Warrens of Winchester Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07132847 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

FOR

WARRENS OF WINCHESTER LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

Mr P D T Morgan

REGISTERED OFFICE:

Unit 1 Moorside Point

Moorside Road

Winnall

Winchester

Hampshire

SO23 7RX

REGISTERED NUMBER:

07132847 (England and Wales)

ACCOUNTANTS:

Rothman Pantall LLP

Chartered Accountants

Chilworth Point

1 Chilworth Road

Southampton

SO16 7JQ

FIXED ASSETS

Intangible assets

4

90,000

97,500

Tangible assets

5

26,655

14,236

Investments

6

100

100

116,755

111,836

CURRENT ASSETS

Stocks

104,453

111,841

Debtors

61,115

36,100

Cash at bank and in hand

795

40,799

166,363

188,740

CREDITORS

Amounts falling due within one year

164,059

212,568

NET CURRENT ASSETS/(LIABILITIES)

2,304

(23,828

)

TOTAL ASSETS LESS CURRENT LIABILITIES

119,059

88,008

CREDITORS

Amounts falling due after more than one year

50,000

20,000

NET ASSETS

69,059

68,008

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

59,059

58,008

SHAREHOLDERS' FUNDS

69,059

68,008

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 30 June 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 8 March 2019 and were signed by:

Mr P D T Morgan - Director

1.	STATUTORY INFORMATION

Warrens of Winchester 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.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS

The financial statements contain information about Warrens of Winchester Limited 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.

REVENUE RECOGNITION

Revenue is the amount derived from trading activities of stationery sales, stated after trade discounts, and net of

VAT. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company

and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received

or receivable, excluding discounts, rebates, and value added tax.

GOODWILL

Goodwill represents the difference between the fair value of the consideration paid on acquisition of a business

in 2010 and the fair value of its separate net assets at the date of acquisition. Goodwill is amortised over its

estimated useful life of 20 years.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

Straight line over 10 years

Fixtures and fittings

-

Straight line over 5 years

Computer equipment

-

Straight line over 3 years

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated

impairment losses. Historical cost included expenditure that is directly attributable to bringing the asset to the

location and condition necessary for it to be capable of operating in the manner intended by management.

The assets' residual values, useful lives and depreciation methods are reviewed and if appropriate are adjusted

if there is an indication of a significant change the last reporting date.

STOCKS

Stocks are valued at the lower of cost or net realisable value, after making due allowance for any obsolete or

slow moving items.

Cost is computed on a first in, first out basis and calculated as the selling price less the current margin

applicable to the class of stock. Net realisable value is determined as the estimated selling price less the

estimated cost of disposal.

LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

SHORT TERM DEBTORS AND CREDITORS

Debtors and creditors receivable and payable within one year or upon demand are recorded at transaction price

whether or not a rate of interest is charged on the balance. Any losses arising from impairment are recognised in

the income statement in other operating expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2017 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2017

and 30 June 2018

150,000

AMORTISATION

At 1 July 2017

52,500

Amortisation for year

7,500

At 30 June 2018

60,000

NET BOOK VALUE

At 30 June 2018

90,000

At 30 June 2017

97,500

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2017

29,538

Additions

16,444

Disposals

(1,058

)

At 30 June 2018

44,924

DEPRECIATION

At 1 July 2017

15,302

Charge for year

4,025

Eliminated on disposal

(1,058

)

At 30 June 2018

18,269

NET BOOK VALUE

At 30 June 2018

26,655

At 30 June 2017

14,236

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 July 2017

and 30 June 2018

100

NET BOOK VALUE

At 30 June 2018

100

At 30 June 2017

100

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Within one year

80,000

36,625

Between one and five years

280,000

-

360,000

36,625

8.	SECURED DEBTS

There is a fixed and floating charge over the property and undertakings of the company with respect to

overdrawn bank accounts. At the year end the bank account was overdrawn.

9.	RELATED PARTY DISCLOSURES

The total amount owed to a company under common control is £21,851 (2017: £65,928) as at 30 June 2018

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 Abridged Income Statement 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 Warrens of Winchester Limited for the year ended 30 June 2018 which comprise the Abridged

Statement of Income and Retained Earnings, Abridged 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 director of Warrens of Winchester Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Warrens of Winchester Limited and state those matters that we have agreed to state to the director of Warrens of Winchester Limited 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 Warrens of Winchester Limited and its director for our work or for this report.

It is your duty to ensure that Warrens of Winchester 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 Warrens of Winchester Limited. You consider that Warrens of Winchester 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 Warrens of Winchester 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.

Rothman Pantall LLP

Chartered Accountants

Chilworth Point

1 Chilworth Road

Southampton

SO16 7JQ

Date: .............................................