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Registered number: 06532217
MWA Technology Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Company Information
Directors Mrs Julia Wardell
Mr Martin Wardell
Mr Robin Tarling
Secretary Mrs Julia Wardell
Company Number 06532217
Registered Office The American Barns
Banbury Road
Lighthorne
CV35 0AE
Accountants mca business ltd
The American Barns
Banbury Road
Lighthorne
Warwick
CV35 0AE
Page 1
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Balance Sheet
Registered number: 06532217
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 100,583 110,655
100,583 110,655
CURRENT ASSETS
Stocks 6 1,289,296 1,198,893
Debtors 7 2,081,767 1,465,880
Cash at bank and in hand 348,239 929,775
3,719,302 3,594,548
Creditors: Amounts Falling Due Within One Year 8 (1,863,498 ) (1,903,423 )
NET CURRENT ASSETS (LIABILITIES) 1,855,804 1,691,125
TOTAL ASSETS LESS CURRENT LIABILITIES 1,956,387 1,801,780
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,850 ) (2,850 )
NET ASSETS 1,953,537 1,798,930
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 1,953,437 1,798,830
SHAREHOLDERS' FUNDS 1,953,537 1,798,930
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For the year ending 31 March 2025 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Martin Wardell
Director
25/11/2025
The notes on pages 4 to 7 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
MWA Technology Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06532217 . The registered office is The American Barns , Banbury Road , Lighthorne , CV35 0AE.
The presentation currency of the financial statements is the Pound Sterling (£).
All monetary amounts are rounded to the nearest pound.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 6 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 3 years Straight Line
Plant & Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 3 years Straight Line
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Financial Instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.
Basic financial assets and liabilities that are payable or receivable within one year, typically trade payables or receivables are measured, initially and subsequently, at the undiscounted amount of cash or other consideration, expected to be paid or received.
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2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 27 (2024: 27)
27 27
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 667,848
As at 31 March 2025 667,848
Amortisation
As at 1 April 2024 667,848
As at 31 March 2025 667,848
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 -
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5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2024 14,882 53,921 134,493 3,950
Additions - - 34,300 -
As at 31 March 2025 14,882 53,921 168,793 3,950
Depreciation
As at 1 April 2024 14,882 38,049 63,414 2,714
Provided during the period - 2,381 21,939 247
As at 31 March 2025 14,882 40,430 85,353 2,961
Net Book Value
As at 31 March 2025 - 13,491 83,440 989
As at 1 April 2024 - 15,872 71,079 1,236
Computer Equipment Total
£ £
Cost
As at 1 April 2024 162,337 369,583
Additions 1,303 35,603
As at 31 March 2025 163,640 405,186
Depreciation
As at 1 April 2024 139,869 258,928
Provided during the period 21,108 45,675
As at 31 March 2025 160,977 304,603
Net Book Value
As at 31 March 2025 2,663 100,583
As at 1 April 2024 22,468 110,655
6. Stocks
2025 2024
£ £
Stock 1,289,296 1,198,893
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7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 1,262,764 721,754
Prepayments and accrued income 58,409 58,864
Amounts owed by group undertakings 760,594 685,262
2,081,767 1,465,880
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 1,213,479 887,391
Bank loans and overdrafts 36 36
Corporation tax 53,127 253,216
Other taxes and social security 26,555 20,426
VAT 136,565 82,808
Other creditors 13,909 19,688
Accruals and deferred income 269,320 231,334
Directors' loan accounts 150,507 408,524
1,863,498 1,903,423
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
At the year end Mr & Mrs B P Wardell were owed £434,338 (2021: £499,889) by MWA Technology Limited by the way of their directors loan account. These were extended on an interest free basis, and it is not expected that these will be repaid within 1 year of he year end.
11. Ultimate Controlling Party
The company's ultimate controlling party is Mr & Mrs M B P Wardell by virtue of his ownership of 100% of the issued share capital in the company.
12. Audit Information
The auditor's report on the accounts of MWA Technology Limited for the year ended 31 March 2025 was unqualified.
The auditor's report was signed by Statutory Auditor.
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