Austwel Construction Limited - Accounts to registrar (filleted) - small 23.2.5

Austwel Construction Limited - Accounts to registrar (filleted) - small 23.2.5

AUSTWEL CONSTRUCTION LIMITED - Company Information

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Austwel Construction Limited

Financial Statements for the Year Ended 30 September 2023






Austwel Construction Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: J L Arnold
J C Davies
S E Hanks





REGISTERED OFFICE: Firstone House
Walwyns Castle
Haverfordwest
Pembrokeshire
SA62 3EE





REGISTERED NUMBER: 03143942 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA
1
Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Austwel Construction Limited


The following reproduces the text of the report prepared for the directors 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 & Loss Account and certain other primary statements and the Report of the Directors 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 Austwel Construction Limited for the year ended 30 September 2023 which comprise the Profit & Loss Account, Balance Sheet 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 Board of Directors of Austwel Construction Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Austwel Construction Limited and state those matters that we have agreed to state to the Board of Directors of Austwel Construction Limited, as a body, 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 Austwel Construction Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Austwel Construction Limited 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 Austwel Construction Limited. You consider that Austwel Construction Limited 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 Austwel Construction Limited. 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.






BPU Limited
Chartered Accountants


13 June 2024

This page does not form part of the statutory financial statements

2
Austwel Construction Limited (Registered number: 03143942)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 10,329 13,771
Investment property 4 500,000 500,000
510,329 513,771

CURRENT ASSETS
Debtors 5 9,626 11,506
Cash at bank 67,399 41,484
77,025 52,990
CREDITORS
Amounts falling due within one year 6 401,785 402,973
NET CURRENT LIABILITIES (324,760 ) (349,983 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
185,569
163,788

CREDITORS
Amounts falling due after more than
one year
7
(4,829
)
(7,631
)

PROVISIONS FOR LIABILITIES (17,000 ) (17,000 )
NET ASSETS 163,740 139,157

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 120,547 120,547
Retained earnings 43,191 18,608
SHAREHOLDERS' FUNDS 163,740 139,157

The notes form part of these financial statements

3 continued...
Austwel Construction Limited (Registered number: 03143942)

Balance Sheet - continued
30 September 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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 & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 June 2024 and were signed on its behalf by:





J L Arnold - Director


The notes form part of these financial statements

4
Austwel Construction Limited (Registered number: 03143942)

Notes to the Financial Statements
for the Year Ended 30 September 2023


1. 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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% reducing balance
Fixtures and fittings - 25% reducing balance

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 & 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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

5 continued...
Austwel Construction Limited (Registered number: 03143942)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


3. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 October 2022
and 30 September 2023 27,149 44,238 71,387
DEPRECIATION
At 1 October 2022 15,239 42,377 57,616
Charge for year 2,977 465 3,442
At 30 September 2023 18,216 42,842 61,058
NET BOOK VALUE
At 30 September 2023 8,933 1,396 10,329
At 30 September 2022 11,910 1,861 13,771

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022
and 30 September 2023 500,000
NET BOOK VALUE
At 30 September 2023 500,000
At 30 September 2022 500,000

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2022 137,547
Cost 362,453
500,000

The investment property was revalued on an open market basis on 30 September 2022 by the directors with the assistance of their professional advisors. It's value is still deemed appropriate.

6 continued...
Austwel Construction Limited (Registered number: 03143942)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 8,366 10,303
Amounts owed by group undertakings 1,260 350
Other debtors & prepayments - 853
9,626 11,506

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,759 2,750
Trade creditors 6,804 6,988
Amounts owed to group undertakings 260,671 256,671
Taxes & social security costs 7,902 15,000
Other creditors & accruals 123,649 121,564
401,785 402,973

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 4,829 7,631

7