Company Registration No. 10979196 (England and Wales)
Awen Collective Limited
Unaudited accounts
for the period from 1 May 2022 to 31 March 2023
Awen Collective Limited
Unaudited accounts
Contents
Awen Collective Limited
Company Information
for the period from 1 May 2022 to 31 March 2023
Directors
D Lewis
J Farrow
P Dennis
Company Number
10979196 (England and Wales)
Registered Office
BRITANNIA HOUSE CAERPHILLY BUSINESS PARK
VAN ROAD
CAERPHILLY
CF83 3GG
WALES
Awen Collective Limited
Statement of financial position
as at 31 March 2023
Intangible assets
8,460
8,460
Tangible assets
11,613
13,505
Cash at bank and in hand
65,533
492,595
Creditors: amounts falling due within one year
(25,142)
(36,675)
Net current assets
136,623
561,210
Total assets less current liabilities
158,542
585,021
Creditors: amounts falling due after more than one year
(7,506)
(10,792)
Net assets
151,036
574,229
Called up share capital
203
203
Share premium
1,259,281
1,259,281
Profit and loss account
(1,108,448)
(685,255)
Shareholders' funds
151,036
574,229
For the period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 April 2023 and were signed on its behalf by
J Farrow
Director
Company Registration No. 10979196
Awen Collective Limited
Notes to the Accounts
for the period from 1 May 2022 to 31 March 2023
Awen Collective Limited is a private company, limited by shares, registered in England and Wales, registration number 10979196. The registered office is BRITANNIA HOUSE CAERPHILLY BUSINESS PARK, VAN ROAD, CAERPHILLY, CF83 3GG, WALES.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% per annum reducing balance basis
The accounts have been prepared on a going concern basis. The company incurred losses during the year. However, the directors have been successful in obtaining new sales contracts and attracting further investment during the accounting period and will continue to support the company to meet its obligations, if and when, they become due. The directors are therefore of the opinion that they should continue to adopt the going concern basis of accounting in preparing the accounts
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Expenditure on research and development is written off in the year in which it is incurred.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Awen Collective Limited
Notes to the Accounts
for the period from 1 May 2022 to 31 March 2023
4
Intangible fixed assets
Other
5
Tangible fixed assets
Computer equipment
Charge for the period
3,301
6
Investments
Subsidiary undertakings
Valuation at 1 May 2022
1,846
Valuation at 31 March 2023
1,846
Amounts falling due within one year
Accrued income and prepayments
1,720
19
Other debtors
94,512
99,691
Awen Collective Limited
Notes to the Accounts
for the period from 1 May 2022 to 31 March 2023
8
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
3,500
3,500
Taxes and social security
7,906
-
Deferred income
11,917
30,000
9
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
112,500 Ordinary shares of £0.001 each
112.50
112.50
91,205 Ordinary A shares of £0.001 each
91.20
91.20
11
Average number of employees
During the period the average number of employees was 12 (2022: 7).