Amwill Limited - Period Ending 2019-07-31

Registration number: 09112203

Amwill Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2019

Cannon Moorcroft Limited
Chartered Accountants
3 Manor Courtyard
Hughenden Avenue
High Wycombe
Buckinghamshire
HP13 5RE

 

Amwill Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 5

Amwill Limited

Company Information

Director

Ms J Bailey

Registered office

3 Manor Courtyard Hughenden Avenue High Wycombe Buckinghamshire HP13 5RE

Accountants

Cannon Moorcroft Limited Chartered Accountants 3 Manor Courtyard Hughenden Avenue High Wycombe Buckinghamshire HP13 5RE

Page 1

Amwill Limited

(Registration number: 09112203)
Balance Sheet as at 31 July 2019

	Note	2019 £	2018 £
Fixed assets
Investment property	4	146,249	146,249
Current assets
Debtors	5	24	-
Cash at bank and in hand		1,725	3,237
		1,749	3,237
Creditors: Amounts falling due within one year	6	(1,843)	(2,269)
Net current (liabilities)/assets		(94)	968
Total assets less current liabilities		146,155	147,217
Creditors: Amounts falling due after more than one year	6	(41,484)	(43,684)
Net assets		104,671	103,533
Capital and reserves
Called up share capital	7	10	10
Profit and loss account		104,661	103,523
Total equity		104,671	103,533

For the financial year ending 31 July 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 29 February 2020
 

.........................................

Ms J Bailey
Director

The notes on pages 3 to 5 form an integral part of these financial statements.

Page 2

Amwill Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2019

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Tax

The tax expense for the period comprises current 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors and triennially by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Borrowings

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.

Page 3

Amwill Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2019

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2018 - 1).

4	Investment properties

	2019 £
At 1 August	146,249

There has been no valuation of investment property by an independent valuer.

5

Debtors

	2019 £	2018 £
Other debtors	24	-
	24	-

6

Creditors

Creditors: amounts falling due within one year

	2019 £	2018 £
Due within one year
Trade creditors	667	786
Corporation tax control	276	227
Accruals and deferred income	900	900
Other creditors	-	356
	1,843	2,269

Creditors: amounts falling due after more than one year

	Note	2019 £	2018 £
Due after one year
Loans and borrowings	8	41,484	43,684

Page 4

Amwill Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2019

7	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary of £1 each	10	10	10	10

8	Loans and borrowings

	2019 £	2018 £
Non-current loans and borrowings
Other borrowings	41,484	43,684

9	Related party transactions

Other transactions with directors

Included in other debtors is £23 (2018: £357 credit) owed by the director. This was repaid in full within 9 months of the financial year end.

Page 5