Company No: 14137822 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	31.05.2023
		£
Fixed assets
Tangible assets	3	20,357
		20,357
Current assets
Debtors	4	38,785
Cash at bank and in hand	5	43,022
		81,807
Creditors: amounts falling due within one year	6	( 49,810)
Net current assets		31,997
Total assets less current liabilities		52,354
Creditors: amounts falling due after more than one year	7	( 15,509)
Net assets		36,845
Capital and reserves
Called-up share capital	9	50
Profit and loss account		36,795
Total shareholder's funds		36,845

For the financial period ending 31 May 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Income Statement has not been delivered.

The financial statements of AW Developments Anglia Limited (registered number: 14137822) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

N A Worman Director

J A Worman Director

23 May 2024

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

AW Developments Anglia Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Larking Gowen 1st Floor Prospect House, Rouen Road, Norwich, NR1 1RE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles	25 % reducing balance
Computer equipment	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

2. Employees

	Period from 27.05.2022 to 31.05.2023
	Number
Monthly average number of persons employed by the Company during the period, including directors	2

3. Tangible assets

	Vehicles		Computer equipment		Total
	£		£		£
Cost
At 27 May 2022	0		0		0
Additions	23,995		879		24,874
At 31 May 2023	23,995		879		24,874
Accumulated depreciation
At 27 May 2022	0		0		0
Charge for the financial period	4,499		18		4,517
At 31 May 2023	4,499		18		4,517
Net book value
At 31 May 2023	19,496		861		20,357
Leased assets included above:
Net book value
At 31 May 2023	19,496		0		19,496

4. Debtors

	31.05.2023
	£
Trade debtors	5,785
Other debtors	33,000
	38,785

5. Cash and cash equivalents

	31.05.2023
	£
Cash at bank and in hand	43,022

6. Creditors: amounts falling due within one year

	31.05.2023
	£
Trade creditors	10,335
Amounts owed to Parent undertakings	100
Taxation and social security	22,411
Obligations under finance leases and hire purchase contracts	5,786
Other creditors	11,178
	49,810

7. Creditors: amounts falling due after more than one year

	31.05.2023
	£
Obligations under finance leases and hire purchase contracts	15,509

The HP liability is secured against the assets which finance is due.

8. Deferred tax

	31.05.2023
	£
At the beginning of financial period	0
Charged to the Income Statement	( 5,089)
At the end of financial period	( 5,089)

9. Called-up share capital

	31.05.2023
	£
Allotted, called-up and fully-paid
50 Ordinary shares of £ 1.00 each	50