ACW Properties Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01695457 (England and Wales)

ACW Properties Limited

Unaudited Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

C P Worthy

J T Worthy

Mrs S J Worthy

Registered office:

Pentwyn Barn

Newchurch

Nr Chepstow

NP16 6DD

Registered number:

01695457 (England and Wales)

Accountants:

Menzies LLP, Statutory Auditors

5th Floor Hodge House

114-116 St Mary Street

Cardiff

CF10 1DY

Fixed assets

Property, plant and equipment

4

202,922

129,140

Investment property

5

4,324,000

4,600,000

4,526,922

4,729,140

Current assets

Inventories

80,036

169,515

Debtors

6

338,510

425,786

Cash at bank

79,362

37,972

497,908

633,273

Creditors

Amounts falling due within one year

7

(58,723

)

(100,629

)

Net current assets

439,185

532,644

Total assets less current liabilities

4,966,107

5,261,784

Creditors

Amounts falling due after more than one
year

8

(5,481

)

-

Provisions for liabilities

10

(339,654

)

(392,145

)

Net assets

4,620,972

4,869,639

Capital and reserves

Called up share capital

1,000

Non-distributable Reserves

1,554,692

1,830,692

Retained earnings

3,065,280

3,037,947

Shareholders' funds

4,620,972

4,869,639

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

C P Worthy - Director

1.	Statutory information

ACW Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern

We believe that the company's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs. We also confirm our plans for future action(s) required to enable the company to continue as a going concern are feasible. We have considered a period of twelve months from the date of approval of the financial statements. We believe that no further disclosures relating to the company's ability to continue as a going concern need to be made in the financial statements.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The director believes the fair value of the properties has not changed since 31 December 2020.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangements as either financial assets, financial liabilities or equity instruments, and are held at amortised cost. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all its liabilities.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value of the future payments discounted at a market rate of interest for a similar debt instrument

3.	Employees and directors

The average number of employees during the year was 3 (2023 - 3 ) .

4.	Property, plant and equipment

Freehold

Plant and

property

machinery

Totals

£

Cost

At 1 January 2024

-

177,516

Additions

83,339

18,420

101,759

At 31 December 2024

83,339

195,936

279,275

Depreciation

At 1 January 2024

-

48,376

Charge for year

-

27,977

At 31 December 2024

-

76,353

Net book value

At 31 December 2024

83,339

119,583

202,922

At 31 December 2023

-

129,140

5.	Investment property

Total

£

Fair value

At 1 January 2024

4,600,000

Revaluations

(276,000

)

At 31 December 2024

4,324,000

Net book value

At 31 December 2024

4,324,000

At 31 December 2023

4,600,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

4,324,000

6.

Debtors: amounts falling due within one year

2024

2023

£

Trade debtors

97,845

36,179

Other debtors

2,918

-

Intercompany loan

215,205

369,000

Directors' current accounts

5,175

53

Tax

90

-

VAT

-

9,094

Prepayments and accrued income

17,277

11,460

338,510

425,786

7.

Creditors: amounts falling due within one year

2024

2023

£

Hire purchase contracts

2,881

-

Trade creditors

34,048

31,824

Tax

2,551

56,177

VAT

5,194

-

Other creditors

1,325

Directors' current accounts

-

475

Accruals and deferred income

12,724

10,828

58,723

100,629

8.

Creditors: amounts falling due after more than one year

2024

2023

£

Hire purchase contracts

5,481

-

9.	Secured debts

The following secured debts are included within creditors:

2024

2023

£

Hire purchase contracts

8,362

-

Hire purchase agreements are secured on the assets to which they relate.

10.	Provisions for liabilities

2024

2023

£

Deferred tax

Accelerated capital allowances

17,052

17,103

Other timing differences

322,602

375,042

339,654

392,145

Deferred

tax

£

Balance at 1 January 2024

392,145

Credit to Income Statement during year

(52,491

)

Balance at 31 December 2024

339,654

11.	Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

J T Worthy

Balance outstanding at start of year

53

-

Amounts advanced

1,378

53

Amounts repaid

(53

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

1,378

53

C P Worthy

Balance outstanding at start of year

(475

)

-

Amounts advanced

4,272

-

Amounts repaid

-

(475

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

3,797

(475

)

12.	Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13.	Ultimate controlling party

The controlling party is C P Worthy.

The immediate parent company is Worthy Business Holdings Limited, a company registered in England and Wales.