Company registration number 07710892 (England and Wales)
AWOOGA MANAGEMENT LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
AWOOGA MANAGEMENT LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
AWOOGA MANAGEMENT LTD
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
51,376
11,927
Current assets
Debtors
4
204,389
96,187
Cash at bank and in hand
81,008
116,365
285,397
212,552
Creditors: amounts falling due within one year
5
(294,037)
(220,068)
Net current liabilities
(8,640)
(7,516)
Total assets less current liabilities
42,736
4,411
Creditors: amounts falling due after more than one year
6
(42,161)
-
Net assets
575
4,411
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
475
4,311
Total equity
575
4,411
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 28 May 2025 and are signed on its behalf by:
Mrs J Charles
Director
Company registration number 07710892 (England and Wales)
AWOOGA MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information
Awooga Management Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, Colwyn Chambers, 19 York Street, Manchester, M2 3BA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.2
Turnover
Turnover represents amounts receivable for royalties and performances fees net of VAT.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
25% straight line
Motor vehicles
25% straight line
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’.
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.
Classification of financial liabilities
Financial liabilities are classified according to the substance of the contractual arrangements entered into.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
AWOOGA MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
4
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023
57,819
Additions
56,673
At 31 July 2024
114,492
Depreciation and impairment
At 1 August 2023
45,892
Depreciation charged in the year
17,224
At 31 July 2024
63,116
Carrying amount
At 31 July 2024
51,376
At 31 July 2023
11,927
AWOOGA MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
108,600
60,852
Corporation tax and S455 tax recoverable
22,930
8,667
Other debtors
72,859
26,668
204,389
96,187
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
3,860
6,295
Trade creditors
3,124
150
Corporation tax
193,489
160,696
Other taxation and social security
62,998
46,177
Other creditors
30,566
6,750
294,037
220,068
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
42,161
7
Directors' transactions
Loans have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
2.25
26,668
305,424
1,848
(261,880)
72,060
26,668
305,424
1,848
(261,880)
72,060