Warwick Edging Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10349961 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2020

FOR

WARWICK EDGING LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G F Woolley

Mrs A J Woolley

J Woolley

Ms N MacVarish

REGISTERED OFFICE:

Unit D

Welton Road

Wedgenock Industrial Estate

Warwick

Warwickshire

CV34 5PZ

REGISTERED NUMBER:

10349961 (England and Wales)

FIXED ASSETS

Tangible assets

4

66,343

77,363

CURRENT ASSETS

Stocks

710,900

727,000

Debtors

318,474

557,998

Cash at bank

234,086

135,948

1,263,460

1,420,946

CREDITORS

Amounts falling due within one year

667,103

862,078

NET CURRENT ASSETS

596,357

558,868

TOTAL ASSETS LESS CURRENT LIABILITIES

662,700

636,231

CREDITORS

Amounts falling due after more than one year

(400,000

)

(400,000

)

PROVISIONS FOR LIABILITIES

(3,084

)

(3,668

)

NET ASSETS

259,616

232,563

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

259,516

232,463

SHAREHOLDERS' FUNDS

259,616

232,563

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 16 November 2020 and were signed on its behalf by:

G F Woolley - Director

1.	STATUTORY INFORMATION

Warwick Edging 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 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 accounts have been prepared in accordance with applicable accounting standards. The principal accounting

policies adopted in the preparation of the financial statements are set out below.

Turnover

Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal

course of business. Revenue is recognised in respect of service contracts when the company obtains the right to

consideration.

Tangible fixed assets

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

Plant & machinery

-

20% on reducing balance

Fixtures & fittings

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

Freehold property is stated at cost less depreciation in accordance with FRS 102. It is company policy to

maintain freehold property to a high standard with the cost of repairs and maintenance being charged to the

income statement. The residual value of the property is therefore expected not to be less than the original

purchase cost. No depreciation is therefore charged on freehold property.

Stocks

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

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2019 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2019

111,526

Additions

4,324

At 30 April 2020

115,850

DEPRECIATION

At 1 May 2019

34,163

Charge for year

15,344

At 30 April 2020

49,507

NET BOOK VALUE

At 30 April 2020

66,343

At 30 April 2019

77,363

5.	LEASING AGREEMENTS

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

2020

2019

£

£

Within one year

-

3,565

6.	SECURED DEBTS

During the period the company issued a debenture in favour of the directors . The debenture contains a fixed and

floating charge over all freehold and leasehold property, fixed and current assets and includes all present and

future IP rights and licenses.

7.	PENSION COMMITMENTS

There are outstanding pension contributions due from the company of £1,042 (2019: £934).