Awardprop Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 01594348 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

AWARDPROP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J Feldman

Mr H Feldman

Mr I Gluck

Mr C Gluck

SECRETARY:

Mr I Gluck

REGISTERED OFFICE:

105 Eade Road

OCC Building A

2nd Floor, Unit 11D

London

N4 1TJ

REGISTERED NUMBER:

01594348 (England and Wales)

ACCOUNTANTS:

DAS Accounting Services Ltd

105 Eade Road

OCC Building A

2nd Floor Unit 11D

London

N4 1TJ

FIXED ASSETS

Tangible assets

5

5,074

6,766

Investments

6

356

496

5,430

7,262

CURRENT ASSETS

Stocks

716,443

716,443

Debtors

7

837,441

985,760

Cash at bank

341,200

200,145

1,895,084

1,902,348

CREDITORS

Amounts falling due within one year

8

(128,802

)

(125,925

)

NET CURRENT ASSETS

1,766,282

1,776,423

TOTAL ASSETS LESS CURRENT LIABILITIES

1,771,712

1,783,685

CREDITORS

Amounts falling due after more than one year

9

(606,162

)

(636,311

)

NET ASSETS

1,165,550

1,147,374

CAPITAL AND RESERVES

Called up share capital

10

100

100

Capital redemption reserve

20,346

20,346

Retained earnings

1,145,104

1,126,928

SHAREHOLDERS' FUNDS

1,165,550

1,147,374

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 January 2023 and were signed on its behalf by:

Mr I Gluck - Director

1.	STATUTORY INFORMATION

Awardprop 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.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Judgements and key sources of estimation uncertainty

In the application of the Company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The directors do not consider there are any critical judgments or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation

Tax is recognised in the Profit and Loss Account, 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.

Fixed assets

Fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

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

Office equipment

- 25% reducing balance

Fixtures and fittings

- 25% reducing balance

Computer equipment

- 25% reducing balance

Investments

Investments in quoted companies are measured at fair value with changes in fair value being recognised in profit or loss.

Gift aid payments to parent charities

The company pays its taxable profits for the reporting period to its parent charities under the gift aid scheme. These gift aid payments are recognised as distributions to owners in equity within retained earnings. Gift aid payments are recognised in the reporting period that the payments are made. The final gift aid payment is planned to be made within 9 months of the end of the reporting date.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

5.	TANGIBLE FIXED ASSETS

Fixtures

Office

and

Computer

equipment

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2021

and 31 March 2022

497

98,905

13,141

112,543

DEPRECIATION

At 1 April 2021

124

95,963

9,690

105,777

Charge for year

93

736

863

1,692

At 31 March 2022

217

96,699

10,553

107,469

NET BOOK VALUE

At 31 March 2022

280

2,206

2,588

5,074

At 31 March 2021

373

2,942

3,451

6,766

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 April 2021

496

Revaluations

(140

)

At 31 March 2022

356

NET BOOK VALUE

At 31 March 2022

356

At 31 March 2021

496

Cost or valuation at 31 March 2022 is represented by:

Other

investments

£

Valuation in 2019

967

Valuation in 2020

(1,063

)

Valuation in 2021

279

Valuation in 2022

173

356

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

837,441

985,760

Other debtors include amounts of £769,177 (2021: £925,746) due from a company which has directors in common with the company.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans

30,492

26,087

Trade creditors

-

278

Other creditors

98,310

99,560

128,802

125,925

Other creditors include amounts of £90,945 (2021: £90,945) owed to a company which has directors in common with the company.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

606,162

636,311

The bank loan is secured by legal charges over the assets of the company.

The bank loan bears interest at 2.5% per annum and is repayable in 2026.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

1

100

100

11.	RELATED PARTY DISCLOSURES

Other than the amounts disclosed elsewhere in the financial statements, no transactions with related parties were undertaken such as are required to be disclosed under FRS 102.