AC Bronwin Ltd - Accounts to registrar (filleted) - small 23.1.2

AC Bronwin Ltd - Accounts to registrar (filleted) - small 23.1.2

AC BRONWIN LTD - Company Information

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REGISTERED NUMBER: 12940335 (England and Wales)













AC Bronwin Ltd

Unaudited Financial Statements

for the Year Ended 30 September 2022






AC Bronwin Ltd (Registered number: 12940335)

Contents of the Financial Statements
for the Year Ended 30 September 2022










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


AC Bronwin Ltd

Company Information
for the Year Ended 30 September 2022







DIRECTOR: A C Bronwin





SECRETARY: A C Bronwin





REGISTERED OFFICE: Brynllys
11 High Street
Llandrindod Wells
Powys
LD1 6AG





REGISTERED NUMBER: 12940335 (England and Wales)





ACCOUNTANTS: The Hutchinson Partnership Limited
trading as The Hutchinson Partnership
Chartered Accountants
The Bull Pen
Grove Farm
Portway, Burghill
Hereford
HR4 8NF
Page 1
Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
AC Bronwin Ltd


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of AC Bronwin Ltd for the year ended 30 September 2022 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of AC Bronwin Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of AC Bronwin Ltd and state those matters that we have agreed to state to the director of AC Bronwin Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AC Bronwin Ltd and its director for our work or for this report.

It is your duty to ensure that AC Bronwin Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of AC Bronwin Ltd. You consider that AC Bronwin Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of AC Bronwin Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Hutchinson Partnership Limited
trading as The Hutchinson Partnership
Chartered Accountants
The Bull Pen
Grove Farm
Portway, Burghill
Hereford
HR4 8NF


27 June 2023

This page does not form part of the statutory financial statements

Page 2
AC Bronwin Ltd (Registered number: 12940335)

Balance Sheet
30 September 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investments 4 - 1,989,195
Investment property 5 730,458 400,000
730,458 2,389,195

CURRENT ASSETS
Debtors 6 15,370 632,608
Cash at bank 2,206,707 1,987,616
2,222,077 2,620,224
CREDITORS
Amounts falling due within one year 7 41,994 42,366
NET CURRENT ASSETS 2,180,083 2,577,858
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,910,541
4,967,053

CAPITAL AND RESERVES
Allotted, called up and fully
paid share capital 9 2,593,350 4,950,000
Retained earnings 317,191 17,053
SHAREHOLDERS' FUNDS 2,910,541 4,967,053

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

Page 3 continued...
AC Bronwin Ltd (Registered number: 12940335)

Balance Sheet - continued
30 September 2022


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 director and authorised for issue on 26 June 2023 and were signed by:





A C Bronwin - Director


The notes form part of these financial statements

Page 4
AC Bronwin Ltd (Registered number: 12940335)

Notes to the Financial Statements
for the Year Ended 30 September 2022


1. STATUTORY INFORMATION

AC Bronwin Ltd 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. 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.

The director has reviewed the financial requirements of the company for the 12 months following the approval of the financial statements and considers that the company will be able to operate within its current facilities. Therefore the accounts are prepared on the going concern basis.

Preparation of consolidated financial statements
The financial statements contain information about AC Bronwin Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

The company ceased to be a parent of a group on 12 June 2022, following the transfer of its 95% shareholding in its subsidiary to a separate holding company.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any permanent diminution in value.

The shares that AC Bronwin Ltd held in a subsidiary were transferred to a separate holding company as part of a company demerger on 12 June 2022 and so all subsidiary investments were disposed of during the year.

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.

Taxation
Taxation for the year comprises current and deferred tax. 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.

Page 5 continued...
AC Bronwin Ltd (Registered number: 12940335)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2022


3. EMPLOYEES

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2021 1,989,195
Disposals (1,989,195 )
At 30 September 2022 -
NET BOOK VALUE
At 30 September 2022 -
At 30 September 2021 1,989,195

Shares in group undertakings originally cost £4,989,195. During the year ended 30 September 2021, they were revalued by £3,000,000, to give their valuation as at 1 October 2021 of £1,989,195. These shares have all been disposed of during the year.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2021 400,000
Additions 330,458
At 30 September 2022 730,458
NET BOOK VALUE
At 30 September 2022 730,458
At 30 September 2021 400,000

Within investment property, there is property valued at £400,000, which was transferred from a former subsidiary company by way of a dividend in specie on 16 January 2021.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed by group undertakings - 615,000
Deferred tax asset
Investment property valuation 15,370 15,370
Prepayments - 2,238
15,370 632,608

Page 6 continued...
AC Bronwin Ltd (Registered number: 12940335)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2022


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Tax 975 892
Other creditors 22,667 39,000
Director's current account 15,102 28
Accruals and deferred income 3,250 2,446
41,994 42,366

8. DEFERRED TAX
£   
Balance at 1 October 2021 (15,370 )
Balance at 30 September 2022 (15,370 )

9. ALLOTTED, CALLED UP AND FULLY
PAID SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
2,593,350 Ordinary £1 2,593,350 4,950,000

A share capital reduction in AC Bronwin Ltd occurred on 12 June 2022, reducing the number of Ordinary shares from 4,950,000 to 2,593,350 by cancelling and extinguishing 2,356,650 of the issued ordinary £1 shares in the company. This reduction was part of the company demerger agreement.

10. RELATED PARTY DISCLOSURES

At the year end, the balance on the loan account between the company and its former subsidiary was £NIL (2021: £615,000). This loan was unsecured and interest free.

Page 7