hand

 

958

837

 

20,932

22,496

Creditors: Amounts falling due within one year

6

(162,235)

(163,125)

Net current liabilities

 

(141,303)

(140,629)

Net liabilities

 

(31,303)

(30,629)

capital and reserves

 

Ordinary share capital b/fwd

1

1,420,916

1,420,916

Share premium reserve

46,201

46,201

Undistributable Fair Value Reserve

63,980

63,980

Profit and loss account

(1,562,400)

(1,561,726)

Total equity

 

(31,303)

(30,629)

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 May 2025 and signed on its behalf by:
 

 

AWA Developments Ltd

(Registration number: 04334491)
Balance Sheet as at 30 September 2024

.........................................
Mr G Presswell
Chairman

.........................................
Mr Adrian Whittle
Director

 

AWA Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The address of its registered office is:
14 Wansbeck Road
Leasingham
Sleaford
Lincolnshire
NG34 8LP

These financial statements were authorised for issue by the Board on 16 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

 

AWA Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

20% Straight Line

Motor Vehicles

15% Straight Line

Fixtures & Fittings

10% Straight Line

Investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through profit and loss. No depreciation is provided in respect of investment properties.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

AWA Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Tax Losses
The company had total tax losses of £1,634,748 to carry forward at 30th September 2024.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

AWA Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

110,000

65,182

175,182

At 30 September 2024

110,000

65,182

175,182

Depreciation

At 1 October 2023

-

65,182

65,182

At 30 September 2024

-

65,182

65,182

Carrying amount

At 30 September 2024

110,000

-

110,000

At 30 September 2023

110,000

-

110,000

Included within the net book value of land and buildings above is £110,000 (2023 - £110,000) in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Other debtors

19,974

21,659

 

19,974

21,659

 

AWA Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

55,259

55,259

Taxation and social security

 

1,496

1,909

Accruals and deferred income

 

900

1,850

Other creditors

 

104,580

104,107

 

162,235

163,125

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Class 'A' of £1 each

1,381,434

1,381,434

1,381,434

1,381,434

Ordinary Class 'B' of £1 each

3,140

3,140

3,140

3,140

Ordinary Class 'C' of £1 each

36,342

36,342

36,342

36,342

 

1,420,916

1,420,916

1,420,916

1,420,916

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

 

AWA Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Unsecured debentures

31,554

31,554

Other borrowings

23,705

23,705

55,259

55,259

10

Dividends

11

Related party transactions

Summary of transactions with other related parties

During the year £1,272 was received from Mr A Whittle against his Directors Current Account. On the 30th September 2024 the total amount owed by Mr A Whittle was £4,728 (£6,000 (2023)). The s.455 charge has been reduced by £413 to £1,496 (£1,909 2023)
During the year £1,316 was paid to Mr Whittle for services rendered.

12

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Class 'A' of £1 each

1,381,434

1,381,434

1,381,434

1,381,434

Ordinary Class 'B' of £1 each

3,140

3,140

3,140

3,140

Ordinary Class 'C' of £1 each

36,342

36,342

36,342

36,342

1,420,916

1,420,916

1,420,916

1,420,916